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Investments
12 Months Ended
Dec. 29, 2018
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENTS
INVESTMENTS
Cadence has a portfolio of equity investments that includes investments in both marketable and non-marketable securities. These investments primarily consist of cash investments in companies with technologies or services that are potentially strategically important to Cadence.
Marketable Investments
Cadence’s investment in marketable equity securities consists of purchased shares of a publicly-held company and is included in prepaid expense and other in Cadence’s consolidated balance sheets. During fiscal 2018, with the adoption of ASU 2016-01, changes in the fair value of these investments were recorded to other income, net in Cadence’s consolidated income statements. During fiscal 2017 and fiscal 2016, changes in fair value of these investments were recorded to accumulated other comprehensive loss in Cadence’s consolidated balance sheets. For additional information regarding the adoption of ASU 2016-01, see Note 2 to the consolidated financial statements under the heading “Recently Adopted Accounting Standards.”
Non-Marketable investments
Cadence’s investments in non-marketable equity securities generally consist of stock, convertible debt or other instruments of privately-held entities and are included in other assets on Cadence’s consolidated balance sheets. For investments accounted for using the equity method of accounting, Cadence records its proportionate share of income or loss, net of the effects of any basis differences, to other income, net on a one-quarter lag in Cadence's consolidated income statements.
In December 2018, Cadence made a minority investment in a privately held company for approximately $116 million. The investment is being accounted for using the equity method of accounting. Cadence’s investments in non-marketable equity securities that are accounted for using the equity method of accounting ranged from approximately 12% to 35% equity ownership and had an aggregate carrying value of $118.2 million and $2.5 million as of December 29, 2018 and December 30, 2017, respectively.
Cadence also holds other non-marketable investments in privately held companies where Cadence does not have the ability to exercise significant influence and the fair value of the investments is not readily determinable. These investments are recorded at cost, less impairment, if any, plus or minus changes resulting from observable price changes in market-based transactions for identical or similar investments of the same issuer. During the fiscal year ended December 29, 2018, there were no observable price changes or impairments related to Cadence’s non-marketable investments in equity securities without a readily determinable fair value. The carrying value of these investments was $0.5 million as of December 29, 2018 and December 30, 2017.