Notes Receivable

6 Months Ended

Jun. 30, 2011

Notes Receivable

Notes Receivable

7.  NOTES RECEIVABLE

The Company holds three notes receivable from various divestitures and real estate transactions.  As of June 30, 2011 and December 31, 2010, the notes receivable aggregated $9,620,000 and $9,659,000, respectively.  The current portion of the notes receivable is included in other current assets and the long-term portion of the notes receivable are included in other assets.  Each note receivable is evaluated for collectability each reporting period on an individual basis.  Collectability is primarily evaluated on the financial condition of the debtor and whether and to what extent the debtor has complied with the terms of the underlying note agreements.  No allowances for credit losses were established for the notes receivable during the three and six months ended June 30, 2011 and 2010.  Interest income is recognized on an accrual basis based upon fixed rates as defined in each note receivable agreement and classified as a reduction to interest expense on the consolidated statement of operations.