Fair value measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Available-for-sale securities

Details of available-for-sale securities were as follows:

June 30, 2012	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Insurance investment contract	$	37,250	$	8,709	$	—		$	45,959
Mortgage-backed securities	8,130		128		(5		)	8,253
U.S. Treasury securities	1,958		37		(1		)	1,994
Total	$	47,338	$	8,874	$	(6	)	$	56,206

December 31, 2011	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Insurance investment contract	$	31,884	$	6,468	$	—		$	38,352
Auction rate securities	11,400		—		—			11,400
Mortgage-backed securities	8,206		95		(5		)	8,296
U.S. Treasury securities	1,619		37		—			1,656
Total	$	53,109	$	6,600	$	(5	)	$	59,704

Assets and liabilities measured at fair value on a recurring basis

The Company's assets and liabilities measured at fair value on a recurring basis are as follows:

	Fair Value Measurements at June 30, 2012, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at June 30, 2012
	(In thousands)
Assets:
Money market funds	$	—	$	21,054	$	—	$	21,054
Available-for-sale securities:
Insurance investment contract*	—		45,959		—		45,959
Mortgage-backed securities	—		8,253		—		8,253
U.S. Treasury securities	—		1,994		—		1,994
Commodity derivative instruments	—		48,657		—		48,657
Total assets measured at fair value	$	—	$	125,917	$	—	$	125,917
Liabilities:
Commodity derivative instruments	$	—	$	1,037	$	—	$	1,037
Interest rate derivative instruments	—		6,963		—		6,963
Total liabilities measured at fair value	$	—	$	8,000	$	—	$	8,000

*  The insurance investment contract invests approximately 28 percent in common stock of mid-cap companies, 28 percent in common stock of small-cap companies, 29 percent in common stock of large-cap companies and 15 percent in fixed-income and other investments.

	Fair Value Measurements at June 30, 2011, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at June 30, 2011
	(In thousands)
Assets:
Money market funds	$	—	$	8,297	$	—	$	8,297
Available-for-sale securities:
Insurance investment contract*	—		40,328		—		40,328
Auction rate securities	—		11,400		—		11,400
Mortgage-backed securities	—		8,162		—		8,162
U.S. Treasury securities	—		1,969		—		1,969
Commodity derivative instruments	—		20,499		—		20,499
Total assets measured at fair value	$	—	$	90,655	$	—	$	90,655
Liabilities:
Commodity derivative instruments	$	—	$	25,421	$	—	$	25,421
Total liabilities measured at fair value	$	—	$	25,421	$	—	$	25,421

*  The insurance investment contract invests approximately 34 percent in common stock of mid-cap companies, 33 percent in common stock of small-cap companies, 32 percent in common stock of large-cap companies and 1 percent in cash and cash equivalents.

	Fair Value Measurements at December 31, 2011, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs  (Level 3)		Balance at December 31, 2011
	(In thousands)
Assets:
Money market funds	$	—	$	97,500	$	—	$	97,500
Available-for-sale securities:
Insurance investment contract*	—		38,352		—		38,352
Auction rate securities	—		11,400		—		11,400
Mortgage-backed securities	—		8,296		—		8,296
U.S. Treasury securities	—		1,656		—		1,656
Commodity derivative instruments	—		30,455		—		30,455
Total assets measured at fair value	$	—	$	187,659	$	—	$	187,659
Liabilities:
Commodity derivative instruments	$	—	$	14,101	$	—	$	14,101
Interest rate derivative instruments	—		4,762		—		4,762
Total liabilities measured at fair value	$	—	$	18,863	$	—	$	18,863

* The insurance investment contract invests approximately 33 percent in common stock of mid-cap companies, 34 percent in common stock of small-cap companies, 32 percent in common stock of large-cap companies and 1 percent in cash and cash equivalents.

Fair value of long term debt outstanding

The estimated fair value of the Company's Level 2 long-term debt was as follows:

	Carrying Amount		Fair Value
	(In thousands)
Long-term debt at June 30, 2012	$	1,665,631	$	1,839,430
Long-term debt at June 30, 2011	$	1,432,105	$	1,550,592
Long-term debt at December 31, 2011	$	1,424,678	$	1,592,807