INVESTMENTS

12 Months Ended

Dec. 31, 2011

INVESTMENTS

INVESTMENTS

NOTE B—INVESTMENTS

        The amortized cost, unrealized gains and estimated fair values of the Company's available-for-sale securities held are summarized as follows:

	December 31,
	2011		2010
	(in thousands)
U.S. Treasury Bonds, stripped of interest, maturing 2020 and 2022, aggregate par value of $1.7 million and $1.7 million, respectively
Amortized cost	$	894	$	839
Gross unrealized gains		455		258
Estimated fair value	$	1,349	$	1,097

        During 2011, 2010, and 2009, the Company recognized approximately $0, $0 and $3 thousand, respectively, of realized gains from its investments in trading and available-for-sale securities. The basis of available for sale securities sold is determined using the specific identification method.

        The realized gains for each year results from the disposition of such securities due to the release of the Company's obligation related to securing its commitment under certain repurchase agreements and debentures (Notes C & F).

        The amortized cost and estimated fair values of available-for-sale securities, by contractual maturity at December 31, 2011 are shown below.

	Amortized cost		Estimated fair value
	(in thousands)
Due within one year	$	—	$	—
Due after one year through five years		—		—
Due after five years through ten years		475		721
Due after ten years		419		628
Total	$	894	$	1,349