FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2011

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

8.     FAIR VALUE OF FINANCIAL INSTRUMENTS

• The following table summarizes the estimated fair values of the Company's financial instruments as of September 30, 2011 and December 31, 2010:

	As of September 30, 2011						As of December 31, 2010
	Carrying Value			Fair Value			Carrying Value			Fair Value
Cash equivalents	$	78,340		$	78,340		$	91,448		$	91,448
Marketable securities		2,967			2,967			8,166			8,166
Long-term debt		(5,226,911	)		(4,921,199	)		(3,595,277	)		(4,174,561	)

• The following table summarizes the Company's marketable securities by major security type as of September 30, 2011 and December 31, 2010:

	As of September 30, 2011								As of December 31, 2010
					Gross Unrealized								Gross Unrealized
	Cost Basis		Fair Value						Cost Basis		Fair Value
					Gains		Losses						Gains		Losses
Corporate bonds	$	2,955	$	2,967	$	12	$	—	$	6,234	$	6,340	$	106	$	—
Government-sponsored enterprise securities		—		—		—		—		1,825		1,826		1		—
	$	2,955	$	2,967	$	12	$	—	$	8,059	$	8,166	$	107	$	—

• All marketable debt securities held as of September 30, 2011 mature within one year. Gross gains and losses realized on the sale of marketable debt securities were not material in the three-month or nine-month periods ended September 30, 2011 and 2010.