FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2013

Available-For-Sale Securities Measured at Fair Value

The following is a summary of our available-for-sale securities measured at fair value:


	12/31/13		Level 1		Level 2		Level 3
	(In thousands)
Mutual funds	$	2,173	$	—	$	2,173	$	—
Commercial paper		3,699		—		3,699		—
Asset-backed securities and collateralized mortgage obligations		7,639		—		2,082		5,557

Total	$	13,511	$	—	$	7,954	$	5,557


	12/31/12		Level 1		Level 2		Level 3
	(In thousands)
Mutual funds	$	2,023	$	—	$	2,023	$	—
U.S. Government and agency securities		29,737		—		29,737		—
Asset-backed securities and collateralized mortgage obligations		8,477		—		2,134		6,343
Corporate notes and bonds		5,755		—		5,755		—

Total	$	45,992	$	—	$	39,649	$	6,343

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 years ended December 31, 2013 and 2012:


	December 31,
	2013			2012
	(In thousands)
Balance at beginning of period	$	6,343		$	6,030
Total realized and unrealized gains		484			1,674
Principal repayments		(1,270	)		(1,361	)

Balance at end of period	$	5,557		$	6,343

Estimated Fair Values of Financial Instruments

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


	December 31, 2013						December 31, 2012
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
	(In thousands)
Balance Sheet Instruments
Cash and cash equivalents	$	118,702		$	118,702		$	640,147		$	640,147
Restricted cash and cash equivalents	$	23,652		$	23,652		$	18,116		$	18,116
Investments	$	13,511		$	13,511		$	45,992		$	45,992
Debt	$	(88,562	)	$	(90,005	)	$	(102,708	)	$	(106,324	)
Derivative contracts	$	(28,767	)	$	(28,767	)	$	21,434		$	21,434

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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