CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

The Company started to invest in available-for-sale securities in the third quarter of fiscal 2016. The following table summarizes the Company’s available-for-sale securities at the end of the first quarter of fiscal 2017 and at the end of fiscal 2016.



	First Quarter of Fiscal 2017		At the end of Fiscal 2016
(In millions)
Available-for-sale securities:
U.S. Treasury securities	$	9.6	$	11.7
Municipal debt securities	10.0		10.0
Corporate debt securities	65.9		31.7
Time deposit	2.4		2.4
Commercial paper	83.8		77.5
Total available-for-sale securities	$	171.7	$	133.3

Reported as:
Cash equivalents	$	29.9	$	22.2
Short-term investments	141.8		111.1
Total	$	171.7	$	133.3

The Company did not recognize any realized gains or losses on its available-for-sale securities during the first quarter of 2017, and the net unrealized loss was $0.1 million which was included in Accumulated other comprehensive loss at the end of the first quarter of 2017.

The following table presents the contractual maturities of the Company's available-for-sale investments at the end of the first quarter of fiscal 2017.



	First Quarter of Fiscal 2017
(In millions)	Amortized Cost
Due in less than 1 year	$	144.2
Due in 1 to 5 years	17.5
Due in 5-10 years	2.0
Due after 10 years	8.0
Total	$	171.7

The Company’s available-for-sale securities are liquid and may be sold in the future to fund future operating needs. As a result, the Company recorded all of its available-for-sale securities, not classified as Cash equivalents, in Short-term investments regardless of the contractual maturity date of the securities.