XML 44 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Fair Value of Financial Instruments
3 Months Ended
Mar. 31, 2012
Fair Value of Financial Instruments [Abstract]  
Fair Value of Financial Instruments

7.    Fair Value of Financial Instruments

The Corporation’s financial instruments include cash and cash equivalents, marketable securities, short-term receivables and payables, and debt. Included in cash and cash equivalents are money market funds which are valued based on the published net asset value (“NAV”). Financial instruments also include an interest rate swap agreement, which is discussed further in Note 9 below. The carrying amounts of the Corporation’s financial instruments generally approximated their fair values at March 31, 2012 and December 31, 2011, except that, based on the borrowing rates available to the Corporation under current market conditions, the fair value of long-term debt (including current maturities) using Level 2 fair value inputs was approximately $610 million at March 31, 2012 and $601 million at December 31, 2011.