Available-for-Sale Securities and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Available For Sale Securities And Fair Value Measurements Abstract

Schedule of available-for-sale securities

(In thousands)	December 31, 2014		December 31, 2013
Cash and cash equivalents	$	95,090	$	125,009
Short-term marketable securities		143,698		321,615
Marketable securities		42,856		55,374
Restricted cash		—		833
Total	$	281,644	$	502,831

Schedule of amortized cost and estimated fair values for available-for-sale securities

	December 31, 2014
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Other Than Temporary Impairment Loss			Estimated Fair Value
U.S. government securities	$	30,019	$	24	$	—		$	—		$	30,043
U.S. government agencies		34,756		6		(12	)		—			34,750
U.S. corporate notes		80,880		5		(110	)		—			80,775
U.S. commercial paper		34,469		—		—			—			34,469
Ordinary shares of Theravance Biopharma		10,269		—		—			(3,752	)		6,517
Money market funds		95,090		—		—			—			95,090
Total	$	285,483	$	35	$	(122	)	$	(3,752	)	$	281,644

	December 31, 2013
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Other Than Temporary Impairment Loss		Estimated Fair Value
U.S. government securities	$	42,104	$	55	$	(1	)	$	—	$	42,158
U.S. government agencies		141,278		61		(8	)		—		141,331
U.S. corporate notes		94,923		54		—			—		94,977
U.S. commercial paper		102,021		2		(1	)		—		102,022
Money market funds		122,343		—		—			—		122,343
Total	$	502,669	$	172	$	(10	)	$	—	$	502,831

Schedule of estimated fair values

	Estimated Fair Value Measurements at Reporting Date Using:
	Quoted Price in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Types of Instruments (In thousands)	Level 1		Level 2		Level 3		Total
Assets at December 31, 2014
U.S. government securities	$	30,043	$	—	$	—	$	30,043
U.S. government agencies		—		34,750		—		34,750
U.S. corporate notes		—		80,775		—		80,775
U.S. commercial paper		—		34,469		—		34,469
Ordinary shares of Theravance Biopharma		6,517		—		—		6,517
Money market funds		95,090		—		—		95,090
Total assets measured at estimated fair value	$	131,650	$	149,994	$	—	$	281,644
Liabilities at December 31, 2014
Convertible subordinated notes due 2023	$	—	$	197,095	$	—	$	197,095
Non-recourse notes due 2029		—		456,411		—		456,411
Total fair value of liabilities	$	—	$	653,506	$	—	$	653,506

	Estimated Fair Value Measurements at Reporting Date Using:
	Quoted Price in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Types of Instruments (In thousands)	Level 1		Level 2		Level 3		Total
Assets at December 31, 2013
U.S. government securities	$	42,158	$	—	$	—	$	42,158
U.S. government agencies		98,236		43,095		—		141,331
U.S. corporate notes		61,591		33,386		—		94,977
U.S. commercial paper		3,499		98,523		—		102,022
Money market funds		122,343		—		—		122,343
Total assets measured at estimated fair value	$	327,827	$	175,004	$	—	$	502,831
Liabilities at December 31, 2013
Convertible subordinated notes due 2023	$	—	$	408,250	$	—	$	408,250