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FAIR VALUE OF FINANCIAL INSTRUMENTS
 9 Months Ended
Sep. 30, 2013
Investments, Debt and Equity Securities [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS
The following table summarizes the estimated fair values of the Company’s financial instruments as of September 30, 2013 and December 31, 2012:
 
 
As of September 30, 2013
 
As of December 31, 2012
 
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
Cash equivalents
 
$
135,314

 
$
135,314

 
$
306,604

 
$
306,604

Marketable securities(1)
 
—

 
—

 
11,577

 
11,577

Long-term debt (as described in note 11)(2)
 
(17,404,714
)
 
(18,281,947
)
 
(11,015,625
)
 
(11,691,338
)
____________________________________
(1)
Marketable securities are classified within Prepaid expenses and other current assets and Other long-term assets, net in the consolidated balance sheets.
(2)
Fair value measurement of long-term debt was estimated using the quoted market prices for the Company’s debt issuances.
The following table summarizes the Company’s marketable securities by major security type as of September 30, 2013 and December 31, 2012:
 
 
As of September 30, 2013
 
As of December 31, 2012
 
 
Cost
Basis
 
Fair
Value
 
Gross Unrealized
 
Cost
Basis
 
Fair
Value
 
Gross Unrealized
 
 
Gains
 
Losses
 
Gains
 
Losses
Auction rate floating securities
 
$
—

 
$
—

 
$
—

 
$
—

 
$
7,166

 
$
7,167

 
$
1

 
$
—

Equity securities
 
—

 
—

 
—

 
—

 
4,031

 
4,410

 
379

 
—

 
 
$
—

 
$
—

 
$
—

 
$
—

 
$
11,197

 
$
11,577

 
$
380

 
$
—


Gross gains and losses realized on the sale of marketable debt securities were not material in the three-month and nine-month periods ended September 30, 2013 and 2012.