Investment Securities (Notes)

3 Months Ended

Mar. 31, 2013

Investments, All Other Investments [Abstract]

Investment Securities

Investment Securities

The following table details the unrealized gains and losses on investment securities as of March 31, 2013 and December 31, 2012 (amounts in thousands):

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities as of March 31, 2013	$	4	$	—	$	—		$	4
Preferred securities as of December 31, 2012	$	41,747	$	223	$	(316	)	$	41,654

At December 31, 2012, the Company had investments in redeemable preferred stock and senior notes, accounted for as debt securities, with a fair value of $41.7 million. These investment securities were sold during the three months endedMarch 31, 2013, resulting in a gain on sale of investments of $0.5 million.

Investments were considered available-for-sale securities and therefore increases or decreases in the fair value of these investments are recorded in accumulated other comprehensive income as a component of equity on the consolidated balance sheets unless the securities are considered to be permanently impaired at which time the losses are reclassified to expense.