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Investments
3 Months Ended
Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Investments

9. Investments

Investments in publicly traded equity securities (which include equity interests of less than 20%) are classified as available-for-sale securities. These investments are carried at fair value using quoted market prices and are included in other current assets in the Company’s Consolidated Balance Sheets. Unrealized gains and losses, net of tax, are included in the determination of comprehensive income and reported in shareholders’ equity.

During the three months ended March 31, 2014, available-for-sale securities were sold for total proceeds of $241,000. The gross realized gains on these sales totaled $106,000 ($66,000 net of tax). For purpose of determining gross realized gains, the cost of securities sold is based on the first in, first out (FIFO) method. Gross unrealized holding losses on available-for-sale securities for the three months ended March 31, 2014 were $205,000 ($130,000 net of tax), and have been included in accumulated other comprehensive income. The Company had no available-for-sale securities as of March 31, 2015 and December 31, 2014.