| Organization and Significant Accounting Policies [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Organization and Significant Accounting Policies [Abstract] | |
Amortization Expense for Patents | Based on existing patents, estimated amortization expense related to patents in each of the next five years is as follows:
Years Ending December 31, | | Amortization (in millions) | | 2017 | | $ | 1.4 | | 2018 | | $ | 1.3 | | 2019 | | $ | 1.2 | | 2020 | | $ | 1.1 | | 2021 | | $ | 1.0 | |
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Property, Plant and Equipment |
We carry our property, plant and equipment at cost and depreciate it on the straight-line method over its estimated useful life, which consists of the following (in thousands):
| | | | | | December 31, | | | | | Estimated Useful Lives (in years) | | | 2016 | | | 2015 | | Computer software, laboratory, manufacturing and other equipment | | 3 to 10 | | | $ | 63,287 | | | $ | 56,822 | | Building and building systems | | 25 to 40 | | | | 48,909 | | | | 48,163 | | Land improvements | | | 20 | | | | 2,853 | | | | 2,853 | | Leasehold improvements | | 5 to 20 | | | | 41,736 | | | | 39,061 | | Furniture and fixtures | | 5 to 10 | | | | 5,937 | | | | 5,842 | | | | | | | | | | 162,722 | | | | 152,741 | | Less accumulated depreciation | | | | | | | (80,075 | ) | | | (72,706 | ) | | | | | | | | | 82,647 | | | | 80,035 | | Land | | | | | | | 10,198 | | | | 10,198 | | Total | | | | | | $ | 92,845 | | | $ | 90,233 | |
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Changes in Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive income (loss) is primarily comprised of unrealized gains and losses on investments, net of taxes and adjustments we made to reclassify realized gains and losses on investments from other accumulated comprehensive income to our Consolidated Statement of Operations. The following table summarizes changes in accumulated other comprehensive income for the years ended December 31, 2016, 2015 and 2014 (in thousands): | | | Year Ended December 31, | | | | | 2016 | | | 2015 | | | 2014 | | Beginning balance accumulated other comprehensive (loss) income | | $ | (13,565 | ) | | $ | 39,747 | | | $ | 21,080 | | Unrealized (losses) gains on securities, net of tax (1) | | | (17,219 | ) | | | (33,101 | ) | | | 40,079 | | Amounts reclassified from accumulated other comprehensive (loss) income (2) | | | 447 | | | | (20,211 | ) | | | (21,412 | ) | Currency translation adjustment | | | (21 | ) | | | — | | | | — | | Net other comprehensive (loss) income for the period | | | (16,793 | ) | | | (53,312 | ) | | | 18,667 | | Ending balance accumulated other comprehensive (loss) income | | $ | (30,358 | ) | | $ | (13,565 | ) | | $ | 39,747 | |
| (1) | Other comprehensive income includes income tax expense of $12.8 million for the year ended December 31, 2014. There was no tax expense for other comprehensive income for the years ended December 31, 2016 or 2015. |
| (2) | Amounts for 2015 are included in the separate line called “Gain on investment in Regulus Therapeutics Inc.” on our Consolidated Statement of Operations. For 2014, $19.9 million is included in a separate line called “Gain on investment in Regulus Therapeutics Inc.”, with the remaining amount included in a separate line called “Gain on investments, net” on our Consolidated Statement of Operations. |
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Assets Measured at Fair Value on a Recurring Basis | The following tables present the major security types we held at December 31, 2016 and 2015 that are regularly measured and carried at fair value. The tables segregate each security type by the level within the fair value hierarchy of the valuation techniques we utilized to determine the respective securities’ fair value (in thousands):
| | | At December 31, 2016 | | | Quoted Prices in Active Markets (Level 1) | | | Significant Other Observable Inputs (Level 2) | | Cash equivalents (1) | | $ | 54,137 | | | $ | 54,137 | | | $ | — | | Corporate debt securities (2) | | | 396,221 | | | | — | | | | 396,221 | | Debt securities issued by U.S. government agencies (2) | | | 55,179 | | | | — | | | | 55,179 | | Debt securities issued by the U.S. Treasury (2) | | | 29,286 | | | | 29,286 | | | | — | | Debt securities issued by states of the U.S. and political subdivisions of the states (3) | | | 109,111 | | | | — | | | | 109,111 | | Investment in Regulus Therapeutics Inc. | | | 2,414 | | | | 2,414 | | | | — | | Total | | $ | 646,348 | | | $ | 85,837 | | | $ | 560,511 | |
| | | At December 31, 2015 | | | Quoted Prices in Active Markets (Level 1) | | | Significant Other Observable Inputs (Level 2) | | Cash equivalents (1) | | $ | 88,902 | | | $ | 88,902 | | | $ | — | | Corporate debt securities (2) | | | 438,426 | | | | — | | | | 438,426 | | Debt securities issued by U.S. government agencies (2) | | | 89,253 | | | | — | | | | 89,253 | | Debt securities issued by the U.S. Treasury (2) | | | 2,601 | | | | 2,601 | | | | — | | Debt securities issued by states of the U.S. and political subdivisions of the states (4) | | | 127,656 | | | | — | | | | 127,656 | | Investment in Regulus Therapeutics Inc. | | | 24,792 | | | | 24,792 | | | | — | | Total | | $ | 771,630 | | | $ | 116,295 | | | $ | 655,335 | |
| (1) | Included in cash and cash equivalents on our consolidated balance sheet. |
| (2) | Included in short-term investments on our consolidated balance sheet. |
(3) $9.3 million included in cash and cash equivalents on our consolidated balance sheet, with the difference included in short-term investments on our consolidated balance sheet.
(4) $7.5 million included in cash and cash equivalents on our consolidated balance sheet, with the difference included in short-term investments on our consolidated balance sheet. |
Reconciliation of Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | The following is a summary of our investments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2015 (in thousands):
| | | Year Ended December 31, | | | | | 2015 | | Beginning balance of Level 3 investments | | $ | 81,881 | | Transfers into Level 3 investments | | | — | | Total gains (losses) included in accumulated other comprehensive income (loss) | | | 22,377 | | Transfers out of Level 3 investments | | | (104,258 | ) | Ending balance of Level 3 investments | | $ | — | |
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