CASH, CASH EQUIVALENTS AND INVESTMENTS

Cadence’s cash, cash equivalents and short-term investments at fair value as of April 4, 2015 and January 3, 2015 were as follows:



	As of
	April 4, 2015		January 3, 2015
	(In thousands)
Cash and cash equivalents	$	887,736	$	932,161
Short-term investments	92,640		90,445
Cash, cash equivalents and short-term investments	$	980,376	$	1,022,606

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 April 4, 2015 and January 3, 2015:



	As of
	April 4, 2015		January 3, 2015
	(In thousands)
Cash and interest bearing deposits	$	209,310	$	203,665
Money market funds	678,426		728,496
Total cash and cash equivalents	$	887,736	$	932,161

Short-Term Investments

The following tables summarize Cadence’s short-term investments as of April 4, 2015 and January 3, 2015:



	As of April 4, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Corporate debt securities	$	33,513	$	17	$	(9	)	$	33,521
Bank certificates of deposit	18,300		7		—			18,307
United States Treasury securities	26,563		66		—			26,629
United States government agency securities	8,159		2		(1		)	8,160
Commercial paper	4,181		18		—			4,199
Marketable debt securities	90,716		110		(10		)	90,816
Marketable equity securities	1,817		7		—			1,824
Total short-term investments	$	92,533	$	117	$	(10	)	$	92,640



	As of January 3, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Corporate debt securities	$	34,919	$	6	$	(31	)	$	34,894
Bank certificates of deposit	21,900		10		—			21,910
United States Treasury securities	19,375		12		(13		)	19,374
United States government agency securities	9,209		3		(4		)	9,208
Commercial paper	3,184		4		(2		)	3,186
Marketable debt securities	88,587		35		(50		)	88,572
Marketable equity securities	1,817		56		—			1,873
Total short-term investments	$	90,404	$	91	$	(50	)	$	90,445

As of April 4, 2015, no securities held by Cadence had been in an unrealized loss position for more than 11 months.

The amortized cost and estimated fair value of marketable debt securities included in short-term investments as of April 4, 2015, 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	$	61,860	$	61,899
Due in one to three years	28,856		28,917
Total marketable debt securities included in short-term investments	$	90,716	$	90,816

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