| Summary of the Company's assets and liabilities measured at fair value on a recurring basis |
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March 31,
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(In thousands)
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2015
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Level 1
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Level 2
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Level 3
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Assets:
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U.S. government and agency debt securities
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$
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336,892
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$
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191,186
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$
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145,706
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$
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—
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Corporate debt securities
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210,066
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—
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210,066
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—
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International government agency debt securities
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47,823
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—
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47,823
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—
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Total
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$
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594,781
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$
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191,186
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$
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403,595
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$
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—
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December 31,
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2014
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Level 1
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Level 2
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Level 3
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Assets:
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U.S. government and agency debt securities
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$
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326,653
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$
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189,030
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$
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137,623
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$
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—
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Corporate debt securities
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201,963
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—
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201,963
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—
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International government agency debt securities
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47,347
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—
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47,347
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—
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Total
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$
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575,963
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$
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189,030
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$
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386,933
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$
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—
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| Estimated fair value of term loans |
The estimated fair value of these term loans, which was based on quoted market price indications (Level 2 in the fair value hierarchy) and may not be representative of actual values that could have been or will be realized in the future, was as follows at March 31, 2015:
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Carrying
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Estimated
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(In thousands)
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Value
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Fair Value
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Term Loan B-1
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$
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290,821
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$
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292,225
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Term Loan B-2
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$
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65,567
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$
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65,379
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