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Investments | 9 Months Ended
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Sep. 30, 2012
Investments |
Investments |
9. Investments Investments in Marketable Securities Investment in marketable securities at December 31, 2011 and September 30, 2012 were $100.4 million and $109.9 million, respectively. These investments are comprised of the Company's investments in Value Partners Group Limited ("Value Partners"), a publicly-traded asset management firm based in Hong Kong, and investments held by Affiliates. Available-for-Sale Investments The following is a summary of the cost, gross unrealized gains and losses and fair value of investments classified as available-for-sale at December 31, 2011 and September 30, 2012: December 31, 2011
|  |  |  | Gross Unrealized |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
|  |  |  | Fair Value |
|  | Cost |  | Gains |  | Losses |
Equity securities |  | $ | 97.6 |  | $ | 1.4 |  | $ | (12.7 | ) | $ | 86.3 |
September 30, 2012
|  |  |  | Gross Unrealized |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
|  |  |  | Fair Value |
|  | Cost |  | Gains |  | Losses |
Equity securities |  | $ | 101.1 |  | $ | 1.6 |  | $ | (13.9 | ) | $ | 88.8 |
As of September 30, 2012, the Company has invested $67.1 million in Value Partners, representing 7.8% of the outstanding common stock. In the second quarter of 2012, the investment in Value Partners declined, resulting in an unrealized loss. The Company intends to hold this investment for a reasonable period of time sufficient for a forecasted recovery of fair value. The following is a summary of the Company's realized gains and losses on investments classified as available-for-sale:
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30, |
--- | --- | --- | --- | --- | ---
|  | 2011 |  | 2012 |  | 2011 |  | 2012 |
Gains |  | $ | — |  | $ | 0.1 |  | $ | 0.2 |  | $ | 0.1 |
Losses |  |  | — |  |  | — |  |  | — |  |  | — |
Net realized gains |  | $ | — |  | $ | 0.1 |  | $ | 0.2 |  | $ | 0.1 |
Trading Securities The following is a summary of the cost, gross unrealized gains and losses and fair value of investments classified as trading securities at December 31, 2011 and September 30, 2012: December 31, 2011
|  |  |  | Gross Unrealized |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
|  |  |  | Fair Value |
|  | Cost |  | Gains |  | Losses |
Equity securities |  | $ | 13.5 |  | $ | 0.9 |  | $ | (0.3 | ) | $ | 14.1 |
September 30, 2012
|  |  |  | Gross Unrealized |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
|  |  |  | Fair Value |
|  | Cost |  | Gains |  | Losses |
Equity securities |  | $ | 11.4 |  | $ | 10.8 |  | $ | (1.1 | ) | $ | 21.1 |
The following is a summary of the Company's realized gains and losses on investments classified as trading securities:
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30, |
--- | --- | --- | --- | --- | ---
|  | 2011 |  | 2012 |  | 2011 |  | 2012 |
Gains |  | $ | 0.1 |  | $ | 0.2 |  | $ | 0.5 |  | $ | 0.8 |
Losses |  |  | — |  |  | 0.0 |  |  | (0.3 | ) |  | (0.3 | )
Net realized gains |  | $ | 0.1 |  | $ | 0.2 |  | $ | 0.2 |  | $ | 0.5 |
Other Investments Other investments consist of investments in funds advised by Affiliates. As of December 31, 2011 and September 30, 2012, the Company's other investments were $145.3 million and $153.6 million, respectively. These assets are reported within Prepaid expenses and other current assets ($31.2 million and $23.3 million at December 31, 2011 and September 30, 2012, respectively) and Other assets ($114.1 million and $130.3 million at December 31, 2011 and September 30, 2012, respectively) in the Consolidated Balance Sheets. The income or loss related to these investments is classified within Investment and other income in the Consolidated Statements of Income.

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- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26626-111562 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26610-111562 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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