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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2011
Fair Value Disclosures [Abstract]  
Available-for-sale Securities [Table Text Block]
Details of available-for-sale securities were as follows:

December 31, 2011
Cost

Gross Unrealized Gains

Gross Unrealized Losses

Fair Value

 
(In thousands)
Insurance investment contract
$
31,884

$
6,468

$

$
38,352

Auction rate securities
11,400



11,400

Mortgage-backed securities
8,206

95

(5
)
8,296

U.S. Treasury securities
1,619

37


1,656

Total
$
53,109

$
6,600

$
(5
)
$
59,704

Assets and liabilities measured at fair value on a recurring basis
The Company's assets and liabilities measured at fair value on a recurring basis are as follows:

 
Fair Value Measurements at
December 31, 2011, Using
 
 
 
Quoted Prices in Active Markets for Identical Assets (Level 1)

 
Significant Other Observable Inputs (Level 2)

 
Significant Unobservable Inputs
 (Level 3)

 
Balance at December 31, 2011

 
(In thousands)
Assets:
 
 
 
 
 
 
 
Money market funds
$

 
$
97,500

 
$

 
$
97,500

Available-for-sale securities:
 

 
 

 
 

 
 

Insurance investment contract*

 
38,352

 

 
38,352

Auction rate securities

 
11,400

 

 
11,400

Mortgage-backed securities

 
8,296

 

 
8,296

U.S. Treasury securities

 
1,656

 

 
1,656

Commodity derivative instruments - current

 
27,687

 

 
27,687

Commodity derivative instruments - noncurrent

 
2,768

 

 
2,768

Total assets measured at fair value
$

 
$
187,659

 
$

 
$
187,659

Liabilities:
 

 
 

 
 

 
 

Commodity derivative instruments - current
$

 
$
13,164

 
$

 
$
13,164

Commodity derivative instruments - noncurrent

 
937

 

 
937

Interest rate derivative instruments - current

 
827

 

 
827

Interest rate derivative instruments - noncurrent

 
3,935

 

 
3,935

Total liabilities measured at fair value
$

 
$
18,863

 
$

 
$
18,863

* The insurance investment contract invests approximately 33 percent in common stock of mid-cap companies, 34 percent in common stock of small-cap companies, 32 percent in common stock of large-cap companies and 1 percent in cash and cash equivalents.


 
Fair Value Measurements at
December 31, 2010, Using
 
 
 
Quoted Prices in Active Markets for Identical Assets
 (Level 1)

 
Significant Other Observable Inputs (Level 2)

 
Significant Unobservable Inputs
 (Level 3)

 
Balance at December 31, 2010

 
(In thousands)
Assets:
 
 
 
 
 
 
 
Money market funds
$

 
$
166,620

 
$

 
$
166,620

Available-for-sale securities:
 
 
 
 
 
 
 
Insurance investment contract*

 
39,541

 

 
39,541

Auction rate securities

 
11,400

 

 
11,400

Commodity derivative instruments - current

 
15,123

 

 
15,123

Commodity derivative instruments - noncurrent

 
4,104

 

 
4,104

Total assets measured at fair value
$

 
$
236,788

 
$

 
$
236,788

Liabilities:
 

 
 

 
 

 
 

Commodity derivative instruments - current
$

 
$
24,428

 
$

 
$
24,428

Commodity derivative instruments - noncurrent

 
6,483

 

 
6,483

Total liabilities measured at fair value
$

 
$
30,911

 
$

 
$
30,911

* The insurance investment contract invests approximately 35 percent in common stock of mid-cap companies, 33 percent in common stock of small-cap companies, 31 percent in common stock of large-cap companies and 1 percent in cash and cash equivalents.


Fair value of long term debt outstanding
The estimated fair value of the Company's long-term debt at December 31 was as follows:

 
2011
 
2010
 
Carrying Amount

 
Fair Value

 
Carrying Amount

 
Fair Value

 
(In thousands)
Long-term debt
$
1,424,678

 
$
1,592,807

 
$
1,506,752

 
$
1,621,184