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Investments
 6 Months Ended
Jun. 30, 2012
Investments [Abstract]  
Investments
INVESTMENTS

The Company classifies the marketable securities in which it invests as available-for-sale securities. These securities are measured at fair market value in the financial statements with unrealized gains or losses recorded in other comprehensive income (loss). At the time the securities are sold or otherwise disposed of, gains or losses are included in net income.

The cost, gross unrealized gains, gross unrealized losses, and fair market value of available-for-sale investment securities by major security type and class of security for the periods ended June 30, 2012 and 2011, are as follows:

 
 
Investments
 
(In thousands)
Cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Fair market value
2012

 
 
 
 
 
 
 
 
 
Federal agency notes
$
24,523

 
 
 
$
(154
)
 
$
24,369

 
Commercial paper
34,329

 
 
 
(745
)
 
33,584

 
Mutual funds
1,374

 
137

 
 
 
1,511

 
Total
$
60,226

 
$
137

 
$
(899
)
 
$
59,464

 
 
 
 
 
 
 
 
 
2011

 
 
 
 
 
 
 
 
 
Federal agency notes
$
117,261

 
 
 
$
(295
)
 
$
116,966

 
Commercial paper
33,754

 
 
 
(841
)
 
32,913

 
Mutual funds
1,090

 
179

 
 
 
1,269

 
Total
$
152,105

 
$
179

 
$
(1,136
)
 
$
151,148

 
 
 
 
 
 
 
 
 


The mutual funds included in the investment table above are included in Other noncurrent assets on the Consolidated Balance Sheet.

The Company has long-term investments in several Canadian exploration companies, recorded under the cost method. At June 30, 2012, these long-term investments totaled $4.9 million and are recorded in Other noncurrent assets on the Consolidated Balance Sheet.