Annual report pursuant to Section 13 and 15(d)

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

v2.4.0.8
Short-Term And Long-Term Investments And Restricted Deposits (Tables)
12 Months Ended
Dec. 31, 2013
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:
 
December 31, 2013
 
December 31, 2012
 
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
$
246,085

 
$
245

 
$
(7,494
)
 
$
238,836

 
$
110,941

 
$
581

 
$
(221
)
 
$
111,301

Corporate securities
293,912

 
2,782

 
(608
)
 
296,086

 
290,691

 
4,615

 
(195
)
 
295,111

Restricted certificates of deposit
5,891

 

 

 
5,891

 
5,890

 

 

 
5,890

Restricted cash equivalents
26,642

 

 

 
26,642

 
14,455

 

 

 
14,455

Municipal securities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

General obligation
54,003

 
555

 
(136
)
 
54,422

 
85,440

 
1,157

 
(26
)
 
86,571

Pre-refunded
10,835

 
82

 

 
10,917

 
5,337

 
85

 

 
5,422

Revenue
68,801

 
545

 
(292
)
 
69,054

 
82,781

 
1,313

 
(30
)
 
84,064

Variable rate demand notes
28,575

 

 

 
28,575

 
23,385

 

 

 
23,385

Asset backed securities
138,803

 
579

 
(332
)
 
139,050

 
73,570

 
1,082

 
(15
)
 
74,637

Mortgage backed securities
33,974

 

 
(83
)
 
33,891

 

 

 

 

Cost and equity method investments
22,239

 

 

 
22,239

 
11,298

 

 

 
11,298

Life insurance contracts
15,369

 

 

 
15,369

 
15,023

 

 

 
15,023

Total
$
945,129

 
$
4,788

 
$
(8,945
)
 
$
940,972

 
$
718,811

 
$
8,833

 
$
(487
)
 
$
727,157

Schedule Of Available-For-Sale Investments In A Continuous Unrealized Loss Position
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:
 
December 31, 2013
 
December 31, 2012
 
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
$
(6,188
)
 
$
172,365

 
$
(1,307
)
 
$
26,454

 
$
(219
)
 
$
56,033

 
$
(2
)
 
$
201

Corporate securities
(400
)
 
52,725

 
(207
)
 
5,020

 
(195
)
 
44,208

 

 

Municipal securities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

General obligation
(72
)
 
3,480

 
(63
)
 
2,426

 
(26
)
 
7,930

 

 

Revenue
(292
)
 
27,789

 

 

 
(30
)
 
3,090

 

 

Asset backed securities
(333
)
 
37,689

 

 

 
(15
)
 
8,192

 

 

Mortgage backed securities
(83
)
 
33,891

 

 

 

 

 

 

Total
$
(7,368
)
 
$
327,939

 
$
(1,577
)
 
$
33,900

 
$
(485
)
 
$
119,453

 
$
(2
)
 
$
201

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:
 
December 31, 2013
 
December 31, 2012
 
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
$
101,537

 
$
102,126

 
$
40,633

 
$
40,637

 
$
136,997

 
$
138,101

 
$
33,897

 
$
33,928

One year through five years
609,755

 
610,589

 
6,301

 
6,309

 
429,053

 
435,728

 
358

 
358

Five years through ten years
157,003

 
151,221

 

 

 
93,907

 
93,778

 

 

Greater than ten years
29,900

 
30,090

 

 

 
24,599

 
25,264

 

 

Total
$
898,195

 
$
894,026

 
$
46,934

 
$
46,946

 
$
684,556

 
$
692,871

 
$
34,255

 
$
34,286