SHORT-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2017

SHORT-TERM INVESTMENTS

3. Short-Term Investments

Short-term investments included the following at December 31, 2017 and 2016:

	2017		2016
	(In thousands)
Investments in mutual funds at fair value	$	25,719	$	15,016
Term deposits with banks		782		6,598
Total	$	26,501	$	21,614

Information related to investments in mutual funds (primarily Indian Mutual Funds) is as follows at and for the years ended December 31, 2017, 2016 and 2015:

	2017		2016		2015
	(In thousands)
Cost	$	25,314	$	14,882	$	126,243
Unrealized gain, net		405		134		236
Fair value	$	25,719	$	15,016	$	126,479
Gross realized gains	$	1,494	$	5,790	$	18,796
Proceeds on sales of mutual funds		239,019		299,208		304,083
Purchases of mutual funds		246,660		184,692		221,097

Information related to investments in term deposits with banks included the following for the years ended December 31, 2017, 2016 and 2015:

	2017		2016		2015
	(In thousands)
Cost	$	782	$	6,598	$	413,566
Maturities of term deposits	$	7,644	$	621,824	$	486,651
Purchases of term deposits		1,616		223,904		446,768