Quarterly report pursuant to Section 13 or 15(d)

Short-Term And Long-Term Investments And Restricted Deposits (Tables)

v2.4.0.6
Short-Term And Long-Term Investments And Restricted Deposits (Tables)
9 Months Ended
Sep. 30, 2012
Investments, Debt and Equity Securities [Abstract]  
Short-Term And Long-Term Investments And Restricted Deposits By Investment Type
Short-term and long-term investments and restricted deposits by investment type consist of the following:
 
September 30, 2012
 
December 31, 2011
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized Losses
 
Fair
Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized Losses
 
Fair
Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
60,177

 
$
760

 
$
(6
)
 
$
60,931

 
$
29,014

 
$
638

 
$
(13
)
 
$
29,639

Corporate securities
257,161

 
5,844

 
(6
)
 
262,999

 
186,018

 
3,762

 
(751
)
 
189,029

Restricted certificates of deposit
5,891

 

 

 
5,891

 
5,890

 

 

 
5,890

Restricted cash equivalents
13,150

 

 

 
13,150

 
13,775

 

 

 
13,775

Municipal securities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

General obligation
91,259

 
1,649

 

 
92,908

 
126,806

 
2,828

 
(26
)
 
129,608

Pre-refunded
16,529

 
130

 

 
16,659

 
33,247

 
465

 

 
33,712

Revenue
85,281

 
1,804

 
(25
)
 
87,060

 
118,507

 
2,387

 
(34
)
 
120,860

Variable rate demand notes
92,225

 

 

 
92,225

 
64,658

 

 

 
64,658

Asset backed securities
74,126

 
1,294

 

 
75,420

 
51,779

 
430

 
(17
)
 
52,192

Cost and equity method investments
10,958

 

 

 
10,958

 
9,395

 

 

 
9,395

Life insurance contracts
14,942

 

 

 
14,942

 
14,699

 

 

 
14,699

Total
$
721,699

 
$
11,481

 
$
(37
)
 
$
733,143

 
$
653,788

 
$
10,510

 
$
(841
)
 
$
663,457

Fair Value Of Available-For-Sale Investments With Gross Unrealized Losses By Investment Type And Length Of Time
The fair value of available-for-sale investments with gross unrealized losses by investment type and length of time that individual securities have been in a continuous unrealized loss position were as follows:
 
September 30, 2012
 
December 31, 2011
 
Less Than 12 Months
 
12 Months or More
 
Less Than 12 Months
 
12 Months or More
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
(4
)
 
$
1,196

 
$
(2
)
 
$
202

 
$
(13
)
 
$
2,184

 
$

 
$

Corporate securities
(6
)
 
5,295

 

 

 
(751
)
 
23,040

 

 

Municipal securities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

General obligation

 

 

 

 
(26
)
 
3,710

 

 

Revenue
(25
)
 
1,825

 

 

 
(34
)
 
12,597

 

 

Asset backed securities

 

 

 

 
(17
)
 
20,417

 

 

Total
$
(35
)
 
$
8,316

 
$
(2
)
 
$
202

 
$
(841
)
 
$
61,948

 
$

 
$

Contractual Maturities Of Short-Term And Long-Term Investments And Restricted Deposits
The contractual maturities of short-term and long-term investments and restricted deposits are as follows:
 
September 30, 2012
 
December 31, 2011
 
Investments
 
Restricted Deposits
 
Investments
 
Restricted Deposits
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
One year or less
$
138,508

 
$
139,920

 
$
33,108

 
$
33,151

 
$
129,232

 
$
130,499

 
$
19,666

 
$
19,666

One year through five years
423,533

 
432,717

 
358

 
358

 
406,140

 
413,953

 
7,085

 
7,152

Five years through ten years
37,331

 
37,444

 

 

 
34,945

 
34,961

 

 

Greater than ten years
88,860

 
89,553

 

 

 
56,720

 
57,226

 

 

Total
$
688,232

 
$
699,634

 
$
33,466

 
$
33,509

 
$
627,037

 
$
636,639

 
$
26,751

 
$
26,818

Gross Recorded Realized Gains And Losses
 The Company’s gross recorded realized gains and losses were as follows:

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
Gains
$
1,475

 
$
107

 
$
1,483

 
$
240

Losses
(12
)
 
(1
)
 
(23
)
 
(27
)
Net realized gains
$
1,463

 
$
106

 
$
1,460

 
$
213