Investments that the Company designated as available-for-sale are reported at fair value, with unrealized gains and losses, net of tax, recorded in accumulated other comprehensive income (loss). The Company bases the cost of the investment sold on the specific identification method. The available-for-sale investments consist of mutual funds. If an available-for-sale investment is other than temporarily impaired, the loss is charged to either earnings or stockholders’ equity depending on our intent and ability to retain the security until we recover the full cost basis and the extent of the loss attributable to the creditworthiness of the issuer.

On June 30, 2012 and December 31, 2011 the fair value for all of the Company’s investments was determined based upon quoted prices in active markets for identical assets (Level 1).

The carrying amount, gross unrealized holding gains, gross unrealized holding losses, and fair value of available-for-sale debt securities by major security type and class of security at June 30, 2012 and December 31, 2011 were as follows:

		Aggregate cost basis		Gross unrealized holding gains		Gross unrealized holding (losses)		Aggregate fair value
At June 30, 2012
Available-for-sale:
Mutual Funds	$	324,000	$	3,000	$	(1,000)	$	326,000
	$	324,000	$	3,000	$	(1,000)	$	326,000
At December 31, 2011
Available-for-sale:
Mutual Funds	$	631,000	$	—	$	(5,000)	$	626,000
	$	631,000	$	—	$	(5,000)	$	626,000

The aggregate fair value of mutual funds as of June 30, 2012 was $326,000. Included in this total was $104,000 of mutual funds which contained an unrealized loss of $1,000. These mutual funds contain investments that seek a high level of current income. The funds normally invest at least 80% of net assets, plus the amount of any borrowings for investment purposes, in floating or adjustable rate senior loans of any maturity or credit quality, including those rated below investment grade or determined by the fund's advisor to be of comparable quality. The unrealized loss on the mutual funds is due to the credit quality of the senior loans in the portfolio. Based upon the Company’s ability and intent to hold these investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider those investments to be other-than-temporarily impaired at June 30, 2012.