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Marketable Securities (Tables)
 3 Months Ended
Mar. 30, 2024
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 March 30, 2024

 

 

 

Fair Value Level

 

Amortized Cost

 

 

Gross Unrealized
Gains

 

 

Gross Unrealized
Losses

 

 

Fair Value

 

U.S. Treasury securities

 

Level 2

 

$

3,446

 

 

$

—

 

 

$

—

 

 

$

3,446

 

Agency securities

 

Level 2

 

 

20,695

 

 

 

21

 

 

 

(598

)

 

 

20,118

 

Mortgage-backed securities

 

Level 2

 

 

37,510

 

 

 

—

 

 

 

(4,516

)

 

 

32,994

 

Corporate debt securities

 

Level 2

 

 

1,111,977

 

 

 

732

 

 

 

(43,402

)

 

 

1,069,307

 

Municipal securities

 

Level 2

 

 

296,722

 

 

 

49

 

 

 

(17,069

)

 

 

279,702

 

Other

 

Level 2

 

 

3,193

 

 

 

—

 

 

 

(223

)

 

 

2,970

 

Total

 

 

 

$

1,473,543

 

 

$

802

 

 

$

(65,808

)

 

$

1,408,537

 

 

 

 

Available-For-Sale Securities
as of December 30, 2023

 

 

 

Fair Value Level

 

Amortized Cost

 

 

Gross Unrealized
Gains

 

 

Gross Unrealized
Losses

 

 

Fair Value

 

U.S. Treasury securities

 

Level 2

 

$

2,971

 

 

$

1

 

 

$

—

 

 

$

2,972

 

Agency securities

 

Level 2

 

 

23,692

 

 

 

32

 

 

 

(585

)

 

 

23,139

 

Mortgage-backed securities

 

Level 2

 

 

38,743

 

 

 

—

 

 

 

(4,731

)

 

 

34,012

 

Corporate debt securities

 

Level 2

 

 

1,104,834

 

 

 

1,680

 

 

 

(46,073

)

 

 

1,060,441

 

Municipal securities

 

Level 2

 

 

294,240

 

 

 

98

 

 

 

(18,430

)

 

 

275,908

 

Other

 

Level 2

 

 

3,760

 

 

 

—

 

 

 

(423

)

 

 

3,337

 

Total

 

 

 

$

1,468,240

 

 

$

1,811

 

 

$

(70,242

)

 

$

1,399,809

 
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 March 30, 2024 and December 30, 2023.

 

 

 

As of March 30, 2024

 

 

 

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

 

 

(38

)

 

 

7,919

 

 

 

(560

)

 

 

6,440

 

 

 

(598

)

 

 

14,359

 

Mortgage-backed securities

 

 

—

 

 

 

—

 

 

 

(4,516

)

 

 

32,994

 

 

 

(4,516

)

 

 

32,994

 

Corporate debt securities

 

 

(1,634

)

 

 

153,897

 

 

 

(41,768

)

 

 

835,475

 

 

 

(43,402

)

 

 

989,372

 

Municipal securities

 

 

(47

)

 

 

10,640

 

 

 

(17,022

)

 

 

260,669

 

 

 

(17,069

)

 

 

271,309

 

Other

 

 

—

 

 

 

—

 

 

 

(223

)

 

 

2,970

 

 

 

(223

)

 

 

2,970

 

Total

 

$

(1,719

)

 

$

172,456

 

 

$

(64,089

)

 

$

1,138,548

 

 

$

(65,808

)

 

$

1,311,004

 

 

 

 

 

As of December 30, 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

 

 

(31

)

 

 

10,923

 

 

 

(554

)

 

 

6,446

 

 

 

(585

)

 

 

17,369

 

Mortgage-backed securities

 

 

—

 

 

 

—

 

 

 

(4,731

)

 

 

34,012

 

 

 

(4,731

)

 

 

34,012

 

Corporate debt securities

 

 

(702

)

 

 

64,637

 

 

 

(45,371

)

 

 

889,785

 

 

 

(46,073

)

 

 

954,422

 

Municipal securities

 

 

(32

)

 

 

2,654

 

 

 

(18,398

)

 

 

261,651

 

 

 

(18,430

)

 

 

264,305

 

Other

 

 

—

 

 

 

—

 

 

 

(423

)

 

 

3,337

 

 

 

(423

)

 

 

3,337

 

Total

 

$

(765

)

 

$

78,214

 

 

$

(69,477

)

 

$

1,195,231

 

 

$

(70,242

)

 

$

1,273,445

 
Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities by Maturity

The amortized cost and fair value of marketable securities at March 30, 2024, by maturity, are shown below.

 

 

 

Amortized Cost

 

 

Fair Value

 

Due in one year or less

 

$

279,010

 

 

$

274,579

 

Due after one year through five years

 

 

1,173,293

 

 

 

1,115,240

 

Due after five years through ten years

 

 

13,661

 

 

 

12,512

 

Due after ten years

 

 

7,579

 

 

 

6,206

 

Total

 

$

1,473,543

 

 

$

1,408,537