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Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2012

	March 31, 2012
	Amortized Cost		Unrealized Gains		Unrealized (Losses)		Aggregate Fair Value
U.S. government and agency obligations	$	2,212,101	$	10,111	$	(1,680)	$	2,220,532
U.S. corporate debt securities		1,371,048		11,498		(475)		1,382,071
High yield corporate debt securities		451,107		21,441		(3,199)		469,349
Asset-backed securities		42,766		105		(15)		42,856
Municipal obligations		898,319		2,316		(655)		899,980
Auction rate securities		82,675		0		(4,278)		78,397
Foreign debt securities		1,026,224		6,708		(318)		1,032,614
Total fixed income securities		6,084,240		52,179		(10,620)		6,125,799
Publicly traded equity securities		58,059		23,510		0		81,569
Total	$	6,142,299	$	75,689	$	(10,620)	$	6,207,368

	December 31, 2011
	Amortized Cost		Unrealized Gains		Unrealized (Losses)		Aggregate Fair Value
U.S. government and agency obligations	$	2,474,029	$	12,420	$	(1,488)	$	2,484,961
U.S. corporate debt securities		1,400,373		9,953		(2,573)		1,407,753
High yield corporate debt securities		442,723		12,498		(7,742)		447,479
Asset-backed securities		29,101		72		(25)		29,148
Municipal obligations		814,657		2,021		(597)		816,081
Auction rate securities		82,900		0		(8,304)		74,596
Foreign debt securities		984,696		5,185		(2,807)		987,074
Total fixed income securities		6,228,479		42,149		(23,536)		6,247,092
Publicly traded equity securities		58,199		6,802		0		65,001
Total	$	6,286,678	$	48,951	$	(23,536)	$	6,312,093

Fair Value Hierarchy For Financial Assets And Liabilities Measured At Fair Value

	Level 1		Level 2		Level 3		Total
Cash	$	1,821,521	$	-	$	-	$	1,821,521
Cash equivalents		2,796,165		53,489		-		2,849,654
U.S. government and agency obligations		1,130,349		1,090,183		-		2,220,532
U.S. corporate debt securities		-		1,382,071		-		1,382,071
High yield corporate debt securities		-		469,349		-		469,349
Asset-backed securities		-		42,856		-		42,856
Municipal obligations		-		899,980		-		899,980
Auction rate securities		-		-		78,397		78,397
Foreign debt securities		-		1,032,614		-		1,032,614
Publicly traded equity securities		81,569		-		-		81,569
Total cash and investments	$	5,829,604	$	4,970,542	$	78,397	$	10,878,543
Other items:
Strategic investments held at cost	$	-	$	-	$	203,847	$	203,847
Convertible debt		-		(3,191,887)		-		(3,191,887)
Foreign exchange derivative assets		-		42,778		-		42,778
Foreign exchange derivative liabilities		-		(32,291)		-		(32,291)
Commodity derivative liabilities		-		(5,410)		-		(5,410)
Interest rate swap contracts		-		(3,831)		-		(3,831)

Changes in Fair Value of Level 3 Financial Assets

	Three Months Ended
	March 31, 2012
Balance, beginning of the period	$	74,596
Calls at par value		(225)
Decrease in previously recognized unrealized losses included in other
comprehensive income		4,026
Balance, end of the period	$	78,397

Unrealized Losses on Investments by Investment Category and Length of Time in Continuous Unrealized Loss Position

	Less Than 12 Months		12 Months or Greater		Total
		Gross		Gross		Gross
		Unrealized		Unrealized		Unrealized
	Fair Value	Losses	Fair Value	Losses	Fair Value	Losses
U.S. government and agency obligations	$ 862,747	$ (1,651)	$ 1,482	$ (29)	$ 864,229	$ (1,680)
U.S. corporate debt securities	254,514	(475)	-	-	254,514	(475)
High yield corporate debt securities	64,144	(2,818)	1,689	(381)	65,833	(3,199)
Asset-backed securities	12,391	(14)	5	(1)	12,396	(15)
Municipal obligations	287,508	(655)	-	-	287,508	(655)
Auction rate securities	-	-	78,397	(4,278)	78,397	(4,278)
Foreign debt securities	169,025	(318)	-	-	169,025	(318)
Total	$ 1,650,329	$ (5,931)	$ 81,573	$ (4,689)	$ 1,731,902	$ (10,620)

Contractual Maturities of Investments

	March 31, 2012
	Amortized		Aggregate
	Cost Basis		Fair Value
Due within one year	$	1,658,223	$	1,662,038
Due after 1 year through 5 years		3,654,373		3,677,387
Due after 5 years through 10 years		440,857		456,844
Due after 10 years		330,787		329,530
Total	$	6,084,240	$	6,125,799

- 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, 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, issuances, 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.

+ References+ Details

- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), 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); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258

+ Details