INVESTMENTS

Available for Sale Securities

Our available for sale securities totaled $14.9 million and $12.7 million at December 31, 2015 and June 27, 2015, respectively, and were reported in Prepaid expenses and other current assets. At June 28, 2014, available for sale securities totaled $20.7 million, of which $5.9 million were reported in Prepaid expenses and other current assets and $14.8 million were reported in Other non-current assets.

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



	Six Months Ended			Fiscal Year Ended
	December 31, 2015			June 27, 2015			June 28, 2014
Net unrealized investment gains (losses):
Equity securities, at cost less impairments	$	6.4		$	17.1		$	17.1
Gross unrealized gains	9.3			5.7			3.8
Gross unrealized losses	(0.8		)	(10.1		)	(0.2		)
Estimated fair value of equity securities	$	14.9		$	12.7		$	20.7

The factors affecting the assessment of impairments include both general financial market conditions and factors specific to a particular company. We recorded an impairment charge of $10.7 million related to an other-than-temporary impairment of one of our marketable equity securities during the six months ended December 31, 2015. The equity securities in a gross unrealized loss position at December 31, 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.

During the fiscal year ended June 28, 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.

Cost Method Investments

Our cost method investments totaled $6.9 million, $6.8 million, and $9.0 million at December 31, 2015, June 27, 2015, and June 28, 2014, respectively, and were included in Other non-current assets.

Equity Method Investments

Our equity method investments totaled $45.5 million, $48.9 million, and $57.4 million at December 31, 2015, June 27, 2015, and June 28, 2014, respectively, and were included in Other non-current assets. We recorded net losses of $7.1 million, $9.9 million, and $8.7 million during the six months ended December 31, 2015 and the fiscal years ended June 27, 2015 and June 28, 2014, respectively, for our proportionate share of the equity method investment earnings or losses. In addition, during the fiscal year ended June 28, 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.