FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Cash And Cash Equivalents And Investments From Continuing Operations

Cash and cash equivalents and investments from our continuing operations consist of the following as of June 30, 2012 and December 31, 2011:


	June 30, 2012
	(Dollars in thousands) Gross Unrealized
	Cost		Gain		(Loss)			Fair Value
Cash and cash equivalents:
Cash	$	107,304	$	—	$	—		$	107,304
Money market funds		101,636		372		—			102,008

Total cash and cash equivalents		208,940		372		—			209,312

Short-term investments (available-for-sale):
U.S. Treasury bills		133,997		—		(47	)		133,950
U.S. Government Agencies		26,669		—		(3	)		26,666

Total short-term investments (available-for-sale)		160,666		—		(50	)		160,616

Total cash and cash equivalents and short-term investments	$	369,606	$	372	$	(50	)	$	369,928

Long-term investments (available-for-sale):
Municipal bonds	$	11,150	$	—	$	(735	)	$	10,415


	December 31, 2011
	(Dollars in thousands) Gross Unrealized
	Cost		Gain		(Loss)			Fair Value
Cash and cash equivalents:
Cash	$	157,317	$	—	$	—		$	157,317
Money market funds		122,827		448		—			123,275

Total cash and cash equivalents		280,144		448		—			280,592

Short-term investments (available-for-sale):
U.S. Treasury bills		133,648		31		(5	)		133,674
U.S. Government Agencies		26,962		—		(29	)		26,933

Total short-term investments (available-for-sale)		160,610		31		(34	)		160,607

Total cash and cash equivalents and short-term investments	$	440,754	$	479	$	(34	)	$	441,199

Long-term investments (available-for-sale):
Municipal bonds	$	11,150	$	—	$	(735	)	$	10,415

Investments Measured At Fair Value On A Recurring Basis

Investments measured at fair value on a recurring basis subject to the disclosure requirements issued by FASB ASC Topic 820 – Fair Value Measurements at June 30, 2012 and December 31, 2011 were as follows:


	As of June 30, 2012
	(Dollars in thousands)
	Level 1		Level 2		Level 3		Total
Municipal bonds	$	—	$	—	$	10,415	$	10,415
U.S. Treasury bills		133,950		—		—		133,950
U.S. Government Agencies		26,666		—		—		26,666

Totals	$	160,616	$	—	$	10,415	$	171,031


	As of December 31, 2011
	(Dollars in thousands)
	Level 1		Level 2		Level 3		Total
Municipal bonds	$	—	$	—	$	10,415	$	10,415
U.S. Treasury bills		133,674		—		—		133,674
U.S. Government Agencies		26,933		—		—		26,933

Totals	$	160,607	$	—	$	10,415	$	171,022

Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following table presents a rollforward of our assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as defined in FASB ASC Topic 820 for the year to date ended June 30, 2012:


	(Dollars in thousands)
Balance at December 31, 2011	$	10,415
Unrealized loss		—

Balance at June 30, 2012	$	10,415

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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