CASH, CASH EQUIVALENTS AND INVESTMENTS

Cadence's cash, cash equivalents and short-term investments at fair value as of December 28, 2013 and December 29, 2012 were as follows:



	As of
	December 28, 2013		December 29, 2012
	(In thousands)
Cash and cash equivalents	$	536,260	$	726,357
Short-term investments	96,788		100,704
Cash, cash equivalents and short-term investments	$	633,048	$	827,061

Cash and Cash Equivalents

Cadence considers all highly liquid investments with original maturities of three months or less on the date of purchase to be cash equivalents. The amortized cost of Cadence's cash equivalents approximates fair value. The following table summarizes Cadence's cash and cash equivalents at fair value as of December 28, 2013 and December 29, 2012:



	As of
	December 28, 2013		December 29, 2012
	(In thousands)
Cash and interest bearing deposits	$	188,088	$	160,023
Money market funds	345,872		566,334
Bank certificates of deposit	2,300		—
Total cash and cash equivalents	$	536,260	$	726,357

Short-Term Investments

The following tables summarize Cadence's short-term investments as of December 28, 2013 and December 29, 2012:



	December 28, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Corporate debt securities	$	37,422	$	30	$	(11	)	$	37,441
Bank certificates of deposit	20,300		9		(1		)	20,308
United States Treasury securities	24,219		28		(1		)	24,246
United States government agency securities	10,212		11		—			10,223
Commercial paper	2,492		1		—			2,493
Marketable debt securities	94,645		79		(13		)	94,711
Marketable equity securities	1,817		260		—			2,077
Total short-term investments	$	96,462	$	339	$	(13	)	$	96,788



	As of December 29, 2012
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Corporate debt securities	$	31,313	$	57	$	(11	)	$	31,359
Bank certificates of deposit	27,805		21		—			27,826
United States Treasury securities	23,213		26		—			23,239
United States government agency securities	10,245		13		—			10,258
Commercial paper	5,777		6		—			5,783
Marketable debt securities	98,353		123		(11		)	98,465
Marketable equity securities	1,817		422		—			2,239
Total short-term investments	$	100,170	$	545	$	(11	)	$	100,704

As of December 28, 2013, no securities held by Cadence had been in an unrealized loss position for greater than nine months.

The amortized cost and estimated fair value of marketable debt securities included in short-term investments as of December 28, 2013, by contractual maturity, are shown in the table below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without penalties.



	Amortized Cost		Fair Value
	(In thousands)
Due in less than one year	$	51,324	$	51,358
Due in one to three years	43,321		43,353
Total marketable debt securities included in short-term investments	$	94,645	$	94,711

Realized gains and losses from the sale of marketable debt and equity securities are recorded in other income, net in the consolidated income statements.

Non-Marketable Investments

Cadence's non-marketable investments generally consist of voting preferred stock or convertible debt of privately-held companies and are included in other assets on Cadence's consolidated balance sheets. If Cadence determines that it has the ability to exercise significant influence over the issuer, which may include considering whether the investments are in-substance common stock, the investment is accounted for using the equity method.

Cadence records in the consolidated income statements as other income, net, realized gains and losses from the sale of non-marketable investments, write downs related to cost method investments due to other-than-temporary declines in value and its proportional share of issuers' gains or losses related to equity method investments.

The equity method income or loss recorded by Cadence is based on its percentage ownership in the issuer.

Cadence's non-marketable investments as of December 28, 2013 and December 29, 2012 were as follows:



	As of
	December 28, 2013		December 29, 2012
	(In thousands)
Cost method	$	3,038	$	3,038
Equity method	3,639		4,249
Total non-marketable investments	$	6,677	$	7,287