Cash and Cash Equivalents and Short-term Investments (Tables)

3 Months Ended

Mar. 31, 2013

Cash and Cash Equivalents and Short-term Investments

Cash and cash equivalents and short-term investments

	March 31,		December 31,
	2013		2012
	(In thousands)
Cash and cash equivalents	$	564,888	$	524,922
Short-term investments:
Trading equity securities	$	—	$	52,705
Available-for-sale equity securities	97,118		174,610
Available-for-sale debt securities	28,474		25,967
Total short-term investments	$	125,592	$	253,282

Certain information related to our cash and cash equivalents and short term investments

	March 31, 2013							December 31, 2012
	Fair Value		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Fair Value		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses
	(In thousands)
Cash and cash equivalents	$	564,888	$	—	$	—		$	524,922	$	—	$	—
Short-term investments:
Trading equity securities	—		—		—			52,705		46,981		—
Available-for-sale equity securities	97,118		69,849		(2,272		)	174,610		137,282		(1,030		)
Available-for-sale debt securities:
Commercial paper and CDs	88		—		—			206		—		—
Corporate debt securities	26,550		4,642		—			23,399		1,870		—
Mortgage-backed debt securities	218		14		—			244		15		—
Mortgage-CMO debt securities	253		6		(3		)	523		10		(3		)
Asset-backed debt securities	1,365		—		(91		)	1,595		28		(192		)
Total available-for-sale debt securities	28,474		4,662		(94		)	25,967		1,923		(195		)
Total available-for-sale securities	125,592		74,511		(2,366		)	200,577		139,205		(1,225		)
Total short-term investments	125,592		74,511		(2,366		)	253,282		186,186		(1,225		)
Total cash, cash equivalents and short-term investments	$	690,480	$	74,511	$	(2,366	)	$	778,204	$	186,186	$	(1,225	)

Gross unrealized losses of cash and cash equivalents and short-term investments

	As of March 31, 2013
	Less Than 12 Months				More Than 12 Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(In thousands)
Available-for-sale equity securities	$	16,622	$	2,272	$	—	$	—
Available-for-sale debt securities: (1)
Mortgage-CMO debt securities	109		3		—		—
Asset-backed debt securities	819		1		546		90
Total available-for-sale debt securities	928		4		546		90
Total	$	17,550	$	2,276	$	546	$	90

(1) Our unrealized losses on available-for-sale debt securities held for more than one year are comprised of various types of securities.  Each of these securities has a rating ranging from “A” to “AAA” from Standard & Poor’s and ranging from “A2” to “Aaa” from Moody’s Investors Service and is considered to be of high credit quality.  In each case, we do not intend to sell these investments, and it is less likely than not that we will be required to sell them to satisfy our own cash flow and working capital requirements.  We believe that we will be able to collect all amounts due according to the contractual terms of each investment and, therefore, do not consider the decline in value of these investments to be other-than-temporary at March 31, 2013.

Estimated fair values of corporate, mortgage-backed, mortgage-CMO and asset-backed debt securities

	Estimated
	Fair Value
	March 31, 2013
	(In thousands)
Debt securities:
Due in one year or less	$	88
Due after one year through five years	20,150
Due in more than five years	8,236
Total debt securities	$	28,474

Debt and equity securities

	Three Months Ended March 31,
	2013		2012
	(In thousands)
Available-for-sale
Proceeds from sales and maturities	$	86,601	$	18,437
Realized gains (losses), net	$	75,974	$	12,465