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INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2012

INVESTMENTS

Summary of investments in held-to-maturity, available-for-sale and trading securities

March 31, 2012		Amortized Cost			Gross Unrealized Holding Gains			Gross Unrealized Holding Losses			Fair Value			Continuous Unrealized Loss Position less than 12 Months			Continuous Unrealized Loss Position greater than 12 Months
Held-to-Maturity
Short-term:
U.S. Treasuries		$	402		$	-		$	-		$	402		$	-		$	-
Certificates of deposit		37,594			-			-			37,594			-			-
Municipal securities		330,546			-			89			330,457			89			-
U.S. government agency securities		19,988			-			1			19,987			1			-
Available-for-sale
Short-term:
Variable rate demand notes		31,058			-			-			31,058			-			-
Long-term:
Auction rate securities		3,310			-			-			3,310			-			-
Total		$	422,898		$	-		$	90		422,808			$	90		$	-
Trading
Short-term:
Auction rate securities											-
Long-term:
Auction rate securities											18,554
Total											$	441,362

December 31, 2011		Amortized Cost				Gross Unrealized Holding Gains			Gross Unrealized Holding Losses			Fair Value			Continuous Unrealized Loss Position less than 12 Months				Continuous Unrealized Loss Position greater than 12 Months
Held-to-Maturity
Short-term:
U.S. Treasuries		$		8,034		$	5		$	-		$	8,039		$	-			$	-
Certificates of deposit		29,034				1			-			29,035			-				-
Corporate bonds		2,022				-			-			2,022			-				-
Municipal securities		284,605				-			64			284,541			64				-
U.S. government agency securities		16,005				2			-			16,007			-				-
Available-for-sale
Short-term:
Variable rate demand notes		58,924				-			-			58,924			-				-
Long-term:
Auction rate securities		3,320				-			-			3,320			-				-
Total		$	401,944			$	8		$	64		401,888			$		64		$	-
Trading
Short-term:
Auction rate securities												12,658
Long-term:
Auction rate securities												19,874
Total												$	434,420

Schedule of net gain recognized through earnings on trading securities

		Three-Months Ended March 31,
		2012			2011
Gain on transfer from available-for-sale to trading		$	-		$	-
Gain on trading securities sold		1,034			126
Gain on trading securities held		753			152
Gain on trading securites		$	1,787		$	278

Summarizes the underlying contractual maturities of the Company's investments

		March 31, 2012						December 31, 2011
		Amortized Cost			Fair Value			Amortized Cost			Fair Value
Less than 1 year:
U.S. Treasuries		$	402		$	402		$	8,034		$	8,039
Certificates of deposit		37,594			37,594			29,034			29,035
Corporate bonds		-			-			2,022			2,022
Municipal securities		330,546			330,457			284,605			284,541
U.S. government agency securities		19,988			19,987			16,005			16,007
Due 1 - 10 years:
Variable rate demand notes		-			-			5,775			5,775
Due 11 - 20 years:
Variable rate demand notes		6,801			6,801			12,716			12,716
Auction rate securities		5,350			5,350			5,158			5,158
Due 21 - 30 years:
Variable rate demand notes		18,082			18,082			27,902			27,902
Auction rate securities		16,514			16,514			25,134			25,134
Due 31 - 40 years:
Variable rate demand notes		6,175			6,175			12,532			12,532
Auction rate securities		-			-			5,559			5,559
Total		$	441,452		$	441,362		$	434,476		$	434,420

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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