Other Assets

There were no investments reflected in other assets, net in the consolidated balance sheet at September 30, 2012 as the Company completed the liquidation of its holdings of equity securities during the third quarter of 2012. Investments reflected in other assets, net at December 31, 2011 was $30,113. These investments in equity securities were classified as available-for-sale.

The cost, gross unrealized gains, gross unrealized losses and fair value of the Company’s available-for-sale investments at December 31, 2011 were as follows:



	December 31, 2011
	Cost		Gross Unrealized Gains		Gross Unrealized Losses ⁽¹⁾			Fair Value
Available-for-sale equity securities	$	28,265	$	1,981	$	(133	)	$	30,113

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(1)	All unrealized loss positions were held at a loss for less than 12 months.

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As of December 31, 2011, an unrealized gain of $1,185, net of income tax expense of $663, was recorded in accumulated other comprehensive income. See Note 9 for the fair value hierarchy of the Company’s available-for-sale equity securities.

The proceeds from sales of available-for-sale equity securities and the gross realized gains included in the consolidated statements of operations are reflected in the table below. The cost of securities sold was determined using the specific identification method.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Proceeds from sales of available-for-sale equity securities	$	1,628	$	—	$	47,655	$	—
Gross realized gains	$	477	$	—	$	16,429	$	—

Amortization expense on other assets of $8,717 and $5,664 is included in the consolidated statements of operations for the three months ended September 30, 2012 and 2011, respectively. Amortization expense on other assets of $20,135 and $17,110 is included in the consolidated statements of operations for the nine months ended September 30, 2012 and 2011, respectively.