Quarterly report pursuant to Section 13 or 15(d)

Derivative Contracts (Tables)

v2.4.0.8
Derivative Contracts (Tables)
6 Months Ended
Jun. 30, 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 Condensed Consolidated Balance Sheets:
(In thousands)
Balance Sheet Component
 
June 30,
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
 
$
5,980

 
$
5,988

Embedded conversion option
2033 Senior Notes, net of discount and estimated fair value of embedded derivatives
 
$
52,964

 
$
101,087

Forward contracts (1)
Current portion of lines of credit and notes payable
 
$
3,624

 
$
1,585

(1) 
The loss on forward contracts is recorded in Accrued expenses. The gain on the forward contracts is recorded in Prepaid expenses and other current assets.
Summary of loss (gain) recorded in Fair value changes of derivative financial instruments
The following table summarizes the (losses) and gains recorded during the three and six months ended June 30, 2014 and 2013:
 
Three months ended June 30,
 
Six months ended June 30,
(In thousands)
2014
 
2013
 
2014
 
2013
Derivative gain (loss):
 
 
 
 
 
 
 
Common stock options/warrants
(860
)
 
2,584

 
$
(263
)
 
$
3,844

2033 Senior Notes
11,882

 
9,913

 
770

 
(14,875
)
Forward contracts
(55
)
 
154

 
(55
)
 
133

Total
$
10,967

 
$
12,651

 
$
452

 
$
(10,898
)
Outstanding contracts recorded at fair value and their maturity details
The outstanding forward contracts at June 30, 2014 and December 31, 2013, have been recorded at fair value, and their maturity details are as follows:
(In thousands)
Days until maturity
 
Contract value
 
Fair value at
 June 30, 2014
 
Effect on income (loss)
0 to 30
 
$
1,157

 
$
1,146

 
$
(11
)
31 to 60
 
966

 
951

 
(15
)
61 to 90
 
623

 
612

 
(11
)
91 to 120
 
831

 
815

 
(16
)
121 to 180
 
102

 
100

 
(2
)
Total
 
$
3,679

 
$
3,624

 
$
(55
)
(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
 
562

 
579

 
18

61 to 90
 
503

 
517

 
14

91 to 120
 

 

 

121 to 180
 

 

 

More than 180
 

 

 

Total
 
$
1,537

 
$
1,585

 
$
49