CASH EQUIVALENTS AND INVESTMENTS

9 Months Ended

Sep. 29, 2017

Investments, Debt and Equity Securities [Abstract]

Cash, Cash Equivalents, and Short-term Investments

CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

The Company started to invest in available-for-sale securities in the third quarter of fiscal 2016. The following table summarizes the Company’s available-for-sale securities at the end of the third quarter of fiscal 2017 and at the end of fiscal 2016.

	Third Quarter of Fiscal 2017		At the end of Fiscal 2016
(In millions)
Available-for-sale securities:
U.S. Treasury securities	$	11.6	$	11.7
Non-U.S. government securities	2.1		—
Municipal debt securities	—		10.0
Corporate debt securities	72.1		31.7
Time deposit	—		2.4
Commercial paper	93.5		77.5
Total available-for-sale securities	$	179.3	$	133.3
Reported as:
Cash equivalents	$	25.1	$	22.2
Short-term investments	154.2		111.1
Total	$	179.3	$	133.3

The Company realized $0.5 million and $1.5 million gains on its available-for-sale securities for the third quarter and the first three quarters of fiscal 2017, respectively. The net unrealized loss was $0.1 million which was included in Accumulated other comprehensive loss as of the end of the third quarter of 2017.

The following table presents the contractual maturities of the Company's available-for-sale investments at the end of the third quarter of fiscal 2017:

	Third Quarter of Fiscal 2017
(In millions)	Amortized Cost
Due in less than 1 year	$	175.0
Due in 1 to 5 years	4.3
Due in 5-10 years	—
Due after 10 years	—
Total	$	179.3

The Company’s available-for-sale securities are liquid and may be sold in the future to fund future operating needs. As a result, the Company recorded all of its available-for-sale securities, not classified as Cash equivalents, in Short-term investments regardless of the contractual maturity date of the securities.