Fair value measurements (Tables)

9 Months Ended

Sep. 30, 2013

Details of available-for-sale securities were as follows:



September 30, 2013	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Mortgage-backed securities	$	8,051	$	70	$	(20	)	$	8,101
U.S. Treasury securities	1,912		15		(4		)	1,923
Total	$	9,963	$	85	$	(24	)	$	10,024



September 30, 2012	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Mortgage-backed securities	$	8,391	$	175	$	(2	)	$	8,564
U.S. Treasury securities	1,758		47		—			1,805
Total	$	10,149	$	222	$	(2	)	$	10,369



December 31, 2012	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Mortgage-backed securities	$	8,054	$	144	$	(3	)	$	8,195
U.S. Treasury securities	1,763		43		—			1,806
Total	$	9,817	$	187	$	(3	)	$	10,001

Assets and liabilities measured at fair value on a recurring basis

The Company's assets and liabilities measured at fair value on a recurring basis are as follows:



	Fair Value Measurements at September 30, 2013, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at September 30, 2013
	(In thousands)
Assets:
Money market funds	$	—	$	21,019	$	—	$	21,019
Insurance contract*	—		58,142		—		58,142
Available-for-sale securities:
Mortgage-backed securities	—		8,101		—		8,101
U.S. Treasury securities	—		1,923		—		1,923
Commodity derivative instruments	—		6,144		—		6,144
Total assets measured at fair value	$	—	$	95,329	$	—	$	95,329
Liabilities:
Commodity derivative instruments	$	—	$	9,889	$	—	$	9,889
Total liabilities measured at fair value	$	—	$	9,889	$	—	$	9,889

* The insurance contract invests approximately 29 percent in common stock of mid-cap companies, 28 percent in common stock of small-cap companies, 28 percent in common stock of large-cap companies and 15 percent in fixed-income and other investments.



	Fair Value Measurements at September 30, 2012, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at September 30, 2012
	(In thousands)
Assets:
Money market funds	$	—	$	21,816	$	—	$	21,816
Insurance contract*	—		48,384		—		48,384
Available-for-sale securities:
Mortgage-backed securities	—		8,564		—		8,564
U.S. Treasury securities	—		1,805		—		1,805
Commodity derivative instruments	—		22,719		—		22,719
Total assets measured at fair value	$	—	$	103,288	$	—	$	103,288
Liabilities:
Commodity derivative instruments	$	—	$	2,155	$	—	$	2,155
Interest rate derivative instruments	—		7,779		—		7,779
Total liabilities measured at fair value	$	—	$	9,934	$	—	$	9,934

* The insurance contract invests approximately 28 percent in common stock of mid-cap companies, 28 percent in common stock of small-cap companies, 29 percent in common stock of large-cap companies and 15 percent in fixed-income and other investments.



	Fair Value Measurements at December 31, 2012, Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance at December 31, 2012
	(In thousands)
Assets:
Money market funds	$	—	$	24,240	$	—	$	24,240
Insurance contract*	—		48,898		—		48,898
Available-for-sale securities:
Mortgage-backed securities	—		8,195		—		8,195
U.S. Treasury securities	—		1,806		—		1,806
Commodity derivative instruments	—		18,304		—		18,304
Total assets measured at fair value	$	—	$	101,443	$	—	$	101,443
Liabilities:
Interest rate derivative instruments	$	—	$	6,255	$	—	$	6,255
Total liabilities measured at fair value	$	—	$	6,255	$	—	$	6,255

Fair value of long term debt outstanding

The estimated fair value of the Company's Level 2 long-term debt was as follows:



	Carrying Amount		Fair Value
	(In thousands)
Long-term debt at September 30, 2013	$	2,011,896	$	2,106,887
Long-term debt at September 30, 2012	$	1,742,977	$	1,906,673
Long-term debt at December 31, 2012	$	1,744,975	$	1,888,135

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- 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.

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