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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2014
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS |
Schedule of financial instruments and the methods and assumptions used in estimating fair value disclosures |
|  | June 30 |  | December 31 |
|  | 2014 |  | 2013 |
|  | (in thousands) |
Cash and cash equivalents |  |  |  |  |
Cash deposits(1) |  | $ | 62,863 |  | $ | 63,547 |
Variable rate demand notes(1)(2) |  | 29,786 |  | 29,706 |
Money market funds(3) |  | 36,501 |  | 12,101 |
|  | $ | 129,150 |  | $ | 105,354 |
Short-term investments |  |  |  |  |
Certificates of deposit(1) |  | $ | 36,015 |  | $ | 35,906 |
Restricted cash, cash equivalents, and short-term investments(4) |  |  |  |  |
Cash deposits(1) |  | $ | 1,385 |  | $ | 1,902 |
(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 E).
Schedule of financial instruments disclosed at fair value |
|  | June 30 |  | December 31 |
|  | 2014 |  | 2013 |
|  | (in thousands) |
|  | Carrying |  | Fair |  | Carrying |  | Fair |
|  | Value |  | Value |  | Value |  | Value |
Term loan(1) |  | $ | 77,500 |  | $ | 77,500 |  | $ | 83,750 |  | $ | 83,750 |
Notes payable(2) |  | 36,851 |  | 36,920 |  | 22,082 |  | 22,092 |
|  | $ | 114,351 |  | $ | 114,420 |  | $ | 105,832 |  | $ | 105,842 |
(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 |
|  | June 30 |  | December 31 |
|  | 2014 |  | 2013 |
|  | (in thousands) |
Money market funds(1) |  | $ | 36,501 |  | $ | 12,101 |
Equity, bond, and money market mutual funds held in trust related to the Voluntary Savings Plan(2) |  | 2,799 |  | 3,063 |
|  | $ | 39,300 |  | $ | 15,164 |
(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.

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- 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). + 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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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. + 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
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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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