SHORT-TERM INVESTMENTS:

6 Months Ended

Jun. 30, 2020

SHORT-TERM INVESTMENTS:

SHORT-TERM INVESTMENTS:

NOTE 3 — SHORT-TERM INVESTMENTS:

Short-term investments were as follows ($ in millions):

	At June 30,			At December 31,
	2020			2019
Trading securities	$	30.1		$	80.0
Weighted average interest rate		0.1	%		2.0	%
Available-for-sale	$	0.6		$	0.7
Weighted average interest rate		0.7	%		0.7	%
Total	$	30.7		$	80.7

Trading securities consist of bonds issued by public companies and are publicly traded. Each financial instrument is independent of the others. The Company has the intention to sell these bonds in the short-term.

Available-for-sale investments consist of securities issued by public companies. Each security is independent of the others and as of June 30, 2020 and December 31, 2019, included corporate bonds and asset and mortgage backed obligations. As of June 30, 2020 and December 31, 2019, gross unrealized gains and losses on available-for-sale securities were not material.

The Company earned interest related to these investments, which was recorded as interest income in the condensed consolidated statement of earnings. Also, the Company redeemed some of these securities and recognized gains (losses) due to changes in fair value, which were recorded as other income (expense) in the condensed consolidated statement of earnings.

The following table summarizes the activity of these investments by category (in millions):

	Three months ended				Six months ended
	June 30,				June 30,
	2020		2019		2020		2019
Trading:
Interest earned	$	(*)	$	(*)	$	0.4	$	0.1
Unrealized gain (loss) at the end of the period	$	(*)	$	(*)	$	(*)	$	(*)
Available-for-sale:
Interest earned		(*)		(*)				(*)
Investment redeemed	$	—	$	—	$	0.1	$	—

(*) Less than $0.1 million.