Marketable Equity Securities

6 Months Ended

Jun. 30, 2011

Marketable Equity Securities

Marketable Equity Securities

2. Marketable Equity Securities

During 2010, the Company invested a portion of its cash in marketable equity securities at a cost of $4 million.  These securities are valued at fair value.  Any resulting gain or loss is recorded to an unrealized gain and loss account (accumulated other comprehensive (loss) income) that is reported as a separate line item in the shareholders’ equity section of the balance sheet.  The gains and losses for available-for-sale securities are not reported on the statement of operations until the securities are sold or are other than temporarily impaired.  As at June 30, 2011, the fair value of these securities was $3.7 million (December 31, 2010 — $4.6 million), and as a result the Company recorded a loss, net of taxes, of $0.9 million for the six months ended June 30, 2011 (December 31, 2010 — $0.6 million gain) to accumulated other comprehensive (loss) income.