Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of financial assets, excluding pension assets, at fair value

As indicated in the table below (which excludes the Company's pension assets), the Company has determined that all its financial assets and liabilities at June 30, 2012 and December 31, 2011 are level 1 and level 2 in the fair value hierarchy as defined above (in thousands):

	June 30, 2012
	Level 1		Level 2		Level 3		Total
Financial Assets:
Trading equity securities:
SERP money market fund	$	993	$	-	$	-	$	993
SERP mutual funds		2,054		-		-		2,054
Preferred stocks		717		-		-		717
Trading debt securities:
Corporate bonds		2,071		1,443		-		3,514
Municipal bonds		1,246		1,767		-		3,013
Floating rate notes		695		423		-		1,118
U.S. Treasury bill		250		-		-		250
Other government bonds		-		278		-		278
Total financial assets	$	8,026	$	3,911	$	-	$	11,937

Financial Liabilities:
SERP liabilities	$	6,342	$	-	$	-	$	6,342
Derivative financial instruments		-		129		-		129
Total financial liabilities	$	6,342	$	129	$	-	$	6,471

	December 31, 2011
	Level 1		Level 2		Level 3		Total
Financial Assets:
Trading equity securities:
SERP money market fund	$	989	$	-	$	-	$	989
SERP mutual funds		1,732		-		-		1,732
Preferred stocks		441		-		-		441
Trading debt securities:
Corporate bonds		1,649		2,238		-		3,887
Municipal bonds		211		2,880		-		3,091
Floating rate notes		97		233		-		330
U.S. Treasury bill		250		-		-		250
Other government bonds		-		343		-		343
Derivative financial instruments		-		307		-		307
Total financial assets	$	5,369	$	6,001	$	-	$	11,370

Financial Liabilities:
SERP liabilities	$	6,076	$	-	$	-	$	6,076
Derivative financial instruments		-		50		-		50
Total financial liabilities	$	6,076	$	50	$	-	$	6,126

Schedule of company investments (other than pension assets)

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)
June 30, 2012:
Trading equity securities	$	3,606	$	171	$	13	$	3,764
Trading debt securities		8,037		218		82		8,173
	$	11,643	$	389	$	95	$	11,937

December 31, 2011:
Trading equity securities	$	3,160	$	81	$	79	$	3,162
Trading debt securities		7,761		211		71		7,901
	$	10,921	$	292	$	150	$	11,063

- Definition

Tabular disclosure of trading securities (and certain trading assets) which consist of all investments in certain debt and equity securities (and other assets) that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for which an entity has elected the fair value option. Trading generally reflects active and frequent buying and selling, and trading securities are generally used with the objective of generating profits on short-term differences in price, but this category of investments may also include items which are not intended to be sold in the near term or for which the fair value option has been elected.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 12

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

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Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Trading Securities

-URI http://asc.fasb.org/extlink&oid=6526789

+ Details