96 that are held by the T rust are accounted for in additional paid-in capital as discussed in ASC 718 - Compensation — Stock Compensation . The market value of mutual fund investments, nonvested and subsequently vested stock and restricted stock in the T rust was $ 38.1 million and $ 31.9 million as of December 31, 2012 and 201 1 , respectively . The market value of the assets held by the T rust, exclusive of the market value of the shares of the Company’ s nonvested and subsequently vested restricted stock, restricted stock units held in the deferred compensation plan and Company stock investments by participants’ elections, at December 31, 2012 and December 31, 201 1 was $ 17.7 million and $ 15.2 million , respectively , and is classified as “other non-current assets” in the consolidated balance sheets. Amounts payable to the plan participants at December 31, 2012 and 201 1 , excluding the market value of the shares of the Company’ s nonvested and subsequently vested restricted stock and restricted stock units held, was $ 19.8 million and $ 16.9 million , respectively , and is classified as “other liabilities” in the consolidated balance sheets. In accordance with ASC 710 - Compensation — General , all market value fluctuations of the T rust assets, exclusive of the shares of nonvested and subsequently vested stock and restricted stock of the Company , are ef fectively of fset by changes in the market value of the deferred compensation liability held by the T rust, which are included as compensation expense in the consolidated statements of operations and comprehensive income (loss). Prior to 201 1 , management had classified the mutual fund assets as available for sale; as such, changes in the value of these investments were recorded in accumulated other comprehensive income. T able of Contents