CASH, CASH EQUIVALENTS AND INVESTMENTS

Cadence’s cash, cash equivalents and short-term investments at fair value as of July 1, 2017 and December 31, 2016 were as follows:



	As of
	July 1, 2017		December 31, 2016
	(In thousands)
Cash and cash equivalents	$	655,998	$	465,232
Short-term investments	3,229		3,057
Cash, cash equivalents and short-term investments	$	659,227	$	468,289

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 July 1, 2017 and December 31, 2016:



	As of
	July 1, 2017		December 31, 2016
	(In thousands)
Cash and interest bearing deposits	$	208,108	$	227,508
Money market funds	447,890		237,724
Total cash and cash equivalents	$	655,998	$	465,232

Short-Term Investments

The following tables summarize Cadence’s short-term investments as of July 1, 2017 and December 31, 2016:



	As of July 1, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Marketable equity securities	$	2,055	$	1,174	$	—	$	3,229



	As of December 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Marketable equity securities	$	2,131	$	926	$	—	$	3,057

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.