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Financial Instruments
12 Months Ended
Dec. 31, 2011
Financial Instruments [Abstract]  
FINANCIAL INSTRUMENTS
5. FINANCIAL INSTRUMENTS

 

Fair Value of Financial Instruments

 

The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value:

 

Cash and advances to affiliate - The carrying amounts of these items approximates their fair value.

 

Long-term debt - The fair value of our publicly traded long-term debt is valued using indicative period-end traded bond market prices. The carrying amount and estimated fair value of our long-term debt, including current maturities, were $693.8 million and $826.3 million, respectively, at December 31, 2011, and $693.6 million and $796.1 million, respectively, at December 31, 2010.