CASH, CASH EQUIVALENTS AND INVESTMENTS

Cadence’s cash, cash equivalents and short-term investments at fair value as of January 2, 2016 and January 3, 2015 were as follows:



	As of
	January 2, 2016		January 3, 2015
	(In thousands)
Cash and cash equivalents	$	616,686	$	932,161
Short-term investments	94,498		90,445
Cash, cash equivalents and short-term investments	$	711,184	$	1,022,606

Cash and Cash Equivalents

The following table summarizes Cadence’s cash and cash equivalents at fair value as of January 2, 2016 and January 3, 2015:



	As of
	January 2, 2016		January 3, 2015
	(In thousands)
Cash and interest bearing deposits	$	255,995	$	203,665
Money market funds	360,691		728,496
Total cash and cash equivalents	$	616,686	$	932,161

Short-Term Investments

The following tables summarize Cadence’s short-term investments as of January 2, 2016 and January 3, 2015:



	As of January 2, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Corporate debt securities	$	34,905	$	1	$	(77	)	$	34,829
Bank certificates of deposit	15,049		1		(4		)	15,046
United States Treasury securities	36,372		2		(88		)	36,286
United States government agency securities	4,151		1		—			4,152
Commercial paper	1,993		—		—			1,993
Marketable debt securities	92,470		5		(169		)	92,306
Marketable equity securities	1,817		375		—			2,192
Total short-term investments	$	94,287	$	380	$	(169	)	$	94,498



	As of January 3, 2015
	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 January 2, 2016, 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 January 2, 2016, 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	$	50,777	$	50,751
Due in one to three years	41,693		41,555
Total marketable debt securities included in short-term investments	$	92,470	$	92,306

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, convertible debt or other instruments of privately-held entities 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 January 2, 2016 and January 3, 2015 were as follows:



	As of
	January 2, 2016		January 3, 2015
	(In thousands)
Cost method	$	1,081	$	1,081
Equity method	2,836		5,058
Total non-marketable investments	$	3,917	$	6,139