7. Investments

We account for investments in marketable securities at fair value, with the unrealized gain or loss, less deferred income taxes, shown as a separate component of stockholders' equity. We base realized gains and losses on specific identification of the security sold. At December 30, 2011, and December 31, 2010, available-for-sale marketable securities consisted of the following:


	Amortized Cost		Unrealized Gain		Unrealized Loss			Fair Value
December 30, 2011
U.S. government debt obligations	$	195.2	$	0.5	$	—		$	195.7
Corporate debt obligations guaranteed by FDIC		66.6		0.2		—			66.8
Corporate debt obligations		201.4		0.8		(0.7	)		201.5
Mortgaged backed debt obligations guaranteed by GNMA		90.9		0.4		(0.1	)		91.2
Certificates of deposit guaranteed by FDIC		1.5		—		—			1.5
Foreign government debt obligations		221.5		1.5		—			223.0
Foreign corporate debt obligations guaranteed by foreign governments		64.1		0.2		(0.1	)		64.2

Total	$	841.2	$	3.6	$	(0.9	)	$	843.9

December 31, 2010
U.S. government debt obligations	$	259.0	$	0.1	$	(0.7	)	$	258.4
Corporate debt obligations guaranteed by FDIC		102.3		0.3		—			102.6
Corporate debt obligations		95.6		0.5		(0.2	)		95.9
Mortgaged backed debt obligations guaranteed by GNMA		175.5		0.8		(1.2	)		175.1
Certificates of deposit guaranteed by FDIC		3.3		—		—			3.3
Foreign government debt obligations		201.4		1.6		(0.9	)		202.1
Foreign corporate debt obligations guaranteed by foreign governments		87.8		0.6		(0.1	)		88.3

Total	$	924.9	$	3.9	$	(3.1	)	$	925.7

The following table summarizes the maturities of our available-for-sale marketable securities at December 30, 2011:


	Amortized Cost		Fair Value
Less than 12 months	$	296.0	$	296.4
Due in 1 to 5 years		454.4		456.3
Due after 5 years		90.8		91.2

Total	$	841.2	$	843.9

Gross unrealized gains and losses related to fixed-income securities were caused by interest rate fluctuations. We review investments held with unrealized losses to determine if the loss is other-than-temporary. We evaluated near-term prospects of the security in relation to the severity and duration of the unrealized loss. We also assessed our intent to sell the security, whether it is more likely than not that the security will be required to be sold before recovery, or the security is not expected to recover its entire amortized cost basis. Based on our review, we do not intend to sell these securities and believe that they will recover their entire amortized cost basis; therefore, we do not consider these investments to be other-than-temporarily impaired at December 30, 2011. We recognized other-than-temporary impairments of $1.2 million in 2011. No other-than-temporary impairments were recorded in 2010 and 2009.

Investments in marketable securities with unrealized losses at December 30, 2011, and December 31, 2010, were as follows:


	Unrealized Loss					Unrealized Loss
	Less than 12 months					Greater than 12 months						Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
December 30, 2011
Corporate debt obligations	$	81.0	$	(0.7	)	$	—	$	—	$	81.0	$	(0.7	)
Mortgaged backed debt obligations guaranteed by GNMA		31.4		(0.1	)		—		—		31.4		(0.1	)
Foreign government debt obligations guaranteed by foreign governments		24.1		(0.1	)		—		—		24.1		(0.1	)

Total	$	136.5	$	(0.9	)	$	—	$	—	$	136.5	$	(0.9	)

December 31, 2010
U.S. government debt obligations	$	218.6	$	(0.7	)	$	—	$	—	$	218.6	$	(0.7	)
Corporate debt obligations		47.5		(0.2	)		—		—		47.5		(0.2	)
Mortgaged backed debt obligations guaranteed by GNMA		115.7		(1.2	)		—		—		115.7		(1.2	)
Foreign government debt obligations		92.9		(0.9	)		—		—		92.9		(0.9	)
Foreign government debt obligations guaranteed by foreign governments		32.6		(0.1	)		—		—		32.6		(0.1	)

Total	$	507.3	$	(3.1	)	$	—	$	—	$	507.3	$	(3.1	)

The following table presents gross realized gains and losses related to fixed income investments:


	2011			2010			2009
Gross realized gains	$	3.8		$	14.9		$	6.0
Gross realized losses¹		(4.9	)		(2.7	)		(1.3	)

Total	$	(1.1	)	$	12.2		$	4.7

¹	Includes other-than-temporary impairments of $1.2 million for the year ended December 30, 2011.

As a result of the acquisition of Advanced Fibre Communications, Inc. (AFC) in 2004, we acquired 10.6 million shares of Cisco common stock, shown as Other marketable securities in Current Assets. AFC owned Cisco stock as a result of its investment in privately held Cerent Corporation, which was acquired by Cisco in 1999 through the exchange of AFC's ownership in Cerent Corporation for Cisco stock. In 2000, AFC entered into two three-year hedge contracts, pledging all of the Cisco stock to secure the obligations under the contracts. When the hedge contracts matured in 2003, AFC entered into stock loan agreements with a lender, borrowing 10.6 million shares of Cisco stock to settle the hedge contracts on the Cisco stock. The aggregate amount of the fair values of those stock loans is reflected as a current liability on our balance sheets as of December 30, 2011, and December 31, 2010. The values of both the asset and liability move in tandem with each other since each is based on the number of shares we hold at the current stock price. Other marketable securities and Loan related to other marketable securities was $190.9 million at a market price of $18.08 per share at December 30, 2011, and $213.6 million at a market price of $20.23 per share at December 31, 2010. The fees associated with the stock loan agreement were $1.1 million in 2011 and $1.5 million in 2010 and 2009, included in Interest income, net in the Consolidated Statements of Operations.

In addition to the above investments, we maintain investments in partnerships and start-up technology companies. We record these investments in Other Assets, at cost. These investments totaled $3.2 million at December 30, 2011, and $6.3 million at December 31, 2010. We review each investment quarterly, including historical and projected financial performance, expected cash needs and recent funding events. We recognize other-than-temporary impairments if the market value of the investment is below its cost basis for an extended period of time or if the issuer has experienced significant financial declines or difficulties in raising capital to continue operations. Other-than-temporary impairments were $1.0 million for the year ended December 30, 2011, $3.8 million for the year ended December 31, 2010, and $0.4 million for the year ended January 1, 2010. Other-than-temporary impairments are included in Other (expense) income, net in the Consolidated Statements of Operations.