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Investments (Tables)
 6 Months Ended
Jun. 30, 2015
Investments [Abstract]  
Contract maturity of available-for-sale securities
The following table summarizes the contract maturity of the available-for-sale securities we held as of June 30, 2015:

One year or less
54%
After one year but within two years
29%
After two years but within three and a half years
17%
Total
100%
Summary of investments
The following is a summary of our investments (in thousands):

  
Gross Unrealized
 
Other-
Than-
Temporary
Impairment
 
Estimated
 
June 30, 2015
Cost
 
Gains
 
Losses
 
Loss
 
Fair Value
 
Available-for-sale securities (1):
     
Corporate debt securities
 
 
$
189,487
 
 
 
$
37
 
 
 
$
(90
)
 
 
$
—
 
 
 
$
189,434
 
Debt securities issued by U.S. government agencies
   
81,639
    
5
    
(11
)
   
—
    
81,633
 
Debt securities issued by states of the United States and political subdivisions of the states (2)
   
59,835
    
22
    
(58
)
   
—
    
59,799
 
Total securities with a maturity of one year or less
   
330,961
    
64
    
(159
)
   
—
    
330,866
 
Corporate debt securities
   
234,088
    
52
    
(848
)
   
—
    
233,292
 
Debt securities issued by U.S. government agencies
   
28,002
    
10
    
(3
)
   
—
    
28,009
 
Debt securities issued by states of the United States and political subdivisions of the states
   
62,203
    
32
    
(189
)
   
—
    
62,046
 
Total securities with a maturity of more than one year
   
324,293
    
94
    
(1,040
)
   
—
    
323,347
 
Total available-for-sale securities
 
 
$
655,254
 
 
 
$
158
 
 
 
$
(1,199
)
 
 
$
—
 
 
 
$
654,213
 
Equity securities:
                    
Regulus Therapeutics Inc.
 
 
$
12,477
 
 
 
$
48,127
 
 
 
$
—
 
 
 
$
—
 
 
 
$
60,604
 
Securities included in other current assets
   
880
    
—
    
—
    
(880
)
   
—
 
Total equity securities
 
 
$
13,357
 
 
 
$
48,127
 
 
 
$
—
 
 
 
$
(880
)
 
 
$
60,604
 
Total available-for-sale and equity securities
 
 
$
668,611
 
 
 
$
48,285
 
 
 
$
(1,199
)
 
 
$
(880
)
 
 
$
714,817
 


  
Gross Unrealized
 
Other-
Than-
Temporary
Impairment
 
Estimated
 
December 31, 2014
Cost
 
Gains
 
Losses
 
Loss
 
Fair Value
 
Available-for-sale securities (1):
     
Corporate debt securities (2)
 
 
$
219,856
 
 
 
$
89
 
 
 
$
(89
)
 
 
$
—
 
 
 
$
219,856
 
Debt securities issued by U.S. government agencies
   
47,496
    
7
    
(27
)
   
—
    
47,476
 
Debt securities issued by the U.S. Treasury (2)
   
19,008
    
9
    
—
    
—
    
19,017
 
Debt securities issued by states of the United States and political subdivisions of the states (2)
   
45,196
    
19
    
(53
)
   
—
    
45,162
 
Total securities with a maturity of one year or less
   
331,556
    
124
    
(169
)
   
—
    
331,511
 
Corporate debt securities
   
152,730
    
16
    
(600
)
   
—
    
152,146
 
Debt securities issued by U.S. government agencies
   
62,530
    
—
    
(151
)
   
—
    
62,379
 
Debt securities issued by states of the United States and political subdivisions of the states
   
60,073
    
32
    
(234
)
   
—
    
59,871
 
Total securities with a maturity of more than one year
   
275,333
    
48
    
(985
)
   
—
    
274,396
 
Total available-for-sale securities
 
 
$
606,889
 
 
 
$
172
 
 
 
$
(1,154
)
 
 
$
—
 
 
 
$
605,907
 
Equity securities:
                    
Regulus Therapeutics Inc.
 
 
$
12,477
 
 
 
$
69,404
 
 
 
$
—
 
 
 
$
—
 
 
 
$
81,881
 
Securities included in other current assets
   
880
    
—
    
—
    
(880
)
   
—
 
Total equity securities
 
 
$
13,357
 
 
 
$
69,404
 
 
 
$
—
 
 
 
$
(880
)
 
 
$
81,881
 
Total available-for-sale and equity securities
 
 
$
620,246
 
 
 
$
69,576
 
 
 
$
(1,154
)
 
 
$
(880
)
 
 
$
687,788
 

(1)Our available-for-sale securities are held at amortized cost.

(2)Includes investments classified as cash equivalents on our condensed consolidated balance sheet.
Investments temporarily impaired
Investments we considered to be temporarily impaired at June 30, 2015 were as follows (in thousands):

    
Less than 12 months of
temporary impairment
  
More than 12 months of
temporary impairment
  
Total temporary
impairment
 
  
Number of
Investments
  
Estimated
Fair Value
  
Unrealized
Losses
  
Estimated
Fair Value
  
Unrealized
Losses
  
Estimated
Fair Value
  
Unrealized
Losses
 
Corporate debt securities
  
254
  
$
296,493
  
$
(894
)
 
$
9,263
  
$
(44
)
 
$
305,756
  
$
(938
)
Debt securities issued by U.S. government agencies
  
12
   
62,116
   
(14
)
  
—
   
—
   
62,116
   
(14
)
Debt securities issued by states of the United States and political subdivisions of the states
  
49
   
51,616
   
(178
)
  
6,229
   
(69
)
  
57,845
   
(247
)
Total temporarily impaired securities
  
315
  
$
410,225
  
$
(1,086
)
 
$
15,492
  
$
(113
)
 
$
425,717
  
$
(1,199
)