Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair value measurement of financial assets and liabilities on recurring basis

	As of March 31, 2013
	(In thousands)
	As reflected on the balance sheet		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	11,496	$	11,496	$	—	$	—	$	11,496
Corporate and financial institutions debt	249,127		—		249,127		—		$	249,127
Auction rate securities	8,178		—		—		8,178		$	8,178
U.S. government agencies	71,100		—		71,100		—		$	71,100
U.S. treasury bills	34,314		34,314		—		—		$	34,314
Total	$	374,215	$	45,810	$	320,227	$	8,178	$	374,215

Liabilities:
Liability for contingent consideration, current and non-current	$	152,093	$	—	$	—	$	152,093	$	152,093
Convertible senior notes due 2016 (face value $230,000)	177,503		—		537,038		—		537,038
Total	$	329,596	$	—	$	537,038	$	152,093	$	689,131

	As of December 31, 2012
	(In thousands)
	As reflected on the balance sheet		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	19,297	$	19,297	$	—	$	—	$	19,297
Corporate and financial institutions debt	229,053		—		229,053		—		229,053
Auction rate securities	8,323		—		—		8,323		8,323
U.S. government agencies	88,514		—		88,514		—		88,514
U.S. treasury bills	29,222		29,222		—		—		29,222
Total	$	374,409	$	48,519	$	317,567	$	8,323	$	374,409

Liabilities:
Liability for contingent consideration, current and non-current	$	149,163	$	—	$	—	$	149,163	$	149,163
Convertible senior notes due 2016 (face value $230,000)	174,404		—		468,533		—		468,533
Total	$	323,567	$	—	$	468,533	$	149,163	$	617,696

Summary of changes in fair value of the auction rate securities

	Auction Rate Securities
	Three Months Ended March 31,
	2013			2012
	(In thousands)
Fair value at beginning of period	$	8,323		$	22,102
Redemptions	(200		)	—
Change in valuation	55			282
Fair value at end of period	$	8,178		$	22,384

Summary of the changes in the fair value of the liability for contingent consideration

	Liability for Contingent Consideration
	Three Months Ended March 31,
	2013		2012
	(In thousands)
Fair value at beginning of period	$	149,163	$	159,990
Change in valuation	2,930		3,178
Fair value at end of period	$	152,093	$	163,168

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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