Investments (Tables)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

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)			Estimated Fair Value		Cost		Gains		(Losses)			Estimated Fair Value
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

Gains and losses on investments

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	)
Derivatives¹	771			(348		)	119
Realized gains²
Available-for-sale securities	5,348			298			1,503
Trading securities	2,404			1,663			910
Derivatives¹	1,648			1,032			301
Realized losses²
Available-for-sale securities³	(881		)	(1,647		)	(2,348		)
Trading securities	(917		)	(2,252		)	(2,760		)
Derivatives¹	(419		)	(1,609		)	(1,630		)
Gain (loss) on securities, net⁴	$	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.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

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