5. RESTRICTED INVESTMENTS AND BOND COLLATERAL

The Company invests certain bond collateral, reclamation deposits, and other restricted investments in a limited selection of fixed-income investment options and receives the corresponding investment returns. These investments are not available to meet the Company’s general cash needs. 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.

The Company’s carrying value and estimated fair value of its restricted investments at September 30, 2016 were as follows:



	Restricted Investments and Bond Collateral		Reclamation Deposits		Total Restricted Investments
	(In thousands)
Cash and cash equivalents	$	64,307	$	2,309	$	66,616
Time deposits	2,470		—		2,470
Available-for-sale	77,677		71,734		149,411
	$	144,454	$	74,043	$	218,497

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



	Restricted Investments and Bond Collateral		Reclamation Deposits		Total Restricted Investments
	(In thousands)
Cash and cash equivalents	$	102,539	$	45,819	$	148,358
Time deposits	2,455		—		2,455
Available-for-sale	35,813		31,545		67,358
	$	140,807	$	77,364	$	218,171

Available-for-Sale Restricted Investments

The cost basis, gross unrealized holding gains and losses, and fair value of available-for-sale securities at September 30, 2016 were as follows:



	Restricted Investments and Bond Collateral			Reclamation Deposits			Total Restricted Investments
	(In thousands)
Cost basis	$	78,410		$	72,068		$	150,478
Gross unrealized holding gains	273			551			824
Gross unrealized holding losses	(1,006		)	(885		)	(1,891		)
Fair value	$	77,677		$	71,734		$	149,411

The cost basis, gross unrealized holding gains and losses, and fair value of available-for-sale securities at December 31, 2015 were as follows:



	Restricted Investments and Bond Collateral			Reclamation Deposits			Total Restricted Investments
	(In thousands)
Cost basis	$	36,715		$	31,977		$	68,692
Gross unrealized holding gains	167			521			688
Gross unrealized holding losses	(1,069		)	(953		)	(2,022		)
Fair value	$	35,813		$	31,545		$	67,358