5. RESTRICTED INVESTMENTS AND BOND COLLATERAL

The Company’s restricted investments and bond collateral consist of the following:



	December 31,
	2015		2014
	(In thousands)
Coal - U.S. Segment:
Reclamation bond collateral:
Absaloka Mine	$	11,810	$	11,781
Colstrip Mine	3,145		3,145
Beulah Mine	1,270		1,270
Buckingham acquisition escrow	—		34,000
Coal - Canada Segment:
Reclamation bond collateral - PMRU	18,228		18,199
Reclamation bond collateral - CVRI	33,872		31,866
Coal - WMLP Segment:
Reclamation bond collateral - Ohio	6,895		10,634
Reclamation bond collateral - Kemmerer Mine	27,631		25,282
Power Segment:
Power contract collateral	22,200		12,600
Corporate Segment:
Postretirement medical benefit bond collateral	8,897		8,780
Workers’ compensation bond collateral	6,856		6,832
Total restricted investments and bond collateral	$	140,804	$	164,389

Coal Segments

The coal segments maintain government-required bond collateral of individual mines which assures that coal-mining operations comply with applicable federal and state regulations relating to the performance and completion of final reclamation activities. The amounts deposited in the bond collateral account secure the bonds issued by the bonding company.

Power Segment

The power segment is required to maintain a collateral account related to its contracts to purchase power.

Corporate Segment

The Company is required to obtain surety bonds in connection with its self-insured workers’ compensation plan and certain health care plans. The Company’s surety bond underwriters require collateral to issue these bonds.

Funds in the restricted investments and bond collateral accounts are not available to meet the Company’s general cash needs. The Company can invest its restricted investments and bond collateral in a limited selection of fixed-income investment options and receive the related investment returns.

These accounts include available-for-sale securities. Available-for-sale securities are reported at fair value with unrealized gains and losses excluded from earnings and reported in Accumulated other comprehensive loss. On disposal, the cost basis of an investment sold is specifically identified, and the resulting gain or loss is reported in Other income.

The Company’s carrying value and estimated fair value of its restricted investments and bond collateral at December 31, 2015 are as follows:



	Carrying Value		Fair Value
	(In thousands)
Cash and cash equivalents	$	102,536	$	102,536
Time deposits	2,455		2,455
Available-for-sale	35,813		35,813
	$	140,804	$	140,804

Available-for-Sale Restricted Investments and Bond Collateral

Available-for-sale restricted investments and bond collateral were as follows:



	December 31,
	2015			2014
	(In thousands)
Cost basis	$	36,715		$	33,879
Gross unrealized holding gains	167			761
Gross unrealized holding losses	(1,069		)	(583		)
Fair value	$	35,813		$	34,057

Maturities of available-for-sale securities were as follows at December 31, 2015:



	Amortized Cost		Fair Value
	(In thousands)
Due within one year	$	1,127	$	1,057
Due in five years or less	15,522		14,896
Due after five years to ten years	5,142		4,939
Due in more than ten years	14,924		14,921
	$	36,715	$	35,813

In 2015, 2014, and 2013, the Company recorded gains of $0.1 million, $0.3 million, and less than $0.1 million, respectively, on the sale of available-for-sale securities held as restricted investments and bond collateral.