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Investments (Tables) | 12 Months Ended
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Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract] |
Available-For-Sale Securities | Available-for-sale securities (see Note (1)(g)) were as follows:
|  | 2015 |  | 2014
|  |  |  | Gross Unrealized |  | Estimated Fair Value |  |  |  |  | Gross Unrealized |  | Estimated Fair Value |
in thousands |  | Cost |  |  | Gains |  |  | (Losses) |  |  | Cost |  |  | Gains |  |  | (Losses) |  |
Equity mutual funds |  | $ | 32,357 |  |  | $ | 342 |  |  | $ | (2,416 | ) |  | $ | 30,283 |  |  | $ | 26,887 |  |  | $ | 1,216 |  |  | $ | (737 | ) |  | $ | 27,366 |
Fixed-income mutual funds |  | 115,396 |  |  | 109 |  |  | (4,040 | ) |  | 111,465 |  |  | 118,081 |  |  | 110 |  |  | (2,367 | ) |  | 115,824 |
Total fluctuating-value mutual funds |  | $ | 147,753 |  |  | $ | 451 |  |  | $ | (6,456 | ) |  | $ | 141,748 |  |  | $ | 144,968 |  |  | $ | 1,326 |  |  | $ | (3,104 | ) |  | $ | 143,190 |
Gains and losses on investments | The following table presents gains and losses recognized in (Loss) gain on securities, net on the Consolidated Statements of Income in connection with investments and economic derivatives held by certain consolidated investment companies for the years ended December 31:
in thousands |  | 2015 |  |  | 2014 |  |  | 2013 |
Unrealized (loss) gain |  |  |  |  |  |
Trading securities |  | $ | (1,359 | ) |  | $ | (2,578 | ) |  | $ | 2,036 |
Derivatives1 |  | 119 |  |  | (147 | ) |  | (49 | )
Realized gains2 |  |  |  |  |  |
Available-for-sale securities |  | 1,503 |  |  | 5,359 |  |  | 15,390 |
Trading securities |  | 910 |  |  | 4,514 |  |  | 1,306 |
Derivatives1 |  | 301 |  |  | 214 |  |  | 1,083 |
Realized losses2 |  |  |  |  |  |
Available-for-sale securities3 |  | (2,348 | ) |  | (91 | ) |  | (1,561 | )
Trading securities |  | (2,760 | ) |  | (1,848 | ) |  | (870 | )
Derivatives1 |  | (1,630 | ) |  | (451 | ) |  | (349 | )
(Loss) gain on securities, net4 |  | $ | (5,264 | ) |  | $ | 4,972 |  |  | $ | 16,986 |
1 | Amounts related to the settlement of economic derivatives held by certain consolidated sponsored products.
2 | Realized gains and losses are computed on a specific-identification basis.
3 | The losses for the year ended December 31, 2015 include an impairment of an available-for-sale security.
4 | Amounts related to consolidated investment companies totaled $(4.0) million, $(0.6) million and $2.6 million for 2015, 2014 and 2013, respectively.

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 + Details
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- Definition Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (c)-(e) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51813488&loc=d3e22054-111558 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.M) -URI http://asc.fasb.org/extlink&oid=27011274&loc=d3e87990-122713 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section M + Details
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