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Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2012

Investments, Debt and Equity Securities [Abstract]

The following is a summary of marketable securities as of March 31, 2012 and December 31, 2011 (in thousands):



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
March 31, 2012
Debt securities	$	251,494	$	487	$	(677	)	$	251,304
Equity securities	10,518		688		—			11,206
Mutual funds	6,233		408		—			6,641
Total marketable securities	$	268,245	$	1,583	$	(677	)	$	269,151
December 31, 2011
Debt securities	$	270,745	$	1,298	$	(191	)	$	271,852
Equity securities	10,518		—		(1,344		)	9,174
Mutual funds	6,127		16		(88		)	6,055
Total marketable securities	$	287,390	$	1,314	$	(1,623	)	$	287,081

Estimated Fair Values and Gross Unrealized Losses for the Company's Investments in Individual Securities

The following table shows the estimated fair values and gross unrealized losses as of March 31, 2012 for the Company’s investments in individual debt securities that have been in a continuous unrealized loss position deemed to be temporary for less than 12 months and for more than 12 months (in thousands):



Less than 12 Months					More than 12 Months
Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
$	76,895	$	(677	)	$	—	$	—

Current and Non-current Classification of Marketable Securities

The following table shows the current and non-current classification of the Company’s marketable securities as of March 31, 2012 and December 31, 2011 (in thousands):



	March 31, 2012		December 31, 2011
Current	$	174,409	$	218,789
Non-current⁽¹⁾	94,742		68,292
Total marketable securities	$	269,151	$	287,081

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(1)	Deferred compensation plan assets invested in mutual funds are included under the caption “License, manufacturing access fees and other assets, net” on the Company’s consolidated balance sheets.

Gross Realized Gains and Losses from Sale of Marketable Securities

The following table shows the gross realized gains and losses from the sale of marketable securities, based on the specific identification method during the three month periods ended March 31, 2012 and 2011 (in thousands):



	Three Months Ended March 31,
	2012		2011
Proceeds from sale of marketable securities	$	146,184	$	30,153
Gross realized gains	$	1,957	$	2
Gross realized losses	—		(356		)
Net realized gain (loss)	$	1,957	$	(354	)

- Definition

Tabular disclosure of investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

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-Section 50

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Equity Security

-URI http://asc.fasb.org/extlink&oid=6511694

-Topic 320

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Debt Security

-URI http://asc.fasb.org/extlink&oid=6509901

-Topic 320

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 3, 19, 20, 21, 22, 137

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

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-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

+ Details

- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

+ References+ Details