Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of financial assets and liabilities, at fair value

As indicated in the tables below (which excludes the Company’s pension assets), the Company has determined that all its financial assets and liabilities as of June 30, 2013 and December 31, 2012 are level 1 and level 2 in the fair value hierarchy as defined above (in thousands):

	June 30, 2013
	Level 1		Level 2		Total
Financial Assets:
Trading equity securities:
SERP money market fund	$	997	$	-	$	997
SERP mutual funds		1,904		-		1,904
Preferred stocks		714		-		714
Mutual funds		14,901		-		14,901
Trading debt securities:
Corporate bonds		3,670		1,168		4,838
Municipal bonds		506		1,233		1,739
Floating rate notes		303		272		575
U.S. Treasury bonds and bills		470		-		470
Other		-		980		980
Short-term derivative financial instruments		-		1,001		1,001
Total financial assets	$	23,465	$	4,654	$	28,119

Financial Liabilities:
SERP liabilities	$	-	$	6,949	$	6,949
Total financial liabilities	$	-	$	6,949	$	6,949

	December 31, 2012
	Level 1		Level 2		Total
Financial Assets:
Trading equity securities:
SERP money market fund	$	996	$	-	$	996
SERP mutual funds		1,835		-		1,835
Preferred stocks		720		-		720
Trading debt securities:
Corporate bonds		3,342		909		4,251
Municipal bonds		1,449		957		2,406
Floating rate notes		749		-		749
U.S. treasury bonds		200		-		200
Other		-		409		409
Total financial assets	$	9,291	$	2,275	$	11,566

Financial Liabilities:
SERP liabilities	$	-	$	6,674	$	6,674
Short-term derivative financial instruments		-		145		145
Total financial liabilities	$	-	$	6,819	$	6,819