Marketable Securities

3 Months Ended

Mar. 31, 2018

Investments Debt And Equity Securities [Abstract]

Note 6—Marketable securities:

Our marketable securities consist of marketable equity and debt securities. Prior to 2018, any unrealized gains or losses on equity securities were recognized through other comprehensive income, net of deferred income taxes. Beginning on January 1, 2018 with the adoption of Accounting Standards Update (“ASU”) 2016-01, our marketable equity securities will continue to be carried at fair value as noted above, but any unrealized gains or losses on the securities are now recognized as a component of other income included in the securities transactions, net on our Condensed Consolidated Statements of Income. See Note 19.

	Market value		Cost basis		Unrealized losses, net
	(In millions)
December 31, 2017:
Current assets	$	3.0		3.0		—
Noncurrent assets:
The Amalgamated Sugar Company LLC	$	250.0		250.0		—
Other		5.7		5.9		(.2	)
Total	$	255.7		255.9		(.2	)
March 31, 2018:
Current assets	$	.6		.6		—
Noncurrent assets:
The Amalgamated Sugar Company LLC	$	250.0		250.0		—
Other		8.1		8.3		(.2	)
Total	$	258.1		258.3		(.2	)

All of our marketable securities are accounted for as available-for-sale, which are carried at fair value using quoted market prices, primarily Level 1 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures, except for our investment in The Amalgamated Sugar Company LLC (“Amalgamated”). Our investment in Amalgamated is measured using significant unobservable inputs, which are Level 3 inputs. Please refer to Note 6 in our 2017 Annual Report for a complete description of the valuation methodology for our investment in Amalgamated. There have been no changes to the carrying value of this investment during the periods presented. See Note 18. Our other marketable securities, which consist of marketable equity and debt securities, are not material.