v2.4.0.8

Fair Value of Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2013
Fair Value of Financial Instruments |
Fair value of assets and liabilities measured on recurring basis |
|  | September 30, 2013 |  | December 31, 2012 |
|  | Fair Value Hierarchy |  | Fair Value Hierarchy |
(in thousands) |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
Assets(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 19,114 |  | $ | 19,114 | (2) | $ | — |  | $ | — |  | $ | 14,457 |  | $ | 14,457 | (2) | $ | — |  | $ | — |
Marketable securities, current |  | 135,098 |  | — |  | 135,098 | (3) | — |  | 102,439 |  | — |  | 102,439 | (3) |  |
Deferred compensation trusts |  | 81,350 |  | 81,350 | (4) | — |  | — |  | 80,842 |  | 80,842 | (4) | — |  | — |
Marketable securities, noncurrent |  | 281,999 |  | — |  | 281,999 | (5) | — |  | 318,355 |  | — |  | 318,355 | (5) | — |
Derivative assets(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | 219 |  | — |  | 219 |  | — |  | 95 |  | — |  | 95 |  | — |
Foreign currency contracts |  | 805 |  | — |  | 805 |  | — |  | 640 |  | — |  | 640 |  | — |
Liabilities(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities(6) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | $ | 290 |  | $ | — |  | $ | 290 |  | $ | — |  | $ | 28 |  | $ | — |  | $ | 28 |  | $ | — |
Foreign currency contracts |  | 3,344 |  | — |  | 3,344 |  | — |  | 2,151 |  | — |  | 2,151 |  | — |
(1) The company measures and reports assets and liabilities at fair value utilizing pricing information received from third parties. The company performs procedures to verify the reasonableness of pricing information received for significant assets and liabilities classified as Level 2. (2) Consists primarily of registered money market funds valued at fair value. These investments represent the net asset value of the shares of such funds as of the close of business at the end of the period. (3) Consists of investments in U.S. agency securities, U.S. Treasury securities, corporate debt securities, commercial paper and other debt securities with maturities of less than one year that are valued based on pricing models, which are determined from a compilation of primarily observable market information, broker quotes in non-active markets or similar assets. (4) Consists primarily of registered money market funds and an equity index fund valued at fair value. These investments, which are trading securities, represent the net asset value of the shares of such funds as of the close of business at the end of the period. (5) Consists of investments in U.S. agency securities, U.S. Treasury securities, corporate debt securities and other debt securities with maturities ranging from one year to three years that are valued based on pricing models, which are determined from a compilation of primarily observable market information, broker quotes in non-active markets or similar assets. (6) See Note 8 for the classification of commodity contracts and foreign currency contracts on the Condensed Consolidated Balance Sheet. Commodity contracts and foreign currency contracts are estimated using standard pricing models with market-based inputs, which take into account the present value of estimated future cash flows.
Carrying values and Estimated fair values of financial instruments that are not measured on a recurring basis |
|  |  |  | September 30, 2013 |  | December 31, 2012 |
|  | Fair Value |  | Carrying |  | Fair |  | Carrying |  | Fair |
(in thousands) |  | Hierarchy |  | Value |  | Value |  | Value |  | Value |
Assets: |  |  |  |  |  |  |  |  |  |  |
Cash(1) |  | Level 1 |  | $ | 1,604,552 |  | $ | 1,604,552 |  | $ | 1,343,866 |  | $ | 1,343,866 |
Cash equivalents(2) |  | Level 2 |  | 913,904 |  | 913,904 |  | 796,218 |  | 796,218 |
Marketable securities, current(3) |  | Level 2 |  | 22,812 |  | 22,812 |  | 34,688 |  | 34,688 |
Notes receivable, including noncurrent portion(4) |  | Level 3 |  | 25,836 |  | 25,836 |  | 34,471 |  | 34,471 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
3.375% Senior Notes(5) |  | Level 2 |  | $ | 496,494 |  | $ | 493,992 |  | $ | 496,164 |  | $ | 527,219 |
1.5% Convertible Senior Notes(5) |  | Level 2 |  | 18,398 |  | 47,510 |  | 18,472 |  | 39,392 |
5.625% Municipal Bonds(5) |  | Level 2 |  | — |  | — |  | 17,795 |  | 17,878 |
Other borrowings(6) |  | Level 2 |  | 7,035 |  | 7,035 |  | — |  | — |
Notes payable, including noncurrent portion(7) |  | Level 3 |  | — |  | — |  | 8,566 |  | 8,566 |
(1) Cash consists of bank deposits. Carrying amounts approximate fair value. (2) Cash equivalents consist of held-to-maturity time deposits with maturities of three months or less at the date of purchase. The carrying amounts of these time deposits approximate fair value because of the short-term maturity of these instruments. (3) Marketable securities, current consist of held-to-maturity time deposits with original maturities greater than three months that will mature within one year. The carrying amounts of these time deposits approximate fair value because of the short-term maturity of these instruments. Amortized cost is not materially different from the fair value. (4) Notes receivable are carried at net realizable value which approximates fair value. Factors considered by the company in determining the fair value include the credit worthiness of the borrower, current interest rates, the term of the note and any collateral pledged as security. Notes receivable are periodically assessed for impairment. (5) The fair value of the 3.375% Senior Notes, 1.5% Convertible Senior Notes and 5.625% Municipal Bonds are estimated based on quoted market prices for similar issues. During the first nine months of 2013, the company redeemed its 5.625% Municipal Bonds at a price of 100% of their principal amount. (6) Other borrowings represent amounts outstanding under a short-term credit facility. The carrying amount of borrowings under this credit facility approximates fair value because of the short-term maturity. (7) Notes payable consist primarily of equipment loans with banks at various interest rates with maturities ranging from less than one year to four years. The carrying value of notes payable approximates fair value. Factors considered by the company in determining the fair value include the company’s current credit rating, current interest rates, the term of the note and any collateral pledged as security. During the first nine months of 2013, the company paid off the remaining balances of various notes payable that were assumed in connection with the 2012 acquisition of an equipment company.

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13476-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration