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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

The amounts reported on the consolidated balance sheets for cash and cash equivalents, accounts receivable and short-term debt approximate fair value. The following table sets forth the carrying value and fair value of long-term debt as of December 31:

 

                                 
    2012     2011  

In thousands

    
 		 Carrying
Value		   
  		     Fair Value      
 		 Carrying
Value		   
  		    
 		 Fair
Value		   
  

Fixed-rate bonds

   $ 250,000     $ 260,340     $ 200,000     $ 204,000  

Variable rate debt

     –       –       27,000       27,000  

Total

   $ 250,000     $ 260,340     $ 227,000     $ 231,000  

As of December 31, 2012, we had $250.0 million of 5.375% fixed rate debt, and as of December 31, 2011, we had $200.0 million of 7.125% fixed rate debt. These bonds are publicly registered, but thinly traded. Accordingly, the values set forth above are based on debt instruments with similar characteristics (Level 2). The fair value of financial derivatives is set forth below in Footnote 18.