INVESTMENTS

Available for Sale Securities

Our available for sale securities totaled $12.7 million at June 27, 2015 and were reported in Investment securities. At June 28, 2014, available for sale securities totaled $20.7 million, of which $5.9 million was reported in Investment securities and $14.8 million was reported in Other non-current assets.

Net unrealized investment gains (losses) on available for sale securities were as follows (in millions):



	Fiscal Year
	2015			2014
Net unrealized investment gains (losses):
Equity securities, at cost less impairments	$	17.1		$	17.1
Gross unrealized gains	5.7			3.8
Gross unrealized losses	(10.1		)	(0.2		)
Estimated fair value of equity securities	$	12.7		$	20.7

During fiscal year 2014, we sold one of our investment securities and recorded a loss of $9.9 million. The loss was reclassified out of AOCI and into earnings.

The factors affecting the assessment of impairments include both general financial market conditions and factors specific to a particular company. The equity securities in a gross unrealized loss position at June 27, 2015 were in that position for less than 12 months. We have evaluated the near-term prospects of the equity securities in relation to the severity and duration of the unrealized impairments, and based on that evaluation, we have the ability and intent to hold the investments until a recovery of fair value.

Cost Method Investments

Our cost method investments totaled $6.8 million and $9.0 million at June 27, 2015 and June 28, 2014, respectively, and were included in Other non-current assets.

Equity Method Investments

Our equity method investments totaled $48.9 million and $57.4 million at June 27, 2015 and June 28, 2014, respectively, and are included in Other non-current assets. We recorded net losses of $9.9 million and $8.7 million during fiscal years 2015 and 2014, respectively, for our proportionate share of the equity method investment earnings or losses. In addition, during fiscal year 2014 we sold one of our equity method investments and recorded a loss of $2.8 million. All of the losses noted above were recorded in Other expense, net.