Available-for-sale Investments

Available-for-sale investments at September 30, 2017 were as follows:



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

Cash equivalents:
Money market funds	$	319,668	$	—	$	—		$	319,668
Time deposits	51,426		—		—			51,426
Commercial paper	23,550		—		—			23,550
Government and corporate bonds	500		—		—			500
Total cash equivalents	395,144		—		—			395,144

Short-term investments:
Time deposits	32,808		—		—			32,808
Commercial paper	87,916		2		(44		)	87,874
Government and corporate bonds	158,532		2		(220		)	158,314
Total short-term investments	279,256		4		(264		)	278,996

Long-term investments:
Government and corporate bonds	99,226		—		(194		)	99,032

Total available-for-sale investments	$	773,626	$	4	$	(458	)	$	773,172

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 $29 million and $92 million during the nine months ended September 30, 2017 and October 1, 2016, respectively, resulting in insignificant gains in each period.