Short-term Investments and Marketable Securities

3 Months Ended

Jun. 30, 2011

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

(4) Short-term Investments and Marketable Securities

          The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s investments by major security type at June 30, 2011 were as follows (in thousands):

	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value*
Corporate debt	$	35,120	$	445	$	—		$	35,565
Non-U.S. government debt		5,473		45		—			5,518
Other		3,250		78		(12	)		3,316
	$	43,843	$	568	$	(12	)	$	44,399

     * Included in short-term investments of $41,083 and marketable securities of $3,316 at June 30, 2011.

          The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s investments by major security type at December 31, 2010 were as follows (in thousands):

	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value*
Corporate debt	$	52,079	$	738	$	—		$	52,817
U.S. government-sponsored entities debt		1,000		4		—			1,004
Non-U.S. government debt		5,553		86		—			5,639
Other		3,019		111		(26	)		3,104
	$	61,651	$	939	$	(26	)	$	62,564

     *  Included in short-term investments of $31,170 and marketable securities of $31,394 at December 31, 2010.

          All corporate, U.S. government-sponsored entity and non-U.S. government debt investments are classified as available-for-sale securities. Other securities include investments of participants in the Company’s Executive Deferred Compensation Plan (predominantly mutual fund shares) totaling $3.3 million fair value as of June 30, 2011 and $3.1 million fair value as of December 31, 2010. There is a non-current liability that offsets the aggregate deferred compensation plan assets.

          Fair value is determined from readily available quoted prices in active markets (Level 1, the preferred approach pursuant to applicable accounting guidance). As of June 30, 2011 and December 31, 2010, the Company’s short-term investments and marketable securities are all valued based on Level 1 inputs.

          Maturities of marketable debt securities, excluding securities related to the Company’s Executive Deferred Compensation Plan, at June 30, 2011 were as follows (in thousands):

Twelve-Month Periods Ending June 30,	Amortized Cost		Fair Value
2012	$	40,593	$	41,083

          Sales during the quarter ended June 30, 2011 of investments in the deferred compensation plan resulted in a realized gain of approximately $58,000, bringing the year-to-date total realized gains to approximately $80,000. However, because the Company maintains a liability for the fair value of the deferred compensation due to plan participants, any realized gains or losses related to these investment holdings are off-set by a corresponding increase or decrease in the liability to operating expenses. Realized gains and losses on sales are computed on the basis of specific identification of the securities sold.

          Impairment assessments are made at the individual security level each reporting period. When the fair value of an investment is less than its cost at the balance sheet date, a determination is made as to whether the impairment is other than temporary and, if it is other than temporary, an impairment loss is recognized in earnings equal to the difference between the investment’s amortized cost and fair value at such date. As of June 30, 2011, only certain assets of the Company’s Executive Deferred Compensation Plan have unrealized holding losses. None of the underlying investments has been in a continuous loss position longer than twelve months.