Annual report pursuant to Section 13 and 15(d)

INVESTMENTS

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INVESTMENTS
12 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS:

Equity and fixed income mutual funds are classified as trading securities and recorded at fair value.  The market value of these investments exceeded cost by $941 and $838 at September 30, 2019 and 2018, respectively. Realized and unrealized gains and losses are recorded in investment income.  Realized gains (losses) for fiscal 2019, 2018 and 2017 were not material.  Cost-method investments include ownership interests in various entities of less than 20%.

At September 30, 2019 and 2018, non-current investments were as follows:

 
2019
 
2018
Equity and fixed income mutual funds
$
22,986

 
$
22,758

Life insurance policies
4,030

 
5,894

Equity-method investments
39,761

 

Cost-method investments
18,724

 
16,778

 
$
85,501

 
$
45,430



During fiscal 2019, the Company completed the sale of a 51% ownership interest in a small Memorialization business. Immediately following the transaction, the Company retained a non-controlling interest in this business, which was accounted for as an equity-method investment. The Company made additional capital contributions to this non-consolidated subsidiary totaling $29,148 during fiscal 2019 and continued to account for this non-controlling interest as an equity method investment. Changes in cost-method investments during fiscal 2019 resulted from additional purchases of investments in the SGK Brand Solutions segment, partially offset by losses from certain investments in the SGK Brand Solutions and Memorialization segments.

During fiscal 2018, the Company purchased an $11,747 ownership interest in a company in the SGK Brand Solutions segment, which was recorded as a cost-method investment. In fiscal 2018, the Company also sold certain of its cost-method investments for net proceeds totaling $9,159. In connection with these dispositions, the Company recognized $3,771 of pre-tax gains within other income (deductions), net.