Investments (Tables)

3 Months Ended

Mar. 31, 2014

Investments [Abstract]

Summary of investments

The following table summarizes our investments as of March 31, 2014, and December 31, 2013 (in thousands):

	March 31, 2014				December 31, 2013
“Available-for-sale” marketable equity securities, cost basis	$	12,608			$	2,879
Unrealized gains	21,447			(1)	2,177
Unrealized losses	(1,078		)		(587		)
“Available-for-sale” marketable equity securities, at fair value	32,977				4,469
Investments accounted for under cost method	136,345				135,819
Total investments	$	169,322			$	140,288

(1) Increase in our investments during the three months ended March 31, 2014, was primarily related to an increase in unrealized gains of approximately $18.8 million related to our investments in publicly traded life science companies. These unrealized gains are a component of our comprehensive income, within our stockholders’ equity, and have not been recognized in the accompanying consolidated statement of income for the three months ended March 31, 2014.

Schedule of net investment income

The following table outlines our investment income, which is classified in other income in the accompanying consolidated statements of income (in thousands):

	Three Months Ended March 31,
	2014			2013
Investment gains	$	4,040		$	446
Investment losses	(1,694		)	(386		)
Investment income	$	2,346		$	60