content_image/1037904.jpg content_image/1037907.jpg
Gains and losses on investments, including equity method earnings from limited partnerships, for the years ended December 31 are summarized below: 

<img src='content_image/1037904.jpg'>

(1) Effective January 1, 2018, the Company adopted ASU 2016-01 and equity securities are no longer classified as available-for-sale. Prior periods have not been restated to conform to the current presentation. See Note A – Summary of Significant Accounting Policies — Recently Adopted Accounting Pronouncements for further discussion. 

(2) During 2018, the Company sold $149,195 in equity securities, resulting in a gain on sale of $51,900. The majority of these gains were included in unrealized gains within other comprehensive income (loss) at December 31, 2017 and, as a result of the adoption of ASU 2016-01, were reclassified to retained earnings as of January 1, 2018 and were therefore not recognized in the consolidated statements of operations for the year ended December 31, 2018. 

Gain and loss activity for fixed income and equity security investments, as shown in the previous table, includes adjustments for other-than- temporary impairment for the years ended December 31 summarized as follows: 

<img src='content_image/1037907.jpg'>

There is no primary market and only a limited secondary market for the Company's investments in limited partnerships and, in most cases, the Company is prohibited from disposing of its limited partnership interests for some period of time and generally must seek approval from the applicable general partner for any such disposal. Distributions of earnings from these partnerships are largely at the sole discretion of the general partners and distributions are generally not received by the Company for many years after the earnings have been reported. The Company has a commitment to contribute up to an additional $1,317 to a limited partnership as of December 31, 2018. 

