Fair Value Measurements

3 Months Ended

Mar. 31, 2012

Note 5. Fair Value Measurements

The following table provides information on those assets measured at fair value on a recurring basis.


	Carrying amount in condensed consolidated balance sheet March 31, 2012		Fair Value March 31, 2012

					Fair Value Measurement Using
					Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents
Commercial Paper	$	5,446,000	$	5,446,000	$	5,446,000	$	—	$	—
Available-for-sale:
Equity Securities	$	3,816,000	$	3,816,000	$	3,816,000	$	—	$	—


	Carrying amount in consolidated balance sheet December 31, 2011		Fair Value December 31, 2011

					Fair Value Measurement Using
					Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents:
Commercial Paper	$	5,373,000	$	5,373,000	$	5,373,000	$	—	$	—
Available-for-sale:
Equity Securities	$	3,181,000	$	3,181,000	$	3,181,000	$	—	$	—

The fair value of the commercial paper and equity securities are based on quoted market prices in an active market. Closing stock prices are readily available from active markets and are used as being representative of fair value. The Company classifies these securities as level 1.

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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