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SHORT-TERM INVESTMENTS: | 9 Months Ended
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Sep. 30, 2016
SHORT-TERM INVESTMENTS: |
SHORT-TERM INVESTMENTS: | NOTE 2 — SHORT-TERM INVESTMENTS: Short-term investments were as follows ($ in millions):
|  | At September 30, 2016 |  | At December 31, 2015 |
Trading securities |  | $ | 98.3 |  | $ | 600.2 |
Weighted average interest rate |  | 1.34 | % | 0.71 | %
Available-for-sale |  | $ | 2.5 |  | $ | 3.3 |
Weighted average interest rate |  | 0.80 | % | 0.72 | %
Total |  | $ | 100.8 |  | $ | 603.5 |
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 at September 30, 2016 and December 31, 2015, included corporate bonds and asset and mortgage backed obligations. As of September 30, 2016 and December 31, 2015, 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 condensed consolidated statement of earnings. The Company also redeemed some of these securities and recognized gains (losses) due to changes in fair value, which were recorded as other income (expense) in the condensed consolidated statement of earnings. The following table summarizes the activity of these investments by category ($ in millions):
|  | Three months ended September 30, |  | Nine months ended September 30, |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |
Trading securities: |  |  |  |  |  |  |  |  |
Interest earned |  | $ | 0.3 |  | $ | 0.4 |  | $ | 1.0 |  | $ | 0.9 |
Unrealized gain (loss) at the end of the period |  | 0.3 |  | (* | ) | 0.3 |  | (* | )
Available-for-sale: |  |  |  |  |  |  |  |  |
Interest earned |  | (* | ) | (* | ) | (* | ) | (* | )
Investment redeemed |  | $ | 0.3 |  | $ | 0.2 |  | $ | 0.8 |  | $ | 0.8 |
(*) Less than $0.1 million

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