Available-for-sale Investments

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



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

Cash equivalents:
Money market funds	$	58,559	$	—	$	—		$	58,559
Time deposits	17,383		—		—			17,383
Commercial paper	96,200		—		—			96,200
Government and corporate bonds	8,000		—		—			8,000
Total cash equivalents	180,142		—		—			180,142

Short-term investments:
Time deposits	20,863		—		—			20,863
Commercial paper	35,925		—		(36		)	35,889
Government and corporate bonds	119,962		3		(154		)	119,811
Total short-term investments	176,750		3		(190		)	176,563

Long-term investments:
Government and corporate bonds	99,420		1		(266		)	99,155

Total available-for-sale investments	$	456,312	$	4	$	(456	)	$	455,860

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 and $88 million during the six months ended July 1, 2017 and July 2, 2016, respectively, resulting in insignificant gains in each period.