Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2011

Fair Value Measurements [Abstract]

Fair Value Measurements

(Thousands of dollars)			Quoted Prices in				Significant
	Fair Value at		Active Markets for		Significant Other		Unobservable
	June 30,		Identical Assets		Observable Inputs		Inputs
	2011		(Level 1)		(Level 2)		(Level 3)
Assets:
Deferred compensation plan asset (1)	$	18,798	$	16,032	$	2,766
Total assets at fair value	$	18,798	$	16,032	$	2,766
Liabilities:
Deferred compensation plan liability (2)	$	22,691	$	22,691
Total liabilities at fair value	$	22,691	$	22,691

(1)

The deferred compensation plan asset consists of the investment funds maintained for the future payments under the Company’s executive deferred compensation plan, which is structured as a rabbi trust. The investments are marketable securities accounted for under the Debt and Equity Securities Topic of the ASC. The level 1 investments are valued using quoted market prices multiplied by the number of shares. The level 2 investments are valued based on vendor or broker models. The cost basis of the investment funds is $18,639.

(2)

The deferred compensation plan liability is the Company’s liability under its executive deferred compensation plan. The liability represents the fair value of the participant shadow accounts, and the value is based on quoted market prices.