XML 29 R37.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair value measurements (Tables)
 9 Months Ended
Sep. 30, 2014
Fair Value Disclosures [Abstract]  
Available-for-sale securities
Details of available-for-sale securities were as follows:

September 30, 2014
Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
 
(In thousands)
Mortgage-backed securities
$
7,838

$
71

$
(8
)
$
7,901

U.S. Treasury securities
2,368

8

(2
)
2,374

Total
$
10,206

$
79

$
(10
)
$
10,275


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


December 31, 2013
Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
 
(In thousands)
Mortgage-backed securities
$
8,151

$
69

$
(27
)
$
8,193

U.S. Treasury securities
1,906

15

(4
)
1,917

Total
$
10,057

$
84

$
(31
)
$
10,110
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 were as follows:

 
Fair Value Measurements at September 30, 2014, 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, 2014
 
(In thousands)
Assets:
 
 
 
 
Money market funds
$
—

$
19,687

$
—

$
19,687

Insurance contract*
—

63,578

—

63,578

Available-for-sale securities:
 
 
 
 
Mortgage-backed securities
—

7,901

—

7,901

U.S. Treasury securities
—

2,374

—

2,374

Commodity derivative instruments
—

11,581

—

11,581

Total assets measured at fair value
$
—

$
105,121

$
—

$
105,121

Liabilities:
 
 
 
 
Commodity derivative instruments
$
—

$
44

$
—

$
44

Total liabilities measured at fair value
$
—

$
44

$
—

$
44

*  The insurance contract invests approximately 21 percent in common stock of mid-cap companies, 17 percent in common stock of small-cap companies, 29 percent in common stock of large-cap companies, 32 percent in fixed-income investments and 1 percent in cash equivalents.

 
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 investments.

 
Fair Value Measurements at December 31, 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 December 31, 2013
 
(In thousands)
Assets:
 
 
 
 
Money market funds
$
—

$
19,227

$
—

$
19,227

Insurance contract*
—

62,370

—

62,370

Available-for-sale securities:
 
 
 
 
Mortgage-backed securities
—

8,193

—

8,193

U.S. Treasury securities
—

1,917

—

1,917

Commodity derivative instruments
—

1,950

—

1,950

Total assets measured at fair value
$
—

$
93,657

$
—

$
93,657

Liabilities:
 
 
 
 
Commodity derivative instruments
$
—

$
7,483

$
—

$
7,483

Total liabilities measured at fair value
$
—

$
7,483

$
—

$
7,483

* 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 investments.
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, 2014
$
2,210,557

$
2,332,887

Long-term debt at September 30, 2013
$
2,011,896

$
2,106,887

Long-term debt at December 31, 2013
$
1,854,563

$
1,912,590