Note 3 - Restricted Cash and Cash Equivalents and Restricted Investments Available for Sale

3 Months Ended

Mar. 31, 2012

Restricted Cash And Investments Current Item Description [Text Block]

3. Restricted Cash and Cash Equivalents and Restricted Investments Available for Sale

The Company collateralizes its lines of credit (non-Palladium) with the following (in thousands):

	March 31, 2012		December 31, 2011
Restricted cash and cash equivalents	$	20,967	$	13,449
Restricted investments available for sale:
U.S. Treasury Notes		0		5,007
Corporate Notes and Bonds		2,035		4,062
Accrued interest income		44		84
Total restricted investments available for sale		2,079		9,153
Total restricted cash and cash equivalents and restricted investments available for sale	$	23,046	$	22,602

The restricted investments are classified as available for sale and are stated at fair value.  At March 31, 2012, gross unrealized holding gains were $2,000 and at March 31, 2011, gross unrealized holding gains were $42,000 and gross unrealized holding losses were $14,000.  Comprehensive income decreased $2,000 and $15,000 for the three months ended March 31, 2012 and 2011, respectively.  The Company capitalizes any premiums paid or discounts received and amortizes the premiums or accretes the discounts on a straight-line basis over the remaining term of the security.  Investments by contractual maturities as of March 31, 2012 were as follows (in thousands):

Within one year	$	2,079
After one year through five years		0
After five years through ten years		0
After ten years		0
	$	2,079