Financial Instruments And Risk Management (Tables)

9 Months Ended

Sep. 30, 2012

Financial Assets And Liabilities Carried At Fair Value

Financial assets and liabilities carried at fair value are classified in the tables below in one of the three categories described above:



	September 30, 2012
(In thousands)	Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	44,152	$	—	$	—	$	44,152
Total cash equivalents	44,152		—		—		44,152
Trading securities:
Equity securities — exchange traded funds	10,284		—		—		10,284
Total trading securities	10,284		—		—		10,284
Available-for-sale fixed income investments:
U.S. Treasuries	—		11,495		—		11,495
Corporate bonds	—		8,030		—		8,030
Agency mortgage-backed securities	—		1,184		—		1,184
Other	—		2,617		—		2,617
Total available-for-sale fixed income investments	—		23,326		—		23,326
Available-for-sale equity securities:
Biosciences industry	70		—		—		70
Total available-for-sale equity securities	70		—		—		70
Foreign exchange derivative assets	—		5,261		—		5,261
Interest rate swap derivative assets	—		46,671		—		46,671
Purchased cash convertible note hedge	—		524,800		—		524,800
Total assets at fair value ⁽¹⁾	$	54,506	$	600,058	$	—	$	654,564
Financial Liabilities:
Foreign exchange derivative liabilities	$	—	$	2,092	$	—	$	2,092
Interest rate swap derivative liabilities	—		10,435		—		10,435
Cash conversion feature of Cash Convertible Notes	—		524,800		—		524,800
Contingent consideration	—		—		401,363		401,363
Total liabilities at fair value ⁽¹⁾	$	—	$	537,327	$	401,363	$	938,690



	December 31, 2011
(In thousands)	Level 1		Level 2		Level 3		Total
Financial Assets:
Cash equivalents:
Money market funds	$	152,331	$	—	$	—	$	152,331
Total cash equivalents	152,331		—		—		152,331
Trading securities:
Equity securities — exchange traded funds	6,760		—		—		6,760
Total trading securities	6,760		—		—		6,760
Available-for-sale fixed income investments:
U.S. Treasuries	—		1,519		—		1,519
Corporate bonds	—		7,192		—		7,192
Agency mortgage-backed securities	—		12,346		—		12,346
Other	—		2,697		—		2,697
Total available-for-sale fixed income investments	—		23,754		—		23,754
Available-for-sale equity securities:
Biosciences industry	172		—		—		172
Total available-for-sale equity securities	172		—		—		172
Foreign exchange derivative assets	—		3,802		—		3,802
Interest rate swap derivative assets	—		29,773		—		29,773
Purchased cash convertible note hedge	—		460,000		—		460,000
Total assets at fair value ⁽¹⁾	$	159,263	$	517,329	$	—	$	676,592
Financial Liabilities:
Foreign exchange derivative liabilities	$	—	$	68,835	$	—	$	68,835
Interest rate swap derivative liabilities	—		658		—		658
Cash conversion feature of Cash Convertible Notes	—		460,000		—		460,000
Contingent consideration	—		—		376,110		376,110
Total liabilities at fair value ⁽¹⁾	$	—	$	529,493	$	376,110	$	905,603

____________


⁽¹⁾	The Company chose not to elect the fair value option for its financial assets and liabilities that had not been previously carried at fair value. Therefore, material financial assets and liabilities not carried at fair value, such as short-term and long-term debt obligations and trade accounts receivable and payable, are still reported at their carrying values.

Designated as Hedging Instrument

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Fair Values of Derivative Instruments

Derivatives Designated as Hedging Instruments



	Asset Derivatives
	September 30, 2012			December 31, 2011
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Interest rate swaps	Prepaid expenses and other current assets	$	46,671	Prepaid expenses and other current assets	$	29,773
Foreign currency forward contracts	Prepaid expenses and other current assets	2,241		Prepaid expenses and other current assets	—
Total		$	48,912		$	29,773



	Liability Derivatives
	September 30, 2012			December 31, 2011
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Interest rate swaps	Other current liabilities	$	10,435	Other current liabilities	$	658
Foreign currency forward contracts	Other current liabilities	—		Other current liabilities	57,075
Total		$	10,435		$	57,733

Not Designated as Hedging Instruments

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Fair Values of Derivative Instruments

Derivatives Not Designated as Hedging Instruments



	Asset Derivatives
	September 30, 2012			December 31, 2011
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign currency forward contracts	Prepaid expenses and other current assets	$	3,020	Prepaid expenses and other current assets	$	3,802
Purchased cash convertible note hedge	Other assets	524,800		Other assets	460,000
Total		$	527,820		$	463,802



	Liability Derivatives
	September 30, 2012			December 31, 2011
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign currency forward contracts	Other current liabilities	$	2,092	Other current liabilities	$	11,760
Cash conversion feature of Cash Convertible Notes	Long-term debt	524,800		Long-term debt	460,000
Total		$	526,892		$	471,760

Effect Of Derivative Instruments On The Condensed Consolidated Statements Of Operations

The Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations

Derivatives Not Designated as Hedging Instruments



	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
(In thousands)		2012			2011			2012			2011
Foreign currency forward contracts	Other income, net	$	(7,860	)	$	(19,368	)	$	(16,517	)	$	(5,244	)
Cash conversion feature of Cash Convertible Notes	Other income, net	(98,700		)	286,500			(64,800		)	177,500
Purchased cash convertible note hedge	Other income, net	98,700			(286,500		)	64,800			(177,500		)
Total		$	(7,860	)	$	(19,368	)	$	(16,517	)	$	(5,244	)

Fair Value Hedging

Derivative [Line Items]

Effect Of Derivative Instruments On The Condensed Consolidated Statements Of Operations

The Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations

Derivatives in Fair Value Hedging Relationships



	Location of Gain Recognized in Earnings on Derivatives	Amount of Gain Recognized in Earnings on Derivatives
(In thousands)		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
Interest rate swaps	Interest expense	$	13,050	$	34,985	$	26,509	$	39,780
Total		$	13,050	$	34,985	$	26,509	$	39,780



	Location of Loss Recognized in Earnings on Hedged Items	Amount of Loss Recognized in Earnings on Hedging Items
(In thousands)		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2012			2011			2012			2011
2018 Senior Notes	Interest expense	$	(9,823	)	$	(34,985	)	$	(16,897	)	$	(39,780	)
Total		$	(9,823	)	$	(34,985	)	$	(16,897	)	$	(39,780	)

Cash Flow Hedging

Derivative [Line Items]

Effect Of Derivative Instruments On The Condensed Consolidated Statements Of Operations

The Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations

Derivatives in Cash Flow Hedging Relationships



	Amount of Gain or (Loss) Recognized in AOCE (Net of Tax) on Derivative (Effective Portion)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(In thousands)	2012			2011			2012			2011
Foreign currency forward contracts	$	23,981		$	(30,105	)	$	(11	)	$	(28,417	)
Interest rate swaps	(5,485		)	2,354			(7,836		)	5,243
Total	$	18,496		$	(27,751	)	$	(7,847	)	$	(23,174	)



	Location of Gain or (Loss) Reclassified from AOCE into Earnings (Effective Portion)	Amount of Gain or (Loss) Reclassified from AOCE into Earnings (Effective Portion)
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
(In thousands)		2012			2011			2012			2011
Foreign currency forward contracts	Net revenues	$	(15,062	)	$	(267	)	$	(33,357	)	$	2,099
Interest rate swaps	Interest expense	(651		)	(466		)	(1,670		)	(2,655		)
Total		$	(15,713	)	$	(733	)	$	(35,027	)	$	(556	)



	Location of Gain Excluded from the Assessment of Hedge Effectiveness	Amount of Gain Excluded from the Assessment of Hedge Effectiveness
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(In thousands)		2012		2011		2012		2011
Foreign currency forward contracts	Other income, net	$	22,210	$	12,158	$	43,281	$	17,246
Total		$	22,210	$	12,158	$	43,281	$	17,246

Net Investment Hedging

Derivative [Line Items]

Effect Of Derivative Instruments On The Condensed Consolidated Statements Of Operations

The Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations

Derivatives in Net Investment Hedging Relationships



	Amount of Gain or (Loss) Recognized in AOCE (Net of Tax) on Derivative (Effective Portion)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2012		2011		2012		2011
Foreign currency borrowings	$	—	$	7,428	$	—	$	(39,868	)
Total	$	—	$	7,428	$	—	$	(39,868	)

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details