Short Term Investments

3 Months Ended

Jun. 28, 2019

Investments, Debt and Equity Securities [Abstract]

Investments

INVESTMENTS

Our short-term investments include corporate bonds and commercial paper and are classified as available-for-sale and are summarized in the tables below (in thousands):

	July 3, 2020
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Aggregate Fair Value
Corporate bonds	$	30,097	$	354	$	(179)	$	30,272
Commercial paper	102,749		247		(20)		102,976
Total short-term investments	$	132,846	$	601	$	(199)	$	133,248

	September 27, 2019
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses		Aggregate Fair Value
Corporate bonds	$	29,578	$	112	$	(93)	$	29,597
Commercial paper	71,646		1		(18)		71,629
Total short-term investments	$	101,224	$	113	$	(111)	$	101,226

The contractual maturities of available-for-sale investments were as follows (in thousands):

	July 3, 2020		September 27, 2019
Less than 1 year	$	109,156	$	75,233
Over 1 year	24,092		25,993
Total short-term investments	$	133,248	$	101,226

Available-for-sale investments are reported at fair value and as such, their associated unrealized gains and losses are reported as a separate component of stockholders’ equity within accumulated other comprehensive income.

Other Investments — As of July 3, 2020, we held two non-marketable equity investments classified as other long-term investments, which includes an investment in a Series B preferred stock ownership of a privately held manufacturing corporation with preferred liquidation rights over other equity shares. As the equity securities do not have a readily determinable fair value and do not qualify for the practical expedient under ASC 820, Fair Value Measurement, we have elected to account for this investment at cost less any impairment. As of July 3, 2020, the cost of this investment was $5.0 million. We evaluate this investment for impairment at each balance sheet date, and through July 3, 2020, no impairment has been recorded for this investment.Also included in long-term investments, is a minority investment of less than 20% in the outstanding equity of a private company (“Compute”) that was acquired in conjunction with our divestiture of the Compute business during our fiscal year 2018. This investment value is updated quarterly based on our proportionate share of the losses or earnings, as well as any changes in Compute's equity, utilizing the equity method. During the three and nine months ended July 3, 2020, we recorded losses of $4.6 million and $13.6 million, respectively, associated with this investment as other expense in our condensed consolidated statements of operations. During the three and nine months ended June 28, 2019, we recorded income of $5.0 million and losses of $3.9 million, respectively, associated with this investment. As of July 3, 2020 and September 27, 2019, the carrying value of this investment was $5.0 million and $18.6 million, respectively.