Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Non Financial Assets Measured at Fair Value on Nonrecurring Basis

The Company’s non-financial assets measured at fair value on a nonrecurring basis were as follows at December 31, 2012 and 2011.


At December 31, 2012			Level 3		Fair Value December 31, 2012		Total Impairment Charge
Investment in real estate			$	300	$	300	$	2,551


At December 31, 2011	Level 2		Level 3		Fair Value December 31, 2011		Total Impairment Charge
Investment in real estate	$	1,224	$	93,127	$	94,351	$	377,270
Notes receivable		—		—		—		55

	$	1,224	$	93,127	$	94,351	$	377,325

Carrying Amount and Fair Value of Financial Instruments

The carrying amount and fair value of the Company’s financial instruments were as follows (the table below excludes financial instruments with carrying values that approximate their fair values):


	Note		December 31, 2012						December 31, 2011
	Note		Carrying value		Fair value		Level		Carrying value		Fair value		Level
Assets
Pledged treasury securities		7	$	26,818	$	30,432		1	$	23,299	$	32,394		1
Retained interest investment		9		9,481		12,727		3		10,707		13,202		3

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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