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Investments
12 Months Ended
Dec. 31, 2014
Investments [Abstract]  
Investments
Note 3.  Investments

The Company has three classifications of investments: investments carried at fair value, investments carried at cost, and equity method investments.  See Note 1 for definitions of each classification of investment.

At December 31, 2014 and 2013, investments carried at fair value consisted of:

  
2014
  
2013
 
  
(in thousands)
 
Taxable bond funds
 
$
10
  
$
10
 
Domestic equity funds
  
2,553
   
2,419
 
International equity funds
  
98
   
99
 
  
$
2,661
  
$
2,528
 

Investments carried at fair value were acquired under a rabbi trust arrangement related to the Company’s SERP.  The Company purchases investments in the trust to mirror the investment elections of participants in the SERP; gains and losses on the investments in the trust are reflected as increases or decreases in the liability owed to the participants.  The Company recorded unrealized losses of $51 thousand in 2014 and unrealized gains of $391 and $191 thousand during 2013 and 2012, respectively. There were no sales of investments during 2014. Sales of investments resulted in the recognition of $1 thousand of realized losses in 2013 and $66 thousand of realized gains in 2012.  Fair values for these investments are determined by quoted market prices (“level 1 fair values”) for the underlying mutual funds, which may be based upon net asset value.

At December 31, 2014 and 2013, other investments, comprised of equity securities which do not have readily determinable fair values, consist of the following:

  
2014
  
2013
 
Cost method:
 
(in thousands)
 
CoBank
 
$
3,749
  
$
3,343
 
Other – Equity in other telecommunications partners
  
755
   
766
 
   
4,504
   
4,109
 
Equity method:
        
Private equity partnerships
  
2,419
   
2,365
 
Other
  
505
   
330
 
   
2,924
   
2,695
 
Total other investments
 
$
7,428
  
$
6,804
 

The Company’s investment in CoBank increased $406 thousand and $375 thousand in the years ended December 31, 2014 and 2013, respectively, due to the ongoing patronage earned from the outstanding investment and loan balances the Company has with CoBank.

In the year ended December 31, 2014, the Company received distributions from its investments totaling $43 thousand in cash.  Equity method investments had a net gain of $259 thousand in the year ended December 31, 2014. The Company’s ownership interests in equity method investees were unchanged during 2014.