XML 51 R24.htm IDEA: XBRL DOCUMENT v3.3.0.814
MARKETABLE SECURITIES
9 Months Ended
Sep. 30, 2015
Marketable Securities [Abstract]  
MARKETABLE SECURITIES
MARKETABLE SECURITIES
 
As of September 30, 2015 and December 31, 2014, the Company held no investments in debt securities. During the three months ended September 30, 2015, the Company sold debt securities prior to maturity for $21.7 million, which had been classified as trading securities and included in prepaid expenses and other assets in the condensed consolidated balance sheets. These investments were carried at fair value based on quoted market prices and classified as Level 1 in the fair value hierarchy. The cost basis for the Company’s debt securities is determined by the specific identification method. Realized and unrealized gains and losses on trading securities are included in other (income)/expenses - net in the Company’s condensed consolidated statements of earnings.

During the three and nine months ended September 30, 2015, the Company recognized a net loss on trading securities of $0.8 million, and a net gain on trading securities of $5.6 million, respectively, resulting from fluctuations in fair value and foreign exchange.