Investments in Debt and Equity Securities

9 Months Ended

Sep. 30, 2019

Investments in Debt and Equity Securities

Investments in Debt and Equity Securities

(D)     Investments in Debt and Equity Securities.  Investment securities we hold are recorded at fair value in the accompanying consolidated balance sheets. We apply regulated operations accounting to the unrealized gains and losses of all investment securities. All realized and unrealized gains and losses are determined using the specific identification method. At September 30, 2019, investments with a fair value of $22,298,000 were in an unrealized loss position for greater than one year and represented approximately 78% of our gross unrealized losses, while investments with a fair value of $35,640,000 were in an unrealized loss position for less than one year. At December 31, 2018, investments with a fair value of $49,975,000 were in an unrealized loss position for greater than one year and represented approximately 59% of our gross unrealized losses, while investments with a fair value of $148,638,000 were in an unrealized loss position for less than one year.

The following tables summarize debt and equity securities as of September 30, 2019 and December 31, 2018.

	Gross Unrealized
	(dollars in thousands)
							Fair
September 30, 2019	Cost		Gains		Losses		Value
Equity	$	256,835	$	114,881	$	(7,298)	$	364,418
Debt		309,021		10,185		(563)		318,643
Other		8,198		—		—		8,198
Total	$	574,054	$	125,066	$	(7,861)	$	691,259

	Gross Unrealized
	(dollars in thousands)
							Fair
December 31, 2018	Cost		Gains		Losses		Value
Equity	$	251,226	$	64,954	$	(9,105)	$	307,075
Debt		278,030		1,718		(4,955)		274,793
Other		3,075		—		—		3,075
Total	$	532,331	$	66,672	$	(14,060)	$	584,943