Marketable Securities

The Company has investments in available-for-sale marketable securities which are recorded at fair market value. Unrealized gains and losses are recorded as other comprehensive income (loss) in shareholders’ equity, net of income tax effects.

The following tables show the Company’s available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category as of December 31, 2016 and 2015, respectively:



	2016
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value

Equity securities	$	3,689	$	409	$	(65	)	$	4,033
Corporate bonds	57,871		89		(612		)	57,348
Government securities - U.S.	43,049		515		(750		)	42,814
Government securities - Non-U.S.	247		—		(14		)	233
Other fixed-income securities	10,281		221		(31		)	10,471
Other securities	81		—		—			81
Total	$	115,218	$	1,234	$	(1,472	)	$	114,980



	2015
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value

Equity securities	$	3,510	$	29	$	(14	)	$	3,525
Time deposits	13,641		—		—			13,641
Corporate bonds	42,129		1,520		(1,510		)	42,139
Government securities - U.S.	13,822		4		(88		)	13,738
Government securities - Non-U.S.	1,112		8		(57		)	1,063
Other fixed-income securities	4,008		—		(16		)	3,992
Other securities	1,663		—		(23		)	1,640
Total	$	79,885	$	1,561	$	(1,708	)	$	79,738

We determine realized gains or losses on the sale of marketable securities on a specific identification method. We recognized gross realized gains of $1,265, $241, and $24 for the twelve months ended December 31, 2016, 2015, and 2014, respectively. These realized gains were offset by realized losses of $586, $677, and $81 for the twelve-months ended December 31, 2016, 2015, and 2014, respectively. We reflect these gains and losses as a component of investment and other income in the accompanying consolidated statements of income (loss).

The following table summarizes the estimated fair value of our investments in marketable debt securities, accounted for as available-for-sale securities and classified by the contractual maturity date of the securities as of December 31, 2016:



	Maturities
Marketable Securities:	Less than 1 Year		1-5 Years		5-10 Years		Greater than 10 Years		Total

Equity securities	$	4,033	$	—	$	—	$	—	$	4,033
Corporate bonds	11,933		39,325		5,655		435		57,348
Government securities - U.S.	2,258		33,270		1,530		5,756		42,814
Government securities - Non-U.S.	—		—		233		—		233
Other fixed-income securities	—		8,199		1,996		276		10,471
Other securities	81		—		—		—		81
Total	$	18,305	$	80,794	$	9,414	$	6,467	$	114,980

The Company has classified our investment in available-for-sale marketable securities as current assets in the consolidated balance sheets at December 31, 2016 and 2015, respectively, as the securities need to be available for use, if required, to fund current operations. There are no restrictions placed around the sale of any securities in our investment portfolio.