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Marketable Securities
 12 Months Ended
Dec. 31, 2012
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
Marketable Securities
Marketable securities at December 31, 2012 and December 31, 2011 consist of debt and equity securities. The Company also held restricted marketable securities at both December 31, 2012 and December 31, 2011, which consisted of debt securities, as detailed below, that collateralize letters of credit and lease obligations.
The following tables summarize the amortized cost basis of debt and equity securities included in marketable securities, the aggregate fair value of those securities, and gross unrealized gains and losses on those securities at December 31, 2012 and December 31, 2011.
 
 
Amortized
 
Unrealized
 
Fair
At December 31, 2012
 
Cost Basis
 
Gains
 
Losses
 
Value
Unrestricted
 
 
 
 
 
 
 
 
U.S. government and government agency obligations
 
$
327,502

 
$
661

 
$
(17
)
 
$
328,146

Municipal bonds
 
17,542

 


 
(32
)
 
17,510

     Equity securities
 
4,044

 


 
(651
)
 
3,393

 
 
349,088

 
661

 
(700
)
 
349,049

Restricted
 
 
 
 
 
 
 
 
U.S. government obligations
 
5,902

 
9

 
(2
)
 
5,909

 
 
$
354,990

 
$
670

 
$
(702
)
 
$
354,958

At December 31, 2011
 
 
 
 
 
 
 
 
Unrestricted
 
 
 
 
 
 
 
 
U.S. government and government agency obligations
 
$
284,458

 
$
442

 
$
(81
)
 
$
284,819

U.S. government guaranteed corporate bonds
 
15,263

 
54

 

 
15,317

U.S. government guaranteed collateralized mortgage obligations
 
623

 

 


 
623

Municipal bonds
 
15,314

 
13

 
(1
)
 
15,326

Mortgage-backed securities
 
268

 

 
(153
)
 
115

Equity securities
 
4,044

 

 
(1,025
)
 
3,019

 
 
319,970

 
509

 
(1,260
)
 
319,219

Restricted
 
 
 
 
 
 
 
 
U.S. government obligations
 
5,919

 
21

 

 
5,940

 
 
$
325,889

 
$
530

 
$
(1,260
)
 
$
325,159


The Company classifies its debt securities, other than mortgage-backed securities, based on their contractual maturity dates. Maturities of mortgage-backed securities were estimated based primarily on repayment characteristics and experience of the senior tranches that the Company held. The debt securities listed at December 31, 2012 mature at various dates through December 2015. The fair values of debt security investments by contractual maturity as of December 31, 2012 and 2011 consist of the following:
 
 
2012
 
2011
Unrestricted
 
 
 
 
Maturities within one year
 
$
77,819

 
$
43,333

Maturities after one year through five years
 
267,837

 
272,780

Maturities after five years through ten years
 

 
87

 
 
345,656

 
316,200

Restricted
 
 
 
 
Maturities within one year
 
2,781

 
3,357

Maturities after one year through five years
 
3,128

 
2,583

 
 
5,909

 
5,940

 
 
$
351,565

 
$
322,140

The following table shows the fair value of the Company’s marketable securities that have unrealized losses and that are deemed to be only temporarily impaired, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at December 31, 2012 and December 31, 2011.
 
Less than 12 Months
 
12 Months or Greater
 
Total
At December 31, 2012
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Unrestricted
 
 
 
 
 
 
 
 
 
 
 
U.S. government and government agency obligations
$
44,738

 
$
(17
)
 
 
 
 
 
$
44,738

 
$
(17
)
Municipal bonds
17,510

 
(32
)
 
 
 
 
 
17,510

 
(32
)
Equity security
 
 
 
 
$
3,393

 
$
(651
)
 
3,393

 
(651
)
 
62,248

 
(49
)
 
3,393

 
(651
)
 
65,641

 
(700
)
Restricted
 
 
 
 
 
 
 
 
 
 
 
U.S government obligations
1,194

 
(2
)
 
 
 
 
 
1,194

 
(2
)
 
$
63,442

 
$
(51
)
 
$
3,393

 
$
(651
)
 
$
66,835

 
$
(702
)
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2011
 
 
 
 
 
 
 
 
 
 
 
Unrestricted
 
 
 
 
 
 
 
 
 
 
 
U.S. government and government agency obligations
$
103,529

 
$
(81
)
 
 
 
 
 
$
103,529

 
$
(81
)
U.S. government guaranteed collateralized mortgage obligations
623

 
(1
)
 
 
 
 
 
623

 
(1
)
Municipal bonds
4,603

 
(1
)
 
 
 
 
 
4,603

 
(1
)
Equity security
3,019

 
(1,025
)
 
 
 
 
 
3,019

 
(1,025
)
Mortgage-backed securities
 
 
 
 
$
116

 
$
(152
)
 
116

 
(152
)
 
$
111,774

 
$
(1,108
)
 
$
116

 
$
(152
)
 
$
111,890

 
$
(1,260
)


Realized gains and losses are included as a component of investment income. For the years ended December 31, 2012, 2011, and 2010, total realized gains and losses on sales of marketable securities were not material.