Investments

6 Months Ended

Jun. 30, 2018

Investments [Abstract]

Investments

Investments

Other investments, comprised of equity securities which do not have readily determinable fair values, consist of the following:

(in thousands)	6/30/2018		12/31/2017
Cost method:
CoBank	$	7,258	$	6,818
Other – Equity in other telecommunications partners	781		811
	8,039		7,629
Equity method:
Other	574		564
	574		564
Total other investments	$	8,613	$	8,193

The CoBank investment is primarily related to patronage distributions of restricted equity and is a required investment related to the Credit Facility. Refer to Note 12, Long-Term Debt, for additional information.

The Company's investments carried at fair value consisted of:

(in thousands)	6/30/2018		12/31/2017
Domestic equity funds	$	2,933	$	2,856
International equity funds	403		423
	$	3,336	$	3,279

Investments carried at fair value were acquired under a rabbi trust arrangement related to the Company’s Supplemental Executive Retirement Plan (SERP).  The Company purchases investments in the trust to mirror the investment elections of participants in the SERP. The Company recorded net gains of $56 thousand and $68 thousand in the three months ended June 30, 2018 and June 30, 2017, respectively. The Company recorded net gains of $24 thousand and $187 thousand in the six months ended June 30, 2018 and June 30, 2017, respectively. Fair values for these investments are determined by quoted market prices (Level 2 fair values) for the underlying mutual funds, which may be based upon net asset value. Gains and losses on the investments in the trust are reflected as increases or decreases in the liability owed to the participants. The increases or decreases to the liability are recorded as pension expense included within "Non-operating income (loss), net" in the Company's consolidated statements of operations.