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Investments | 12 Months Ended
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Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Investments on the Consolidated Balance Sheets as of December 31, 2017 and 2016 included available-for-sale and trading securities. At December 31, 2017 and 2016, Federated held investments totaling $1.6 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 at December 31:
|  | 2017 |  | 2016
|  |  |  | Gross Unrealized |  | Estimated Fair Value |  |  |  | Gross Unrealized |  | Estimated Fair Value
in thousands |  | Cost |  |  | Gains |  |  | (Losses) |  |  | Cost |  |  | Gains |  |  | (Losses) |  |
Equity funds |  | $ | 202 |  |  | $ | 0 |  |  | $ | (27 | ) |  | $ | 175 |  |  | $ | 23,883 |  |  | $ | 2,112 |  |  | $ | (266 | ) |  | $ | 25,729 |
Fixed-income funds |  | 1,297 |  |  | 107 |  |  | 0 |  |  | 1,404 |  |  | 105,514 |  |  | 92 |  |  | (550 | ) |  | 105,056 |
Total available-for-sale securities |  | $ | 1,499 |  |  | $ | 107 |  |  | $ | (27 | ) |  | $ | 1,579 |  |  | $ | 129,397 |  |  | $ | 2,204 |  |  | $ | (816 | ) |  | $ | 130,785 |
The decrease in available-for-sale securities as of December 31, 2017 as compared to 2016 primarily related to net redemptions of available-for-sale securities during 2017. Federated's trading securities totaled $51.7 million and $65.5 million at December 31, 2017 and 2016, respectively. The decrease primarily relates to the liquidation of three consolidated Federated Fund VREs during 2017. 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 (4)). 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 represented other trading investments held in Separate Accounts. Federated's trading securities as of December 31, 2017 and 2016, were primarily composed of domestic and foreign debt securities ($42.2 million and $45.5 million, respectively), stocks of large U.S. and international companies ($4.5 million and $7.2 million, respectively), stocks of small and medium-sized companies ($4.4 million and $2.8 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 (loss) 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 for the years ended December 31:
in thousands |  | 2017 |  |  | 2016 |  |  | 2015 |
Net unrealized gains (losses) |  |  |  |  |  |
Trading securities |  | $ | 118 |  |  | $ | 4,971 |  |  | $ | (1,359 | )
Derivatives 1 |  | 771 |  |  | (348 | ) |  | 119 |
Realized gains 2 |  |  |  |  |  |
Available-for-sale securities |  | 5,348 |  |  | 298 |  |  | 1,503 |
Trading securities |  | 2,404 |  |  | 1,663 |  |  | 910 |
Derivatives 1 |  | 1,648 |  |  | 1,032 |  |  | 301 |
Realized losses 2 |  |  |  |  |  |
Available-for-sale securities 3 |  | (881 | ) |  | (1,647 | ) |  | (2,348 | )
Trading securities |  | (917 | ) |  | (2,252 | ) |  | (2,760 | )
Derivatives 1 |  | (419 | ) |  | (1,609 | ) |  | (1,630 | )
Gain (loss) on securities, net 4 |  | $ | 8,072 |  |  | $ | 2,108 |  |  | $ | (5,264 | )
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 | The losses for the years ended December 31, 2016 and 2015 include $1.6 million and $1.3 million, respectively, for impairments of certain available-for-sale securities.
4 | Amounts related to consolidated entities, primarily Federated Funds, totaled $3.0 million, $2.9 million and $(4.0) million for the years ended December 31, 2017, 2016 and 2015, 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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