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v3.22.2

Marketable Securities (Tables) | 6 Months Ended
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Jun. 25, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule of Marketable Securities Classified as Available-for-sale Securities | Marketable securities classified as available-for-sale securities are summarized below:
|  | Available-For-Sale Securities as of June 25, 2022 |
|  | Fair Value Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Agency securities |  | Level 2 |  |  | 7,000 |  |  |  | — |  |  |  | (597 | ) |  |  | 6,403 |
Mortgage-backed securities |  | Level 2 |  |  | 158,957 |  |  |  | 3 |  |  |  | (3,494 | ) |  |  | 155,466 |
Commercial paper |  | Level 2 |  |  | 200,329 |  |  |  | — |  |  |  | — |  |  |  | 200,329 |
Corporate debt securities |  | Level 2 |  |  | 1,147,667 |  |  |  | 249 |  |  |  | (64,004 | ) |  |  | 1,083,912 |
Municipal securities |  | Level 2 |  |  | 339,483 |  |  |  | 78 |  |  |  | (23,260 | ) |  |  | 316,301 |
Other |  | Level 2 |  |  | 13,366 |  |  |  | — |  |  |  | (1,648 | ) |  |  | 11,718 |
Total |  |  |  | $ | 1,866,802 |  |  | $ | 330 |  |  | $ | (93,003 | ) |  | $ | 1,774,129 |
|  | Available-For-Sale Securities as of December 25, 2021 |
|  | Fair Value Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Agency securities |  | Level 2 |  |  | 7,000 |  |  |  | — |  |  |  | (110 | ) |  |  | 6,890 |
Mortgage-backed securities |  | Level 2 |  |  | 149,692 |  |  |  | 257 |  |  |  | (880 | ) |  |  | 149,069 |
Commercial paper |  | Level 2 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Corporate debt securities |  | Level 2 |  |  | 1,079,390 |  |  |  | 9,830 |  |  |  | (11,827 | ) |  |  | 1,077,393 |
Municipal securities |  | Level 2 |  |  | 356,037 |  |  |  | 1,870 |  |  |  | (4,864 | ) |  |  | 353,043 |
Other |  | Level 2 |  |  | 31,134 |  |  |  | 22 |  |  |  | (873 | ) |  |  | 30,283 |
Total |  |  |  | $ | 1,623,253 |  |  | $ | 11,979 |  |  | $ | (18,554 | ) |  | $ | 1,616,678 |
Schedule of Gross Unrealized Losses and Fair Value by Major Security Type | The following tables display additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of June 25, 2022 and December 25, 2021.
|  | As of June 25, 2022 |
|  | Less than 12 Consecutive Months |  |  | 12 Consecutive Months or Longer |  |  | Total |
|  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |
Agency securities |  |  | (597 | ) |  |  | 6,403 |  |  |  | — |  |  |  | — |  |  |  | (597 | ) |  |  | 6,403 |
Mortgage-backed securities |  |  | (2,549 | ) |  |  | 45,338 |  |  |  | (945 | ) |  |  | 5,709 |  |  |  | (3,494 | ) |  |  | 51,047 |
Commercial paper |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Corporate debt securities |  |  | (42,712 | ) |  |  | 781,300 |  |  |  | (21,292 | ) |  |  | 218,091 |  |  |  | (64,004 | ) |  |  | 999,391 |
Municipal securities |  |  | (15,155 | ) |  |  | 219,841 |  |  |  | (8,105 | ) |  |  | 81,579 |  |  |  | (23,260 | ) |  |  | 301,420 |
Other |  |  | (75 | ) |  |  | 1,685 |  |  |  | (1,573 | ) |  |  | 8,553 |  |  |  | (1,648 | ) |  |  | 10,238 |
Total |  | $ | (61,088 | ) |  | $ | 1,054,567 |  |  | $ | (31,915 | ) |  | $ | 313,932 |  |  | $ | (93,003 | ) |  | $ | 1,368,499 |
|  | As of December 25, 2021 |
|  | Less than 12 Consecutive Months |  |  | 12 Consecutive Months or Longer |  |  | Total |
|  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |
Agency securities |  |  | (110 | ) |  |  | 6,890 |  |  |  | — |  |  |  | — |  |  |  | (110 | ) |  |  | 6,890 |
Mortgage-backed securities |  |  | (148 | ) |  |  | 18,909 |  |  |  | (732 | ) |  |  | 7,598 |  |  |  | (880 | ) |  |  | 26,507 |
Commercial paper |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Corporate debt securities |  |  | (9,466 | ) |  |  | 499,084 |  |  |  | (2,361 | ) |  |  | 85,033 |  |  |  | (11,827 | ) |  |  | 584,117 |
Municipal securities |  |  | (4,247 | ) |  |  | 226,009 |  |  |  | (617 | ) |  |  | 29,405 |  |  |  | (4,864 | ) |  |  | 255,414 |
Other |  |  | (467 | ) |  |  | 17,845 |  |  |  | (406 | ) |  |  | 7,205 |  |  |  | (873 | ) |  |  | 25,050 |
Total |  | $ | (14,438 | ) |  | $ | 768,737 |  |  | $ | (4,116 | ) |  | $ | 129,241 |  |  | $ | (18,554 | ) |  | $ | 897,978 |
Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities by Maturity | The amortized cost and fair value of marketable securities at June 25, 2022, by maturity, are shown below.
|  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 528,438 |  |  | $ | 526,639 |
Due after one year through five years |  |  | 1,295,777 |  |  |  | 1,208,474 |
Due after five years through ten years |  |  | 38,483 |  |  |  | 35,575 |
Due after ten years |  |  | 4,104 |  |  |  | 3,441 |
Total |  | $ | 1,866,802 |  |  | $ | 1,774,129 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
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