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Fair Value
 3 Months Ended
Mar. 31, 2012
Fair Value [Abstract]  
Fair Value
7)       Fair Value

We follow authoritative guidance regarding fair value measurements 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:
 
·Level 1 - Quoted prices (unadjusted) for identical assets or liabilities in active markets.
·Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and model-derived valuations whose inputs or significant value drivers are observable.
·Level 3 - Significant inputs to the valuation model are unobservable.

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 March 31, 2012, we held $179,000 of investments in marketable securities.  We determine our estimate of the fair value of derivate instruments using a market approach based on several factors, including quoted prices in active markets, and quotes from third parties.  The fair values of our other accrued liabilities that are reflected on the balance sheet are detailed below.  Other accrued liabilities decreased to $809,000 at March 31, 2012 as a result of payments of the liability.  The other accrued liabilities are the long term portion of the executive retirement program.

   
(In thousands)
 
      
Fair Value Measurements at March 31, 2012 Using
 
   
March 31
  
Quoted Prices in Active Markets for Identical Assets
  
Significant Other Observable Inputs
  
Significant Unobservable Inputs
 
Description
 
2012
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
              
Commodity risk management assets
 $101  $--  $101  $-- 
Available for sale securities
  179   179   --   -- 
                  
Total assets
 $280  $179  $101  $-- 
                  
Commodity risk management liability
 $758  $--  $758  $-- 
Other accrued liabilities
  809   --   --   809 
                  
Total
 $1,567  $--  $758  $809 
                  
 
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.

   
(In thousands)
 
March 31, 2012
                  
   
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
 $179  $150  $--  $--  $179  $150 
                          
Total
 $179  $150  $--  $--  $179  $150 
                          
 
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 $10.2 million as of March 31, 2012.