FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2011

Fair value of assets measured on a recurring basis

The Company’s assets measured at fair value on a recurring basis at September 30, 2011 and December 31, 2010 were as follows (in thousands):



	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at September 30, 2011
Auction rate securities	$	—	$	—	$	4,239	$	4,239
Marketable securities	$	93	$	—	$	—	$	93



	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at December 31, 2010
Auction rate securities	$	—	$	—	$	5,437	$	5,437
Marketable securities	$	3,174	$	—	$	—	$	3,174

Changes in auction rate securities measured at fair value on a recurring basis

The following tables present the changes in the Company’s auction rate securities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and nine months ended September 30, 2011 and 2010 (in thousands):



	Three Months Ended
	September 30,
	2011			2010
Balance at July 1,	$	5,311		$	5,315
Sale of auction rate securities	(1,000		)	—
Unrealized (losses) gains included in other comprehensive income	(72		)	115
Balance at September 30,	$	4,239		$	5,430



	Nine Months Ended
	September 30,
	2011			2010
Balance at January 1,	$	5,437		$	6,503
Sale of auction rate securities	(1,000		)	(1,300		)
Unrealized (losses) gains included in other comprehensive income	(198		)	227
Balance at September 30,	$	4,239		$	5,430

- 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, 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, issuances, 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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