Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes financial assets and liabilities measured at fair value on a recurring basis:

	December 31, 2012							December 31, 2011
(In Thousands)	Level 1		Level 2			Level 3		Level 1		Level 2			Level 3
Deferred Compensation Liability	$	—	$	(9,518	)	$	—	$	—	$	(6,291	)	$	—

Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes assets measured at fair value on a nonrecurring basis:

	December 31, 2012						December 31, 2011
(In Thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets Held for Sale	$	—	$	11,104	$	—	$	—	$	9,885	$	—

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:

	December 31, 2012							December 31, 2011
(In Thousands)	Level 1		Level 2			Level 3		Level 1		Level 2			Level 3
Corporate Bonds 1	$	—	$	67,470		$	—	$	—	$	81,594		$	—
Perfect Home Bonds 2		—		—			18,449		—		—			15,889
Fixed-Rate Long Term Debt 3		—		(127,261	)		—		—		(135,031	)		—

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 bonds were initially valued at cost. The Company periodically reviews the valuation utilizing company-specific transactions or deterioration in the company’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 and fair value of fixed-rate long term debt at December 31, 2012 was $125.0 million and $127.3 million, respectively, and $137.0 million and $135.0 million, respectively, at December 31, 2011.

Investments Classified as Held to Maturity Securities

At December 31, 2012 and 2011, investments classified as held-to-maturity securities consisted of the following:

			Gross Unrealized
(In Thousands)	Amortized Cost		Gains		Losses			Fair Value
2012
Corporate Bonds	$	67,412	$	99	$	(41	)	$	67,470
Perfect Home Bonds		18,449		—		—			18,449
Total	$	85,861	$	99	$	(41	)	$	85,919
2011
Corporate Bonds	$	82,243	$	15	$	(664	)	$	81,594
Perfect Home Bonds		15,889		—		—			15,889
Total	$	98,132	$	15	$	(664	)	$	97,483

Amortized Cost and Fair Value of Held to Maturity Securities

The amortized cost and fair value of held-to-maturity securities by contractual maturity as of December 31, 2012 are as follows:

(In Thousands)	Amortized Cost		Fair Value
Due in one year or less	$	43,482	$	43,547
Due in years one through two		42,379		42,372
Total	$	85,861	$	85,919

Held to Maturity Securities with Gross Unrealized Losses

Information pertaining to held-to-maturity securities with gross unrealized losses is as follows. All of the securities have been in a continuous loss position for less than 12 months.

	December 31, 2012					December 31, 2011
(In Thousands)	Fair Value		Gross  Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate Bonds	$	22,785	$	(41	)	$	72,315	$	(664	)