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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

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
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