Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis:

			Fair Value Measurements Using:
	Fair Value		Level 1		Level 2		Level 3
June 30, 2016:
Short-term investments:
Corporate debt securities	$	43,465		—	$	43,465		—
Certificates of deposit	$	10,000		—	$	10,000		—
Commercial paper	$	3,965		—	$	3,965		—
U.S. Government securities	$	2,002		—	$	2,002		—
Current assets:
Foreign currency derivative contracts	$	368		—	$	368		—
Long-term investments
Corporate debt securities	$	21,515		—	$	21,515		—
Non-current assets:
Foreign currency derivative contracts	$	35		—	$	35		—
Current liabilities:
Foreign currency derivative contracts	$	1,469		—	$	1,469		—
Contingent consideration	$	4,951		—		—	$	4,951
Non-current liabilities:
Contingent consideration	$	952,604		—		—	$	952,604
December 31, 2015:
Current liabilities:
Contingent consideration	$	4,900		—		—	$	4,900
Non-current liabilities:
Contingent consideration	$	262,368		—		—	$	262,368

Fair Value Adjustments Related to Contingent Consideration Liabilities

The following table presents fair value adjustments related to contingent consideration liabilities recorded by the Company for the periods presented:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2016		2015			2016		2015
Fair value adjustments:
BioMarin contingent consideration liability:
Increase to R&D expense	$	8,632	$	—		$	9,124	$	—
Increase to SG&A expense		673,983		—			676,468		—
Total BioMarin fair value adjustments		682,615		—			685,592		—
CureTech contingent consideration liability:
Increase (decrease) to R&D expense		365		(70	)		1,013		930
Increase to SG&A expense		1,348		1,083			3,682		4,083
Total CureTech fair value adjustments		1,713		1,013			4,695		5,013
Total fair value adjustments, net	$	684,328	$	1,013		$	690,287	$	5,013

Schedule of Roll-forward of Fair Value of Level 3 Instruments

The following table includes a roll-forward of the fair value of Level 3 financial instruments for the periods presented:

	Three Months Ended		Six Months Ended
	June 30, 2016		June 30, 2016
Contingent consideration (current and non-current):
Balance at beginning of period	$	273,227	$	267,268
Amounts acquired or issued		—		—
Net change in fair value		684,328		690,287
Settlements		—		—
Transfers in and/or out of Level 3		—		—
Balance at end of period	$	957,555	$	957,555

Fair Value of Other Financial Instruments Not Measured on Recurring Basis

The following table presents the total balance of the Company’s other financial instruments that are not measured at fair value on a recurring basis:

			Fair Value Measurements Using:
	Total Balance		Level 1		Level 2		Level 3
June 30, 2016:
Assets:
Bank deposits (included in “Cash and cash equivalents”)	$	267,761	$	267,761		—		—
December 31, 2015:
Assets:
Bank deposits (included in “Cash and cash equivalents”)	$	225,853	$	225,853		—		—
Liabilities:
Borrowings under Revolving Credit Facility	$	75,000	$	75,000		—		—