Quarterly report pursuant to Section 13 or 15(d)

Investments in Marketable Securities

v2.4.0.6
Investments in Marketable Securities
3 Months Ended
Mar. 31, 2012
INVESTMENTS IN MARKETABLE SECURITIES [Abstract]  
Marketable Securities [Text Block]
3.
INVESTMENTS IN MARKETABLE SECURITIES
Available-for-sale securities are carried at fair value with the unrealized holding gains or losses, net of tax, included as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Realized gains and losses on available-for-sale securities are computed based upon specific identification and included in other income (expense), net in the consolidated statement of operations.  Declines in value judged to be other-than-temporary on available-for-sale securities are recorded in other income (expense), net in the consolidated statement of operations and the cost basis of the security is reduced. The fair values for marketable equity securities are based on quoted market prices.  Held-to-maturity investments are stated at amortized cost which approximates fair value.  Interest income is accrued as earned.  Realized gains and losses on held-to-maturity investments are computed based upon specific identification and included in other income (expense), net in the condensed consolidated statement of operations.  The Company does not have any investments classified as trading.
Available-for-sale securities consist of assets in a rabbi trust associated with the Company’s deferred compensation plan.  As of March 31, 2012 and December 31, 2011, the carrying value of available-for-sale securities was approximately $121,000 and $127,000, respectively, and is included in short-term investments.  Available-for-sale securities at March 31, 2012 and December 31, 2011 consisted of $59,000 and $65,000, respectively, in mutual funds, and approximately $62,000 in money market accounts.
The Company’s other marketable securities consist of investment grade debt instruments such as obligations of U.S. Treasury and U.S. Federal Government agencies.  These investments are categorized as held-to-maturity since the Company’s management has the ability and intent to hold these securities to maturity.  The Company’s held-to-maturity investments are carried at amortized cost which approximates fair value and are maintained in separate accounts to support the Company’s letters of credit.  The Company had standby letters of credit of approximately $3.1 million at March 31, 2012 and December 31, 2011, as collateral for its existing insurance policies and facility leases.
At March 31, 2012 and December 31, 2011, held-to-maturity investments included the following:
 
 
 
Maturing
 
 
 
Maturing
 
March 31,
2012
 
within
1 year
 
after 1 year
through
3 years
 
December 31,
2011
 
within
1 year
 
after 1 year
through
3 years
Cash/money accounts
$
146

 
$
146

 
$

 
$
111

 
$
111

 
$

US Treasury securities
4,253

 
1,321

 
2,932

 
4,293

 
1,323

 
2,970

Government agency securities
861

 

 
861

 
871

 

 
871

Total
$
5,260

 
$
1,467

 
$
3,793

 
$
5,275

 
$
1,434

 
$
3,841


At March 31, 2012 and December 31, 2011, held-to-maturity investments were recorded in the following accounts: 
 
March 31,
2012
 
December 31,
2011
Other current assets
$
1,467

 
$
1,434

Other long-term assets
3,793

 
3,841

Total
$
5,260

 
$
5,275