INVESTMENTS

The Company’s investments, primarily in Brazil, consist of certificates of deposit that are classified as available-for-sale and stated at fair value based upon quoted market prices. Unrealized gains and losses are recorded in AOCI. Realized gains and losses are recognized in interest income and are determined using the specific identification method. There were no realized gains from the sale of securities or proceeds from the sale of available-for-sale securities for the years ended December 31, 2016 and 2015.

The Company has strategic alliances that are not consolidated. The Company tests these strategic alliances annually, individually and in aggregate, to determine materiality. The Company owns 40.0 percent of Inspur JV or Inspur Financial Technology Service Co., Ltd (Inspur) and 43.6 percent of Aisino-Wincor Retail & Banking Systems (Shanghai) Co.,Ltd; (Aisino). The Company engages in transactions in the ordinary course of business. The Company's strategic alliances were determined to be immaterial to the Company and were accounted for under the equity method of investments.

The Company has deferred compensation plans that enable certain employees to defer receipt of a portion of their cash, 401(k) or share-based compensation and non-employee directors to defer receipt of director fees at the participants’ discretion. For deferred cash-based compensation, the Company established rabbi trusts (refer to note 15), which are recorded at fair value of the underlying securities within securities and other investments. The related deferred compensation liability is recorded at fair value within other long-term liabilities. Realized and unrealized gains and losses on marketable securities in the rabbi trusts are recognized in interest income.

The Company’s investments, respectively, consist of the following:



	Cost Basis		Unrealized Gain		Fair Value
As of December 31, 2016
Short-term investments
Certificates of deposit	$	64.1	$	—	$	64.1
Long-term investments
Assets held in a rabbi trust	$	7.9	$	0.6	$	8.5

As of December 31, 2015
Short-term investments
Certificates of deposit	$	39.9	$	—	$	39.9
Long-term investments:
Assets held in a rabbi trust	$	9.3	$	—	$	9.3

Securities and other investments also includes a cash surrender value of insurance contracts of $77.8 and $75.9 as of December 31, 2016 and 2015, respectively. In addition, it includes an interest rate swap asset carrying value of $8.4 as of December 31, 2016, which also represents fair value (refer to note 19).