Investments

9 Months Ended

Sep. 30, 2013

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS

The Company’s investments, primarily in Brazil, consist of certificates of deposit and U.S. dollar indexed bond funds, which are classified as available-for-sale and stated at fair value based upon quoted market prices and net asset values, respectively. Unrealized gains and losses are recorded in AOCI. Realized gains and losses are recognized in investment income and are determined using the specific identification method. Realized gains, net from the sale of securities were $1,533 and $1,728 for the three months ended September 30, 2013 and 2012, respectively, and $1,725 and $3,236 for the nine months endedSeptember 30, 2013 and 2012, respectively. Proceeds from the sale of available-for-sale securities were $22,711 and $33,437 during the nine months endedSeptember 30, 2013 and 2012, respectively.

The Company’s investments, excluding cash surrender value of insurance contracts of $69,729 and $70,318 as of September 30, 2013 and December 31, 2012, respectively, consist of the following:

	Cost Basis		Unrealized Gain			Fair Value
As of September 30, 2013
Short-term investments:
Certificates of deposit	$	160,286	$	—		$	160,286
U.S. dollar indexed bond funds	37,498		1,919			39,417
	$	197,784	$	1,919	....	$	199,703
Long-term investments:
Assets held in a rabbi trust	$	5,867	$	1,269		$	7,136
As of December 31, 2012
Short-term investments:
Certificates of deposit	$	258,518	$	—		$	258,518
U.S. dollar indexed bond funds	3,249		119			3,368
	$	261,767	$	119		$	261,886
Long-term investments:
Assets held in a rabbi trust	$	6,266	$	517		$	6,783