American Home Shield 2011 Annual Report Download - page 115

Table of Contents
Notes to the Consolidated Financial Statements (Continued)
Note 19. Fair Value of Financial Instruments (Continued)
The carrying amount and estimated fair value of the Company's financial instruments that are recorded at fair value for the periods presented are as
follows:
As of December 31, 2011
Estimated Fair Value Measurements
As of
December 31, 2010
Quoted
Prices In
Active
Markets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(In thousands)
Balance
Sheet
Locations
Carrying
Value
Carrying
Value
Estimated
Fair Value
Financial Assets:
Deferred
compensation
trust assets
Long-term
marketable
securities $ 10,834 $ 10,834 $ — $ — $ 10,859 $ 10,859
Investments in
marketable
securities
Marketable
securities
and long-
term
marketable
securities 131,648 52,358 79,290 — 129,724 129,724
Fuel swap contracts:
Current
Prepaid
expenses
and other
assets 548 — — 548 5,813 5,813
Noncurrent Other assets — — — — 836 836
Total financial assets $143,030 $ 63,192 $ 79,290 $ 548 $147,232 $ 147,232
Financial Liabilities:
Fuel swap contracts:
Current
Other
accrued
liabilities $ 1,281 $ — $ — $ 1,281 $ — $ —
Interest rate swap
contracts
Other long-
term
liabilities 23,467 — 23,467 — 50,085 50,085
Total financial
liabilities $ 24,748 $ — $ 23,467 $ 1,281 $ 50,085 $ 50,085
A reconciliation of the beginning and ending fair values of financial instruments valued using significant unobservable inputs (Level 3) is presented as
follows:
(In thousands)
Fuel Swap
Contract
Assets (Liabilities)
Balance as of December 31, 2009 $ 6,916
Total gains (losses) (realized and unrealized):
Included in earnings(1) 6,015
Included in other comprehensive income (267)
Settlements, net (6,015)
Balance as of December 31, 2010 $ 6,649
Total gains (losses) (realized and unrealized):
Included in earnings(1) 10,010
Included in other comprehensive income (7,382)
Settlements, net (10,010)