INVESTMENTS

Available for Sale Securities

Our available for sale securities are reported in Investment securities. Unrealized investment gains (losses) on available for sale securities were as follows (in millions):



	September 26, 2015			June 27, 2015
Equity securities, at cost less impairments	$	17.1		$	17.1
Gross unrealized gains	10.6			5.7
Gross unrealized losses	(11.2		)	(10.1		)
Estimated fair value of equity securities	$	16.5		$	12.7

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 September 26, 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 $6.9 million and $6.8 million at September 26, 2015 and June 27, 2015, respectively, and are included in Other non-current assets.

Equity Method Investments

Our equity method investments totaled $48.5 million and $48.9 million at September 26, 2015 and June 27, 2015, respectively, and are included in Other non-current assets. We recorded net losses of $4.1 million and $3.1 million during the three months ended September 26, 2015 and September 27, 2014, respectively, for our proportionate share of the equity method investment earnings or losses. The losses were recorded in Other expense, net.