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Fair Value Measurements
 3 Months Ended
Mar. 31, 2012
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]
 
Note 2—Fair Value Measurements
 
The following table presents the balance of assets at March 31, 2012 measured at fair value on a recurring basis:
 
   
Level 1 (1)
    
Level 2 (2)
    
Level 3 (3)
    
Total
  
   
(in thousands)
  
Assets:
                        
Derivative contracts
   $ —     $ 27     $ —     $ 27  
 
(1) – quoted prices in active markets for identical assets or liabilities
(2) – observable inputs other than quoted prices in active markets for identical assets and liabilities
(3) – no observable pricing inputs in the market
 
There were no liabilities at March 31, 2012 measured at fair value on a recurring basis.
 
The Company’s derivative contracts consist of electricity call options in which the underlying asset is a forward contract, which are classified as Level 2. These derivatives are valued using observable inputs based on quoted market prices in active markets for similar call options.
 
The following tables summarize the change in the balance of the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
 
   
Three Months Ended
March 31,
  
   
2012
    
2011
  
   
(in thousands)
  
Balance, beginning of period
   $ —     $ (980 )
Total gains (losses) (realized or unrealized):
                
Included in earnings in “Other (expense) income, net”
     —       —  
Included in earnings in “Selling, general and administrative” expense
     —       85  
                 
Balance, end of period
   $ —     $ (895 )
                 
The amount of total gains (losses) for the period attributable to the change in unrealized gains or losses relating to liabilities still held at the end of the period:
                
   Included in earnings in “Other (expense) income, net”
   $ —     $ —  
                 
Included in earnings in “Selling, general and administrative” expense
   $ —     $ 85  
 
There were no assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2012 and 2011.
 
Fair Value of Other Financial Instruments
 
The estimated fair value of the Company’s other financial instruments has been determined using available market information or other appropriate valuation methodologies. However, considerable judgment is required in interpreting this data to develop estimates of fair value. Consequently, the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. At March 31, 2012 and December 31, 2011, the carrying value of the Company’s financial instruments included in prepaid expenses, other current assets, accrued expenses, income taxes payable, dividends payable, due to IDT Corporation, and other current liabilities approximate fair value because of the short period of time to maturity.