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Fair Value
 6 Months Ended
Jun. 30, 2011
Fair Value Disclosures [Abstract]  
Fair Value
7)      Fair Value

We follow fair value measurement authoritative guidance for all assets and liabilities measured at fair value.  That guidance establishes a fair value hierarchy that prioritizes the inputs the Company uses to measure fair value based on the significance level of the following inputs:

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Level 1 - Unadjusted quoted prices are available in active markets for identical assets or liabilities.
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Level 2 - Pricing inputs, other than quoted prices within Level 1, which are either directly or indirectly observable.
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Level 3 - Pricing inputs that are unobservable requiring the Company to use valuation methodologies that result in management's best estimate of fair value.

Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the nonfinancial assets and liabilities and their placement in the fair value hierarchy levels.  As of June 30, 2011, we held $1.1 million of investments in government securities and marketable securities.  The fair value of our commodity risk management liabilities and other accrued liabilities are determined using discounted cash flow methodologies based on inputs that are not readily available in public markets.  The fair values of our property held for sale is determined based on anticipated future cash flows, cost and comparables to the extent they are available, less selling costs.  The fair values of our other accrued liabilities that are reflected on the balance sheet are detailed below.  The other accrued liabilities are the long term portion of the executive retirement program.
 
 
   
(In thousands)
 
      
Fair Value Measurements at June 30, 2011 Using
 
   
June 30
  
Quoted Prices in Active Markets for Identical Assets
  
Significant Other Observable Inputs
  
Significant Unobservable Inputs
 
Description
 
2011
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
              
Available for sale securities
 $1,106  $1,106  $--  $-- 
Assets held for sale
  20,979   --   --   20,979 
                  
Total assets
 $22,085  $1,106  $--  $20,979 
                  
Commodity risk management liability
 $827  $--  $827  $-- 
Liabilities held for sale
  226   --   226   -- 
Other accrued liabilities
  895   --   --   895 
                  
Total
 $1,948  $--  $1,053  $895 
                  

The following table summarizes, by major security type, the fair value and any unrealized gain of our available for sale securities.  The unrealized gain is recorded on the condensed consolidated balance sheets as other comprehensive income, a component of shareholders' equity.  Other accrued liabilities increased by approximately $48,000 to $895,000 at June 30, 2011 as a result of accretion of the liability.

   
(In thousands)
 
June 30, 2011
                  
   
Less Than 12 Months
  
12 Months or Greater
  
Total
 
      
Unrealized
     
Unrealized
     
Unrealized
 
Description of Securities
 
Fair Value
  
Gain
  
Fair Value
  
Gain
  
Fair Value
  
Gain
 
                    
Available for sale securities
 $937  $579  $--  $--  $937  $579 
                          
Total
 $937  $579  $--  $--  $937  $579 
                          

Our other financial instruments include cash and cash equivalents, accounts receivable, accounts payable, other current liabilities and long-term debt.  The carrying amount of cash and cash equivalents, accounts receivable, accounts payable and other current liabilities approximate fair value because of their immediate or short-term maturities.  The carrying value of our debt approximates its fair market value since interest rates have remained generally unchanged from the issuance of the debt.  The fair value and carrying value of our debt was $13.6 million as of June 30, 2011.