SHORT-TERM INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Short-term Investments

Short-term investments included the following at December 31, 2015 and 2014:

	2015		2014
	(In thousands)
Investments in mutual funds at fair value	$	126,479	$	186,842
Term deposits with banks		413,566		466,625
Fixed Maturity Plans (FMPs) of mutual funds, at cost		—		15,886
Total	$	540,045	$	669,353

Investments in Held-to-Maturity Securities

Investments in held-to-maturity securities of the Company consist of investments in the units of FMPs of mutual funds in Indian subsidiaries.

	As of December 31, 2015		As of December 31, 2014		As of December 31, 2013
	(In thousands)
Description
Aggregate fair value of the investment	$	—		16,612	$	—
Less: Gross unrecognized holding gain		—		726		—
Net carrying amount	$	—		15,886	$	—

Schedule of Investments in Term Deposits

Information related to investments in term deposits with banks included the following for the years ended December 31, 2015, 2014 and 2013:

	2015		2014		2013
	(In thousands)
Cost	$	413,566	$	466,625	$	340,349
Maturities of term deposits	$	486,651	$	445,717	$	288,719
Purchases of term deposits		446,768		583,341		395,589

Mutual Funds

Schedule of Investments in Mutual Funds

Information related to investments in mutual funds (primarily Indian Mutual Funds) is as follows at and for the years ended December 31, 2015, 2014 and 2013:

	2015		2014		2013
	(In thousands)
Cost	$	126,243	$	180,143	$	144,353
Unrealized gain, net		236		6,699		5,475
Fair value	$	126,479	$	186,842	$	149,828
Gross realized gains	$	18,796	$	14,619	$	3,600
Proceeds on sales of mutual funds		304,083		305,298		200,836
Purchases of mutual funds		221,097		349,791		294,010