CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

The Company did not have any investment in available-for-sale securities as of the end of fiscal 2015. The following table summarizes the Company’s available-for-sale securities as of the end of fiscal 2016:



	At the end of Fiscal 2016
(Dollars in millions)
Available-for-sale securities:
U.S. Treasury securities	$	11.7
Municipal debt securities	10.0
Corporate debt securities	31.7
Time deposit	2.4
Commercial paper	77.5
Total available-for-sale securities	$	133.3

Reported as:
Cash and cash equivalents	$	22.2
Short-term investments	111.1
Total	$	133.3

The Company recognized $0.3 million realized gains on its available-for-sale securities during fiscal 2016, and the gross unrealized gains or losses as of the end of fiscal 2016 were de minimis.

The following table presents the contractual maturities of the Company's available-for-sale investments as of the end of fiscal 2016.



	At the end of Fiscal 2016
(Dollars in millions)
Due in less than 1 year	$	106.9
Due in 1 to 5 years	16.4
Due in 5-10 years	2.0
Due after 10 years	8.0
Total	$	133.3

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 as of the end of fiscal 2016, regardless of the contractual maturity date of the securities.