Investment income and other gains and losses. Income from investments and gross realized investment and other gains and losses are detailed below:



	2016		2015		2014
	($000 omitted)
Investment income:
Debt securities	16,476		15,181		14,593
Short-term investments, cash equivalents and other	2,449		1,669		2,213
	18,925		16,850		16,806
Investment and other (losses) gains – net:
Realized gains	9,882		5,948		12,018
Realized losses	(10,548	)	(7,317	)	(5,274	)
	(666	)	(1,369	)	6,744

Proceeds from the sales of investments available-for-sale were $81.1 million, $69.3 million and $58.1 million for the years ended December 31, 2016, 2015 and 2014, respectively. Expenses assignable to investment income were insignificant and there were no significant investments that did not produce income for all years presented.

In 2016, investment and other losses - net included $3.4 million of office closure and early lease termination costs and $3.3 million of realized losses from sale of certain businesses within ancillary services operations, partially offset by $4.0 million of net realized gains from the sale of investments available-for-sale, $1.2 million of realized gain on a cost-basis investment transaction and $0.4 million of realized gain from sale of certain title offices.

In 2015, investment and other losses – net included realized losses of $2.7 million relating to other-than-temporary impairment of investment in equity securities available-for-sale, $1.8 million impairment of other intangible assets and $1.4 million relating to office closure costs, partially offset by realized gains of $2.4 million from the sale of debt and equity investments available-for-sale and $1.5 million from the sale of office buildings.

In 2014, investment and other gains – net included realized gains of $5.6 million from the reduction in the fair value of a contingent consideration liability, $3.8 million from the sale of a business and $1.1 million from the sale of debt and equity investments available-for-sale, partially offset by charges of $1.9 million relating to office closure costs, $1.7 million impairment of an other intangible asset and $1.0 million relating to the impairment of a cost-basis investment.