Investments (Tables)

12 Months Ended

Dec. 31, 2018

Investments [Abstract]

Investments in Marketable Equity Securities

Investments in marketable equity securities consist of the following:

	As of December 31
(in thousands)	2018			2017
Total cost	$	282,563		$	269,343
Gross unrealized gains	216,111			266,972
Gross unrealized losses	(2,284		)	—
Total Fair Value	$	496,390		$	536,315

Loss on marketable equity securities

The net loss on marketable equity securities comprised the following:

	Year ended
(in thousands)	December 31, 2018
Loss on marketable equity securities, net	$	(15,843	)
Plus: Net losses in earnings from marketable equity securities sold	4,271
Net unrealized losses in earnings from marketable equity securities still held at the end of the year	$	(11,572	)