NOTE 4—INVESTMENT IN SECURITIES:

Available-for-sale securities are comprised mainly of debt securities. Investments in securities are classified based on the initial maturity as well as the intended time of realization.

In January 2016, the FASB issued guidance which requires entities to recognize changes in fair value in net income rather than in accumulated other comprehensive income. Teva adopted this update in the first quarter of 2018.

At December 31, 2018 and 2017, the fair value, amortized cost and gross unrealized holding gains and losses of such securities were as follows:


	Fair value		Amortized cost		Gross unrealized holding gains		Gross unrealized holding losses
	(U.S. $ in millions)
December 31, 2018	$	266	$	—	$	—	$	—
December 31, 2017	$	102	$	103	$	19	$	20

During 2018, Teva sold and settled certain investments for cash consideration of approximately $11 million; Consequently, Teva recorded a $2 million net gain under financial expenses-net. Additionally the company recorded a revaluation to its remaining securities, resulting in approximately $10 million loss recorded under financial expenses-net.

In the first quarter of 2017, Teva settled the remaining balance of approximately 17 million Mylan shares for an average price of $40.2 per share for an aggregate cash consideration of approximately $702 million. Consequently, Teva recorded a $36 million net gain under financial expenses-net. See note 17.

Investments in securities are presented in the balance sheet as follows:


	December 31,
	2018		2017
	(U.S. $ in millions)
Other current assets	$	2	$	14
Other non-current assets		61		83
Money market funds		203		5

	$	266	$	102