5. Other Assets

Other assets consist of the following (in thousands):
	March 31,
	2016		2015
Marketable equity securities	$	1,749	$	1,737
Auction rate preferred securities		350		350
Long-term equity method investments		10,977		11,041
Other items		686		576
Total	$	13,762	$	13,704

In fiscal 2016 and 2015, based on evaluation of available evidence we concluded that certain marketable equity securities had impairment other than temporary. As a result, we realized an impairment loss totaling $454,000 and $1.9 million in each fiscal year, respectively. Available-for-sale investment securities have been stated at their fair value as of March 31, 2016 and include an unrealized loss, net of tax benefits, of $82,000 at March 31, 2016, and an unrealized gain, net of taxes, of $7,000 at March 31, 2015.

On December 12, 2014, we acquired 24.3% of the outstanding common shares of ATEC for a purchase price of $5.9 million. ATEC is a supplier located in the Philippines that provides assembly and test services and the acquisition is part of a vertical integration strategy. The investment is accounted for by the equity method and is included in “Other assets” on our audited consolidated balance sheet.

The investment was initially recorded at cost. Subsequent periodic adjustments to cost are made to record our share in the operating results of ATEC subsequent cash contributions and distributions and our share of the differences between the fair value and carrying cost of assets acquired and liabilities assumed. In fiscal 2016 and 2015, we recognized losses of $9,000 and $140,000, respectively, on our investment in ATEC.

We incurred approximately $14,000 in legal and consulting expense for the transaction. The costs incurred were expensed and included in SG&A

expenses on our audited consolidated statements of operations.

Available-for-sale investments as of March 31, 2016 and 2015 were as follows (in thousands):

	Fiscal Year 2016									Fiscal Year 2015
	Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value

Marketable equity securities	$	1,875	$	46	$	(172	)	$	1,749	$	1,726	$	53	$	(42	)	$	1,737
Auction rate preferred securities	$	350	$	-	$	-		$	350	$	350	$	-	$	-		$	350

The available-for-sale investments that were in a continuous unrealized loss position as of March 31, 2016 and March 31, 2015, aggregated by length of time that individual securities have been in a continuous loss position, were as follows (in thousands):

	Less than 12 Months				12 Months or Greater				Total
Period	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2016	$	29	$	581	$	143	$	932	$	172	$	1,513
March 31, 2015	$	27	$	243	$	15	$	43	$	42	$	286

Gross unrealized losses on our available-for-sale portfolio were immaterial to the consolidated balance sheets at March 31, 2016 and March 31, 2015.

During fiscal 2016, we recognized approximately a loss of $1,000 on the sale of available-for-sale investment securities. In respect of those securities, there was no unrealized amount

included in accumulated other comprehensive income as of March 31, 2015.

Our equity method investments constitute investments accounted for under the equity method of accounting. See Note 2, “Summary of Significant Accounting Policies” and Note 13, “Related Party Transactions” for further information on these investments.