Fair Value Of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value, Assets And Liabilities Measured On Recurring Basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and December 31, 2012:



			Fair Value Measurement Using
	Total Fair Value		Level 1		Level 2		Level 3
	(In thousands)
As of December 31, 2013:
Assets:
Investments in money market funds	$	246,492	$	246,492	$	—	$	—
Debt securities issued by the U.S. Treasury	1,409,062		1,409,062		—		—
Foreign currency forward contracts (1)	141		—		141		—
Total	$	1,655,695	$	1,655,554	$	141	$	—
Liabilities:
Contingent interest derivative on Subordinated Convertible Debentures	$	29,004	$	—	$	—	$	29,004
Foreign currency forward contracts (2)	131		—		131		—
Total	$	29,135	$	—	$	131	$	29,004
As of December 31, 2012:
Assets:
Investments in money market funds	$	38,054	$	38,054	$	—	$	—
Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies	1,452,358		1,419,280		33,078		—
Equity securities of public company	3,341		—		3,341		—
Foreign currency forward contracts (1)	71		—		71		—
Total	$	1,493,824	$	1,457,334	$	36,490	$	—
Liabilities:
Contingent interest derivative on Subordinated Convertible Debentures	$	11,203	$	—	$	—	$	11,203
Foreign currency forward contracts (2)	765		—		765		—
Total	$	11,968	$	—	$	765	$	11,203


(1)	Included in Prepaid expenses and other current assets


(2)	Included in Accounts payable and accrued liabilities

Changes In Fair Value Measurement Of Level 3 Items

The following table summarizes the change in the fair value of the Company’s contingent interest derivative on Subordinated Convertible Debentures during the year ended December 31, 2013 and 2012:



	Year Ended December 31,
	2013		2012
	(In thousands)
Beginning balance	$	11,203	$	11,625
Unrealized loss (gain) on contingent interest derivative on Subordinated Convertible Debentures	17,801		(422		)
Ending balance	$	29,004	$	11,203

- 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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