Marketable Securities

9 Months Ended

Sep. 30, 2012

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

(2) Marketable Securities

We follow a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to measurements involving unobservable inputs (Level 3). The three levels of the fair value hierarchy are as follows:

• Level 1 inputs are observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2 inputs include other inputs that are directly or indirectly observable in the marketplace.

• Level 3 inputs are unobservable inputs which are supported by little or no market activity.

The level in the fair value hierarchy within which a fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety.

The following table presents the placement in the fair value hierarchy of assets that are measured at fair value on a recurring basis at period end:

September 30, 2012:	Total		Level 1	Level 2	Level 3
Common stock	$	360	360	—	—
Government and agency securities	26,868		26,868	—	—
Total available-for-sale securities	$	27,228	27,228	—	—

December 31, 2011:	Total		Level 1	Level 2	Level 3
Common stock	$	320	320	—	—
Government and agency securities	26,845		26,845	—	—
Total available-for-sale securities	$	27,165	27,165	—	—

September 30, 2011:	Total		Level 1	Level 2	Level 3
Common stock	$	295	295	—	—
Government and agency securities	25,908		25,908	—	—
Total available-for-sale securities	$	26,203	26,203	—	—

There were no transfers between levels during the three and nine month periods ended September 30, 2012 and 2011.

As of September 30, 2012, December 31, 2011, and September 30, 2011, our financial assets that are measured at fair value on a recurring basis consisted of common stock and debt securities. The government and agency securities have a maturity of twelve months.

Marketable securities, all treated as available-for-sale securities at period end, consist of the following:

September 30, 2012:	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value
Common stock	$	197	163	—	360
Government and agency securities	26,868		—	—	26,868
Total available-for-sale securities	$	27,065	163	—	27,228

December 31, 2011:	Amortized cost		Gross unrealized gains	Gross unrealized losses		Fair value
Common stock	$	197	123	—		320
Government and agency securities	26,851		—	(6	)	26,845
Total available-for-sale securities	$	27,048	123	(6	)	27,165

September 30, 2011:	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value
Common stock	$	198	97	—	295
Government and agency securities	25,850		58	—	25,908
Total available-for-sale securities	$	26,048	155	—	26,203

The unrealized gains and losses recorded in accumulated other comprehensive income and the realized gains and losses recorded in earnings were immaterial during the periods reported in these consolidated financial statements.

Future maturities of our available-for-sale securities consist of the following:

	Less than 12 months			Greater than 12 months
September 30, 2012:	Amortized cost		Fair value	Amortized cost	Fair value
Common stock	$	197	360	—	—
Government and agency securities	26,868		26,868	—	—
Total available-for-sale securities	$	27,065	27,228	—	—