Equity method for stock investment OBJ. 3 Hawkeye Company’s balance sheet reported, under the equity method, its long-term investment in Raven Company for comparative years as follows:

Dec. 31, 2017 Dec. 31, 2016 Investment in Raven Company stock (in millions) $281 $264 In addition, the 2017 Hawkeye Company income statement disclosed equity earnings in the Raven Company investment as $25 million. Hawkeye Company neither purchased nor sold Raven Company stock during 2017. The fair value of the Raven Company stock investment on December 31, 2017, was $310 million.

Explain the change in Investment in Raven Company Stock from December 31, 2016, to December 31, 2017.