XML 47 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Investments (Tables)
 12 Months Ended
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.