Annual report pursuant to Section 13 and 15(d)

Derivative Contracts (Tables)

v2.4.1.9
Derivative Contracts (Tables)
12 Months Ended
Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of fair values and derivative financial instrument
The following table summarizes the fair values and the presentation of our derivative financial instruments in the Consolidated Balance Sheets:
(In thousands)
Balance Sheet Component
 
December 31,
2014
 
December 31,
2013
Derivative financial instruments:
 
 
 
 
 
Pharmsynthez Note Receivable and Purchase Option
Prepaid expenses and other current assets
 
$

 
$
6,151

Common stock options/warrants
Investments, net
 
$
6,314

 
$
5,988

Embedded conversion option
2033 Senior Notes, net of discount and estimated fair value of embedded derivatives
 
$
65,947

 
$
101,087

Forward contracts (1)
Current portion of lines of credit and notes payable
 
$
36

 
$
49

(1) 
Gains on forward contracts are recorded in Prepaid expenses and other current assets. Losses on forward contracts are recorded in Accrued expenses
Summary of the (losses) and gains recorded in Fair value changes of derivative financial instruments
The following table summarizes the losses and gains recorded for the years ended December 31, 2014 and 2013:
 
For the years ended December 31,
(In thousands)
2014
 
2013
 
2012
Derivative gain (loss):
 
 
 
 
 
Common stock options/warrants (1)
$
1,193

 
$
6,544

 
$
1,350

2033 Senior Notes
(12,213
)
 
(52,742
)
 

Forward contracts
$
388

 
$
256

 
$
(132
)
Total
$
(10,632
)
 
$
(45,942
)
 
$
1,218


(1) 
Includes the Pharmsynthez Note Receivable and the Purchase Option.

Outstanding contracts recorded at fair value and their maturity details
The outstanding forward contracts at December 31, 2014 and 2013, have been recorded at fair value and their maturity details are as follows:
(In thousands)
Days until maturity
 
Contract value
 
Fair value at
 December 31, 2014
 
Effect on income (loss)
0 to 30
 
$
750

 
$
780

 
$
30

31 to 60
 
90

 
93

 
3

61 to 90
 

 

 

91 to 120
 
68

 
71

 
3

121 to 180
 

 

 

Total
 
$
908

 
$
944

 
$
36

(In thousands)
Days until maturity
 
Contract value
 
Fair value at
 December 31, 2013
 
Effect on income (loss)
0 to 30
 
$
472

 
$
489

 
$
17

31 to 60
 
561

 
579

 
18

61 to 90
 
503

 
517

 
14

91 to 120
 

 

 

121 to 180
 

 

 

More than 180
 

 

 

Total
 
$
1,536

 
$
1,585

 
$
49