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Fair Value Measurement (Tables)
 3 Months Ended
Mar. 31, 2014
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table summarizes financial liabilities measured at fair value on a recurring basis: 
(In Thousands)
March 31, 2014
 
December 31, 2013
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
Deferred Compensation Liability
$
—

 
$
(12,608
)
 
$
—

 
$
—

 
$
(12,557
)
 
$
—
Assets Measured at Fair Value on Nonrecurring Basis
The following table summarizes non-financial assets measured at fair value on a nonrecurring basis: 
(In Thousands)
March 31, 2014
 
December 31, 2013
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
Assets Held for Sale
$
—

 
$
6,429

 
$
—

 
$
—

 
$
15,840

 
$
—
Fair Value of Assets (Liabilities) Not Measured at Fair Value In Consolidated Balance Sheets
The following table summarizes the fair value of assets (liabilities) that are not measured at fair value in the consolidated balance sheets, but for which the fair value is disclosed: 
(In Thousands)
March 31, 2014
 
December 31, 2013
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
Corporate Bonds1
$
—

 
$
85,324

 
$
—

 
$
—

 
$
91,785

 
$
—

Perfect Home Notes2
—

 
—

 
21,251

 
—

 
—

 
20,661

Fixed-Rate Long Term Debt3
—

 
(130,139
)
 
—

 
—

 
(130,687
)
 
—


1 
The fair value of corporate bonds is determined through the use of model-based valuation techniques for which all significant assumptions are observable in the market.

2 
The Perfect Home notes were initially valued at cost. The Company periodically reviews the valuation utilizing company-specific transactions or changes in Perfect Home’s financial performance to determine if fair value adjustments are necessary.

3 
The fair value of fixed-rate long term debt is estimated using the present value of underlying cash flows discounted at a current market yield for similar instruments. The carrying value of fixed-rate long term debt was $125.0 million at March 31, 2014 and December 31, 2013.
Investments Classified as Held to Maturity Securities
At March 31, 2014 and December 31, 2013, investments classified as held-to-maturity securities consisted of the following: 
 
 
 
Gross Unrealized
 
 
(In Thousands)
Amortized Cost
 
Gains
 
Losses
 
Fair Value
March 31, 2014
 
 
 
 
 
 
 
Corporate Bonds
$
85,190

 
$
159

 
$
(25
)
 
$
85,324

Perfect Home Notes
21,251

 
—

 
—

 
21,251

Total
$
106,441

 
$
159


$
(25
)

$
106,575

December 31, 2013
 
 
 
 
 
 
 
Corporate Bonds
$
91,730

 
$
98

 
$
(43
)
 
$
91,785

Perfect Home Notes
20,661

 
—

 
—

 
20,661

Total
$
112,391

 
$
98

 
$
(43
)
 
$
112,446
Amortized Cost and Fair Value of Held to Maturity Securities
The amortized cost and fair value of held-to-maturity debt securities by contractual maturity at March 31, 2014 are as follows: 
(In Thousands)
Amortized Cost
 
Fair Value
Due in one year or less
$
67,460

 
$
67,527

Due in years one through two
38,981

 
39,048

Total
$
106,441

 
$
106,575
Held to Maturity Securities with Gross Unrealized Losses
Information pertaining to held-to-maturity debt securities with gross unrealized losses is as follows: 
 
Less than 12 months
 
12 months or longer
 
Total
(In Thousands)
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Corporate Bonds
$
9,763

 
$
(14
)
 
$
5,163

 
$
(11
)
 
$
14,926

 
$
(25
)
December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
Corporate Bonds
$
28,839

 
$
(40
)
 
$
2,614

 
$
(3
)
 
$
31,453

 
$
(43
)