F-22
Other-Than-
Temporary
Amortized
Unrealized
Impairment
Estimated
December 31, 2012
Cost
Gains
Losses
Loss
FairValue
Available-for-sale securities:
Corporate debt securities(1) ............................ $ 115,249 $
81 $
(9) $
— $ 115,321
Debt securities issuedbyU.S. government
agencies(1) ..................................................
12,100
2
(66)
—
12,036
Debt securities issuedby theU.S. Treasury ....
1,000
1
—
—
1,001
Debt securities issuedby states of the
UnitedStates andpolitical subdivisions of
the states ......................................................
16,560
18
(2)
—
16,576
Total securitieswith amaturityof one
year or less ..............................................
144,909
102
(77)
—
144,934
Corporate debt securities .................................
80,166
112
(92)
—
80,186
Debt securities issuedbyU.S. government
agencies .......................................................
8,034
38
—
—
8,072
Debt securities issuedby theU.S. Treasury ....
12,424
27
—
—
12,451
Debt securities issuedby states of the
UnitedStates and political subdivisions
of the states .................................................
8,306
31
(16)
—
8,321
Total securitieswith amaturityofmore
thanone year ...........................................
108,930
208
(108)
—
109,030
Total available-for-sale securities ........... $ 253,839 $
310 $
(185) $
— $ 253,964
Other-Than-
Temporary
Cost
Unrealized
Impairment
Estimated
December 31, 2012
Basis
Gains
Losses
Loss
FairValue
Equity securities:
Regulus Therapeutics Inc. ..................................... $ 15,526 $ 18,096 $
— $
— $ 33,622
Securities included inother current assets ............
1,579
4,175
—
(880)
4,874
Securities includeddeposits and other assets ........
625
—
—
—
625
Total equity securities ....................................... $ 17,730 $ 22,271 $
— $
(880) $ 39,121
Total available-for-sale and equity securities ........... $ 271,569 $ 22,581 $
(185) $
(880) $ 293,085
(1)
Includes investments classified as cash equivalents onour consolidatedbalance sheet.
Investmentswe consider to be temporarily impaired at December 31, 2013 are as follows (in thousands):
Less than 12months of
temporary impairment
More than 12months of
temporary impairment
Total temporary
impairment
Number of
Investments
Estimated
FairValue
Unrealized
Losses
Estimated
FairValue
Unrealized
Losses
Estimated
FairValue
Unrealized
Losses
Corporate debt securities ..............
148 $ 213,469 $ (412) $ 8,228 $
(8) $ 221,697 $ (420)
Debt securities issuedbyU.S.
government agencies ................
8
49,437
(143)
—
—
49,437
(143)
Debt securities issuedby states
of theUnitedStates and
political subdivisions of the
states .......................................
7
6,964
(52)
4,130
(4)
11,094
(56)
Total temporarily
impaired securities ...................
163 $ 269,870 $ (607) $ 12,358 $
(12) $ 282,228 $ (619)
We believe that the decline in value of these securities is temporary andprimarily related to the change inmarket interest
rates since purchase. We believe it ismore likely thannot thatwewill be able tohold these securities tomaturity. Thereforewe
anticipate full recoveryof their amortized cost basis atmaturity.
