XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.23.1

Marketable Securities (Tables) | 3 Months Ended
--- | ---
Apr. 01, 2023
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 April 1, 2023 |
|  | Fair Value Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Agency securities |  | Level 2 |  | $ | 11,003 |  |  | $ | 9 |  |  | $ | (671 | ) |  | $ | 10,341 |
Mortgage-backed securities |  | Level 2 |  |  | 43,450 |  |  |  | — |  |  |  | (4,354 | ) |  |  | 39,096 |
Corporate debt securities |  | Level 2 |  |  | 1,077,532 |  |  |  | 194 |  |  |  | (69,489 | ) |  |  | 1,008,237 |
Municipal securities |  | Level 2 |  |  | 314,110 |  |  |  | 4 |  |  |  | (24,887 | ) |  |  | 289,227 |
Other |  | Level 2 |  |  | 7,019 |  |  |  | — |  |  |  | (1,053 | ) |  |  | 5,966 |
Total |  |  |  | $ | 1,453,114 |  |  | $ | 207 |  |  | $ | (100,454 | ) |  | $ | 1,352,867 |
|  | Available-For-Sale Securities as of December 31, 2022 |
|  | Fair Value Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Agency securities |  | Level 2 |  | $ | 7,000 |  |  | $ | — |  |  | $ | (786 | ) |  | $ | 6,214 |
Mortgage-backed securities |  | Level 2 |  |  | 45,373 |  |  |  | — |  |  |  | (4,525 | ) |  |  | 40,848 |
Corporate debt securities |  | Level 2 |  |  | 1,106,688 |  |  |  | 188 |  |  |  | (77,802 | ) |  |  | 1,029,074 |
Municipal securities |  | Level 2 |  |  | 326,058 |  |  |  | 3 |  |  |  | (28,861 | ) |  |  | 297,200 |
Other |  | Level 2 |  |  | 10,466 |  |  |  | — |  |  |  | (2,154 | ) |  |  | 8,312 |
Total |  |  |  | $ | 1,495,585 |  |  | $ | 191 |  |  | $ | (114,128 | ) |  | $ | 1,381,648 |
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 April 1, 2023 and December 31, 2022.
|  | As of April 1, 2023 |
|  | 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 |  | $ | — |  |  | $ | — |  |  | $ | (671 | ) |  | $ | 6,329 |  |  | $ | (671 | ) |  | $ | 6,329 |
Mortgage-backed securities |  |  | (15 | ) |  |  | 240 |  |  |  | (4,339 | ) |  |  | 38,856 |  |  |  | (4,354 | ) |  |  | 39,096 |
Corporate debt securities |  |  | (6,431 | ) |  |  | 200,179 |  |  |  | (63,058 | ) |  |  | 786,401 |  |  |  | (69,489 | ) |  |  | 986,580 |
Municipal securities |  |  | (253 | ) |  |  | 20,565 |  |  |  | (24,634 | ) |  |  | 266,158 |  |  |  | (24,887 | ) |  |  | 286,723 |
Other |  |  | — |  |  |  | — |  |  |  | (1,053 | ) |  |  | 5,966 |  |  |  | (1,053 | ) |  |  | 5,966 |
Total |  | $ | (6,699 | ) |  | $ | 220,984 |  |  | $ | (93,755 | ) |  | $ | 1,103,710 |  |  | $ | (100,454 | ) |  | $ | 1,324,694 |
|  | As of December 31, 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 |  | $ | — |  |  | $ | — |  |  | $ | (786 | ) |  | $ | 6,214 |  |  | $ | (786 | ) |  | $ | 6,214 |
Mortgage-backed securities |  |  | (1,900 | ) |  |  | 23,229 |  |  |  | (2,625 | ) |  |  | 17,619 |  |  |  | (4,525 | ) |  |  | 40,848 |
Corporate debt securities |  |  | (26,680 | ) |  |  | 508,956 |  |  |  | (51,122 | ) |  |  | 498,834 |  |  |  | (77,802 | ) |  |  | 1,007,790 |
Municipal securities |  |  | (2,136 | ) |  |  | 69,017 |  |  |  | (26,725 | ) |  |  | 225,679 |  |  |  | (28,861 | ) |  |  | 294,696 |
Other |  |  | — |  |  |  | — |  |  |  | (2,154 | ) |  |  | 8,067 |  |  |  | (2,154 | ) |  |  | 8,067 |
Total |  | $ | (30,716 | ) |  | $ | 601,202 |  |  | $ | (83,412 | ) |  | $ | 756,413 |  |  | $ | (114,128 | ) |  | $ | 1,357,615 |
Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities by Maturity | The amortized cost and fair value of marketable securities at April 1, 2023, by maturity, are shown below.
|  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 192,923 |  |  | $ | 188,878 |
Due after one year through five years |  |  | 1,256,355 |  |  |  | 1,160,827 |
Due after five years through ten years |  |  | 1,955 |  |  |  | 1,708 |
Due after ten years |  |  | 1,881 |  |  |  | 1,454 |
Total |  | $ | 1,453,114 |  |  | $ | 1,352,867 |

X
- 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 https://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration