Investments

Available-for-sale investments at September 29, 2018 were as follows:



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

Cash equivalents:
Money market funds	$	151,635	$	—	$	—		$	151,635
Time deposits	59,869		—		—			59,869
Commercial paper	14,350		—		—			14,350
Total cash equivalents	225,854		—		—			225,854

Short-term investments:
Time deposits	30,485		—		—			30,485
Commercial paper	34,450		—		(24		)	34,426
Government and corporate bonds	251,060		—		(1,039		)	250,021
Total short-term investments	315,995		—		(1,063		)	314,932

Long-term investments:
Government and corporate bonds	57,043		5		(187		)	56,861

Total available-for-sale investments	$	598,892	$	5	$	(1,250	)	$	597,647

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



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

Cash equivalents:
Money market funds	$	99,472	$	—	$	—		$	99,472
Time deposits	60,226		—		—			60,226
Government and corporate bonds	850		—		—			850
Total cash equivalents	160,548		—		—			160,548

Short-term investments:
Time deposits	40,186		—		—			40,186
Commercial paper	147,646		2		(139		)	147,509
Government and corporate bonds	247,626		—		(477		)	247,149
Total short-term investments	435,458		2		(616		)	434,844

Long-term investments:
Government and corporate bonds	185,478		—		(1,026		)	184,452

Total available-for-sale investments	$	781,484	$	2	$	(1,642	)	$	779,844

We sold available-for-sale investments for proceeds of $45 million and $29 million during the nine months ended September 29, 2018 and September 30, 2017, respectively, resulting in insignificant gains/losses in each period.

Other Investments

On July 27, 2018 we acquired a minority interest in Essence Group Holdings Corporation ("Essence Group") for cash consideration of $266 million under a Stock Purchase Agreement ("SPA") dated July 9, 2018. Such investment is presented in long-term investments in our condensed consolidated balance sheets and is accounted for under the cost method of accounting.

Concurrently with the execution of the SPA, we announced a strategic operating relationship with Lumeris Healthcare Outcomes, LLC ("Lumeris"), a subsidiary of Essence Group, pursuant to which we will collaborate to bring to market an EHR-agnostic offering, Maestro Advantage^TM, designed to help providers who participate in value-based arrangements, including Medicare Advantage and provider-sponsored health plans, control costs and improve outcomes. Additionally, we sold certain solutions to Lumeris for an aggregate contract value of $28 million, most of which is to be recognized as revenue ratably over the next two years.