Investments

Investments consist of the following:



	September 30, 2017		October 1, 2016
Investments, equity basis ⁽¹⁾	$	3,087	$	4,082
Investments, other	115		198
	$	3,202	$	4,280


⁽¹⁾	Prior to September 25, 2017, BAMTech was accounted for under the equity basis of accounting. At September 25, 2017, the Company acquired an additional interest and now consolidates BAMTech (see Note 3 for further discussion of the BAMTech transaction). Accordingly, equity basis investments decreased by approximately $1 billion.

Investments, Equity Basis

The Company’s significant equity investments primarily consist of media and parks and resorts investments and include A + E (50% ownership), CTV Specialty Television, Inc. (30% ownership), Hulu (30% ownership), Seven TV (20% ownership), Vice (19% effective ownership including A+E ownership) and Villages Nature (50% ownership). A summary of combined financial information for equity investments is as follows:



Results of Operations:	2017		2016		2015
Results of Operations:
Revenues	$	8,122	$	7,416	$	6,561
Net income	857		1,855		1,912



Balance Sheet	September 30, 2017		October 1, 2016		October 3, 2015
Balance Sheet
Current assets	$	4,623	$	4,801	$	3,676
Non-current assets	10,047		8,906		6,429
	$	14,670	$	13,707	$	10,105
Current liabilities	$	2,852	$	2,018	$	1,614
Non-current liabilities	5,056		4,531		4,128
Redeemable preferred stock	1,123		583		—
Shareholders’ equity	5,639		6,575		4,363
	$	14,670	$	13,707	$	10,105

As of September 30, 2017, the book value of the Company’s equity method investments exceeded our share of the book value of the investees’ underlying net assets by approximately $0.7 billion, which represents amortizable intangible assets and goodwill arising from acquisitions.

The Company enters into transactions in the ordinary course of business with our equity investees, primarily related to the licensing of television and film programming. Revenues from these transactions were $0.5 billion, $0.5 billion and $0.4 billion in fiscal 2017, 2016 and 2015, respectively. The Company defers a portion of its profits from transactions with investees until the investee recognizes third-party revenue from the exploitation of the rights. The portion that is deferred reflects our ownership interest in the investee.

Investments, Other

As of September 30, 2017 and October 1, 2016, the Company held $36 million and $85 million, respectively, of securities classified as available-for-sale and $79 million and $91 million, respectively, of non-publicly traded cost-method investments. As of September 30, 2017, the Company held no significant investments in leveraged leases. As of October 1, 2016, the Company held $22 million of investments in leveraged leases.

In fiscal 2017 and 2015, the Company had realized gains of $15 million and $31 million, respectively, on available-for-sale securities. In fiscal 2016, the Company had no significant realized gains or losses on available-for-sale securities.

At September 30, 2017 and October 1, 2016, the Company held available-for-sale investments in unrecognized gain positions totaling $18 million and $49 million, respectively, and no investments in significant unrecognized loss positions.

In fiscal years 2017, 2016 and 2015, the Company had realized gains of $7 million, $23 million and $11 million, respectively, on non-publicly traded cost-method investments.

In fiscal years 2017, 2016 and 2015, the Company recorded non-cash charges of $8 million, $44 million and $14 million, respectively, to reflect other-than-temporary losses in value of investments.

Realized gains and losses on available-for-sale and non-publicly traded cost-method investments are reported in “Interest expense, net” in the Consolidated Statements of Income.