Investments (Tables)

9 Months Ended

Sep. 30, 2018

Investments [Abstract]

Investments in Marketable Equity Securities

Investments in marketable equity securities comprised the following:

	As of
	September 30, 2018		December 31, 2017
(in thousands)
Total cost	$	239,904	$	269,343
Gross unrealized gains	257,975		266,972
Total Fair Value	$	497,879	$	536,315

Gain on Marketable Equity Securities

The gain on marketable equity securities comprised the following:

	Three Months Ended		Nine Months Ended
(in thousands)	September 30, 2018		September 30, 2018
Gain on marketable equity securities, net	$	44,962	$	28,306
Plus: Net losses in earnings from marketable equity securities sold	—		4,271
Net unrealized gains in earnings from marketable equity securities still held at the end of the period	$	44,962	$	32,577