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SHORT-TERM INVESTMENTS: | 12 Months Ended
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Dec. 31, 2023
SHORT-TERM INVESTMENTS: |
SHORT-TERM INVESTMENTS: | NOTE 3—SHORT-TERM INVESTMENTS: ​ Short-term investments were as follows ($ in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31, |
​ | ​ | 2023 |  | 2022 |
Trading securities | ​ | $ | 599.1 | ​ | $ | 208.0 | ​
Weighted average interest rate | ​ |  | 5.7 | % |  | 4.5 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available-for-sale | ​ | $ | 0.2 | ​ | $ | 0.3 | ​
Weighted average interest rate | ​ |  | 0.8 | % |  | 0.8 | %
Total | ​ | $ | 599.3 | ​ | $ | 208.3 | ​
​ 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, 2023 and 2022, included asset and mortgage backed obligations. As of December 31, 2023 and 2022, gross unrealized gains and losses on available-for-sale securities were not material. ​ The Company earned interest related to these investments, 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, | ​
​ | ​ | 2023 |  | 2022 |
Trading: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest earned | ​ | $ | 21.0 | ​ | $ | 4.4 | ​
Unrealized gain (loss) at the end of the period | ​ | $ | (*) | ​ | $ | (*) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest earned | ​ | $ | (*) | ​ | $ | (*) | ​
Investment redeemed | ​ | $ | 0.1 | ​ | $ | 0.1 | ​
(*) Less than $0.1 million ​ At December 31, 2023 and 2022, contractual maturities of the available-for-sale debt securities are as follows (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
One year or less | ​ | $ | — | ​ | $ | —
Maturing after one year through five years | ​ |  | — | ​ |  | —
Maturing after five years through ten years | ​ |  | — | ​ |  | —
Due after 10 years | ​ |  | 0.2 | ​ |  | 0.3
Total debt securities | ​ | $ | 0.2 | ​ | $ | 0.3
​

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