v2.4.0.6

MARKETABLE SECURITIES (Tables) | 12 Months Ended
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Dec. 31, 2011
MARKETABLE SECURITIES |
Schedule of available-for-sale marketable securities |
At December 31, 2011, available-for-sale marketable securities are as follows:
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | (In thousands) |
Corporate debt securities |  | $ | 48,621 |  | $ | 99 |  | $ | (15 | ) | $ | 48,705 |
States of the U.S. and state political subdivisions |  |  | 111,758 |  |  | 587 |  |  | (22 | ) |  | 112,323 |
Total debt securities |  |  | 160,379 |  |  | 686 |  |  | (37 | ) |  | 161,028 |
Equity security |  |  | 4,656 |  |  | 11 |  |  | — |  |  | 4,667 |
Total marketable securities |  | $ | 165,035 |  | $ | 697 |  | $ | (37 | ) | $ | 165,695 |
At December 31, 2010, available-for-sale marketable securities are as follows:
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | (In thousands) |
Corporate debt securities |  | $ | 237,406 |  | $ | 773 |  | $ | (16 | ) | $ | 238,163 |
States of the U.S. and state political subdivisions |  |  | 110,478 |  |  | 373 |  |  | (230 | ) |  | 110,621 |
U.S. Treasury securities |  |  | 199,881 |  |  | 18 |  |  | — |  |  | 199,899 |
Total debt securities |  |  | 547,765 |  |  | 1,164 |  |  | (246 | ) |  | 548,683 |
Equity security |  |  | 12,896 |  |  | 2,418 |  |  | — |  |  | 15,314 |
Total marketable securities |  | $ | 560,661 |  | $ | 3,582 |  | $ | (246 | ) | $ | 563,997 |
Schedule of contractual maturities of debt securities classified as available-for-sale |
The contractual maturities of debt securities classified as available-for-sale at December 31, 2011 are as follows:
|  | Amortized Cost |  | Estimated Fair Value |
--- | --- | --- | --- | --- | ---
|  | (In thousands) |
Due in one year or less |  | $ | 68,375 |  | $ | 68,545 |
Due after one year through five years |  |  | 92,004 |  |  | 92,483 |
Total |  | $ | 160,379 |  | $ | 161,028 |
Summary of investments with continuous unrealized loss position |
|  | December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |
|  | (In thousands) |
|  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |
Corporate debt securities |  | $ | 12,920 |  | $ | (15 | ) | $ | 34,552 |  | $ | (16 | )
States of the U.S. and state political subdivisions |  |  | 11,711 |  |  | (22 | ) |  | 39,171 |  |  | (230 | )
Total |  | $ | 24,631 |  | $ | (37 | ) | $ | 73,723 |  | $ | (246 | )
Schedule of proceeds from maturities and sales of available-for-sale marketable securities and the related gross realized gains and losses |
|  | December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
|  | (In thousands) |
Proceeds from maturities and sales of available-for-sale marketable securities |  | $ | 600,149 |  | $ | 768,650 |  | $ | 293,629 |
Gross realized gains |  |  | 2,482 |  |  | 4,802 |  |  | 42,372 |
Gross realized losses |  |  | (41 | ) |  | (19 | ) |  | (12,414 | )

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- Definition Tabular disclosure of available-for-sale securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS115-1/124-1 -Paragraph 17 -Subparagraph a, b -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. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 19, 20, 21 -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. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 03-1 -Paragraph 21 -Subparagraph a, b -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. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27198-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 + Details
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