Marketable Securities

The Company has investments in available-for-sale marketable securities which are recorded at fair market value. Unrealized gains and losses are recorded as other comprehensive income (loss) in shareholders’ equity, net of income tax effects.

The following tables show the Company’s available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category as of December 31, 2017 and 2016, respectively:



	2017
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value

Equity securities	$	443	$	31	$	(6	)	$	468
Money market funds	44,525		—		(44		)	44,481
Corporate bonds	9,285		1		(24		)	9,262
Government securities - U.S.	19,080		—		(30		)	19,050
Other fixed-income securities	4,259		—		(9		)	4,250
Total	$	77,592	$	32	$	(113	)	$	77,511



	2016
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value

Equity securities	$	3,689	$	409	$	(65	)	$	4,033
Corporate bonds	57,871		89		(612		)	57,348
Government securities - U.S.	43,049		515		(750		)	42,814
Government securities - Non-U.S.	247		—		(14		)	233
Other fixed-income securities	10,281		221		(31		)	10,471
Other securities	81		—		—			81
Total	$	115,218	$	1,234	$	(1,472	)	$	114,980

We determine realized gains or losses on the sale of marketable securities on a specific identification method. We recognized gross realized gains of $1,677, $1,265, and $241 for the twelve months ended December 31, 2017, 2016, and 2015, respectively. These realized gains were offset by realized losses of $1,390, $586, and $677 for the twelve-months ended December 31, 2017, 2016, and 2015, respectively. We reflect these gains and losses as a component of investment income in the accompanying consolidated statements of income (loss).

The following table summarizes the estimated fair value of our investments in marketable debt securities, accounted for as available-for-sale securities and classified by the contractual maturity date of the securities as of December 31, 2017:



	Maturities
Marketable Debt Securities:	Less than 1 Year		1-5 Years		5-10 Years		Greater than 10 Years		Total

Corporate bonds	1,033		6,826		1,403		—		9,262
Government securities - U.S.	50		17,509		977		514		19,050
Other fixed-income securities	—		4,250		—		—		4,250
Total	$	1,083	$	28,585	$	2,380	$	514	$	32,562

The Company has classified our investment in available-for-sale marketable securities as current assets in the consolidated balance sheets as the securities need to be available for use, if required, to fund current operations. There are no restrictions on the sale of any securities in our investment portfolio.