The Company adopted ASU 20116-01 on July 1, 2020. The first purchases of equity securities occurred in the second quarter of Fiscal Year 2021, so no prospective basis existed for these equity investments. The purchase of these equity investments was recorded in the Consolidated Balance Sheets at $4.3 million as of December 31, 2020. The Company defined these equity investments as trading securities with changes in fair value were immediately recognized through net income in each quarter.

As of December 31, 2020, the carrying values of our equity securities were included in the following line items in our consolidated balance sheet:

	(In thousands)
	Fair Value with Changes Recognized in Income		Measurement Alternative - No Readily Determinable Fair Value
Marketable securities	$	4,286	$	-
Total equity securities	$	4,286	$	-

The calculation of net unrealized gains and losses for the period that relate to equity securities still held at December 31, 2020 is as follows (in thousand):

	Nine Months Ended
	December 31, 2020
Unrealized gains on equity securities as of March 31, 2020	$	-
Unrealized gains on equity securities for the nine months ended December 31, 2020		(1,101	)
Unrealized gains on equity securities as of December 31, 2020	$	(1,101	)

For the three months ended December 31, 2020, the Company recorded realized gains on equity securities of $0.2 million. Both unrealized and realized gains were reflected in earnings.