8.	Equity and Other Investments

The Company’s equity and cost investments as of September 30, 2012, and December 31, 2011, consisted of the following (in thousands):


	September 30, 2012		December 31, 2011

Equity investment	$	7,506	$	13,210

Cost investment		—		1,703

Equity and other investments	$	7,506	$	14,913

The Company’s 49.5% investment in Scarborough Research (“Scarborough”), a Delaware general partnership, is accounted for using the equity method of accounting. During the month ended July 31, 2012, the Company sold its $1.7 million preferred stock investment in TRA Global, Inc. (“TRA”). Prior to the sale, the TRA investment was accounted for using the cost method of accounting. The proceeds from the sale were approximately equal to the investment’s carrying value. Cash proceeds received from the sale amounted to approximately $1.5 million as of September 30, 2012, with an additional $0.2 million deposited in escrow. The escrow funds will be released to the Company in January 2014, less any claims paid from the escrow account. The escrow fund deposit is recorded on the Company’s balance sheet as a portion of the Company’s non-current assets.

The following table shows the investment activity and balances for each of the Company’s investments for the three and nine-month periods ended September 30, 2012, and 2011 (in thousands):


	Three-Month Period									Three-Month Period
	September 30, 2012									September 30, 2011
	Scarborough			TRA			Total			Scarborough			TRA		Total
Beginning balance	$	11,945		$	1,703		$	13,648		$	12,076		$	5,180	$	17,256
Investment in affiliate loss		(2,364	)		—			(2,364	)		(2,290	)		—		(2,290	)
Distributions from investee		(2,075	)		—			(2,075	)		(2,150	)		—		(2,150	)
Proceeds from sale of investment		—			(1,466	)		(1,466	)		—			—		—
Receivable from sale of investment		—			(214	)		(214	)		—			—		—
Loss on sale of investment		—			(23	)		(23	)		—			—		—

Ending balance	$	7,506		$	—		$	7,506		$	7,636		$	5,180	$	12,816


	Nine-Month Period									Nine-Month Period
	September 30, 2012									September 30, 2011
	Scarborough			TRA			Total			Scarborough			TRA		Total
Beginning balance	$	13,210		$	1,703		$	14,913		$	13,205		$	5,180	$	18,385
Investment in affiliate income		671			—			671			631			—		631
Distributions from investee		(6,375	)		—			(6,375	)		(6,200	)		—		(6,200	)
Proceeds from sale of investment		—			(1,466	)		(1,466	)		—			—		—
Receivable from sale of investment		—			(214	)		(214	)		—			—		—
Loss on sale of investment		—			(23	)		(23	)		—			—		—

Ending balance	$	7,506		$	—		$	7,506		$	7,636		$	5,180	$	12,816