Investment income. Income from investments and gross realized investment and other gains and losses follow:



	2014		2013		2012
	($000 omitted)
Investment income:
Debt securities	14,593		13,387		12,399
Short-term investments, cash equivalents and other	2,213		2,105		1,410
	16,806		15,492		13,809
Investment and other gains (losses):
Realized gains	12,018		7,555		9,417
Realized losses	(5,274	)	(8,621	)	(1,839	)
	6,744		(1,066	)	7,578

Proceeds from the sales of investments available-for-sale were $58.1 million, $82.0 million and $134.8 million for the years ended December 31, 2014, 2013 and 2012, respectively. Expenses assignable to investment income were insignificant. There were no significant investments at December 31, 2014 that did not produce income during the year.

In 2014, investment and other gains (losses) – 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, $1.6 million relating to the impairment of an intangible asset and $1.0 million relating to the impairment of a cost-basis investment.

In 2013, investment and other (losses) gains – net included a $5.4 million non-cash charge relating to the early retirement of $37.8 million of Notes, a $1.5 million loss on the sale of an equity investment and $1.0 million for the impairment of cost-basis investments offset by realized gains of $2.7 million from the sale of debt and equity investments available-for-sale, $2.3 million from non-title-related insurance policy proceeds and $1.9 million from the sale of real estate.

In 2012, investment and other gains (losses) – net included realized gains of $8.0 million from the sale of debt and equity investments available-for-sale and sale of fixed assets, partially offset by realized losses of $0.8 million for the impairment of cost-basis investments.