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Investments in Available-for-Sale Securities
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| Investments in Available-for-Sale Securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments in Available-for-Sale Securities |
(4) Investments in Available-for-Sale Securities All marketable equity and debt securities held by the Company are classified as available-for-sale (“AFS”) and are carried at fair value generally based on quoted market prices. GAAP permits entities to choose to measure many financial instruments, such as AFS securities, and certain other items at fair value and to recognize the changes in fair value of such instruments in the entity’s statements of operations. The Company has elected to account for those of its AFS securities which it considers to be nonstrategic (“Fair Value Option Securities”) at fair value. Accordingly, changes in the fair value of Fair Value Option Securities, as determined by quoted market prices, are reported in realized and unrealized gains (losses) on financial instruments in the accompanying condensed combined statements of operations. Investments in AFS securities, including our interest in Time Warner Cable, Inc. which is our only Fair Value Option Security, are summarized as follows:
Unrealized Holding Gains and Losses As of September 30, 2014 and December 31, 2013, the gross unrealized holding gains related to investment in AFS securities were $1.2 million and $5.9 million, respectively. There were no gross unrealized holding losses related to investment in AFS securities for the periods presented.
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