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MARKETABLE SECURITIES
12 Months Ended
Dec. 31, 2015
Marketable Securities [Abstract]  
MARKETABLE SECURITIES
MARKETABLE SECURITIES
 
As of December 31, 2015 and 2014, the Company held no investments in debt securities. During the year ended December 31, 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 consolidated balance sheets. These investments were also purchased during 2015 and 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 consolidated statements of earnings.

During the year ended December 31, 2015, the Company recognized a net gain on trading securities of $5.6 million, resulting from fluctuations in fair value and foreign exchange.