Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Vernon Plack – BB&T Capital Markets.
Vernon Plack – BB&T Capital Markets
I'm just trying to understand the reversal line. Am I to assume it's correct that you had $7 million in the second quarter related to dividend income that you also recognized in the second quarter so does that $7 million also show up in the interest and dividend income line?
Penni Roll
It does. It's very similar to the way we realize gains or losses when the dividend income in realized it's included in the dividend income in the income statement and then any related unrealized appreciation that we had related to that would be reversed out through the unrealized line.
Vernon Plack – BB&T Capital Markets
Is that the result of income that's not being recognized?
Penni Roll
It's a result of when generally speaking, for dividend income recognition into our financial statement, we recognize it when the dividend is declared and paid by the portfolio company. Prior to that declaration of payment, we will consider it in the valuation of our related security that has that dividend paying capacity to it, so therefore it may be included in the value of our investment, but once it's distributed out, we would have an adjustment to the remaining value of the company because we've now recorded that dividend income to us.
Vernon Plack – BB&T Capital Markets
I don't know if there's any other detail or color you could give us on your operating thought in terms of perhaps additional reduction to head count. Just curious in terms of you've made a lot of moves here the past 12 months, should we expect material changes the way you're set up as a company going forward?
John Scheurer
As I said in the conference call script, we are evaluating further cost savings of all types and we'll probably have some announcements about those kinds of things at some point in the not too distant future.
Operator
Your next question comes from Greg Mason – Stifel Nicolaus.
Greg Mason – Stifel Nicolaus
Could you just provide a little bit of color on the asset sales, maybe what percent is as versus senior and maybe what the carrying cost of those type of assets are being sold, where they're being carried?
Penni Roll
If you look at where we are, we pulled a combination of both debt and equity securities and I don't have the statistics right off the top of my head, but it's been more debt securities than equity securities as they come through, probably about 90% debt if you look at year to date sales for both the first and second quarter.
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