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Investments | 9 Months Ended
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Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Investments on the Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016 included available-for-sale and trading securities. At September 30, 2017 and December 31, 2016, Federated held investments totaling $116.1 million and $130.8 million, respectively, in fluctuating-value Federated Funds that were classified as available-for-sale securities and were included in Investments—affiliates on the Consolidated Balance Sheets. Available-for-sale securities were as follows:
|  | September 30, 2017 |  | December 31, 2016
|  |  |  | Gross Unrealized |  | Estimated Fair |  |  |  | Gross Unrealized |  | Estimated Fair
(in thousands) |  | Cost |  | Gains |  | (Losses) |  | Value |  | Cost |  | Gains |  | (Losses) |  | Value
Equity funds |  | $ | 14,040 |  |  | $ | 2,188 |  |  | $ | (23 | ) |  | $ | 16,205 |  |  | $ | 23,883 |  |  | $ | 2,112 |  |  | $ | (266 | ) |  | $ | 25,729 |
Fixed-income funds |  | 100,468 |  |  | 105 |  |  | (642 | ) |  | 99,931 |  |  | 105,514 |  |  | 92 |  |  | (550 | ) |  | 105,056 |
Total available-for-sale securities |  | $ | 114,508 |  |  | $ | 2,293 |  |  | $ | (665 | ) |  | $ | 116,136 |  |  | $ | 129,397 |  |  | $ | 2,204 |  |  | $ | (816 | ) |  | $ | 130,785 |
The decrease in the available-for-sale securities as of September 30, 2017 as compared to December 31, 2016 primarily related to net redemptions of available-for-sale securities during 2017. Federated's trading securities totaled $50.7 million and $65.5 million at September 30, 2017 and December 31, 2016, respectively. Federated consolidates certain Federated Funds into its Consolidated Financial Statements as a result of Federated's controlling financial interest in the Federated Fund (see Note (5)). All investments held by these Federated Funds were included in Investments—consolidated investment companies on Federated's Consolidated Balance Sheets. Investments—other on the Consolidated Balance Sheets represent other trading investments held in Separate Accounts. Federated's trading securities as of September 30, 2017 and December 31, 2016, were primarily composed of domestic debt securities ($46.0 million and $45.5 million, respectively), stocks of large U.S. and international companies ($3.6 million and $7.2 million, respectively) and investments in Federated Funds ($0.6 million and $8.9 million, respectively). The following table presents gains and losses recognized in Gain on securities, net on the Consolidated Statements of Income in connection with Federated's investments as well as economic derivatives held by certain consolidated Federated Funds:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
(in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Net unrealized gains (losses) |  |  |  |  |  |  |  |
Trading securities |  | $ | 151 |  |  | $ | 1,684 |  |  | $ | 526 |  |  | $ | 5,410 |
Derivatives 1 |  | (499 | ) |  | 315 |  |  | 493 |  |  | 11 |
Realized gains 2 |  |  |  |  |  |  |  |
Available-for-sale securities 3 |  | 914 |  |  | 266 |  |  | 2,806 |  |  | 291 |
Trading securities |  | 258 |  |  | 472 |  |  | 2,014 |  |  | 1,058 |
Derivatives 1 |  | 914 |  |  | 28 |  |  | 1,648 |  |  | 583 |
Realized losses 2 |  |  |  |  |  |  |  |
Available-for-sale securities 3 |  | 0 |  |  | 0 |  |  | (14 | ) |  | (1,645 | )
Trading securities |  | (71 | ) |  | (273 | ) |  | (692 | ) |  | (2,048 | )
Derivatives 1 |  | 0 |  |  | (460 | ) |  | (318 | ) |  | (1,107 | )
Gain on securities, net 4 |  | $ | 1,667 |  |  | $ | 2,032 |  |  | $ | 6,463 |  |  | $ | 2,553 |
1 | Amounts related to the settlement of economic derivatives held by certain consolidated Federated Funds.
2 | Realized gains and losses are computed on a specific-identification basis.
3 | Proceeds from redemptions of available-for-sale securities were $9.0 million and $26.4 million for the three and nine months ended September 30, 2017, respectively. These amounts include a redemption of $1.5 million recorded as a receivable during the second quarter that was not settled until after June 30, 2017. Proceeds from redemptions of available-for-sale securities were $7.8 million and $8.0 million for the three and nine months ended September 30, 2016, respectively.
4 | Amounts related to consolidated entities, primarily Federated Funds, totaled $0.6 million and $3.2 million for the three and nine months ended September 30, 2017, respectively and $1.6 million and $3.5 million for the three and nine months ended September 30, 2016, respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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