Available-for-Sale Securities.

The 2015 annual report of Pfizer, Inc. (PFE) reveals that the company maintains a significant investment in short-term investments:

(in millions)20152014Short-term investments$ 21,093$ 34,223

During 2015, the company sold short-term investments (net sales of short-term investments) totaling $6,212 million.

Did the company's portfolio of short-term investments experience a gain or a loss during 2015, and in what amount?

Do not use negative signs with your answers. Enter answers in millions.

AmountGain or Loss2015$Answer

Answer

Gain

Loss

Assuming all of Pfizer's short-term investments are classified as available-for-sale securities, how did the company account for the gain or loss in 2015?

The gain/loss was reported as part of AOCI within the shareholders' equity section on Pfizer's 2015 balance sheet.

The gain/loss was reported on Pfizer's 2015 income statement as part of other income/expense.

Was the gain (loss) taxable (tax deductible) in 2015?

The gain/loss was taxable (tax deductible).

The gain/loss was nontaxable.