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Financial Instruments
 6 Months Ended
Jun. 30, 2011
Financial Instruments  
Financial Instruments

Note 9 – Financial instruments:

The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure:

 

     December 31,
2010		      June 30,
2011		  
     Carrying
amount		      Fair
value		      Carrying
amount		      Fair
value		  
     (In thousands)  

Cash and cash equivalents

    $ 13,919       $ 13,919       $ 5,149       $ 5,149   

Accounts receivable, net

      14,601         14,601         17,630         17,630   

Promissory note receivable

      15,000         15,000         15,000         15,000   

Accounts payable

      4,890         4,890         5,660         5,660   

Long-term debt (including current maturities)

      45,230         45,230         37,730         37,730   

Due to their near-term maturities, the carrying amounts of accounts receivable and accounts payable are considered equivalent to fair value. The fair values of our variable-rate promissory note receivable and long-term debt are deemed to approximate book value. The fair values of our promissory note receivable and long-term debt are Level 2 inputs as defined by ASC Topic 820-10-35.