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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2016

FAIR VALUE MEASUREMENTS

Summary of the Company's assets and liabilities measured at fair value on a recurring basis

		September 30,
(In thousands)		2016			Level 1			Level 2			Level 3
Assets:
Cash equivalents		$	1,667		$	1,667		$	—		$	—
U.S. government and agency debt securities			250,943			140,276			110,667			—
Corporate debt securities			151,520			—			151,520			—
International government agency debt securities			16,520			—			16,520			—
Contingent consideration			58,400			—			—			58,400
Common stock warrants			1,545			—			—			1,545
Total		$	480,595		$	141,943		$	278,707		$	59,945

		December 31,
		2015			Level 1			Level 2			Level 3
Assets:
Cash equivalents		$	1,666		$	1,666		$	—		$	—
U.S. government and agency debt securities			352,188			214,456			137,732			—
Corporate debt securities			213,209			—			213,209			—
International government agency debt securities			48,962			—			48,962			—
Contingent consideration			55,300			—			—			55,300
Common stock warrants			1,821			—			—			1,821
Total		$	673,146		$	216,122		$	399,903		$	57,121

Schedule of rollforward of the fair value of the Company's investments whose fair value was determined using Level 3 inputs

(In thousands)		Fair Value
Balance, January 1, 2016		$	57,121
Change in the fair value of contingent consideration			3,100
Decrease in the fair value of warrants			(276)
Balance, September 30, 2016		$	59,945

Estimated fair value of term loans

The estimated fair value of Term-Loan B-1, which was based on quoted market price indications (Level 2 in the fair value hierarchy) and which may not be representative of the actual value that could have been or will be realized in the future, was as follows at September 30, 2016:  

		Carrying			Estimated
(In thousands)		Value			Fair Value
Term Loan B-1		$	285,576		$	287,761

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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-Section 50
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-Name Accounting Standards Codification
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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 3
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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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