MARKETABLE SECURITIES

6 Months Ended

Jun. 30, 2016

Marketable Securities [Abstract]

MARKETABLE SECURITIES

16. MARKETABLE SECURITIES

As of June 30, 2015, the Company held investments in debt securities of $22.5 million classified as trading securities, which were included in prepaid expensesand other assets. These investments were carried at fair value based on quoted market prices and classified as Level 1 in the fair value hierarchy. Cost basis for the Company’s debt securities is determined by the specific identification method. Realized and unrealized gains and losses on trading securities were included in other (income)/expenses - net.

The Company sold its investments in debt securities during the third quarter of 2015. As of June 30, 2016 and December 31, 2015, the Company held no investments in debt securities. During the three months and six months ended June 30, 2015, the Company recognized gains on trading securities of $6.4 million resulting from fluctuation in fair value and foreign exchange.