Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of assets measured at fair value on a recurring basis

Assets measured at fair value on a recurring basis are summarized below (in thousands):

	Fair Value Measurements as of September 30, 2013
	Total		Level 1		Level 2		Level 3

Marketable Securities
Bond and bond fund	$	440,270	$	—	$	440,270	$	—
Asset backed securities	198		—		198		—
	440,468		—		440,468		—

Cash, Cash Equivalents and Restricted Cash	287,305		287,305		—		—
Other Assets (a)	2,245		—		—		2,245
Total Assets Measured at Fair Value	$	730,018	$	287,305	$	440,468	$	2,245

	Fair Value Measurements as of December 31, 2012
	Total		Level 1		Level 2		Level 3

Marketable Securities
Bonds and bond funds	$	552,289	$	—	$	552,289	$	—
Commercial paper	3,514		—		3,514		—
Asset backed securities	314		—		314		—
	556,117		—		556,117		—

Cash, Cash Equivalents and Restricted Cash	153,325		153,325		—		—
Other Assets (a)	3,844		—		—		3,844
Total Assets Measured at Fair Value	$	713,286	$	153,325	$	556,117	$	3,844

(a) Auction rate securities included in “Other assets” in the unaudited Consolidated Balance Sheet

Schedule of fair value measurements using significant unobservable inputs

The following table presents the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at September 30, 2013 (in thousands):

Fair Value Measurements Using Significant Unobservable Inputs

(Level 3)

	Auction Rate Securities
Balance at January 1, 2013	$	3,844
Total realized and unrealized gains or (losses)
Included in earnings	—
Included in other comprehensive income	(71		)
Transferred out	—
Settlements	(1,528		)
Balance at September 30, 2013	$	2,245

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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