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Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2013
Summarizes Activity of the Product Revenue Allowance and Reserve Categories

The following table summarizes activity in each of the product revenue allowance and reserve categories described above for the quarter ended March 31, 2013 (in thousands):

 

     Trade
Allowances		     Rebates,
Chargebacks
and Discounts		     Product
Returns		      Other
Incentives		     Total  

Balance at January 28, 2013

    $ —        $ —        $ —         $ —        $ —     

Provision related to current period and deferred sales

      1,073        259        72         830        2,234   

Credits/payments made for current period and deferred sales

      (566 )      (3 )      —           (209 )      (779 ) 
  

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Balance at March 31, 2013

    $ 507      $ 256      $ 72       $ 620      $ 1,455   
  

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  
Revenue Recognized and Deferred

The following table summarizes revenue recognized and deferred during the quarter ended March 31, 2013 (in thousands):

 

     March 31, 2013      December 31, 2012  

Revenue recognized

    $ 2,341       $ —     

Deferred revenue

      2,865         —     
  

 

 

     

 

 

  
   $ 5,206       $ —     
  

 

 

     

 

 

  
Expensed and Capitalized Cost of Goods

In conjunction with the Company’s recognition and deferral of revenues, the Company expensed and capitalized the associated cost of goods, as follows, during the quarter ended March 31, 2013 (in thousands):

 

     March 31, 2013      December 31, 2012  

Cost of goods sold expensed

    $ 1,287       $ —     

Finished goods inventory held by others

      1,422         —     
  

 

 

     

 

 

  
   $ 2,709       $ —     
  

 

 

     

 

 

  
Assets and Liability Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s assets and liabilities as of March 31, 2013 and December 31, 2012 that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

 

     March 31, 2013  
In millions    Total      Level 1      Level 2      Level 3  

Asset:

            

Cash equivalents—money markets

    $ 41.4       $ 41.4       $ —        $ —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Liabilities:

            

Warrant derivative liability

    $ 49.0       $ —        $ —        $ 49.0   

Long term debt redemption feature

    $ 15.6       $ —        $ —        $ 15.6   

Foreign currency contracts

    $ 0.7       $ —        $ —        $ 0.7   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

     December 31, 2012  
In millions    Total      Level 1      Level 2      Level 3  

Asset:

            

Cash equivalents—money markets

    $ 64.1       $ 64.1       $ —        $ —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Liability:

            

Warrant derivative liability

    $ 54.9       $ —        $ —        $ 54.9   

Long term debt redemption feature

    $ 14.6       $ —        $ —        $ 14.6   
  

 

 

     

 

 

     

 

 

     

 

 

  
Change in Fair Value of Warrant Derivative Liabilities

The change in the fair value of the warrant derivative liability is as follows (in thousands):

 

     October
2009
Warrants		     Debt
Redemption
Feature		      Foreign
Exchange
Contracts		      Totals  

Balance at December 31, 2011

    $ 123,125      $ —         $ —         $ 123,125   
  

 

 

    

 

 

     

 

 

     

 

 

  

Loss on change in fair value of derivative liability

      66,209        —           —           66,209   

Compensation expense for change in fair value of warrants issued to former employees

      2,374              2,374   

Transfers to equity

      (321 )      —           —           (321 )

Balance at March 31, 2012

    $ 191,387      $ —         $ —         $ 191,387   
  

 

 

    

 

 

     

 

 

     

 

 

  
     October
2009
Warrants		     Debt
Redemption
Feature		      Foreign
Exchange
Contracts		      Totals  

Balance at December 31, 2012

    $ 54,854      $ 14,576       $ —         $ 69,430    
  

 

 

    

 

 

     

 

 

     

 

 

  

(Gain) loss on change in fair value of derivative liabilities

      (5,392 )     1,024         748         (3,620 )

Compensation income for change in fair value of warrants issued to former employees

      (451 )           (451 )

Transfers to equity

      —          —           —           —    
  

 

 

    

 

 

     

 

 

     

 

 

  

Balance at March 31, 2013

    $ 49,011      $ 15,600       $ 748       $ 65,359