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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2013
Fair Value Disclosures [Abstract]  
Schedule of financial instruments and the methods and assumptions used in estimating fair value disclosures
The following table presents the components of cash and cash equivalents, short-term investments, and restricted funds:
 

September 30  
 2013
 
December 31 
 2012
 
(in thousands)
Cash and cash equivalents
 


 

Cash deposits(1)
$
64,557

 
$
48,293

Variable rate demand notes(1)(2)
29,953

 
29,807

Money market funds(3)
13,101

 
12,602

 
$
107,611

 
$
90,702

Short-term investments
 

 
 

Certificates of deposit(1)
$
28,573

 
$
29,054

Restricted cash, cash equivalents, and short-term investments(4)
 

 
 

Cash deposits(1)
$
1,902

 
$
5,901

Certificates of deposit(1)
—

 
3,757

 
$
1,902

 
$
9,658


(1)
Recorded at cost plus accrued interest, which approximates fair value.
(2)
Amounts may be redeemed on a daily basis with the original issuer.
(3)
Recorded at fair value as determined by quoted market prices (see amounts presented in the table of financial assets measured at fair value within this Note).
(4)
Amounts restricted for use are subject to change based on the requirements of the Company’s collateralized facilities (see Note F).
Schedule of financial instruments disclosed at fair value
The fair value of the Company’s Term Loan and note payable debt obligations (see Note F) approximate the amounts recorded in the consolidated balance sheets as presented in the following table:
 

September 30  
 2013
 
December 31 
 2012
 
(in thousands)

Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
Term loan(1)
$
86,875

 
$
86,875

 
$
95,000

 
$
95,000

Notes payable(2)
26,093

 
26,103

 
37,756

 
37,904

 
$
112,968

 
$
112,978

 
$
132,756

 
$
132,904


(1)
The Term Loan, which was entered into on June 15, 2012, carries a variable interest rate based on LIBOR, plus a margin, that is considered to be priced at market for debt instruments having similar terms and collateral requirements (Level 2 of the fair value hierarchy).
(2)
Fair value of the notes payable was determined using a present value income approach based on quoted interest rates from lending institutions with which the Company would enter into similar transactions (Level 2 of the fair value hierarchy).
Schedule of financial assets measured at fair value on a recurring basis
The following table presents the assets that are measured at fair value on a recurring basis, based upon quoted prices for identical assets in active markets (Level 1 of the fair value hierarchy):
 

September 30  
 2013
 
December 31 
 2012
 
(in thousands)
Money market funds(1)
$
13,101

 
$
12,602

Equity, bond, and money market mutual funds
held in trust related to the Voluntary Savings Plan(2)
2,795

 
3,035

 
$
15,896

 
$
15,637

 
(1)
Included in cash and cash equivalents.
(2)
Nonqualified deferred compensation plan investments consist of U.S. and international equity mutual funds, government and corporate bond mutual funds, and money market funds which are held in a trust with a third-party brokerage firm. Quoted market prices are used to determine fair values of the investments which are included in other long-term assets, with a corresponding liability reported within other long-term liabilities.