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Debt
6 Months Ended
Jun. 30, 2012
Debt [Abstract]  
Debt

Note 5. Debt

The fair value of the Company’s long-term debt is estimated primarily based on the credit spread above U.S. Treasury securities on notes with similar rates, credit ratings, and remaining maturities. The fair value of short-term borrowings approximates carrying value. The fair value of the Company’s total debt was $1.44 billion at June 30, 2012 and $1.22 billion at December 31, 2011. Fair value amounts were determined primarily based on Level 2 inputs, which are defined as inputs other than quoted prices in active markets that are either directly or indirectly observable.

As of June 30, 2012, the Company was in compliance with its financial covenants.