FAIR VALUE OF FINANCIAL INSTRUMENTS(TABLES)

3 Months Ended

Mar. 31, 2014

FAIR VALUE OF FINANCIAL INSTRUMENTS

Assets and liabilities measured at fair value on a recurring basis for 2014 and 2013

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	Fair value measurement at reporting date using
	Total		Quoted Prices in Active		Significant Other		Significant
	March 31,		Markets for Identical Assets		Observable Inputs		Unobservable Inputs
Description	2014		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents:
U.S. Treasury bills	$	9,000,000	$	9,000,000	$	—		—
Money market mutual funds		4,330,000		4,330,000		—		—
Time deposits		55,000		—		55,000		—
Marketable securities:
Corporate debt securities		1,204,000				1,204,000		—
Marketable equity securities		7,224,000		7,224,000				—
Total assets	$	21,813,000	$	20,554,000	$	1,259,000	$	—

	Fair value measurement at reporting date using
	Total		Quoted Prices in Active		Significant Other		Significant
	December 31,		Markets for Identical Assets		Observable Inputs		Unobservable Inputs
Description	2013		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents:
Time deposits	$	55,000		—	$	55,000		—
Money market mutual funds		1,257,000	$	1,257,000		—		—
U.S. T-bills		15,305,000	$	15,305,000
Marketable securities:
Corporate debt securities		1,065,000		—		1,065,000		—
Marketable equity securities		3,658,000		3,658,000		—		—
Tota assets	$	21,340,000	$	20,220,000	$	1,120,000	$	—

Fair Value, Assets Measured on Nonrecurring Basis for 2014 and 2013

Assets measured at fair value on a nonrecurring basis are summarized below:  

	Fair value measurement at reporting date using								Total gains
	Total		Quoted Prices in Active		Significant Other		Significant		(losses) for
	March 31,		Markets for Identical Assets		Observable Inputs		Unobservable Inputs		three months ended
Description	2014		(Level 1)		(Level 2) (a)		(Level 3) (b)		3/31/2014
Assets:
Other investments by investment focus:
Technology & Communication	$	473,000	$	—	$	473,000	$	—	$	—
Diversified businesses		1,093,000		—		1,093,000		—		—
Real estate and related		1,667,000		—		720,000		947,000		—
Other		625,000		—		—		625,000		—
	$	3,858,000	$	—	$	2,286,000	$	1,572,000	$	—

	Fair value measurement at reporting date using								Total
	Total		Quoted Prices in Active		Significant Other		Significant		losses for
	December 31,		Markets for Identical Assets		Observable Inputs		Unobservable Inputs		year ended
Description	2013		(Level 1)		(Level 2) (a)		(Level 3) (b)		12/31/2013
Assets:
Other investments by investment focus:
Technology & Communication	$	472,000	$	—	$	472,000	$	—	$	50,000
Diversified businesses		1,098,000		—		1,098,000		—		—
Real estate and related		1,409,000		—		462,000		947,000		—
Other		325,000		—		—		325,000		—
	$	3,304,000	$	—	$	2,032,000	$	1,272,000	$	50,000