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Marketable Securities | 3 Months Ended
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Mar. 31, 2018
Investments Debt And Equity Securities [Abstract] |
Marketable Securities |
9. | Marketable Securities
Marketable securities consist of the Company’s ownership of equity securities carried at fair value. The investments had a fair value of $96.1 million and $208.2 million as of March 31, 2018 and December 31, 2017, respectively. Effective January 1, 2018, all marketable securities are accounted for at fair value in accordance with ASU 2016-01. As of March 31, 2018, the Company held marketable securities with a readily determinable fair value of $96.1 million. These equity securities are measured at fair value, with any changes in fair value recognized in earnings and included in “Other income (loss)” in the Company’s unaudited condensed consolidated statements of operations. During the three months ended March 31, 2018, the Company recognized realized and unrealized net gains of $11.4 million, related to the mark-to-market on these shares and any related hedging transactions, when applicable. As of December 31, 2017, the Company held marketable securities classified as trading securities with a fair value of $198.3 million. Trading securities were measured at fair value, with any changes in fair value recognized in earnings and included in “Other income (loss)” in the Company’s unaudited condensed consolidated statements of operations. During the three months ended March 31, 2017, the Company recognized realized and unrealized net gains of $5.9 million, related to the mark-to-market on marketable securities classified as trading securities and any related hedging transactions when applicable. As of December 31, 2017, the Company held marketable securities classified as available-for-sale with a fair value of $9.9 million. Available-for-sale securities were measured at fair value, with unrealized gains or losses included as part of “Other comprehensive income (loss)” in the Company’s unaudited condensed consolidated statements of comprehensive income (loss). During the three months ended March 31, 2017, the Company recognized a gain of $0.3 million related to marketable securities classified as available-for-sale. During the three months ended March 31, 2018, the Company sold marketable securities with a fair value of $123.5 million at the time of sale. The Company did not purchase any marketable securities during the three months ended March 31, 2018.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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