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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
At December 31, 2012 , current available-for-sale marketable securities are as follows:
The net unrealized gains in the tables above are included in "Accumulated other comprehensive loss" in the accompanying consolidated
balance sheet.
The following table presents the proceeds from maturities and sales of current and non-current available-for-sale marketable securities and
the related gross realized gains and losses:
Gross realized gains and losses from the maturities and sales of available-for-sale marketable securities are included in "Other income
(expense), net" in the accompanying consolidated statement of operations.
NOTE 8—LONG-TERM INVESTMENTS
The balance of long-term investments is comprised of:
Cost method investments
In the third quarter of 2011, the Company acquired a 20% interest in the voting common stock of Zhenai Inc. ("Zhenai"), a leading
provider of online matchmaking services in China. Our voting power is limited by a shareholders agreement. In light of this limitation and the
significance of our interest relative to other shareholders, we do not have the ability to exercise significant influence over the operating and
financial matters of Zhenai and this investment is accounted for as a cost method investment.
In the fourth quarter of 2013, the Company recorded a $5.0 million write-down of a cost method investment to fair value. The decline in
the Company's assessment of these factors. The Company estimated the fair value of this investment using a multiple of revenue approach.
65
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
(In thousands)
Corporate debt securities
$
13,608
$
19
$
—
$
13,627
Total debt securities
13,608
19
—
13,627
Equity security
—
6,977
—
6,977
Total marketable securities
$
13,608
$
6,996
$
—
$
20,604
December 31,
2013
2012
2011
(In thousands)
Proceeds from maturities and sales of available-for-sale marketable securities
$
82,160
$
205,944
$
600,149
Gross realized gains
35,692
4,075
2,482
Gross realized losses
—
(
5
)
(41
)
December 31,
2013
2012
(In thousands)
Cost method investments
$
137,286
$
113,830
Equity method investments
22,073
8,104
Long-term marketable equity securities
11,711
31,244
Auction rate security
8,920
8,100
Total long-term investments
$
179,990
$
161,278