5. Other Assets

Investments reflected in other assets, net in the consolidated balance sheets at March 31, 2012 and December 31, 2011 were $58,547 and $30,113, respectively. These investments in equity securities have been classified as available-for-sale.

The cost, gross unrealized gains, gross unrealized losses and fair value of the Company's available-for-sale investments were as follows:


	March 31, 2012
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale equity securities	$	31,226	$	27,321	$	—	$	58,547


	December 31, 2011
	Cost		Gross Unrealized Gains		Gross Unrealized Losses ⁽¹⁾			Fair Value
Available-for-sale equity securities	$	28,265	$	1,981	$	(133	)	$	30,113

(1)	All unrealized loss positions were held at a loss for less than 12 months.

As of March 31, 2012 and December 31, 2011, unrealized gains of $17,523 and $1,185, respectively, net of income tax expense of $9,798 and $663, respectively, were recorded in accumulated other comprehensive income. See Note 9 for the fair value hierarchy of the Company's available-for-sale equity securities.

Amortization expense on intangible assets, included in other assets, of $5,623 and $5,709 is included in the consolidated statements of operations for the three months ended March 31, 2012 and 2011, respectively.