Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value of Financial Instruments [Abstract]

Fair Value on a Recurring Basis

Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations.  The following table presents our assets measured at fair value on a recurring basis as of June 30, 2012 and December 31, 2011.

Assets							Fair Value as of June 30, 2012
(in thousands)	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	56,050	$	-	$	-	$	56,050
Short-term investments*		30,143		-		-		30,143
Other investments*		11,521		-		-		11,521
Auction-rate municipal securities		-		-		963		963
Total	$	97,714	$	-	$	963	$	98,677

* The amortized cost of these investments approximates fair market value.

Assets							Fair Value as of December 31, 2011
(in thousands)	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	63,077	$	-	$	-	$	63,077
Short-term investments*		24,740		-		-		24,740
Other investments*		20,271		-		-		20,271
Auction-rate municipal securities		-		-		998		998
Total	$	108,088	$	-	$	998	$	109,086

* The amortized cost of these investments approximates fair market value.

Level 3 Gains and Losses

The table presented below summarizes the change in balance sheet carrying values associated with Level 3 financial instruments for the six months ended June 30, 2012.

	Auction-rate
(in thousands)	municipal securities			Total
Balance at December 31, 2011	$	998		$	998
Purchases		-			-
Settlements (at par)		-			-
Transfers in/out of Level 3		-			-
Gains
Realized		-			-
Unrealized		-			-
Losses
Realized		-			-
Unrealized		(35	)		(35	)
Balance at June 30, 2012	$	963		$	963