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Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2012
Fair Value of Financial Instruments [Abstract]  
Fair Value of Financial Instruments
17.
Fair Value of Financial Instruments
 
We follow a three-level fair value hierarchy that prioritizes the inputs to measure fair value.  This hierarchy requires entities to maximize the use of "observable inputs" and minimize the use of "unobservable inputs."  The three levels of inputs used to measure fair value are as follows:
 
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets as of the measurement date.
 
Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.
 
Level 3: Significant unobservable inputs that reflect assumptions that market participants would use in pricing an asset or liability.
 
The following is a summary of the carrying amounts and estimated fair values of our financial instruments at December 31, 2012 and 2011 (in thousands):
 
   
December 31, 2012
  
December 31, 2011
 
   
Carrying
Amount
  
Fair Value
  
Carrying
Amount
  
Fair Value
 
              
Cash and cash equivalents
 $13,074  $13,074  $10,871  $10,871 
Deferred compensation
  6,678   6,678   5,882   5,882 
Short term borrowings
  40,573   40,573   73,109   73,109 
Long-term debt
  75   75   190   190 
 
For fair value purposes the carrying value of cash and cash equivalents approximates fair value due to the short maturity of those investments.  The fair value of the underlying assets held by the deferred compensation plan are based on the quoted market prices of the funds in registered investment companies, which are considered Level 1 inputs.  The carrying value of our revolving credit facilities, classified as short term borrowings, equals fair market value because the interest rate reflects current market rates.