Investments in Debt and Equity Securities

6 Months Ended

Jun. 30, 2015

Investments in Debt and Equity Securities

Investments in Debt and Equity Securities

(D)           Investments in Debt and Equity Securities.    Investment securities we hold are classified as available-for-sale. Available-for-sale securities are carried at market value with unrealized gains and losses, net of any tax effect, added to or deducted from other comprehensive margin, except that, in accordance with our rate-making treatment, unrealized gains and losses from investment securities held in the nuclear decommissioning funds are directly added to or deducted from the regulatory asset for asset retirement obligations. Realized gains and losses on the nuclear decommissioning funds are also recorded to the regulatory asset. All realized and unrealized gains and losses are determined using the specific identification method. As of June 30, 2015, approximately 61% of these gross unrealized losses had been unrealized for a duration of less than one year.

The following tables summarize the activities for available-for-sale securities as of June 30, 2015 and December 31, 2014.

		Gross Unrealized
		(dollars in thousands)
June 30, 2015		Cost		Gains		Losses			Fair Value
Equity	$	225,613	$	45,528	$	(3,455	)	$	267,686
Debt		178,312		1,895		(2,328	)		177,879
Other		12,506		—		(2	)		12,504
Total	$	416,431	$	47,423	$	(5,785	)	$	458,069

		Gross Unrealized
		(dollars in thousands)
December 31, 2014		Cost		Gains		Losses			Fair Value
Equity	$	200,892	$	69,536	$	(2,163	)	$	268,265
Debt		168,182		9,981		(8,619	)		169,544
Other		13,927		—		(4	)		13,923
Total	$	383,001	$	79,517	$	(10,786	)	$	451,732