Net investment income is shown below (in thousands):



	Years ended December 31,
	2018			2017		2016
Bonds	$	566,513		$	541,772	$	551,849
Dividends on equity securities	39,193			38,730		38,680
Mortgage loans	258,102			245,116		211,972
Real estate	13,533			12,672		6,743
Options	(54,951		)	91,055		28,869
Other invested assets	35,977			36,732		22,122
Total	$	858,367		$	966,077	$	860,235

Net realized investment gains (losses) are shown below (in thousands):



	Years ended December 31,
	2018			2017			2016
Bonds	$	10,903		$	27,061		$	16,705
Equity securities*	—			56,528			33,348
Mortgage loans	(4,798		)	(7,700		)	405
Real estate	12,076			28,853			2,188
Other invested assets	(7		)	(147		)	(6,039		)
Total	$	18,174		$	104,595		$	46,607

Other-than-temporary impairment losses are shown below (in thousands):



	Years ended December 31,
	2018			2017			2016
Bonds	$	(1,243	)	$	(6,416	)	$	(94	)
Equity securities*	—			(6,970		)	(17,573		)
Total	$	(1,243	)	$	(13,386	)	$	(17,667	)

*Effective January 1, 2018, the Company adopted ASU No. 2016-01. As a result, equity securities are no longer classified as available-for-sale with unrealized gains and losses recognized in other comprehensive income; rather, all changes in the fair value of equity securities are now recognized in earnings. Since changes in fair value are recognized in earnings each reporting period, OTTI is no longer recognized on equity securities in a loss position. Prior periods have not been restated to conform to the current presentation. See note 3, Recently Issued Accounting Pronouncements.