Investment and other gains (losses). Income from investments and gross realized investment and other gains and losses for the years ended December 31 are detailed below:



	2018		2017		2016
	($000 omitted)
Investment income:
Debt securities	17,431		17,222		16,476
Short-term investments, cash equivalents and other	2,306		1,710		2,449
	19,737		18,932		18,925
Investment and other gains (losses) – net:
Realized gains	2,698		4,997		9,882
Realized losses	(483	)	(2,790	)	(10,548	)
Net unrealized investment losses recognized on equity securities still held	(2,162	)	—		—
	53		2,207		(666	)

In 2018, investments and other gains - net included $1.3 million of realized gains from sales of equity investments with no previously readily determinable fair values and $2.2 million of net unrealized investment losses on equity securities held at year-end.

In 2017, investment and other gains - net included $3.2 million of net realized gains from the sale of securities investments, partially offset by $0.8 million of net realized loss due to an increase in the fair value of a contingent consideration liability related to a prior acquisition.

In 2016, investment and other losses - net included $3.4 million of realized loss related to the exit of a service offering 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 securities investments and $1.2 million of realized gain related to an exchange transaction of an equity investment with previously no readily determinable fair value.

Following the adoption of ASU 2016-01, as discussed in Note 1-Q, net investment losses recognized in 2018 related to investments in equity securities still held as of December 31, 2018 are calculated as follows ($000 omitted):



Total net investment losses recognized on equity securities during the period	(2,538	)
Less: Net realized losses on equity securities sold during the period	(376	)
Net unrealized investment losses recognized on equity securities still held	(2,162	)

Proceeds from sales of investments in securities for the years ended December 31 are as follows:



	2018	2017	2016
	($000 omitted)
Proceeds from sales of debt securities	43,556	68,649	73,343
Proceeds from sales of equity securities	5,886	8,293	7,748
Total proceeds from sales of investments in securities	49,442	76,942	81,091