Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2011

Fair Value of Financial Instruments [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

13. FAIR VALUE OF FINANCIAL INSTRUMENTS

The amounts reported on the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and short-term debt approximate fair value. The following table sets forth carrying value and fair value of long-term debt:

	Sept. 30, 2011				Dec. 31, 2010
In thousands	Carrying Value		Fair Value		Carrying Value		Fair Value
Fixed-rate bonds	$	296,046	$	306,125	$	295,529	$	304,115
Variable rate debt		36,695		37,861		36,695		37,780
Total	$	332,741	$	343,986	$	332,224	$	341,895

As of September 30, 2011, and December 31, 2010, we had $300.0 million of 7 ¹/8% fixed rate debt, $100.0 million of which was recorded net of unamortized original issue discount. These bonds were sold in publicly registered transactions, but are thinly traded. Accordingly, the values set forth above are based on debt instruments with similar characteristics. The fair value of the remaining debt instrument was estimated using a discounted cash flow model based on independent sources. The fair value of financial derivatives is set forth below in Note 14.