Fair Value Measurements

3 Months Ended

Mar. 31, 2012

Fair Value Measurements

Fair Value Measurements

Note 8 — Fair Value Measurements

We record the fair value of certain financial assets and liabilities on a recurring basis.  The following table summarizes the financial assets and liabilities measured at fair value in the accompanying financial statements using the three-level fair value hierarchy as of March 31, 2012 and December 31, 2011 (in thousands):

	Quoted prices in active markets		Significant observable inputs
	(Level 1)		(Level 2)		Total
March 31, 2012:
Assets:
Deferred compensation related investments	$	594	$	1,854	$	2,448
Liabilities:
Deferred compensation related liabilities	$	2,426	$	—	$	2,426
December 31, 2011:
Assets:
Deferred compensation related investments	$	552	$	1,405	$	1,957
Liabilities:
Deferred compensation related liabilities	$	1,904	$	—	$	1,904

As of the dates presented, we had no financial assets or liabilities recorded at fair value for which the fair value was determined using Level 3 of the fair value hierarchy.  The fair value of our deferred compensation related investments is based on the cash surrender values of life insurance policies underlying our supplemental income deferral plan, as well as the fair value of the investments selected by employees.  The fair value of our deferred compensation related liabilities is determined based on the fair value of the investments selected by employees.