Investments (Tables)

9 Months Ended

Sep. 30, 2019

Investments [Abstract]

Investments in Marketable Equity Securities

Investments in marketable equity securities consist of the following:

	As of
	September 30, 2019		December 31, 2018
(in thousands)
Total cost	$	282,349	$	282,563
Gross unrealized gains	253,215		216,111
Gross unrealized losses	—		(2,284		)
Total Fair Value	$	535,564	$	496,390

Gain on Marketable Equity Securities

The gain on marketable equity securities comprised the following:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2019		2018		2019			2018
Gain on marketable equity securities, net	$	17,404	$	44,962	$	49,261		$	28,306
Less: Net losses (gains) in earnings from marketable equity securities sold and donated	61		—		(2,919		)	4,271
Net unrealized gains in earnings from marketable equity securities still held at the end of the period	$	17,465	$	44,962	$	46,342		$	32,577