Financial Instruments And Risk Management (Tables)

9 Months Ended

Sep. 30, 2013

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



	September 30, 2013
(In thousands)	Level 1		Level 2		Level 3		Total
Recurring fair value measurements
Financial Assets
Cash equivalents:
Money market funds	$	17,822	$	—	$	—	$	17,822
Total cash equivalents	17,822		—		—		17,822
Trading securities:
Equity securities — exchange traded funds	15,393		—		—		15,393
Total trading securities	15,393		—		—		15,393
Available-for-sale fixed income investments:
U.S. Treasuries	—		11,201		—		11,201
Corporate bonds	—		9,978		—		9,978
Agency mortgage-backed securities	—		747		—		747
Other	—		2,697		—		2,697
Total available-for-sale fixed income investments	—		24,623		—		24,623
Available-for-sale equity securities:
Biosciences industry	173		—		—		173
Total available-for-sale equity securities	173		—		—		173
Foreign exchange derivative assets	—		5,264		—		5,264
Interest rate swap derivative assets	—		213,825		—		213,825
Purchased cash convertible note hedge	—		1,078,900		—		1,078,900
Total assets at recurring fair value measurement	$	33,388	$	1,322,612	$	—	$	1,356,000
Financial Liabilities
Foreign exchange derivative liabilities	$	—	$	83,990	$	—	$	83,990
Interest rate swap derivative liabilities	—		13,957		—		13,957
Cash conversion feature of Cash Convertible Notes	—		1,078,900		—		1,078,900
Contingent consideration	—		—		406,216		406,216
Total liabilities at recurring fair value measurement	$	—	$	1,176,847	$	406,216	$	1,583,063



	December 31, 2012
(In thousands)	Level 1		Level 2		Level 3		Total
Recurring fair value measurements
Financial Assets
Cash equivalents:
Money market funds	$	135,209	$	—	$	—	$	135,209
Total cash equivalents	135,209		—		—		135,209
Trading securities:
Equity securities — exchange traded funds	10,913		—		—		10,913
Total trading securities	10,913		—		—		10,913
Available-for-sale fixed income investments:
U.S. Treasuries	—		11,085		—		11,085
Corporate bonds	—		8,189		—		8,189
Agency mortgage-backed securities	—		1,050		—		1,050
Other	—		2,502		—		2,502
Total available-for-sale fixed income investments	—		22,826		—		22,826
Available-for-sale equity securities:
Biosciences industry	102		—		—		102
Total available-for-sale equity securities	102		—		—		102
Foreign exchange derivative assets	—		5,818		—		5,818
Interest rate swap derivative assets	—		36,647		—		36,647
Purchased cash convertible note hedge	—		636,300		—		636,300
Total assets at recurring fair value measurement	$	146,224	$	701,591	$	—	$	847,815
Financial Liabilities
Foreign exchange derivative liabilities	$	—	$	19,228	$	—	$	19,228
Interest rate swap derivative liabilities	—		9,823		—		9,823
Cash conversion feature of Cash Convertible Notes	—		636,300		—		636,300
Contingent consideration	—		—		379,197		379,197
Total liabilities at recurring fair value measurement	$	—	$	665,351	$	379,197	$	1,044,548

Fair Value Hedging Relationships

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

Derivatives in Fair Value Hedging Relationships



	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives
(In thousands)		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013			2012
Interest rate swaps	Interest expense	$	5,354	$	13,050	$	(4,492	)	$	26,509
Total		$	5,354	$	13,050	$	(4,492	)	$	26,509



	Location of (Loss) or Gain Recognized in Earnings on Hedged Items	Amount of (Loss) or Gain Recognized in Earnings on Hedged Items
(In thousands)		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2013			2012			2013		2012
2016 Senior Notes	Interest expense	$	(1,747	)	$	—		$	833	$	—
2018 Senior Notes (6.00% coupon)	Interest expense	211			(9,823		)	14,331		(16,897		)
Total		$	(1,536	)	$	(9,823	)	$	15,164	$	(16,897	)

Cash Flow Hedging Relationships

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

Derivatives in Cash Flow Hedging Relationships



	Amount of (Loss) or Gain Recognized in AOCE (Net of Tax) on Derivative (Effective Portion)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(In thousands)	2013			2012			2013			2012
Foreign currency forward contracts	$	(37,371	)	$	23,981		$	(84,826	)	$	(11	)
Interest rate swaps	4,851			(5,485		)	119,837			(7,836		)
Total	$	(32,520	)	$	18,496		$	35,011		$	(7,847	)



	Location of Loss Reclassified from AOCE into Earnings (Effective Portion)	Amount of Loss Reclassified from AOCE into Earnings (Effective Portion)
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
(In thousands)		2013			2012			2013			2012
Foreign currency forward contracts	Net revenues	$	(22,521	)	$	(15,062	)	$	(44,365	)	$	(33,357	)
Interest rate swaps	Interest expense	—			(651		)	(1,408		)	(1,670		)
Interest rate swaps	Other (expense) income, net	—			—			(818		)	—
Total		$	(22,521	)	$	(15,713	)	$	(46,591	)	$	(35,027	)



	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)		2013		2012		2013		2012
Foreign currency forward contracts	Other (expense) income, net	$	16,239	$	22,210	$	43,455	$	43,281
Total		$	16,239	$	22,210	$	43,455	$	43,281

Designated as Hedging Instruments

Fair Values of Derivative Instruments

Derivatives Designated as Hedging Instruments



	Asset Derivatives
	September 30, 2013			December 31, 2012
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Interest rate swaps	Prepaid expenses and other current assets	$	90,682	Prepaid expenses and other current assets	$	36,647
Interest rate swaps	Other assets	123,143		Other assets	—
Total		$	213,825		$	36,647



	Liability Derivatives
	September 30, 2013			December 31, 2012
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Interest rate swaps	Other current liabilities	$	13,957	Other current liabilities	$	9,823
Foreign currency forward contracts	Other current liabilities	81,427		Other current liabilities	15,863
Total		$	95,384		$	25,686

Not Designated as Hedging Instruments

Fair Values of Derivative Instruments

Derivatives Not Designated as Hedging Instruments



	Asset Derivatives
	September 30, 2013			December 31, 2012
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign currency forward contracts	Prepaid expenses and other current assets	$	5,264	Prepaid expenses and other current assets	$	5,818
Purchased cash convertible note hedge	Other assets	1,078,900		Other assets	636,300
Total		$	1,084,164		$	642,118



	Liability Derivatives
	September 30, 2013			December 31, 2012
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign currency forward contracts	Other current liabilities	$	2,563	Other current liabilities	$	3,365
Cash conversion feature of Cash Convertible Notes	Long-term debt	1,078,900		Long-term debt	636,300
Total		$	1,081,463		$	639,665

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)		2013			2012			2013			2012
Foreign currency forward contracts	Other (expense) income, net	$	13,360		$	(7,860	)	$	9,574		$	(16,517	)
Cash conversion feature of Cash Convertible Notes	Other (expense) income, net	(299,200		)	(98,700		)	(442,600		)	(64,800		)
Purchased cash convertible note hedge	Other (expense) income, net	299,200			98,700			442,600			64,800
Total		$	13,360		$	(7,860	)	$	9,574		$	(16,517	)