Investments (Tables)

9 Months Ended

Sep. 30, 2014

Investments [Abstract]

Summary of investments

The following table summarizes our investments as of September 30, 2014, and December 31, 2013 (in thousands):

	September 30, 2014				December 31, 2013
“Available-for-sale” marketable equity securities, cost basis	$	15,119			$	2,879
Unrealized gains	17,150			(1)	2,177
Unrealized losses	(1,452		)		(587		)
“Available-for-sale” marketable equity securities, at fair value	30,817				4,469
Investments accounted for under cost method	146,760				135,819
Total investments	$	177,577			$	140,288

(1) The increase in our investments during the nine months ended September 30, 2014, includes an increase in unrealized gains of approximately $13.6 million related to our investments in publicly traded life science companies. These unrealized gains are a component of our comprehensive income, within our stockholders’ equity, and have not been recognized in the accompanying consolidated statement of income for the nine months ended September 30, 2014.

Schedule of net investment income

The following table outlines our investment (loss) income, which is classified in other income in the accompanying consolidated statements of income (in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014			2013
Investment gains	$	3,256		$	2,050	$	9,481		$	4,716
Investment losses	(3,485		)	—		(8,725		)	(529		)
Investment (loss) income	$	(229	)	$	2,050	$	756		$	4,187