Investments

Investments consisted of the following:



	As of December 31,
(in thousands)	2013		2012

Investments held at cost	$	11,724	$	15,242
Equity method investments	4,843		5,873
Total investments	$	16,567	$	21,115

Our investments do not trade in public markets, thus they do not have readily determinable fair values. We estimate the fair values of the investments to approximate their carrying values at December 31, 2013 and 2012. There can be no assurance we would realize the carrying values of these securities upon their sale.