Investments (Tables)

3 Months Ended

Mar. 31, 2019

Investments [Abstract]

Investments in Marketable Equity Securities

Investments in marketable equity securities consist of the following:

	As of
	March 31, 2019		December 31, 2018
(in thousands)
Total cost	$	282,349	$	282,563
Gross unrealized gains	227,958		216,111
Gross unrealized losses	—		(2,284		)
Total Fair Value	$	510,307	$	496,390

Gain (loss) on Marketable Equity Securities

The gain (loss) on marketable equity securities comprised the following:

	Three Months Ended   March 31
(in thousands)	2019			2018
Gain (loss) on marketable equity securities, net	$	24,066		$	(14,102	)
Less: Net (gains) losses in earnings from marketable equity securities sold and donated	(2,982		)	2,611
Net unrealized gains (losses) in earnings from marketable equity securities still held at the end of the period	$	21,084		$	(11,491	)