Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of assets measured at fair value on a recurring basis

As of June 30, 2013 and December 31, 2012, the Company held certain assets that are required to be measured at fair value on a recurring basis. Assets measured at fair value on a recurring basis are summarized below (in thousands):

	Fair Value Measurements as of June 30, 2013
	Total		Level 1		Level 2		Level 3

Marketable Securities
Bond and bond fund	$	505,293	$	—	$	505,293	$	—
Asset backed securities	223		—		223		—
	505,516		—		505,516		—

Cash, Cash Equivalents and Restricted Cash	160,105		160,105		—		—
Other Assets (a)	2,248		—		—		2,248
Total Assets Measured at Fair Value	$	667,869	$	160,105	$	505,516	$	2,248

	Fair Value Measurements as of December 31, 2012
	Total		Level 1		Level 2		Level 3

Marketable Securities
Bonds and bond funds	$	552,289	$	—	$	552,289	$	—
Commercial paper	3,514				3,514
Asset backed securities	314		—		314		—
	556,117		—		556,117		—

Cash, Cash Equivalents and Restricted Cash	153,325		153,325		—		—
Other Assets	3,844		—		—		(a) 3,844
Total Assets Measured at Fair Value	$	713,286	$	153,325	$	556,117	$	3,844

(a) Auction rate securities included in “Other assets” in the unaudited Consolidated Balance Sheet

Schedule of fair value measurements using significant unobservable inputs

The following table presents the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at June 30, 2013 (in thousands):

Fair Value Measurements Using Significant Unobservable Inputs

(Level 3)

	Auction Rate Securities
Balance at January 1, 2013	$	3,844
Total realized and unrealized gains or (losses)
Included in earnings	—
Included in other comprehensive income	(68		)
Transferred out	—
Settlements	(1,528		)
Balance at June 30, 2013	$	2,248

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by 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 (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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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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