4.	Investments

Investments were as follows as of March 31, 2017 and December 31, 2016:

				Gross		Gross
				Unrealized		Unrealized			Fair		Carrying
Description	Designation	Cost		Gains		Losses			Value		Value
		(in thousands)
March 31, 2017
Nuclear decommissioning trust ⁽¹⁾
Debt securities	Available for sale	$	44,349	$	3,924	$	—		$	48,273	$	48,273
Equity securities	Available for sale		76,590		40,950		—			117,540		117,540
Cash and other	Available for sale		468		—		—			468		468
Total Nuclear Decommissioning Trust		$	121,407	$	44,874	$	—		$	166,281	$	166,281

Lease Deposits ⁽²⁾
Government obligations	Held to maturity	$	105,265	$	2,498	$	—		$	107,763	$	105,265
Total Lease Deposits		$	105,265	$	2,498	$	—		$	107,763	$	105,265

Unrestricted investments
Government obligations	Held to maturity	$	2,338	$	—	$	(4	)	$	2,334	$	2,338
Debt securities	Held to maturity		2,395		4		—			2,399		2,395
Total Unrestricted Investments		$	4,733	$	4	$	(4	)	$	4,733	$	4,733

Other
Equity securities	Trading	$	198	$	59	$	—		$	257	$	257
Non-marketable equity investments	Equity		2,171		2,036		—			4,207		2,171
Total Other		$	2,369	$	2,095	$	—		$	4,464	$	2,428
											$	278,707
December 31, 2016
Nuclear decommissioning trust ⁽¹⁾
Debt securities	Available for sale	$	44,086	$	3,537	$	—		$	47,623	$	47,623
Equity securities	Available for sale		75,332		35,958		(277	)		111,013		111,013
Cash and other	Available for sale		519		—		—			519		519
Total Nuclear Decommissioning Trust		$	119,937	$	39,495	$	(277	)	$	159,155	$	159,155

Lease Deposits ⁽²⁾
Government obligations	Held to maturity	$	104,514	$	2,948	$	—		$	107,462	$	104,514
Total Lease Deposits		$	104,514	$	2,948	$	—		$	107,462	$	104,514

Unrestricted investments
Government obligations	Held to maturity	$	2,000	$	1	$	—		$	2,001	$	2,000
Debt securities	Held to maturity		2,210		6		—			2,216		2,210
Total Unrestricted Investments		$	4,210	$	7	$	—		$	4,217	$	4,210

Other
Equity securities	Trading	$	198	$	49	$	—		$	247	$	247
Non-marketable equity investments	Equity		2,142		2,012		—			4,154		2,142
Total Other		$	2,340	$	2,061	$	—		$	4,401	$	2,389
											$	270,268

⁽¹⁾

Investments in the nuclear decommissioning trust are restricted for the use of funding our share of the asset retirement obligations of the future decommissioning of North Anna. See Note 3 of the Notes to Consolidated Financial Statements in our 2016 Annual Report on Form 10-K. Unrealized gains and losses related to assets held in the nuclear decommissioning trust are deferred as a regulatory asset or liability, respectively.

⁽²⁾

Investments in lease deposits are restricted for the use of funding our future lease obligations. See Note 8 of the Notes to Consolidated Financial Statements in our 2016 Annual Report on Form 10-K.

Our investments by classification as of March 31, 2017 and December 31, 2016, were as follows:

	March 31, 2017				December 31, 2016
			Carrying				Carrying
Description	Cost		Value		Cost		Value
	(in thousands)				(in thousands)
Available for sale	$	121,407	$	166,281	$	119,937	$	159,155
Held to maturity		109,998		109,998		108,724		108,724
Equity		2,171		2,171		2,142		2,142
Trading		198		257		198		247
Total	$	233,774	$	278,707	$	231,001	$	270,268

Contractual maturities of debt securities as of March 31, 2017, were as follows:

	Less than						More than
Description	1 year		1-5 years		5-10 years		10 years		Total
	(in thousands)
Available for sale ⁽¹⁾	$	—	$	—	$	48,273	$	—	$	48,273
Held to maturity		11,684		98,314		—		—		109,998
Total	$	11,684	$	98,314	$	48,273	$	—	$	158,271

⁽¹⁾

The contractual maturities of available for sale debt securities are measured using the effective duration of the bond fund within the nuclear decommissioning trust.