Fair Value Measurement

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

Fair Value Measurement

12. Fair Value Measurement

The following tables set forth the Company's liabilities that are measured at fair value on a recurring basis at the dates indicated.

				Fair Value Measurements Using Fair Value Hierarchy
		Fair Value as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
		December 31, 2011		(Level 1)		(Level 2)		(Level 3)
		(In thousands)
Liabilities:
	Interest-rate swap derivatives	$	4,148	$	-	$	4,148	$	-
	Total	$	4,148	$	-	$	4,148	$	-
				Fair Value Measurements Using Fair Value Hierarchy
		Fair Value as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
		December 31, 2010		(Level 1)		(Level 2)		(Level 3)
		(In thousands)
Liabilities:
	Interest-rate swap derivatives	$	24,346	$	-	$	24,346	$	-
	Total	$	24,346	$	-	$	24,346	$	-

The Company's Level 2 interest-rate swap derivative instruments are valued using pricing models based on an income approach that discounts future cash flows to a present value amount. The significant pricing model inputs for interest-rate swaps include published rates for U.S. Dollar LIBOR interest rate swaps. The pricing model also adjusts for nonperformance risk associated with the counterparty or Company, as applicable, through the use of credit risk adjusted discount rates based on published default rates. The Company did not have any Level 3 instruments measured at fair value at December 31, 2011 or December 31, 2010.

The approximate fair value of the Company's cash and cash equivalents, accounts receivable and accounts payable is equal to book value, due to this short-term nature.