SHORT-TERM INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Summary of Short-term Investments

Short-term investments included the following at December 31, 2016 and 2015:

	2016		2015
	(In thousands)
Investments in mutual funds at fair value	$	15,016	$	126,479
Term deposits with banks		6,598		413,566
Total	$	21,614	$	540,045

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.

Description	As of December 31, 2016		As of December 31, 2015		As of December 31, 2014
	(In thousands)
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, 2016, 2015 and 2014:

	2016		2015		2014
	(In thousands)
Cost	$	6,598	$	413,566	$	466,625
Maturities of term deposits	$	621,824	$	486,651	$	445,717
Purchases of term deposits		223,904		446,768		583,341

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, 2016, 2015 and 2014:

	2016		2015		2014
	(In thousands)
Cost	$	14,882	$	126,243	$	180,143
Unrealized gain, net		134		236		6,699
Fair value	$	15,016	$	126,479	$	186,842
Gross realized gains	$	5,790	$	18,796	$	14,619
Proceeds on sales of mutual funds		299,208		304,083		305,298
Purchases of mutual funds		184,692		221,097		349,791