Investments

Available-for-sale Securities

The Company’s available-for-sale securities as of December 31, 2014 and 2013, are presented below:



	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
2014
Mortgage-backed securities	$	820	$	22	$	32	$	810
Asset-backed securities	1,168		—		3		1,165
Municipal bonds	545		9		—		554
Equity securities ^(a)	16,612		—		201		16,411
Total available-for-sale securities	$	19,145	$	31	$	236	$	18,940
2013
Mortgage-backed securities	$	867	$	16	$	44	$	839
Asset-backed securities	1,393		—		2		1,391
Municipal bonds	610		4		95		519
Equity securities ^(a)	13,777		—		563		13,214
Total available-for-sale securities	$	16,647	$	20	$	704	$	15,963


(a)	These securities exclude $5,927 in equity securities designated as trading as of December 31, 2014, and $4,339 as of December 31, 2013, included in other assets on the consolidated balance sheets. See Note 15 for additional information about the securities designated as trading.

The Company’s management has determined that the gross unrealized losses on its investment securities at December 31, 2014 and 2013 are temporary in nature. The Company reviews its investments to identify and evaluate investments that have indications of possible impairment. The Company’s techniques used to measure the fair value of its investments are in Note 16, Fair Value. Factors considered in determining whether a loss is temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. Substantially all of the Company’s fixed income securities are rated investment grade or better.

The Company had maturities of available-for-sale securities of $337 for the year ended December 31, 2014, $1,192 for the year ended December 31, 2013, and $1,551 for the year ended December 31, 2012.

The maturity dates of the Company’s available-for-sale securities are as follows:



	December 31,
	2014				2013
	Cost		Fair Value		Cost		Fair Value
Due within 1 year	$	213	$	211	$	—	$	—
Due after 1 year through year 5	342		341		729		728
Due after 5 years through year 10	—		—		—		—
Due after 10 years	1,158		1,167		1,274		1,182
Mortgage-backed securities with original maturities of 30 years	820		810		867		839
Equity securities with no maturity dates	16,612		16,411		13,777		13,214
Total	$	19,145	$	18,940	$	16,647	$	15,963