INVESTMENTS	3 Months Ended
Mar. 31, 2016
INVESTMENTS
INVESTMENTS	NOTE 2 INVESTMENTS The investment portfolio of the Company consists of marketable equity securities of certain publicly traded companies, which are classified as available-for-sale securities and are recorded at fair value based upon quoted market prices. As of March 31, 2016, the total cost of all marketable equity securities was $1.4 million (December 31, 2015 - $1.9 million). During the three months ended March 31, 2016, the Company sold marketable equity securities for proceeds of $0.4 million and realized a gain of $0.1 million. In addition, as at March 31, 2016, the Company reviewed its investment portfolio to determine if any security is other-than-temporarily impaired, which would require the Company to record an impairment charge in the income statement in the period any such determination is made. In making this judgment, the Company evaluated, among other things, the duration and extent to which the fair value of a security is less than its cost; the financial condition of the issuer and any changes thereto; and the Company’s intent to sell, or whether it will more likely than not be required to sell, the security before recovery of its amortized cost basis. From this assessment the Company concluded that the fair value of its portfolio of securities was $0.5 million. The Company also concluded that the fair value of certain marketable equity securities exhibited a prolonged decline in share price due to deterioration of the issuer’s results; therefore the decline in these marketable equity securities was considered other-than-temporarily impaired. Accordingly, the Company recognized an other-than-temporary impairment loss of $0.3 million on the Consolidated Statement of Operations and Comprehensive Income, for the three month period ended March 31, 2016. For the remaining marketable equity securities, the Company recorded a loss, net of tax, of $0.7 million in other comprehensive income, since it was concluded they were not other-than-temporarily impaired as of March 31, 2016. The loss was recorded in accumulated other comprehensive income and is reported as a separate line item in the shareholders' equity section of the balance sheet. The gains and losses for available-for-sale securities are not reported on the statement of operations until the securities are sold or if there is an other-than-temporary decline in fair value below cost.

NOTE 2 INVESTMENTS

The investment portfolio of the Company consists of marketable equity securities of certain publicly traded companies, which are classified as available-for-sale securities and are recorded at fair value based upon quoted market prices. As of March 31, 2016, the total cost of all marketable equity securities was $1.4 million (December 31, 2015 - $1.9 million).

During the three months ended March 31, 2016, the Company sold marketable equity securities for proceeds of $0.4 million and realized a gain of $0.1 million.

In addition, as at March 31, 2016, the Company reviewed its investment portfolio to determine if any security is other-than-temporarily impaired, which would require the Company to record an impairment charge in the income statement in the period any such determination is made. In making this judgment, the Company evaluated, among other things, the duration and extent to which the fair value of a security is less than its cost; the financial condition of the issuer and any changes thereto; and the Company’s intent to sell, or whether it will more likely than not be required to sell, the security before recovery of its amortized cost basis.

From this assessment the Company concluded that the fair value of its portfolio of securities was $0.5 million. The Company also concluded that the fair value of certain marketable equity securities exhibited a prolonged decline in share price due to deterioration of the issuer’s results; therefore the decline in these marketable equity securities was considered other-than-temporarily impaired. Accordingly, the Company recognized an other-than-temporary impairment loss of $0.3 million on the Consolidated Statement of Operations and Comprehensive Income, for the three month period ended March 31, 2016.

For the remaining marketable equity securities, the Company recorded a loss, net of tax, of $0.7 million in other comprehensive income, since it was concluded they were not other-than-temporarily impaired as of March 31, 2016. The loss was recorded in accumulated other comprehensive income and is reported as a separate line item in the shareholders' equity section of the balance sheet. The gains and losses for available-for-sale securities are not reported on the statement of operations until the securities are sold or if there is an other-than-temporary decline in fair value below cost.