Available-for-sale Investments

Available-for-sale investments at April 1, 2017 were as follows:



(In thousands)	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value

Cash equivalents:
Money market funds	$	94,689	$	—	$	—		$	94,689
Time deposits	8,067		—		—			8,067
Commercial paper	44,800		—		—			44,800
Government and corporate bonds	500		—		—			500
Total cash equivalents	148,056		—		—			148,056

Short-term investments:
Time deposits	29,538		—		—			29,538
Commercial paper	23,175		—		(35		)	23,140
Government and corporate bonds	100,892		7		(119		)	100,780
Total short-term investments	153,605		7		(154		)	153,458

Long-term investments:
Government and corporate bonds	65,472		—		(217		)	65,255

Total available-for-sale investments	$	367,133	$	7	$	(371	)	$	366,769

Available-for-sale investments at December 31, 2016 were as follows:



(In thousands)	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value

Cash equivalents:
Money market funds	$	23,110	$	—	$	—		$	23,110
Time deposits	11,477		—		—			11,477
Total cash equivalents	34,587		—		—			34,587

Short-term investments:
Time deposits	40,639		—		—			40,639
Commercial paper	22,325		—		(24		)	22,301
Government and corporate bonds	122,729		3		(84		)	122,648
Total short-term investments	185,693		3		(108		)	185,588

Long-term investments:
Government and corporate bonds	95,806		—		(438		)	95,368

Total available-for-sale investments	$	316,086	$	3	$	(546	)	$	315,543

We sold available-for-sale investments for proceeds of $20 million during both the three months ended April 1, 2017 and April 2, 2016, resulting in insignificant gains or losses.