| Investments |
Available-for-sale Investments
Available-for-sale investments at October 1, 2016 were as follows: | | | | | | | | | | | | | | | | | | (In thousands) | | Adjusted Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | | | | | | | | | Cash equivalents: | | | | | | | | | Money market funds | | $ | 108,378 |
| | $ | — |
| | $ | — |
| | $ | 108,378 |
| Time deposits | | 9,199 |
| | — |
| | — |
| | 9,199 |
| Commercial paper | | 2,500 |
| | — |
| | — |
| | 2,500 |
| Total cash equivalents | | 120,077 |
| | — |
| | — |
| | 120,077 |
| | | | | | | | | | Short-term investments: | | | | | | | | | Time deposits | | 44,980 |
| | — |
| | — |
| | 44,980 |
| Commercial paper | | 37,825 |
| | — |
| | (50 | ) | | 37,775 |
| Government and corporate bonds | | 178,551 |
| | 12 |
| | (133 | ) | | 178,430 |
| Total short-term investments | | 261,356 |
| | 12 |
| | (183 | ) | | 261,185 |
| | | | | | | | | | Long-term investments: | | | | | | | | | Government and corporate bonds | | 130,496 |
| | 17 |
| | (221 | ) | | 130,292 |
| | | | | | | | | | Total available-for-sale investments | | $ | 511,929 |
|
| $ | 29 |
|
| $ | (404 | ) |
| $ | 511,554 |
|
Available-for-sale investments at January 2, 2016 were as follows: | | | | | | | | | | | | | | | | | | (In thousands) | | Adjusted Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | | | | | | | | | Cash equivalents: | | | | | | | | | Money market funds | | $ | 126,752 |
| | $ | — |
| | $ | — |
| | $ | 126,752 |
| Time deposits | | 5,677 |
| | — |
| | — |
| | 5,677 |
| Government and corporate bonds | | 73 |
| | — |
| | — |
| | 73 |
| Total cash equivalents | | 132,502 |
| | — |
| | — |
| | 132,502 |
| | | | | | | | | | Short-term investments: | | | | | | | | | Time deposits | | 30,989 |
| | — |
| | — |
| | 30,989 |
| Commercial paper | | 1,500 |
| | — |
| | (2 | ) | | 1,498 |
| Government and corporate bonds | | 78,655 |
| | 20 |
| | (103 | ) | | 78,572 |
| Total short-term investments | | 111,144 |
| | 20 |
| | (105 | ) | | 111,059 |
| | | | | | | | | | Long-term investments: | | | | | | | | | Government and corporate bonds | | 156,527 |
| | 14 |
| | (569 | ) | | 155,972 |
| | | | | | | | | | Total available-for-sale investments | | $ | 400,173 |
| | $ | 34 |
| | $ | (674 | ) | | $ | 399,533 |
|
We sold available-for-sale investments for proceeds of $92 million and $157 million during the nine months ended October 1, 2016 and October 3, 2015, respectively, resulting in insignificant gains in each period. |