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SHORT-TERM INVESTMENTS: | 12 Months Ended
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Dec. 31, 2015
SHORT-TERM INVESTMENTS: |
SHORT-TERM INVESTMENTS: | NOTE 3- SHORT-TERM INVESTMENTS: Short-term investments were as follows ($ in millions):
|  | At December 31, |
|  | 2015 |  | 2014 |
Trading securities |  | $ | 600.2 |  | $ | 333.7 |
Weighted average interest rate |  | 0.71 | % | 0.78 | %
Available-for-sale |  | $ | 3.3 |  | $ | 4.9 |
Weighted average interest rate |  | 0.72 | % | 0.44 | %
Total |  | $ | 603.5 |  | $ | 338.6 |
Trading securities consist of bonds issued by public companies and are publicly traded. Each financial instrument is independent of the others. The Company has the intention to sell these bonds in the short-term. Available-for-sale investments consist of securities issued by public companies. Each security is independent of the others and, as of December 31, 2015 and 2014, included corporate bonds and asset and mortgage backed obligations. As of December 31, 2015 and 2014, gross unrealized gains and losses on available-for-sale securities were not material. Related to these investments the Company earned interest, which was recorded as interest income in the consolidated statement of earnings. Also the Company redeemed some of these securities and recognized gains (losses) due to changes in fair value, which were recorded as other income (expense) in the consolidated statement of earnings. The following table summarizes the activity of these investments by category (in millions):
|  | Years ended December 31, |
|  | 2015 |  | 2014 |
Trading: |  |  |  |  |
Interest earned |  | $ | 1.5 |  | $ | 4.3 |
Unrealized gain (loss) at December 31, |  | $ | (0.1 | ) | $ | 2.1 |
Available-for-sale: |  |  |  |  |
Interest earned |  | (* | ) | (* | )
Investment redeemed |  | $ | 1.6 |  | $ | 0.8 |
(*) Less than $0.1 million At December 31, 2015 and 2014, contractual maturities of the available-for-sale debt securities are as follows (in millions):
|  | 2015 |  | 2014 |
One year or less |  | $ | 0.2 |  | $ | 0.3 |
Maturing after one year through five years |  | — |  | — |
Maturing after five years through ten years |  | — |  | 0.1 |
Due after 10 years |  | 3.1 |  | 4.5 |
Total debt securities |  | $ | 3.3 |  | $ | 4.9 |

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