Cash and Investments

Cash and equivalents and the fair values of available-for-sale investments, which approximated amortized costs, were as follows:



As of	June 2, 2016								September 3, 2015
	Cash and Equivalents		Short-term Investments		Long-term Marketable Investments⁽³⁾		Total Fair Value		Cash and Equivalents		Short-term Investments		Long-term Marketable Investments⁽³⁾		Total Fair Value
Cash	$	2,067	$	—	$	—	$	2,067	$	1,684	$	—	$	—	$	1,684
Level 1⁽¹⁾
Money market funds	2,255		—		—		2,255		168		—		—		168
Level 2⁽²⁾
Corporate bonds	—		245		393		638		2		616		1,261		1,879
Certificates of deposit	298		6		3		307		311		28		23		362
Asset-backed securities	—		5		186		191		—		8		575		583
Government securities	5		88		89		182		58		391		254		703
Commercial paper	2		10		—		12		64		191		—		255
	$	4,627	$	354	$	671	$	5,652	$	2,287	$	1,234	$	2,113	$	5,634


⁽¹⁾	The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets.

⁽²⁾

The fair value of Level 2 securities is measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. No adjustments were made to such pricing information as of June 2, 2016.


⁽³⁾	The maturities of long-term marketable investments range from one to four years.

Proceeds from sales of available-for-sale securities were $902 million and $1.89 billion for the third quarter and first nine months of 2016, respectively, and $562 million and $938 million for the third quarter and first nine months of 2015, respectively. Gross realized gains and losses from sales of available-for-sale securities were not significant for any period presented. As of June 2, 2016, there were no available-for-sale securities that had been in a loss position for longer than 12 months.