Document And Entity Information
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3 Months Ended | |
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Mar. 31, 2012
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Apr. 26, 2012
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Document and Entity Information [Abstract] | ||
Entity Registrant Name | PDL BIOPHARMA, INC. | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 139,884,999 | |
Amendment Flag | false | |
Entity Central Index Key | 0000882104 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Large Accelerated Filer | |
Entity Well-known Seasoned Issuer | Yes | |
Document Period End Date | Mar. 31, 2012 | |
Document Fiscal Year Focus | 2012 | |
Document Fiscal Period Focus | Q1 |
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If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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End date of current fiscal year in the format --MM-DD. No definition available.
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This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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Condensed Consolidated Statements Of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | |
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Mar. 31, 2012
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Mar. 31, 2011
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Revenues: | ||
Royalties | $ 77,344 | $ 73,336 |
License and other | 10,000 | |
Total revenues | 77,344 | 83,336 |
Operating expenses: | ||
General and administrative | 6,945 | 5,779 |
Operating income | 70,399 | 77,557 |
Non-operating expense, net | ||
Interest and other income, net | 90 | 175 |
Interest expense | (8,700) | (9,154) |
Total non-operating expense, net | (8,610) | (8,979) |
Income before income taxes | 61,789 | 68,578 |
Income tax expense | 21,605 | 24,033 |
Net income | $ 40,184 | $ 44,545 |
Net income per share | ||
Basic (in Dollars per share) | $ 0.29 | $ 0.32 |
Diluted (in Dollars per share) | $ 0.29 | $ 0.25 |
Cash dividends declared per common share (in Dollars per share) | $ 0.60 | $ 0.60 |
Weighted average shares outstanding | ||
Basic (in Shares) | 139,680 | 139,640 |
Diluted (in Shares) | 140,204 | 189,954 |
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The net result for the period of deducting operating expenses from operating revenues. No definition available.
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Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Statements Of Comprehensive Income (Unaudited) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
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Mar. 31, 2012
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Mar. 31, 2011
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Net income | $ 40,184 | $ 44,545 |
Other comprehensive loss, net of tax | ||
Unrealized gains (losses) on investments in available-for-sale securities | 29 | (25) |
Unrealized losses on cash flow hedges | (6,677) | (7,784) |
Total other comprehensive loss, net of tax | (6,648) | (7,809) |
Comprehensive income | $ 33,536 | $ 36,736 |
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The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Legal settlement expense to be paid within one year of the date of the statement of financial position. No definition available.
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Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Convertible Notes Payable, excluding current portion. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date(s) more than one year from the balance sheet date. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value of the current portion of notes payable which were initially due after one year or beyond the normal operating cycle, if longer, and which are not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Condensed Consolidated Balance Sheets (Parentheticals) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
Mar. 31, 2012
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Dec. 31, 2011
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Preferred stock par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000 | 10,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 250,000 | 250,000 |
Common stock, shares issued | 139,680 | 139,680 |
Common stock, shares outstanding | 139,680 | 139,680 |
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net change during the reporting period in accrued legal settlement expense. No definition available.
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- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of deferred income taxes and income tax credits less the tax benefit from exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of a hedge deemed to be ineffective that is reflected in current period results of operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow to acquire an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among myriad other features and characteristics. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with maturities (principal being due), prepayments and calls (requests of early payments) on securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Note 1 - Summary of Significant Accounting Policies
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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Basis of Presentation and Significant Accounting Policies [Text Block] |
Basis
of Presentation
The
accompanying unaudited Condensed Consolidated Financial
Statements have been prepared in accordance with U.S.
generally accepted accounting principles (GAAP) for interim
financial information. The financial statements include all
adjustments (consisting only of normal recurring adjustments)
the management of PDL BioPharma, Inc. (the Company, PDL, we,
us or our) believes are necessary for a fair presentation of
the periods presented. These interim financial results are
not necessarily indicative of results expected for the full
fiscal year or for any subsequent interim period.
The
accompanying Condensed Consolidated Financial Statements and
related financial information should be read in conjunction
with the audited Consolidated Financial Statements and the
related notes thereto for the year ended December 31,
2011, included in our Annual Report on Form 10-K filed with
the U.S. Securities and Exchange Commission. The Condensed
Consolidated Balance Sheet at December 31, 2011, has
been derived from the audited Consolidated Financial
Statements at that date.
Principles
of Consolidation
The
Consolidated Financial Statements include the accounts of PDL
and its wholly-owned subsidiaries. All material intercompany
balances and transactions have been eliminated in
consolidation.
Customer
Concentration
The
percentage of total revenue earned from our licensees’
net product sales, which individually accounted for 10% or
more of our total revenues, were:
Foreign
Currency Hedging
We
hedge certain Euro-denominated currency exposures related to
our licensees’ product sales with Euro forward
contracts. In general, these contracts are intended to offset
the underlying Euro market risk in our royalty revenues. We
do not enter into speculative foreign currency transactions.
We have designated the Euro forward contracts as cash flow
hedges.
At
the inception of the hedging relationship and on a quarterly
basis, we assess hedge effectiveness. The fair value of the
Euro forward contracts is estimated using pricing models with
readily observable inputs from actively quoted markets and
are disclosed on a gross basis. The aggregate unrealized gain
or loss, net of tax, on the effective portion of the hedge is
recorded in stockholders’ deficit as accumulated other
comprehensive loss. Gains or losses on cash flow hedges are
recognized as royalty revenue in the same period that the
hedged transaction impacts earnings as royalty revenue. The
ineffective portion of the change in fair value of the hedge
is recognized in the period it occurs as interest and other
income, net. Ineffectiveness, if any, resulting from lower
than forecasted Euro based royalties is reclassified from
other comprehensive loss and charged against
earnings.
Comprehensive
Income
In
accordance with the Financial Accounting Standards Board
(FASB) accounting standard update (ASU) 2011-05, we have
presented the components of other comprehensive loss in the
Condensed Consolidated Statements of Comprehensive Income in
our first quarter of 2012. Also in accordance with this ASU,
we have applied this guidance retrospectively to all periods
presented. The adoption of the guidance was a change to the
presentation of other comprehensive income and had no effect
on our condensed consolidated financial statements. See Note
13 for our accumulated other comprehensive loss.
Recent
Accounting Pronouncements
In
December 2011, the FASB issued ASU 2011-11 that requires new
disclosures associated with offsetting financial instruments
and derivative instruments on the balance sheet that will
enable users to evaluate the effect on an entity’s
financial position. The ASU will be effective for our first
quarter of 2013, but is not expected to have a material
impact on our financial statements.
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X | ||||||||||
- Definition
The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity. No definition available.
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Note 2 - Net Income per Share
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Earnings Per Share [Text Block] |
2.
Net Income per Share
The
computation for net income per basic and diluted share
was:
We
compute net income per basic share using the weighted-average
number of shares of common stock outstanding during the
period less the weighted-average number of restricted stock
shares that are subject to repurchase.
We
compute net income per diluted share using the sum of the
weighted-average number of common and common equivalent
shares outstanding. Common equivalent shares used in the
computation of net income per diluted share include shares
that may be issued under our restricted stock awards, our
2.875% Convertible Senior Notes due February 15, 2015
(February 2015 Notes), our 2.875% Series 2012 Convertible
Notes due February 15, 2015 (Series 2012 Notes), our 3.75%
Senior Convertible Notes due May 1, 2015 (May 2015 Notes) and
in 2011, our 2.00% Convertible Senior Notes due
February 15, 2012 (2012 Notes), on a weighted average
basis for the period that the notes were outstanding,
including the effect of adding back interest expense, net of
tax, and the underlying shares using the if-converted method.
Our 2012 Notes were fully retired as of June 30, 2011, and
$179.0 million aggregate principal amount of our February
2015 Notes were exchanged for our Series 2012 Notes in the
first quarter of 2012.
The
weighted-average shares on our Series 2012 Notes include the
assumed shares on the premium of the average market price
over the conversion price as our Series 2012 Notes are net
share settled, with the principal amount settled in cash and
the excess settled in our common stock.
We
excluded 21.6 million shares of potential dilution for our
May 2015 Notes and 18.4 million shares of potential
dilution for our warrants because the conversion price and
exercise price exceeded the average market price of our
common stock. For the periods presented, no stock was
issuable upon conversion; therefore, the May 2015 Notes
have been excluded for purposes of computing net income per
diluted share. These securities could be dilutive in future
periods. In addition, we excluded (21.6) million shares for
our purchased call options because they will always
be anti-dilutive, therefore, will have no effect on
diluted net income per share.
For
further information related to our convertible notes, see
Note 9.
We
excluded 0.2 million and 0.3 million, of outstanding
stock options from our net income per diluted share
calculations for the three months ended March 31, 2012
and 2011, respectively, because their effect was
anti-dilutive.
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X | ||||||||||
- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 3 - Fair Value Measurements
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Fair Value Disclosures [Text Block] |
3. Fair Value
Measurements
The
fair value of our financial instruments are estimates of the
amounts that would be received if we were to sell an asset or
we paid to transfer a liability in an orderly transaction
between market participants at the measurement date or exit
price. The assets and liabilities are categorized and
disclosed in one of the following three categories:
Level
1 – based on quoted market prices in active markets for
identical assets and liabilities;
Level
2 – based on quoted market prices for similar assets
and liabilities, using observable market based inputs or
unobservable market based inputs corroborated by market data;
and
Level
3 – based on unobservable inputs using
management’s best estimate and assumptions when inputs
are unavailable. As
of March 31, 2012, and December 31, 2011, we had no Level 3
assets or liabilities.
The
following table summarizes assets and liabilities recorded at
fair value by classification category:
The
fair value of the foreign currency hedging contracts is
estimated based on pricing models using readily observable
inputs from actively quoted markets and are disclosed on a
gross basis.
Corporate
debt securities consist primarily of U.S. Corporate bonds.
The fair value of corporate debt securities is estimated
using recently executed transactions or market quoted prices,
where observable. Independent pricing sources are also used
for valuation.
The
fair value of commercial paper is estimated based on
observable inputs of the comparable securities.
The
following table summarizes assets and liabilities that are
not recorded at fair value by classification
category:
The
fair value of our note receivable was valued using
discounted cash flows incorporating expected payments and
the interest rate extended on the note. These inputs are
corroborated by market data that market participants use in
pricing similar receivables.
The
fair value of our convertible notes and our Non-recourse
Notes, as defined herein, was based on quoted market
pricing or dealer quotes of our notes then
outstanding.
We
do not estimate the fair value of our royalty assets for
financial statement reporting purposes.
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X | ||||||||||
- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 4 - Cash Equivalents, Short-term and Long-term Investments
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Mar. 31, 2012
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Cash, Cash Equivalents, and Marketable Securities [Text Block] |
4.
Cash Equivalents and Investments
As
of March 31, 2012, and December 31, 2011, we had
invested our excess cash balances primarily in money market
funds, corporate debt securities, commercial paper, U.S.
government sponsored agency bonds and U.S. treasury
securities. Our securities are classified as
available-for-sale and are carried at estimated fair value,
with unrealized gains and losses, net of estimated taxes,
reported in accumulated other comprehensive loss in
stockholders’ deficit. See Note 3 for fair value
measurement information. The cost of securities sold is based
on the specific identification method. To date, we have not
experienced credit losses on investments in these instruments
and we do not require collateral for our investment
activities.
A
summary of our available-for-sale securities at March 31,
2012, and December 31, 2011, is presented below:
We
did not recognize any gains or losses on sales of
available-for-sale securities for the three months ended
March 31, 2012 and 2011, respectively.
A
summary of our portfolio of available-for-sale debt
securities by contractual maturity at March 31, 2012, and
December 31, 2011, is presented below:
The
net unrealized gain on investments, included in other
comprehensive loss, net of tax, was approximately $58,000 as
of March 31, 2012. No significant facts or circumstances have
arisen to indicate that there has been any deterioration in
the creditworthiness of the issuers of these securities.
Based on our review of these securities, we believe we had no
other-than-temporary impairments on these securities as of
March 31, 2012, because our investments in a loss position at
March 31, 2012, were less than $1,000, net of tax.
|
X | ||||||||||
- Definition
The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). No definition available.
|
Note 5 - Foreign Currency Hedging
|
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Derivative Instruments and Hedging Activities Disclosure [Text Block] |
5.
Foreign Currency Hedging
In
January 2012, we modified our existing Euro forward and
option contracts related to our licensees’ sales
through December 2012 into Euro forward contracts with more
favorable rates. Additionally, we entered into a series of
Euro forward contracts covering the quarters in which our
licensees’ sales occur through December 2013.
The
foreign currency exchange contracts used to hedge royalty
revenues based on underlying Euro-denominated sales are
designated as cash flow hedges. Euro forward contracts are
presented on a net basis on our Condensed Consolidated
Balance Sheets as we have entered into a netting arrangement
with the counterparty.
The
notional amounts, Euro exchange rates, fair values of our
Euro forward contracts at March 31, 2012, and Euro forward
and option contracts at December 31, 2011, designated as cash
flow hedges were:
The
location and fair values of our Euro contracts in our
Condensed Consolidated Balance Sheets were:
The
effect of derivative instruments designated as cash flow
hedges in our Condensed Consolidated Statements of Income and
our Condensed Consolidated Statements of Comprehensive Income
were:
(1)
Net change in the fair value of the effective portion of cash
flow hedges classified in other comprehensive loss
(OCL)
(2)
Effective portion classified as royalty revenue
(3)
Ineffective portion classified as interest and other income,
net
For
the three months ended March 31, 2012, we recognized a loss
of approximately $55,000, net of tax, associated with the
ineffectiveness of the modified 2012 foreign exchange hedge.
There was no ineffectiveness related to forecasted
transactions for the three months ended March 31, 2012 and
2011. Approximately $1.9 million, net of tax, is expected to
be reclassified from other comprehensive loss against
earnings in the next 12 months.
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- Definition
The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 6 - Note Receivable
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3 Months Ended |
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Mar. 31, 2012
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Loans, Notes, Trade and Other Receivables Disclosure [Text Block] |
6.
Note Receivable
In
March 2012, the Company executed a $7.5 million two-year
senior secured note receivable. In addition to interest, the
note gives PDL certain rights to negotiate for certain
royalty assets. The note was recorded net of origination fees
that are accreted to the note receivable as interest income
using the interest method. The note bears interest at 10% per
annum, with interest due semi-annually and final interest due
at maturity together with the principal. The Company has not
assigned a risk grade to the receivable or recorded an
allowance for credit loss as PDL anticipates all payments
will be received in full when due. No impairment has
been recorded as the payments on the note are current. For
fair value information related to our note receivable, see
Note 3.
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- Definition
The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 7 - Accrued Liabilities
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Accounts Payable and Accrued Liabilities Disclosure [Text Block] |
7.
Accrued Liabilities
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- Definition
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 8 - Commitments and Contingencies
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3 Months Ended |
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Mar. 31, 2012
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Commitments and Contingencies Disclosure [Text Block] |
8.
Commitments and Contingencies
Legal
Proceedings
Communications
with Genentech regarding European SPCs
In
August 2010, we received a letter from Genentech, sent on
behalf of F. Hoffmann-LaRoche Ltd. (Roche) and Novartis
AG (Novartis), asserting that Avastin, Herceptin,
Lucentis and Xolair (the Genentech Products) do not
infringe the supplementary protection certificates (SPCs)
granted to PDL by various countries in Europe for each of
the Genentech Products and seeking a response from PDL to
these assertions. Genentech did not state what actions,
if any, it intends to take with respect to its
assertions. PDL’s SPCs were granted by the relevant
national patent offices in Europe and specifically cover
the Genentech Products. The SPCs covering the Genentech
Products effectively extend our European patent
protection for the ‘216B Patent generally until
December 2014, except that the SPCs for Herceptin will
generally expire in July 2014.
Genentech’s
letter does not suggest that the Genentech Products do
not infringe PDL’s U.S. patents to the extent that
such Genentech Products are made, used or sold in the
United States (U.S.-based Sales). Genentech’s
quarterly royalty payments received after receipt of the
letter included royalties generated on all worldwide
sales of the Genentech Products.
If
Genentech is successful in asserting this position, then
under the terms of our license agreements with Genentech, it
would not owe us royalties on sales of the Genentech Products
that are both manufactured and sold outside of the United
States. Royalties on sale of the Genentech Products that are
made and sold outside of the United States (ex-U.S.-based
Manufacturing and Sales) accounted for approximately 41% of
our royalty revenues for the quarter ended March 31,
2012. Based on announcements by Roche regarding moving more
manufacturing outside of the United States, we expect this
amount to increase in the future.
We
believe that the SPCs are enforceable against the Genentech
Products, that Genentech’s letter violates the terms of
the 2003 settlement agreement and that Genentech owes us
royalties on sales of the Genentech Products on a worldwide
basis. We intend to vigorously assert our SPC-based patent
rights.
Nevada
Litigation with Genentech, Roche and Novartis in Nevada State
Court
In
August 2010, we filed a complaint in the Second Judicial
District of Nevada, Washoe County, naming Genentech, Roche
and Novartis as defendants. We intend to enforce our rights
under our 2003 settlement agreement with Genentech and are
seeking an order from the court declaring that Genentech is
obligated to pay royalties to us on ex-U.S.-based
Manufacturing and Sales of the Genentech Products.
The
2003 settlement agreement was entered into as part of a
definitive agreement resolving intellectual property disputes
between the two companies at that time. The agreement limits
Genentech’s ability to challenge infringement of our
patent rights and waives Genentech’s right to challenge
the validity of our patent rights. Certain breaches of the
2003 settlement agreement as alleged by our complaint require
Genentech to pay us liquidated and other damages of
potentially greater than one billion dollars. This amount
includes a retroactive royalty rate of 3.75% on past
U.S.-based Sales of the Genentech Products and interest,
among other items. We may also be entitled to either
terminate our license agreements with Genentech or be paid a
flat royalty of 3.75% on future U.S.-based Sales of the
Genentech Products.
In
November 2010, Genentech and Roche filed a motion to dismiss
our complaint against them in which we seek to enforce our
rights under the 2003 settlement agreement with Genentech.
Genentech and Roche's motions to dismiss under Nevada Rule of
Civil Procedure 12(b)(5) alleged that all of our claims for
relief relating to the 2003 settlement agreement should be
dismissed because the 2003 settlement agreement applies only
to our U.S. patents. In addition, Roche filed a separate
motion to dismiss our complaint under Nevada Rule of Civil
Procedure 12(b)(2) on the ground that the Nevada court lacks
personal jurisdiction over Roche. On July 7, 2011, the Second
Judicial District Court of Nevada ruled in favor of us on the
two motions to dismiss filed by Genentech and Roche. The
court denied Genentech and Roche's motion to dismiss four of
our five claims for relief and, further, denied Roche's
separate motion to dismiss for lack of personal jurisdiction.
The court dismissed one of our claims that Genentech
committed a bad-faith breach of the covenant of good faith
and fair dealing stating that, based on the current state of
the pleadings, no "special relationship" had been established
between Genentech and us as required under Nevada law. On
November 1, 2011, the Nevada court issued an order accepting
Roche’s stipulation of waiver to its personal
jurisdiction defense. As a result of the order, Roche is
foreclosed from reliance on lack of personal jurisdiction in
defending against our claims.
On
February 25, 2011, we reached a settlement with Novartis
under which, among other things, we agreed to dismiss our
claims against Novartis in the action in Nevada state court
against Genentech, Roche and Novartis. Genentech and Roche
continue to be parties to the Nevada suit.
Lease
Guarantee
In
connection with the spin-off of Facet Biotech Corporation
(Facet) in 2008, we entered into amendments to the leases for
our former facilities in Redwood City, California, under
which Facet was added as a co-tenant under the leases, and a
Co-Tenancy Agreement, under which Facet agreed to indemnify
us for all matters related to the leases attributable to the
period after the spin-off date. Should Facet default under
its lease obligations, we would be held liable by the
landlord as a co-tenant and, thus, we have in substance
guaranteed the payments under the lease agreements for the
Redwood City facilities. As of March 31, 2012, the total
lease payments for the duration of the guarantee, which runs
through December 2021, are approximately $108.2 million. We
would also be responsible for lease-related costs including
utilities, property taxes and common area maintenance which
may be as much as the actual lease payments if Facet were to
default. In April 2010, Abbott Laboratories acquired
Facet and later renamed the company Abbott Biotherapeutics
Corp.
As
of March 31, 2012, and December 31, 2011, we had a
liability of $10.7 million on our Condensed Consolidated
Balance Sheets for the estimated fair value of this
guarantee. In future periods, we may increase the recorded
liability for this obligation if we conclude that a loss,
which is larger than the amount recorded, is both probable
and estimable.
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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 9 - Convertible Notes and Non-recourse Notes
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Long-term Debt [Text Block] |
9.
Convertible Notes and Non-recourse Notes
As
of March 31, 2012, PDL was in compliance with all applicable
debt covenants, and embedded features of all debt agreements
were evaluated and did not need to be accounted for
separately. For fair value information on our convertible
notes and Non-recourse Notes, see Note 3.
Series
2012 Notes
In
January 2012, we exchanged $169.0 million aggregate principal
of our February 2015 Notes for an identical principal amount
of new Series 2012 Notes, plus a cash payment of $5.00 for
each $1,000 principal amount tendered for a total cash
incentive payment of approximately $845,000. The cash
incentive payment was allocated to deferred issue costs of
$765,000, additional paid-in capital of $52,000 and deferred
tax assets of $28,000. The deferred issue costs will be
recognized over the life of the Series 2012 Notes as interest
expense. In February 2012, we entered into separate privately
negotiated exchange agreements under which we exchanged $10.0
million aggregate principal amount of our February 2015 Notes
for an identical principal amount of our Series 2012
Notes.
The
terms of the Series 2012 Notes are governed by the
indenture dated as of January 5, 2012 (Indenture) and
include a net share settlement feature, meaning that if a
conversion occurs, the principal amount will be settled in
cash and the excess, if any, will be settled in the
Company’s common stock. The Series 2012 Notes may not
be redeemed by the Company prior to their stated maturity
date. Our Series 2012 Notes are due February 15, 2015 and
bear interest at a rate of 2.875% per annum, payable
semiannually in arrears on February 15 and August 15 of
each year. This is the same interest rate that we paid on
the February 2015 Notes.
The
initial conversion rate of the Series 2012 Notes was 155.396
shares of common stock per $1,000 principal amount, or
approximately $6.44 per common share, subject to further
adjustment upon certain events including dividend payments.
Third party transaction costs of approximately $813,000
related to the exchange transactions have been recognized
within general and administrative expense, of which $216,000
was recognized in the first quarter of 2012 and $597,000 was
recognized during the year ended December 31, 2011.
Holders
may convert their Series 2012 Notes at any time prior to the
close of business on the second scheduled trading day
immediately preceding the stated maturity date of the Series
2012 Notes under the following circumstances:
Holders
of our Series 2012 Notes who convert their Series 2012 Notes
in connection with a fundamental change may be entitled to a
make-whole premium in the form of an increase in the
conversion rate.
We
allocated $2.3 million of the remaining deferred February
2015 Notes original issue discount as of the date of the
exchange to the Series 2012 Notes based on the percentage
of the February 2015 Notes exchanged. In accordance with
the accounting guidance for convertible debt instruments
that may be settled in cash or other assets on conversion,
we were required to separately account for the liability
component of the instrument in a manner that reflects the
market interest rate for a similar nonconvertible
instrument at the date of issuance. As a result, we
separated the principal balance of the Series 2012 Notes,
net of the allocated original issue discount, between the
fair value of the debt component and the common stock
conversion feature. Using an assumed borrowing rate of
7.3%, which represents the estimated market interest rate
for a similar nonconvertible instrument available to us
during the period of the exchange transactions, we recorded
a total debt discount of $16.8 million, allocated $10.9
million to additional paid-in capital and $5.9 million to
deferred tax liability. The discount is being amortized to
interest expense over the term of the Series 2012 Notes and
increases interest expense during the term of the Series
2012 Notes from the 2.875% cash coupon interest rate to an
effective interest rate of 7.3%. The common stock
conversion feature is recorded as a component of
stockholders’ deficit.
The
principal amount, carrying value and unamortized discount
of our Series 2012 Notes were:
Interest
expense for our Series 2012 Notes on the Condensed
Consolidated Statements of Income was:
As
of March 31, 2012, our Series 2012 Notes are convertible into
159.098 shares of the Company’s common stock per $1,000
of principal amount, or approximately $6.29 per common share,
subject to further adjustment upon certain events including
dividend payments. As of March 31, 2012, the remaining
discount amortization period was 2.9 years.
For
the quarter ended December 31, 2011, our common stock price
did not exceed the conversion threshold price of $8.37 per
common share for at least 20 days during the 30 consecutive
trading days ended December 31, 2011. Accordingly the Series
2012 Notes were not convertible at the option of the holder
during the quarter ended March 31, 2012. For the quarter
ended March 31, 2012, our common stock did not exceed the
conversion threshold price of $8.17 for at least 20 days
during 30 consecutive trading days ended March 31, 2012.
Accordingly the Series 2012 Notes are not convertible at the
option of the holder during the quarter ended June 30, 2012.
At March 31, 2012, the if-converted value of our Series 2012
Notes exceeded their principal amount by approximately $2.1
million.
May
2015 Notes
Our
May 2015 Notes are convertible into 139.2165 shares of the
Company’s common stock per $1,000 of principal amount,
or approximately $7.18 per common share, subject to further
adjustment upon certain events including dividend payments.
If a conversion occurs, to the extent that the conversion
value exceeds the principal amount, the principal amount is
due in cash and the difference between the conversion value
and the principal amount is due in shares of the
Company’s common stock. As of March 31, 2012, the
remaining discount amortization period was 3.1 years.
The
principal amount, carrying value and unamortized discount of
our May 2015 Notes were:
Interest
expense for our May 2015 Notes on the Condensed Consolidated
Statements of Income was:
As
of March 31, 2012, the market price condition for
convertibility of our May 2015 Notes was not met and there
were no related purchased call options or warrants
exercised.
Purchased
Call Options
The
purchased call options cover, subject to anti-dilution and
certain other customary adjustments substantially similar to
those in our May 2015 Notes, approximately 21.6 million
shares of our common stock at a strike price of approximately
$7.18, which corresponds to the conversion price of our May
2015 Notes. We may exercise the purchased call options upon
conversion of our May 2015 Notes and require the hedge
counterparty to deliver shares to the Company in an amount
equal to the shares required to be delivered by the Company
to the note holder for the excess conversion value.
Warrants
At
March 31, 2012, the outstanding warrants of up to 27.5
million shares of common stock underlying our May 2015 Notes,
have a current strike price of approximately $8.45 per share,
subject to additional anti-dilution and certain other
customary adjustments.
February
2015 Notes
As
of March 31, 2012, our February 2015 Notes aggregate
principal amount outstanding was $1.0 million after the
completion of our exchange transactions for new Series 2012
Notes. As of March 31, 2012, the remaining unamortized
issuance costs of $16,000 and the unamortized discount of
$12,000 are being amortized to interest expense over the term
of our February 2015 Notes, with a remaining amortization
period of approximately 2.9 years. As of March 31, 2012,
our February 2015 Notes were convertible into 159.098 shares
of common stock per $1,000 principal amount or approximately
$6.29 per common share.
Non-recourse
Notes
As
of March 31, 2012, the remaining principal balance was $69.5
million and the remaining unamortized issuance costs of
$0.6 million, were included as a component of Prepaid
and other current assets on the Condensed Consolidated
Balance Sheets. These issuance costs are being amortized to
interest expense using the effective interest method with
approximately 0.5 years remaining.
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X | ||||||||||
- Definition
The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 10 - Stock-Based Compensation
|
3 Months Ended |
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Mar. 31, 2012
|
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Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
10.
Stock-Based Compensation
Stock-based
compensation expense for directors and employees for the
three months ended March 31, 2012 and 2011, was $150,500 and
$49,900, respectively. For the three months ended March 31,
2011, there was only stock-based compensation for directors.
Additionally, we recorded stock-based award expense for
outside consultants of $53,900 for the three months ended
March 31, 2012.
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- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 11 - Cash Dividends
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Stockholders' Equity Note Disclosure [Text Block] |
11.
Cash Dividends
On
January 18, 2012, our board of directors declared that
the regular quarterly dividends to be paid to our
stockholders in 2012 will be $0.15 per share of
common stock, payable on March 14,
June 14, September 14 and December 14 of
2012 to stockholders of record on March 7,
June 7, September 7 and December 7 of 2012,
the record dates for each of the dividend payments,
respectively.
In
connection with the March 14, 2012, dividend payment, the
conversion rates for our convertible notes increased as
follows:
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- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 12 - Income Taxes
|
3 Months Ended |
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Mar. 31, 2012
|
|
Income Tax Disclosure [Text Block] |
12.
Income Taxes
Income
tax expense was $21.6 million and $24.0 million for the three
months ended March 31, 2012 and 2011, respectively, and was
primarily derived by applying the federal statutory rate of
35% to operating income before income taxes.
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- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 13 - Accumulated Comprehensive Loss
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Comprehensive Income (Loss) Note [Text Block] |
13.
Accumulated Other Comprehensive Loss
Comprehensive
income is comprised of net income and other
comprehensive loss. We include unrealized net gains on
investments held in our available-for-sale securities and
unrealized losses on our cash flow hedges in other
comprehensive loss, and present the amounts net of tax. Our
other comprehensive loss is included in our Condensed
Consolidated Statements of Comprehensive Income.
The
balance of accumulated other comprehensive loss, net of tax,
was as follows:
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- Definition
The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accounting Policies, by Policy (Policies)
|
3 Months Ended |
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Mar. 31, 2012
|
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Basis of Accounting [Text Block] | Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. The financial statements include all adjustments (consisting only of normal recurring adjustments) the management of PDL BioPharma, Inc. (the Company, PDL, we, us or our) believes are necessary for a fair presentation of the periods presented. These interim financial results are not necessarily indicative of results expected for the full fiscal year or for any subsequent interim period. The accompanying Condensed Consolidated Financial Statements and related financial information should be read in conjunction with the audited Consolidated Financial Statements and the related notes thereto for the year ended December31, 2011, included in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission. The Condensed Consolidated Balance Sheet at December31, 2011, has been derived from the audited Consolidated Financial Statements at that date. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The Consolidated Financial Statements include the accounts of PDL and its wholly-owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Hedging We hedge certain Euro-denominated currency exposures related to our licensees' product sales with Euro forward contracts. In general, these contracts are intended to offset the underlying Euro market risk in our royalty revenues. We do not enter into speculative foreign currency transactions. We have designated the Euro forward contracts as cash flow hedges. At the inception of the hedging relationship and on a quarterly basis, we assess hedge effectiveness. The fair value of the Euro forward contracts is estimated using pricing models with readily observable inputs from actively quoted markets and are disclosed on a gross basis. The aggregate unrealized gain or loss, net of tax, on the effective portion of the hedge is recorded in stockholders' deficit as accumulated other comprehensive loss. Gains or losses on cash flow hedges are recognized as royalty revenue in the same period that the hedged transaction impacts earnings as royalty revenue. The ineffective portion of the change in fair value of the hedge is recognized in the period it occurs as interest and other income, net. Ineffectiveness, if any, resulting from lower than forecasted Euro based royalties is reclassified from other comprehensive loss and charged against earnings. |
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- Definition
The entire disclosure for the basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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X | ||||||||||
- Definition
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. No definition available.
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Note 2 - Net Income per Share (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] |
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- Definition
Tabular disclosure of the numerators and the denominators of the basic and diluted per-share (or per-unit) computations for income from continuing operations, including the effect that has been given to preferred dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 3 - Fair Value Measurements (Tables)
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Mar. 31, 2012
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Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
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Schedule of Liabilities Not Recorded At Fair Value [Table Text Block] |
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- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 4 - Cash Equivalents, Short-term and Long-term Investments (Tables)
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Mar. 31, 2012
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Schedule of Available-for-sale Securities Reconciliation [Table Text Block] |
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Fair Value, by Balance Sheet Grouping [Table Text Block] |
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Investments Classified by Contractual Maturity Date [Table Text Block] |
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X | ||||||||||
- Definition
Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. No definition available.
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Note 5 - Foreign Currency Hedging (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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Schedule of Derivative Instruments [Table Text Block] |
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Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
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Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] |
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X | ||||||||||
- Definition
Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 7 - Accrued Liabilities (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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Schedule of Accrued Liabilities [Table Text Block] |
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X | ||||||||||
- Definition
Tabular disclosure of the components of accrued liabilities. No definition available.
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Note 9 - Convertible Notes and Non-recourse Notes (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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Schedule of Debt [Table Text Block] |
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Series 2012 Notes [Table Text Block] |
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Schedule Of Interest Expense On Series 2012 Notes [Table Text Block] |
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X | ||||||||||
- Definition
Tabular disclosure of notes including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of notes including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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Note 11 - Cash Dividends (Tables)
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3 Months Ended | ||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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Schedule of Conversion Rates for Convertible Notes [Table Text Block] |
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Note 13 - Accumulated Comprehensive Loss (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
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X | ||||||||||
- Definition
Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Note 1 - Summary of Significant Accounting Policies (Detail)
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Mar. 31, 2012
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Minimum threshold percent of total royalty income requiring disclosure by licensee by product name (in hundredths) | 10.00% |
X | ||||||||||
- Definition
Minimum threshold percent of total royalty income requiring disclosure by licensee by product name. No definition available.
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Note 1 - Summary of Significant Accounting Policies (Detail) - Percentage of Total Revenue From Licenses Over 10% of Revenue
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3 Months Ended | |
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Mar. 31, 2012
|
Mar. 31, 2011
|
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Genentech [Member] | Avastin [Member]
|
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Licensee | 30.00% | 27.00% |
Genentech [Member] | Herceptin [Member]
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Licensee | 33.00% | 30.00% |
Genentech [Member] | Lucentis [Member]
|
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Licensee | 14.00% | 11.00% |
Elan [Member] | Tysabri [Member]
|
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Licensee | 15.00% | 12.00% |
X | ||||||||||
- Definition
Percentage of revenue generated from a single external customer that accounts for 10 percent or more of an entity's revenues. No definition available.
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Note 2 - Net Income per Share (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
---|---|---|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Series 2012 Notes [Member]
|
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Convertible Notes Payable (in Dollars) | $ 179.0 | |
Convertible May 2015 Notes [Member]
|
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Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 21.6 | |
Warrant [Member]
|
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Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 18.4 | |
Purchased Call Options [Member]
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Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | (21.6) | |
Stock Options [Member]
|
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Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0.2 | 0.3 |
Due February 2015 [Member]
|
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Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Series 2012 Notes [Member]
|
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Debt Instrument, Interest Rate, Stated Percentage | 2.875% | |
Convertible May 2015 Notes [Member]
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Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |
Due 2012 [Member]
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Debt Instrument, Interest Rate, Stated Percentage | 2.00% |
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or more securities (typically common stock), at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 2 - Net Income per Share (Detail) - Net Income Per Basic and Diluted Share (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
---|---|---|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
Net income (in Dollars) | $ 40,184 | $ 44,545 |
Add back interest expense for convertible notes, net of estimated tax of $15,000 and $686,000 for the three months ended March 31, 2012 and 2011, respectively (see Note 9) (in Dollars) | 27 | 1,275 |
Income used to compute net income per diluted share (in Dollars) | $ 40,211 | $ 45,820 |
Total weighted-average shares used to compute net income per basic share | 139,680 | 139,640 |
Weighted-average shares used to compute net income per diluted share | 140,204 | 189,954 |
Restricted Stock [Member]
|
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Restricted stock outstanding | 68 | 27 |
Effect of dilutive stock options | 68 | 27 |
Stock Options [Member]
|
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Restricted stock outstanding | 15 | |
Effect of dilutive stock options | 15 | |
Series 2012 Notes [Member]
|
||
Assumed conversion of debt | 315 | |
Due 2012 [Member]
|
||
Assumed conversion of debt | 19,282 | |
Due February 2015 [Member]
|
||
Assumed conversion of debt | 126 | 26,005 |
Weighted-average shares used to compute net income per diluted share | 140,204 | 184,954 |
X | ||||||||||
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of convertible debt securities using the if-converted method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The after-tax amount of interest recognized in the period associated with any convertible debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 3 - Fair Value Measurements (Detail) - Assets and Liabilities Recorded at Fair Value (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Assets: | ||
Available for Sale Securities at Fair Value | $ 186,128 | $ 224,769 |
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
|
||
Assets: | ||
Foreign currency hedge contracts | 13,300 | 9,783 |
Derivative Financial Instruments, Liabilities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
|
||
Assets: | ||
Foreign currency hedge contracts | 13,300 | 9,783 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 131,984 | 163,368 |
Money Market Funds [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 131,984 | 163,368 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 37,629 | 44,877 |
Corporate Debt Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 37,629 | 44,877 |
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 8,997 | 8,996 |
Commercial Paper [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 8,997 | 8,996 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 2,011 | 2,015 |
US Government Agencies Debt Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 2,011 | 2,015 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 5,507 | 5,513 |
US Treasury Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
|
||
Assets: | ||
Available for Sale Securities at Fair Value | 5,507 | 5,513 |
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member]
|
||
Assets: | ||
Foreign currency hedge contracts | 6,838 | |
Derivative Financial Instruments, Assets [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
|
||
Assets: | ||
Foreign currency hedge contracts | 6,838 | |
Fair Value, Inputs, Level 1 [Member]
|
||
Assets: | ||
Total | 139,502 | 170,896 |
Fair Value, Inputs, Level 2 [Member]
|
||
Assets: | ||
Total | 46,626 | 60,711 |
Estimate of Fair Value, Fair Value Disclosure [Member]
|
||
Assets: | ||
Total | $ 186,128 | $ 231,607 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents contracts related to the exchange of different currencies, including foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into and existing as of the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents contracts related to the exchange of different currencies, including foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into and existing as of the balance sheet date. No definition available.
|
Note 3 - Fair Value Measurements (Detail) - Assets and Liabilities Not Recorded at Fair Value (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Assets: | ||
Note receivable | $ 7,426 | |
Note receivable | 7,428 | 0 |
Liabilities: | ||
Carrying Value | 371,772 | 409,985 |
Fair Value | 432,827 | 442,835 |
Series 2012 Notes [Member]
|
||
Liabilities: | ||
Carrying Value | 161,211 | |
Fair Value | 199,138 | |
Convertible May 2015 Notes [Member]
|
||
Liabilities: | ||
Carrying Value | 140,042 | 138,952 |
Fair Value | 161,654 | 156,123 |
Convertible February 2015 Notes [Member]
|
||
Liabilities: | ||
Carrying Value | 988 | 177,663 |
Fair Value | 1,113 | 191,475 |
Non-Recourse Notes [Member]
|
||
Liabilities: | ||
Carrying Value | 69,531 | 93,370 |
Fair Value | $ 70,922 | $ 95,237 |
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
X | ||||||||||
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date(s) more than one year from the balance sheet date. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. An amount representing an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money at a future date(s). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 4 - Cash Equivalents, Short-term and Long-term Investments (Detail) (USD $)
|
3 Months Ended | ||
---|---|---|---|
Mar. 31, 2012
|
Dec. 31, 2011
|
Mar. 31, 2012
Maximum [Member]
|
|
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | $ 58,000 | $ 29,000 | |
Unrealized Loss on Securities | $ 1,000 |
X | ||||||||||
- Definition
Accumulated appreciation or loss, net of tax, in value of the total of available-for-sale securities at the end of an accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease), resulting in a loss, in the difference between the fair value and the carrying value, or in the comparative fair values, of securities held at each balance sheet date, that was included in earnings for the period. No definition available.
|
Note 4 - Cash Equivalents, Short-term and Long-term Investments (Detail) - Available-for-Sale Debt Securities (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Amortized Cost | $ 186,039 | $ 224,725 |
Gross Unrealized Gains | 90 | 88 |
Gross Unrealized Losses | (1) | (44) |
Estimated Fair Value | 186,128 | 224,769 |
Money Market Funds [Member]
|
||
Amortized Cost | 131,984 | 163,368 |
Estimated Fair Value | 131,984 | 163,368 |
Corporate Debt Securities [Member]
|
||
Amortized Cost | 37,560 | 44,863 |
Gross Unrealized Gains | 70 | 57 |
Gross Unrealized Losses | (1) | (43) |
Estimated Fair Value | 37,629 | 44,877 |
Commercial Paper [Member]
|
||
Amortized Cost | 8,997 | 8,997 |
Gross Unrealized Losses | (1) | |
Estimated Fair Value | 8,997 | 8,996 |
US Government Agencies Debt Securities [Member]
|
||
Amortized Cost | 2,002 | 2,003 |
Gross Unrealized Gains | 9 | 12 |
Estimated Fair Value | 2,011 | 2,015 |
US Treasury Securities [Member]
|
||
Amortized Cost | 5,496 | 5,494 |
Gross Unrealized Gains | 11 | 19 |
Estimated Fair Value | $ 5,507 | $ 5,513 |
X | ||||||||||
- Definition
This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the gross unrealized gains for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the gross unrealized losses for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
Note 4 - Cash Equivalents, Short-term and Long-term Investments (Detail) - Available-For-Sale Securities Balance Sheet Classification (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Cash equivalents | $ 134,984 | $ 165,367 |
Short-term investments | 46,010 | 42,301 |
Long-term investments | 5,134 | 17,101 |
Total | $ 186,128 | $ 224,769 |
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Company may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 4 - Cash Equivalents, Short-term and Long-term Investments (Detail) - Summary of Available-For-Sale Securities (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Less than one year | $ 48,922 | $ 44,262 |
Less than one year | 49,010 | 44,300 |
Greater than one year but less than five years | 5,133 | 17,095 |
Greater than one year but less than five years | 5,134 | 17,101 |
Total | 54,055 | 61,357 |
Total | $ 54,144 | $ 61,401 |
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at fair value maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, which include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at cost, net of adjustments, maturing in the next fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings (less any cumulative-effect adjustments, as defined) and fair value hedge accounting adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of available-for-sale debt securities at fair value maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 5 - Foreign Currency Hedging (Detail) (Net of Tax [Member], USD $)
|
3 Months Ended |
---|---|
Mar. 31, 2012
|
|
Net of Tax [Member]
|
|
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness | $ (55,000) |
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | $ (1,900,000) |
X | ||||||||||
- Definition
The estimated net amount of unrealized gains or losses on foreign currency cash flow hedges at the reporting date expected to be reclassified to earnings within the next 12 months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net gain (loss) during the reporting period due to ineffectiveness in interest rate cash flow hedges. Recognized in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 5 - Foreign Currency Hedging (Detail) - Schedule of Foreign Currency Exchange Contracts Designated as Cash Flow Hedges (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Eurodollar Sell Forward Contract 1.400 [Member] | Foreign Exchange Forward [Member]
|
||
Settlement Price ($ per Eurodollar) | 1.400 | |
Notional Amount | $ 25,150 | |
Fair Value | 1,837 | |
Notional Amount | 25,150 | |
Fair Value | 1,837 | |
Eurodollar Sell Forward Contract 1.200 [Member] | Foreign Exchange Forward [Member]
|
||
Settlement Price ($ per Eurodollar) | 1.200 | |
Notional Amount | 117,941 | |
Fair Value | (9,783) | |
Notional Amount | 117,941 | |
Fair Value | (9,783) | |
Eurodollar Sell Foward Contract 1.230 [Member] | Foreign Exchange Forward [Member]
|
||
Settlement Price ($ per Eurodollar) | 1.230 | |
Notional Amount | 120,889 | |
Fair Value | (9,915) | |
Notional Amount | 120,889 | |
Fair Value | (9,915) | |
Eurodollar Sell Foward Contract 1.300 [Member] | Foreign Exchange Forward [Member]
|
||
Settlement Price ($ per Eurodollar) | 1.300 | |
Notional Amount | 128,700 | |
Fair Value | (3,385) | |
Notional Amount | 128,700 | |
Fair Value | (3,385) | |
Eurodollar Purchased Call Option 1.510 [Member] | Foreign Exchange Option [Member]
|
||
Notional Amount | 27,126 | |
Strike Price ($ per Eurodollar) (in Dollars per Item) | 1.510 | |
Notional Amount | 27,126 | |
Eurodollar Purchased Call Option 1.315 [Member] | Foreign Exchange Option [Member]
|
||
Notional Amount | 129,244 | |
Fair Value | 5,001 | |
Strike Price ($ per Eurodollar) (in Dollars per Item) | 1.315 | |
Notional Amount | 129,244 | |
Fair Value | 5,001 | |
Foreign Exchange Forward [Member]
|
||
Notional Amount | 249,589 | 143,091 |
Fair Value | (13,300) | (7,946) |
Notional Amount | 249,589 | 143,091 |
Fair Value | (13,300) | (7,946) |
Foreign Exchange Option [Member]
|
||
Notional Amount | 156,370 | |
Fair Value | 5,001 | |
Notional Amount | 156,370 | |
Fair Value | $ 5,001 |
X | ||||||||||
- Definition
The strike price on the foreign currency option contract such as a put option or a call option. No definition available.
|
X | ||||||||||
- Definition
Contractual rate at which a foreign currency can be purchased or sold. No definition available.
|
X | ||||||||||
- Definition
Fair value as of the balance sheet date of all foreign currency derivatives designated as cash flow hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate notional amount of all foreign currency derivatives designated as hedging instruments in cash flow hedges. Notional amount refers to the number of currency units specified in the foreign currency derivative contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 5 - Foreign Currency Hedging (Detail) - Fair Value of Foreign Currency Exchange Contracts on Condensed Consolidated Balance Sheet (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Prepaid And Other Current Assets [Member]
|
||
Euro contracts | $ 1,837 | |
Accrued Liabilities [Member]
|
||
Euro contracts | 9,915 | 4,134 |
Other Long-Term Liabilities [Member]
|
||
Euro contracts | $ 3,385 | $ 648 |
X | ||||||||||
- Definition
Fair value as of the balance sheet date of all foreign currency derivative assets designated as cash flow hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value as of the balance sheet date of all foreign currency derivative liabilities designated as cash flow hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 5 - Foreign Currency Hedging (Detail) - Derivative Instruments Designated as Cash Flow Hedges Effect on Other Comprehensive Income (Loss) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2012
|
Mar. 31, 2011
|
|||||||||
Net loss recognized in OCL, net of tax (1) | $ 5,482 | [1] | $ 6,980 | [1] | ||||||
Gain reclassified from accumulated OCL into royalty revenue, net of tax (2) | 1,195 | [2] | 804 | [2] | ||||||
Net loss recognized in interest and other income, net (3) | 84 | [3] | [3] | |||||||
Amount excluded from effectiveness testing | $ 0 | $ 0 | ||||||||
|
X | ||||||||||
- Definition
The effective portion of net gain (loss) reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments representing (a) the amount of the hedge ineffectiveness and (b) the amount, if any, excluded from the assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 6 - Note Receivable (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 31, 2012
|
---|---|
Financing Receivable, Gross (in Dollars) | $ 7.5 |
Interest Rate on Note Receivable | 10.00% |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. Excludes amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 7 - Accrued Liabilities (Detail) - Accrued Liabilities (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Compensation | $ 1,027 | $ 1,341 |
Interest payable | 3,404 | 3,351 |
Deferred revenue | 1,713 | |
Dividend payable | 63,029 | 52 |
Other | 2,264 | 1,018 |
Total | 79,639 | 11,609 |
Accrued Liabilities [Member]
|
||
Foreign currency hedge | $ 9,915 | $ 4,134 |
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value as of the balance sheet date of all foreign currency derivative liabilities designated as cash flow hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 8 - Commitments and Contingencies (Detail) (USD $)
|
3 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2012
|
Nov. 30, 2010
|
Mar. 31, 2012
Europe [Member]
|
Mar. 31, 2012
Past U.S. Based Sales [Member]
|
Mar. 31, 2012
Future U.S. Based Sales [Member]
|
|
RoyaltyRevenueGeographicConcentration | 41.00% | ||||
Gain Contingency, Unrecorded Amount (in Dollars) | $ 1,000,000,000 | ||||
Royalty Rate | 3.75% | 3.75% | |||
Number of Genentech's Claims Dismissed by Court | 2 | ||||
Number of PDL's Claims Upheld by Court | 4 | ||||
Number of PDL's claims for relief relating to the 2003 settlement agreement | 5 | ||||
Number of PDL's claims dismissed by the court | 1 | ||||
Operating Leases, Future Minimum Payments Due (in Dollars) | 108,200,000 | ||||
Loss Contingency, Estimate of Possible Loss (in Dollars) | $ 10,700,000 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Number of PDL's claims dismissed by the court No definition available.
|
X | ||||||||||
- Definition
Number of PDL's claims for relief relating to the 2003 settlement agreement. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Retroactive royalty rate on past US-based Sales of the Genentech Products and interest, among other items. No definition available.
|
X | ||||||||||
- Definition
Revenues derived from sales of products that were made in US and foreign geographies. No definition available.
|
X | ||||||||||
- Definition
The amount or range of possible amounts of gain that could be realized upon the resolution of a contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Reflects the estimated amount of loss from the specified contingency as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 9 - Convertible Notes and Non-recourse Notes (Detail) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | 15 Months Ended | |
---|---|---|---|---|
Mar. 31, 2012
|
Dec. 31, 2011
|
Mar. 31, 2012
|
Jan. 31, 2012
|
|
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | 2.875% | ||
Debt Instrument, Convertible, Terms of Conversion Feature | During any fiscal quarter commencing after the fiscal quarter ending December 31, 2011, if the closing price of the Company's common stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter exceeds 130% of the conversion price for the Series 2012 Notes on the last day of such preceding fiscal quarter; During the five business-day period immediately after any five consecutive trading-day period in which the trading price per $1,000 principal amount of the Series 2012 Notes for each trading day of that measurement period was less than 98% of the product of the closing price of the Company's common stock and the conversion rate for the Series 2012 Notes for that trading day; Upon the occurrence of certain corporate transactions as provided in the Indenture; or Anytime, at the holder's option, beginning on August 15, 2014. | |||
Option Indexed to Issuer's Equity, Shares (in Shares) | 21.6 | |||
Option Indexed to Issuer's Equity, Strike Price (in Dollars per Item) | 7.18 | |||
Series 2012 Notes [Member] | Initial [Member]
|
||||
Debt Instrument, Convertible, Conversion Ratio | 155.3960 | |||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 6.44 | $ 6.44 | ||
Series 2012 Notes [Member] | Minimum [Member]
|
||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 8.17 | $ 8.37 | $ 8.17 | |
Series 2012 Notes [Member]
|
||||
Convertible Debt | $ 169,000,000 | |||
Induced Conversion of Convertible Debt Expense | 845,000 | |||
Deferred Costs, Noncurrent | 765,000 | 765,000 | ||
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | 52,000 | |||
Noted Obligation Allocated To Deferred Tax Asset | 28,000 | 28,000 | ||
Debt Instrument, Convertible, Conversion Ratio | 159.0980 | |||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 6.29 | $ 6.29 | ||
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction | 216,000 | 597,000 | 813,000 | |
Debt Instrument, Unamortized Discount | 17,789,000 | 17,789,000 | ||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 2 years 11 months | |||
Debt Instrument, Fair Value Disclosure | 2,100,000 | 2,100,000 | ||
Convertible February 2015 Notes [Member] | February 2015 Notes Exchanged For Series 2012 Notes [Member]
|
||||
Debt Instrument, Unamortized Discount | 2,300,000 | 2,300,000 | ||
Convertible February 2015 Notes [Member]
|
||||
Convertible Debt | 1,000,000 | 1,000,000 | ||
Incentive Fee Per Thousand to Convert Debt | 5.00 | |||
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | 10,900,000 | |||
Debt Conversion, Converted Instrument, Amount | 10,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.875% | 2.875% | ||
Debt Instrument, Convertible, Conversion Ratio | 159.0980 | |||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 6.29 | $ 6.29 | ||
Debt Instrument, Unamortized Discount | 12,000 | 12,000 | ||
Debt Instrument, Convertible, Effective Interest Rate | 7.30% | |||
Noted obligation allocated to deferred tax liability | 5,900,000 | |||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 2 years 9 months | |||
Unamortized Debt Issuance Expense | 16,000 | 16,000 | ||
February 2015 Notes Exchanged For Series 2012 Notes [Member]
|
||||
Debt Instrument, Unamortized Discount | 16,800,000 | 16,800,000 | ||
Convertible May 2015 Notes [Member]
|
||||
Debt Instrument, Convertible, Conversion Ratio | 139.2165 | |||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 7.18 | $ 7.18 | ||
Debt Instrument, Unamortized Discount | 15,208,000 | 16,298,000 | 15,208,000 | |
Debt Instrument, Convertible, Remaining Discount Amortization Period | 3 years 1 month | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 27.5 | 27.5 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | 8.45 | 8.45 | ||
Non-Recourse Notes [Member]
|
||||
Convertible Debt | 69,500,000 | 69,500,000 | ||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 6 months | |||
Unamortized Debt Issuance Expense | $ 600,000 | $ 600,000 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Adjustment to deferred tax asset resulting from the recognition of convertible debt instruments as two separate components - a debt component and an equity component. No definition available.
|
X | ||||||||||
- Definition
Adjustment to deferred tax liability resulting from the recognition of convertible debt instruments as two separate components - a debt component and an equity component. No definition available.
|
X | ||||||||||
- Definition
Adjustment to additional paid in capital resulting from the recognition of convertible debt instruments as two separate components - a debt component and an equity component. This bifurcation may result in a basis difference associated with the liability component that represents a temporary difference for purposes of applying accounting for income taxes. The initial recognition of deferred taxes for the tax effect of that temporary difference is as an adjustment to additional paid in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The exercise price of each class of warrants or rights outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The specified number of securities that each class of warrants or rights outstanding give the holder the right but not the obligation to purchase from the issuer at a specific price, on or before a certain date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The ratio applied to the debt for purposes of determining the number of shares of the equity security into which the debt will be converted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effective interest rate on the liability component of convertible debt instrument which may be settled in cash upon conversion, including partial cash settlement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Remaining amortization period for discount on the liability component of convertible debt which may be settled in cash upon conversion, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Description of the conversion terms of a debt instrument which may include the conversion ratio (including all potential conversion ratios if contingently adjustable), type of debt or equity security into which the debt is convertible, the dollars of debt or the number of shares into which the instrument is convertible (or potentially convertible into), the conversion period, any contingencies associated with the conversion terms, and the existence and amount of a beneficial conversion feature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt issuance costs that were incurred during a noncash or partial noncash transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against earnings in periods after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Consideration given by issuer of convertible debt to provide an incentive for debt holders to convert the debt to equity securities. The expense is equal to the fair value of all securities and other consideration transferred in the transaction in excess of the fair value of securities issuable pursuant to the original conversion terms. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The maximum number of shares that could be issued to net share settle a contract, if applicable. If a contract does not have a fixed or determinable maximum number of shares that may be required to be issued, disclose the fact that a potentially infinite number of shares could be issued to settle the contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The exercise (or strike) price stated in the contract. The fixed price at which the option holder can purchase, in the case of a call option, or sell, in the case of a put option, on the underlying security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The remaining balance of debt issuance expenses that were capitalized and are being amortized against income over the lives of the respective bond issues. This does not include the amounts capitalized as part of the cost of the utility plant or asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 9 - Convertible Notes and Non-recourse Notes (Detail) - Convertible and Non-recourse Notes Activity (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
---|---|---|
Mar. 31, 2012
|
Dec. 31, 2011
|
|
Carrying Value | $ 371,772 | $ 409,985 |
Convertible May 2015 Notes [Member]
|
||
Maturity Date | May 01, 2015 | |
Principal Balance Oustanding March 31, 2012 | 155,250 | 155,250 |
Carrying Value | 140,042 | 138,952 |
Series 2012 Notes [Member]
|
||
Maturity Date | Feb. 15, 2015 | |
Principal Balance Oustanding March 31, 2012 | 179,000 | |
Carrying Value | 161,211 | |
Convertible February 2015 Notes [Member]
|
||
Maturity Date | Feb. 15, 2015 | |
Principal Balance Oustanding March 31, 2012 | 1,000 | |
Carrying Value | 988 | 177,663 |
Non-Recourse Notes [Member]
|
||
Maturity Date | Sep. 15, 2012 | |
Principal Balance Oustanding March 31, 2012 | 69,531 | |
Carrying Value | $ 69,531 | $ 93,370 |
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 9 - Convertible Notes and Non-recourse Notes (Detail) - May 2012 Notes (USD $)
|
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Net carrying value of the Series 2012 Notes | $ 371,772,000 | $ 409,985,000 |
Series 2012 Notes [Member]
|
||
Principal amount of the Series 2012 Notes | 179,000,000 | |
Unamortized discount of liability component | (17,789,000) | |
Net carrying value of the Series 2012 Notes | $ 161,211,000 |
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 9 - Convertible Notes and Non-recourse Notes (Detail) - Interest Expense For Our Series 2012 Notes (Series 2012 Notes [Member], USD $)
In Thousands, unless otherwise specified |
3 Months Ended |
---|---|
Mar. 31, 2012
|
|
Series 2012 Notes [Member]
|
|
Contractual coupon interest | $ 1,263 |
Amortization of debt issuance costs | 271 |
Amortization of debt discount | 1,365 |
Total | $ 2,899 |
X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest expense related to convertible debt instruments which has been recognized for the period, including the contractual interest coupon and amortization of the debt discount, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings, excluding amortization of debt discount (premium) and financing costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 9 - Convertible Notes and Non-recourse Notes (Detail) - May 2015 Notes (USD $)
|
Mar. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Net carrying value of the May 2015 Notes | $ 371,772,000 | $ 409,985,000 |
Convertible May 2015 Notes [Member]
|
||
Principal amount of the May 2015 Notes | 155,250,000 | 155,250,000 |
Unamortized discount of liability component | (15,208,000) | (16,298,000) |
Net carrying value of the May 2015 Notes | $ 140,042,000 | $ 138,952,000 |
X | ||||||||||
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 9 - Convertible Notes and Non-recourse Notes (Detail) - Interest Expense for our May 2015 Notes (Convertible May 2015 Notes [Member], USD $)
In Thousands, unless otherwise specified |
3 Months Ended |
---|---|
Mar. 31, 2012
|
|
Convertible May 2015 Notes [Member]
|
|
Contractual coupon interest | $ 1,455 |
Amortization of debt issuance costs | 295 |
Amortization of debt discount | 1,090 |
Total | $ 2,840 |
X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest expense related to convertible debt instruments which has been recognized for the period, including the contractual interest coupon and amortization of the debt discount, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings, excluding amortization of debt discount (premium) and financing costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 10 - Stock-Based Compensation (Detail) (USD $)
|
3 Months Ended | |
---|---|---|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
Directors and Employees [Member]
|
||
Allocated Share-based Compensation Expense, Net of Tax | $ 150,500 | $ 49,900 |
Outside Consultants [Member]
|
||
Allocated Share-based Compensation Expense, Net of Tax | $ 53,900 |
X | ||||||||||
- Definition
The amount of expense, net of income tax, recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. No definition available.
|
Note 11 - Cash Dividends (Detail) (USD $)
|
Dec. 31, 2012
|
Mar. 31, 2012
|
Jan. 18, 2012
|
---|---|---|---|
Dividends Payable, Amount Per Share (in Dollars per share) | $ 0.15 | ||
Dividends Payable Dates To be Paid Day Month And Year | March14, June14,September14 and December14 of 2012 | ||
Dividends Payable Dates of Record, Day, Month and Year | March7, June7,September7 and December 7 of 2012 |
X | ||||||||||
- Definition
Declaration of date(s) as of when a holder must own the stock to be entitled to the dividend. The ex-dividend date is generally 3 days before the record date. No definition available.
|
X | ||||||||||
- Definition
For declared dividends, day, month, and year (YYYY-MM-DD) that the dividend declared as of or prior to the financial reporting date will be paid in the subsequent period. No definition available.
|
X | ||||||||||
- Definition
The per share amount of a dividend declared, but not paid, as of the financial reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 11 - Cash Dividends (Detail) - Conversion Rates for Convertible Notes (USD $)
|
3 Months Ended |
---|---|
Mar. 31, 2012
|
|
Convertible May 2015 Notes [Member]
|
|
Conversion Rate per $1,000 Principal Amount | 139.2165 |
Approximate Conversion Price Per Common Share (in Dollars per share) | $ 7.18 |
Effective Date | Mar. 05, 2012 |
Series 2012 Notes [Member]
|
|
Conversion Rate per $1,000 Principal Amount | 159.098 |
Approximate Conversion Price Per Common Share (in Dollars per share) | $ 6.29 |
Effective Date | Mar. 05, 2012 |
Convertible February 2015 Notes [Member]
|
|
Conversion Rate per $1,000 Principal Amount | 159.098 |
Approximate Conversion Price Per Common Share (in Dollars per share) | $ 6.29 |
Effective Date | Mar. 08, 2012 |
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The ratio applied to the debt for purposes of determining the number of shares of the equity security into which the debt will be converted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Earliest date when the debt instrument can be converted into equity, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 12 - Income Taxes (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
---|---|---|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
Income Tax Expense (Benefit) (in Dollars) | $ 21,605 | $ 24,033 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 35.00% | 35.00% |
X | ||||||||||
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Note 13 - Accumulated Comprehensive Loss (Detail) - Accumulated Other Comprehensive Income (Loss), Net of Tax (USD $)
|
3 Months Ended | |
---|---|---|
Mar. 31, 2012
|
Mar. 31, 2011
|
|
Beginning Balance at December 31, 2011 | $ 29,000 | |
Beginning Balance at December 31, 2011 | (1,914,000) | |
Beginning Balance at December 31, 2011 | (1,885,000) | |
Activity for the three months ended March 31, 2012 | 29,000 | (25,000) |
Activity for the three months ended March 31, 2012 | (6,677,000) | (7,784,000) |
Activity for the three months ended March 31, 2012 | (6,648,000) | (7,809,000) |
Ending Balance at March 31, 2012 | 58,000 | |
Ending Balance at March 31, 2012 | (8,591,000) | |
Ending Balance at March 31, 2012 | $ (8,533,000) |
X | ||||||||||
- Definition
Accumulated appreciation or loss, net of tax, in value of the total of available-for-sale securities at the end of an accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|