FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Available-For-Sale Securities Measured at Fair Value

The following tables summarize our available-for-sale securities measured at fair value:

	June 30, 2012		Level 1		Level 2		Level 3
	(Unaudited) (In thousands)
Mutual funds(1)	$	1,960	$	—	$	1,960	$	—
Commercial paper		64,457		—		64,457		—
Asset-backed securities and collateralized mortgage obligations(2)		8,452		—		2,114		6,338
Corporate notes and bonds(3)		5,762		—		5,762		—
Total	$	80,631	$	—	$	74,293	$	6,338
	December 31, 2011		Level 1		Level 2		Level 3
	(In thousands)
Mutual funds	$	1,923	$	—	$	1,923	$	—
Commercial paper		123,210		—		123,210		—
Asset-backed securities and collateralized mortgage obligations		8,131		—		2,101		6,030
Corporate notes and bonds		5,742		—		5,742		—
Total	$	139,006	$	—	$	132,976	$	6,030

(1) Various U.S. equities and other investments managed under mutual funds.

(2) Asset-backed and mortgage-backed securities with maturities of up to 26 years.

(3) Corporate notes and bonds with maturities of three years or less.

Changes in Level Three Instrument Measured on Recurring Basis

The following is a summary of the changes in our Level 3 instrument measured on a recurring basis for the three-month and six-month periods ended June 30, 2012 and 2011:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Unaudited) (In thousands)
Balance at beginning of period	$	6,177		$	7,503		$	6,030		$	7,372
Total realized and unrealized gains (losses)		456			(39	)		898			465
Principal repayments		(295	)		(392	)		(590	)		(765	)
Balance at end of period	$	6,338		$	7,072		$	6,338		$	7,072

Available-for-Sale Securities with Unrealized Losses Greater Than Twelve Months

The following is a summary of our available-for-sale securities with unrealized losses greater than twelve months:

	Twelve Months or Greater
	Fair Value		Unrealized Losses
June 30, 2012	(Unaudited) (In thousands)
Mutual funds	$	1,960	$	—
Commercial paper		64,457		—
Asset-backed securities and collateralized mortgage obligations		8,452		(3,289	)
Corporate notes and bonds		5,762		—
Total	$	80,631	$	(3,289	)

	Twelve Months or Greater
	Fair Value		Unrealized Losses
December 31, 2011	(In thousands)
Mutual funds	$	1,923	$	—
Commercial paper		123,210		—
Asset-backed securities and collateralized mortgage obligations		8,131		(4,358	)
Corporate notes and bonds		5,742		—
Total	$	139,006	$	(4,358	)

Estimated Fair Values of Financial Instruments

The estimated fair values of certain of our financial instruments are as follows:

	June 30, 2012						December 31, 2011
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
	(Unaudited)
	(In thousands)
Balance Sheet Instruments
Cash and cash equivalents	$	644,060		$	644,060		$	570,854		$	570,854
Restricted cash and cash equivalents	$	24,024		$	24,024		$	21,962		$	21,962
Investments	$	80,631		$	80,631		$	139,006		$	139,006
Debt	$	109,780		$	113,029		$	93,735		$	96,187
Forward contracts	$	(11,781	)	$	(11,781	)	$	(5,029	)	$	(5,029	)