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Marketable Securities (Tables)
 6 Months Ended
Jun. 29, 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 June 29, 2024

 

 

 

Fair Value Level

 

Amortized Cost

 

 

Gross Unrealized
Gains

 

 

Gross Unrealized
Losses

 

 

Fair Value

 

U.S. Treasury securities

 

Level 2

 

$

16,936

 

 

$

2

 

 

$

—

 

 

$

16,938

 

Agency securities

 

Level 2

 

 

25,688

 

 

 

18

 

 

 

(551

)

 

 

25,155

 

Mortgage-backed securities

 

Level 2

 

 

36,294

 

 

 

—

 

 

 

(4,413

)

 

 

31,881

 

Corporate debt securities

 

Level 2

 

 

1,177,137

 

 

 

660

 

 

 

(39,182

)

 

 

1,138,615

 

Municipal securities

 

Level 2

 

 

281,008

 

 

 

16

 

 

 

(15,629

)

 

 

265,395

 

Other

 

Level 2

 

 

3,025

 

 

 

—

 

 

 

(160

)

 

 

2,865

 

Total

 

 

 

$

1,540,088

 

 

$

696

 

 

$

(59,935

)

 

$

1,480,849

 

 

 

 

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 June 29, 2024 and December 30, 2023.

 

 

 

As of June 29, 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

 

$

(33

)

 

$

6,929

 

 

$

(518

)

 

$

7,482

 

 

$

(551

)

 

$

14,411

 

Mortgage-backed securities

 

 

—

 

 

 

—

 

 

 

(4,413

)

 

 

31,881

 

 

 

(4,413

)

 

 

31,881

 

Corporate debt securities

 

 

(1,882

)

 

 

264,993

 

 

 

(37,300

)

 

 

771,326

 

 

 

(39,182

)

 

 

1,036,319

 

Municipal securities

 

 

(94

)

 

 

14,280

 

 

 

(15,535

)

 

 

243,951

 

 

 

(15,629

)

 

 

258,231

 

Other

 

 

—

 

 

 

—

 

 

 

(160

)

 

 

2,865

 

 

 

(160

)

 

 

2,865

 

Total

 

$

(2,009

)

 

$

286,202

 

 

$

(57,926

)

 

$

1,057,505

 

 

$

(59,935

)

 

$

1,343,707

 

 

 

 

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 June 29, 2024, by maturity, are shown below.

 

 

 

Amortized Cost

 

 

Fair Value

 

Due in one year or less

 

$

294,119

 

 

$

288,659

 

Due after one year through five years

 

 

1,228,392

 

 

 

1,177,147

 

Due after five years through ten years

 

 

8,238

 

 

 

7,405

 

Due after ten years

 

 

9,339

 

 

 

7,638

 

Total

 

$

1,540,088

 

 

$

1,480,849