Investments

12 Months Ended

Dec. 31, 2011

Investments, Debt and Equity Securities [Abstract]

Investments

4. Investments

The Company's investments (other than pension assets) consist of the following (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value (Net Carrying Amount)
December 31, 2011
Trading equity securities	$	3,160	$	81	$	79	$	3,162
Trading debt securities		7,761		211		71		7,901
Total	$	10,921	$	292	$	150	$	11,063
December 31, 2010
Trading equity securities	$	3,089	$	154	$	7	$	3,236
Trading debt securities		9,393		266		67		9,592
Total	$	12,482	$	420	$	74	$	12,828

The trading equity investments noted above are valued at their estimated fair value based on their quoted market prices and the debt securities are valued based upon a mix of observable market prices and model driven prices derived from a matrix of observable market prices for assets with similar characteristics obtained from a nationally recognized third party pricing service. Additionally, a significant portion of the trading equity securities are in equity money market and mutual funds and also comprise a portion of the Company's liability under its SERP. See Note 12, Pension and Retirement Plans, for additional information on these investments and the SERP.

Trading debt securities are comprised mainly of marketable debt securities held by Astec Insurance. Astec Insurance has an investment strategy that focuses on providing regular and predictable interest income from a diversified portfolio of high-quality fixed income securities. At December 31, 2011 and 2010, $1,324,000 and $1,156,000, respectively, of trading debt securities were due to mature within twelve months and, accordingly, are included in other current assets.

Net unrealized gains or (losses) incurred during 2011, 2010 and 2009, respectively, on investments still held as of the end of each reporting period, amounted to ($77,000), $219,000 and $1,015,000.