Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

Schedule of inventories, net of reserves

Inventories are stated at the lower of cost (first-in, first-out method) or market (current replacement cost) and consist of the following, net of reserves (in thousands):

	As of December 31,
	2013		2012
Raw materials	$	18,377	$	13,603
Work-in-progress		11,802		11,708
Finished goods		17,579		11,943
Total inventories(1)	$	47,758	$	37,254

(1)

During the year ended December 31, 2012, we increased our reserves for obsolescence by $8.9 million, which represents the cost of the nebulizers incorporated into our Tyvaso Inhalation System expected to be rendered obsolete based on the then pending commercial release in 2013 of our improved nebulizer, the TD-100.

Schedule of goodwill and other intangible assets

Goodwill and other intangible assets comprise the following (in thousands):

	As of December 31, 2013							As of December 31, 2012
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Goodwill(1)	$	10,703	$	—		$	10,703	$	10,530	$	—		$	10,530
Other intangible assets(1):
Technology, patents and trade names		5,049		(3,730	)		1,319		4,859		(2,825	)		2,034
Customer relationships and non-compete agreements		4,947		(2,886	)		2,061		4,749		(2,232	)		2,517
Contract-based		2,020		(1,988	)		32		2,020		(693	)		1,327
Total	$	22,719	$	(8,604	)	$	14,115	$	22,158	$	(5,750	)	$	16,408

(1)

Includes foreign currency translation adjustments.

Future amortization of other intangible assets

As of December 31, 2013, aggregate amortization expense relating to intangible assets for each of the five succeeding years and thereafter is estimated as follows (in thousands):

Year Ended December 31,
2014	$	1,385
2015		1,090
2016		562
2017		375
2018		—
Thereafter		—
	$	3,412

Schedule of property, plant and equipment and the estimated useful lives

Buildings	25-39 Years
Building improvements	10-39 Years
Furniture, equipment and vehicles	3-15 Years
Leasehold improvements	Remaining lease term, or the estimated useful life of the improvement, whichever is shorter

        Property, plant and equipment consists of the following (in thousands):

	As of December 31,
	2013			2012
Land	$	47,677		$	38,104
Buildings, building improvements and leasehold improvements		381,577			393,174
Buildings under construction		32,609			4,302
Furniture, equipment and vehicles		109,295			96,096
		571,158			531,676
Less—accumulated depreciation		(106,208	)		(77,991	)
Property, plant and equipment, net	$	464,950		$	453,685

Schedule of revenues from a single customer

Estimated net revenues from that customer were as follows (in thousands):

	Year Ended December 31,
	2013		2012		2011
Accredo Health Group, Inc.	$	632,599	$	514,095	$	455,504