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 investment income and are determined using the specific identification method. There were no realized gains from the sale of securities and proceeds from the sale of available-for-sale securities for the three and six months ended June 30, 2017 and 2016.

The Company has certain 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 (Suzhou) Financial Technology Service Co. Ltd. (Inspur JV) and 43.6 percent of Aisino-Wincor Retail & Banking Systems (Shanghai) Co., Ltd. (Aisino JV). 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. In May 2017, the Company announced a strategic partnership with Kony Inc. (Kony), which is located in Texas, a leading enterprise mobility and application company, to offer white label mobile application solutions for financial institutions and retailers. The Company acquired a minority equity stake in Kony, which is accounted for using the cost method of accounting.

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



	Cost Basis		Unrealized Gain		Fair Value
As of June 30, 2017
Short-term investments
Certificates of deposit	$	76.9	$	—	$	76.9
Long-term investments
Assets held in a rabbi trust	$	7.8	$	1.1	$	8.9

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

Securities and other investments also includes a cash surrender value of insurance contracts of $78.5 and $77.8 as of June 30, 2017 and December 31, 2016, respectively. In addition, securities and other investments includes an interest rate swap asset carrying value of $6.3 and $8.4 as of June 30, 2017 and December 31, 2016, respectively, which also represents fair value (refer to note 18).