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INVESTMENTS
9 Months Ended
Mar. 02, 2013
INVESTMENTS

7. INVESTMENTS

As of March 2, 2013, we had approximately $70.3 million invested in time deposits and certificate of deposits (“CD”). Of this, $63.6 million mature in less than twelve months and $6.7 million mature in greater than twelve months. The fair value of these investments is equal to the face value of each time deposit and CD.

As of June 2, 2012, we had approximately $115.3 million invested in time deposits and CD’s. Of this, $105.0 million mature in less than twelve months and $10.3 million mature in greater than twelve months. The fair value of these investments is equal to the face value of each time deposit and CD,

We also have investments in equity securities, all of which are classified as available-for-sale and are carried at their fair value based on quoted market prices. Our investments, which are included in non-current assets, had a carrying amount of $0.4 million as of March 2, 2013, and as of June 2, 2012. Proceeds from the sale of securities were less than $0.1 million during the third quarter and $0.2 million for the first nine months of fiscal 2013. Proceeds from the sale of securities were $0.1 million during the third quarter of fiscal 2012 and $0.2 million for the first nine months of fiscal 2012. We reinvested proceeds from the sale of securities, and the cost of the equity securities sold was based on a specific identification method. Gross realized gains and losses on those sales were less than $0.1 million during the third quarter and first nine months of fiscal 2013 and fiscal 2012. Net unrealized holding losses of less than $0.1 million during the third quarter and first nine months of fiscal 2013 and fiscal 2012, have been included in accumulated other comprehensive income.