XML 55 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value on a recurring basis
The following tables represent the fair value hierarchy as of December 31, 2017 and 2016, for those assets and liabilities that we measure at fair value on a recurring basis (in thousands):
 
Fair Value Measurements at December 31, 2017 Using:
 
Total
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Cash equivalents
$
4,591

 
$
4,591

 
$

 
$

Corporate debt securities
116,152

 

 
116,152

 

U.S. treasury and government agency securities
9,291

 

 
9,291

 

Commercial paper
1,999

 

 
1,999

 

Certificates of deposit
9,151

 

 
9,151

 

Total Assets
$
141,184

 
$
4,591

 
$
136,593

 
$

Liabilities:
 

 
 

 
 

 
 

Contingent consideration - Lumara Health
$
49,187

 
$

 
$

 
$
49,187

Contingent consideration - MuGard
898

 

 

 
898

Total Liabilities
$
50,085

 
$

 
$

 
$
50,085

 
 
Fair Value Measurements at December 31, 2016 Using:
 
Total
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Cash equivalents
$
9,951

 
$
9,951

 
$

 
$

Corporate debt securities
245,857

 

 
245,857

 

U.S. treasury and government agency securities
12,364

 

 
12,364

 

Commercial paper
40,560

 

 
40,560

 

Certificates of deposit
6,000

 

 
6,000

 

Total Assets
$
314,732

 
$
9,951

 
$
304,781

 
$

Liabilities:
 
 
 
 
 
 
 
Contingent consideration - Lumara Health
145,974

 
$

 
$

 
$
145,974

Contingent consideration - MuGard
2,021

 

 

 
2,021

Total Liabilities
$
147,995

 
$

 
$

 
$
147,995

Schedule of reconciliation of contingent consideration obligations
The following table presents a reconciliation of contingent consideration obligations related to the acquisition of Lumara Health and the MuGard Rights (in thousands):
Balance as of January 1, 2016
$
222,559

Payments made
(100,246
)
Adjustments to fair value of contingent consideration
25,682

Balance as of December 31, 2016
$
147,995

Payments made
(50,224
)
Adjustments to fair value of contingent consideration
(47,686
)
Balance as of December 31, 2017
$
50,085