NOTE 16 INVESTMENTS


	At September 30, 2015
	Cost/Equity		Unrealized				Fair/Equity
	Basis		Gain		Loss		Basis
Current:
Marketable Equity Securities:
Gabriel Resources Ltd.	$	9	$	—	$	—	$	9
Other		16		3		(3)		16
	$	25	$	3	$	(3)	$	25
Long-term:
Marketable Debt Securities:
Asset backed commercial paper	$	18	$	1	$	—	$	19
Auction rate securities		8		—		(1)		7
		26		1		(1)		26
Marketable Equity Securities:
Regis Resources Ltd.		81		41		—		122
Other		17		2		—		19
		98		43		—		141

Other investments, at cost		14		—		—		14

Equity Method Investments:
Euronimba Ltd.		2		—		—		2
Minera La Zanja S.R.L.		77		—		—		77
Novo Resources Corp.		14		—		—		14
TMAC		104		—		—		104
	$	335	$	44	$	(1)	$	378


	At December 31, 2014
	Cost/Equity		Unrealized				Fair/Equity
	Basis		Gain		Loss		Basis
Current:
Marketable Equity Securities:
Gabriel Resources Ltd.	$	34	$	—	$	(17)	$	17
Other		30		3		(2)		31
		64		3		(19)		48
Certificate of Deposit		25		—		—		25
	$	89	$	3	$	(19)	$	73
Long-term:
Marketable Debt Securities:
Asset backed commercial paper	$	22	$	2	$	—	$	24
Auction rate securities		8		—		(2)		6
		30		2		(2)		30
Marketable Equity Securities:
Regis Resources Ltd.		153		—		—		153
Other		17		2		—		19
		170		2		—		172

Other investments, at cost		14		—		—		14

Equity Method Investments:
Euronimba Ltd.		2						2
Minera La Zanja S.R.L.		101		—		—		101
Novo Resources Corp.		15		—		—		15
	$	332	$	4	$	(2)	$	334

In February 2015, the Company’s $25 Certificate of Deposit matured.

In March 2014, the Company sold its investment in Paladin Energy Ltd. for $25, resulting in a pre-tax gain of $4 recorded in Other income, net.

During the three and nine months ended September 30, 2015, the Company recognized impairments for other-than-temporary declines in value of $28 and $101, respectively, for marketable securities in Other income, net. Impairments recognized during the three months ended September 30, 2015 were primarily related to holdings of Gabriel Resources Ltd. for $21 and Pilot Gold for $7. Impairments recognized during the nine months ended September 30, 2015 were primarily related to Regis Resources Ltd., Gabriel Resources Ltd. and Pilot Gold as a result of continued decline in stock prices.

The following tables present the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are deemed to be temporarily impaired, aggregated by length of time that the individual securities have been in a continuous unrealized loss position:


	Less than 12 Months				12 Months or Greater				Total
At September 30, 2015	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Marketable equity securities	$	7	$	3	$	—	$	—	$	7	$	3
Auction rate securities		—		—		7		1		7		1
	$	7	$	3	$	7	$	1	$	14	$	4


	Less than 12 Months				12 Months or Greater				Total
At December 31, 2014	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Marketable equity securities	$	33	$	19	$	—	$	—	$	33	$	19
Auction rate securities		—		—		6		2		6		2
	$	33	$	19	$	6	$	2	$	39	$	21

While the fair value of the Company’s investments in marketable equity securities and auction rate securities are below their respective cost, the Company views these declines as temporary. The Company has the ability and intends to hold its securities until maturity or such time that the market recovers.