Securities Available For Sale (Tables)

9 Months Ended

Sep. 30, 2012

Available-for-sale Securities [Abstract]

Fair Value Of Auction Rate Securities By Security Type And Underlying Credit Rating

The following tables set forth the fair values of the Company’s auction rate securities by type of security and underlying credit rating as of the dates indicated (in millions):

	Underlying Credit Rating (1)
As of September 30, 2012	AAA		BB		CCC		Total
Student loans	$	9.1	$	2.6	$	—	$	11.7
Structured finance securities	—		—		2.4		2.4
Total auction rate securities	$	9.1	$	2.6	$	2.4	$	14.1

	Underlying Credit Rating (1)
As of December 31, 2011	AAA		CCC		Total
Student loans	$	11.9	$	—	$	11.9
Structured finance securities	—		1.7		1.7
Total auction rate securities	$	11.9	$	1.7	$	13.6

(1) The Company’s auction rate securities maintain split ratings. For purposes of this table, securities are categorized according to their lowest rating.

Auction Rate Securities Reconciliation Of Cost Basis To Fair Value

The cost basis, gross cumulative unrealized (losses) gains and estimated fair values of the Company’s auction rate securities as of the dates indicated were as follows (in millions):

	September 30, 2012
	Adjusted  Cost Basis (1)		Gross Cumulative Unrealized (Losses)/Gains			Fair Value
Auction rate securities – student loans	$	12.9	$	(1.2	)	$	11.7
Auction rate securities – structured finance securities	1.7		0.7			2.4
Total auction rate securities	$	14.6	$	(0.5	)	$	14.1
	December 31, 2011
	Adjusted Cost Basis (1)		Gross Cumulative    Unrealized (Losses) Gains			Fair Value
Auction rate securities – student loans	$	12.9	$	(1.0	)	$	11.9
Auction rate securities – structured finance securities	1.7		—			1.7
Total auction rate securities	$	14.6	$	(1.0	)	$	13.6

(1) Adjusted cost basis reflects adjustments for credit and other losses recognized in earnings. Cumulative adjustments to the cost basis of securities held as of both September 30, 2012 and December 31, 2011 totaled $3.3 million. Par value of securities held as of both September 30, 2012 and December 31, 2011 was $17.9 million.