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v3.25.1

Marketable Securities (Tables) | 3 Months Ended
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Mar. 29, 2025
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 29, 2025 |
|  | Fair Value Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities |  | Level 2 |  | $ | 5,720 |  |  | $ | 44 |  |  | $ | — |  |  | $ | 5,764 |
Agency securities |  | Level 2 |  |  | 51,194 |  |  |  | 84 |  |  |  | (287 | ) |  |  | 50,991 |
Mortgage-backed securities |  | Level 2 |  |  | 71,253 |  |  |  | 252 |  |  |  | (2,862 | ) |  |  | 68,643 |
Corporate debt securities |  | Level 2 |  |  | 1,333,884 |  |  |  | 4,470 |  |  |  | (14,797 | ) |  |  | 1,323,557 |
Municipal securities |  | Level 2 |  |  | 281,305 |  |  |  | 238 |  |  |  | (7,394 | ) |  |  | 274,149 |
Other |  | Level 2 |  |  | 2,406 |  |  |  | 12 |  |  |  | (63 | ) |  |  | 2,355 |
Total |  |  |  | $ | 1,745,762 |  |  | $ | 5,100 |  |  | $ | (25,403 | ) |  | $ | 1,725,459 |
|  | Available-For-Sale Securities as of December 28, 2024 |
|  | Fair Value Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities |  | Level 2 |  | $ | 4,930 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 4,938 |
Agency securities |  | Level 2 |  |  | 42,236 |  |  |  | 38 |  |  |  | (477 | ) |  |  | 41,797 |
Mortgage-backed securities |  | Level 2 |  |  | 43,599 |  |  |  | — |  |  |  | (4,375 | ) |  |  | 39,224 |
Corporate debt securities |  | Level 2 |  |  | 1,281,981 |  |  |  | 1,498 |  |  |  | (23,837 | ) |  |  | 1,259,642 |
Municipal securities |  | Level 2 |  |  | 281,295 |  |  |  | 21 |  |  |  | (9,907 | ) |  |  | 271,409 |
Other |  | Level 2 |  |  | 2,683 |  |  |  | 1 |  |  |  | (93 | ) |  |  | 2,591 |
Total |  |  |  | $ | 1,656,724 |  |  | $ | 1,566 |  |  | $ | (38,689 | ) |  | $ | 1,619,601 |
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 29, 2025 and December 28, 2024.
|  | As of March 29, 2025 |
|  | 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 |  | $ | (14 | ) |  | $ | 20,226 |  |  | $ | (273 | ) |  | $ | 6,727 |  |  | $ | (287 | ) |  | $ | 26,953 |
Mortgage-backed securities |  |  | (59 | ) |  |  | 21,127 |  |  |  | (2,803 | ) |  |  | 24,868 |  |  |  | (2,862 | ) |  |  | 45,995 |
Corporate debt securities |  |  | (1,624 | ) |  |  | 238,067 |  |  |  | (13,173 | ) |  |  | 597,821 |  |  |  | (14,797 | ) |  |  | 835,888 |
Municipal securities |  |  | (70 | ) |  |  | 18,992 |  |  |  | (7,324 | ) |  |  | 223,300 |  |  |  | (7,394 | ) |  |  | 242,292 |
Other |  |  | (7 | ) |  |  | 761 |  |  |  | (56 | ) |  |  | 1,132 |  |  |  | (63 | ) |  |  | 1,893 |
Total |  | $ | (1,774 | ) |  | $ | 299,173 |  |  | $ | (23,629 | ) |  | $ | 853,848 |  |  | $ | (25,403 | ) |  | $ | 1,153,021 |
|  | As of December 28, 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 |  | $ | (125 | ) |  | $ | 24,153 |  |  | $ | (352 | ) |  | $ | 6,647 |  |  | $ | (477 | ) |  | $ | 30,800 |
Mortgage-backed securities |  |  | (137 | ) |  |  | 9,803 |  |  |  | (4,238 | ) |  |  | 29,421 |  |  |  | (4,375 | ) |  |  | 39,224 |
Corporate debt securities |  |  | (4,503 | ) |  |  | 350,289 |  |  |  | (19,334 | ) |  |  | 667,176 |  |  |  | (23,837 | ) |  |  | 1,017,465 |
Municipal securities |  |  | (228 | ) |  |  | 35,001 |  |  |  | (9,679 | ) |  |  | 226,901 |  |  |  | (9,907 | ) |  |  | 261,902 |
Other |  |  | — |  |  |  | — |  |  |  | (93 | ) |  |  | 1,619 |  |  |  | (93 | ) |  |  | 1,619 |
Total |  | $ | (4,993 | ) |  | $ | 419,246 |  |  | $ | (33,696 | ) |  | $ | 931,764 |  |  | $ | (38,689 | ) |  | $ | 1,351,010 |
Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities by Maturity | The amortized cost and fair value of marketable securities at March 29, 2025, by maturity, are shown below.
|  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 505,028 |  |  | $ | 498,995 |
Due after one year through five years |  |  | 1,223,571 |  |  |  | 1,211,086 |
Due after five years through ten years |  |  | 10,179 |  |  |  | 9,538 |
Due after ten years |  |  | 6,984 |  |  |  | 5,840 |
Total |  | $ | 1,745,762 |  |  | $ | 1,725,459 |

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