CASH, CASH EQUIVALENTS, AND INVESTMENTS

The following tables summarize the Company’s cash, cash equivalents, and investments’ adjusted cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category recorded as cash and cash equivalents, short-term, or long-term investments as of March 31, 2016 and 2015 (in thousands):



March 31, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash & Cash Equivalents		Short-term investments (due in 1 year or less)		Long-term investments (due in 1 to 3 years)
Cash	$	232,600	$	—	$	—		$	232,600	$	232,600	$	—	$	—
Level 1:
Mutual Funds	10,025		32		(548		)	9,509		—		9,509		—
US Treasury Notes	25,051		21		(9		)	25,063		—		12,993		12,070
Subtotal	35,076		53		(557		)	34,572		—		22,502		12,070
Level 2:
Government Agency Securities	72,698		24		(20		)	72,702		—		10,521		62,181
Commercial Paper	37,628		—		—			37,628		650		36,978		—
Corporate Bonds	147,662		234		(97		)	147,799		2,016		77,115		68,668
Certificates of Deposits ("CDs")	15,639		—		—			15,639		—		12,935		2,704
Subtotal	273,627		258		(117		)	273,768		2,666		137,549		133,553

Total cash, cash equivalents and investments measured at fair value	$	541,303	$	311	$	(674	)	$	540,940	$	235,266	$	160,051	$	145,623



March 31, 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash & Cash Equivalents		Short-term investments (due in 1 year or less)		Long-term investments (due in 1 to 3 years)
Cash	$	273,350	$	—	$	—		$	273,350	$	273,350	$	—	$	—
Level 1:
Mutual Funds	5,398		147		(25		)	5,520		—		5,520		—
Level 2:
Government Agency Securities	89,875		37		(22		)	89,890		—		43,024		46,866
Commercial Paper	17,574		10		—			17,584		3,500		14,084		—
Corporate Bonds	95,759		199		(3		)	95,955		—		35,231		60,724
Subtotal	203,208		246		(25		)	203,429		3,500		92,339		107,590

Total cash, cash equivalents and investments measured at fair value	$	481,956	$	393	$	(50	)	$	482,299	$	276,850	$	97,859	$	107,590

As of March 31, 2016 and 2015, with the exception of assets related to the Company's deferred compensation plan, all of the Company's investments are classified as available-for-sale securities. The carrying value of available-for-sale securities included in cash equivalents approximates fair value because of the short maturity of those instruments.

The Company did not incur any material realized or unrealized net gains or losses for the fiscal years ended March 31, 2016 and 2015.

There were no transfers between fair value measurement levels during the years ended March 31, 2016 and 2015.