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Cash and Investments | 9 Months Ended
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Sep. 27, 2019
Investments, Debt and Equity Securities [Abstract] |
CASH AND INVESTMENTS | CASH AND INVESTMENTS Cash, Cash Equivalents and Restricted Cash A reconciliation of Cash, cash equivalents, and restricted cash reported within our Condensed Consolidated Balance Sheets to the amount reported within the accompanying Condensed Consolidated Statements of Cash Flows was as follows (in thousands):
| September 30, 2019 |  | December 31, 2018 |  | September 30, 2018 |  | December 31, 2017
Cash and cash equivalents | $ | 242,317 |  |  | $ | 314,775 |  |  | $ | 353,623 |  |  | $ | 183,164 |
Restricted cash included in short-term restricted cash and investments | — |  |  | — |  |  | 504 |  |  | 504 |
Restricted cash included in long-term restricted cash and investments | 1,000 |  |  | 1,100 |  |  | 1,100 |  |  | 4,646 |
Cash, cash equivalents, and restricted cash as reported within the accompanying Condensed Consolidated Statements of Cash Flows | $ | 243,317 |  |  | $ | 315,875 |  |  | $ | 355,227 |  |  | $ | 188,314 |
Restricted cash includes certificates of deposit used to collateralize letters of credit and, in prior periods, a purchasing card program. Cash and Investments Cash and investments by security type were as follows (in thousands):
| September 30, 2019
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Investments available-for-sale: |  |  |  |  |  |  |
Money market funds | $ | 26,641 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,641 |
Commercial paper | 332,239 |  |  | — |  |  | — |  |  | 332,239 |
Corporate bonds | 703,325 |  |  | 3,549 |  |  | (67 | ) |  | 706,807 |
U.S. Treasury and government sponsored enterprises | 152,531 |  |  | 143 |  |  | (24 | ) |  | 152,650 |
Total investments available-for-sale | 1,214,736 |  |  | 3,692 |  |  | (91 | ) |  | 1,218,337 |
Cash and restricted cash | 901 |  |  | — |  |  | — |  |  | 901 |
Certificates of deposit | 29,189 |  |  | 3 |  |  | — |  |  | 29,192 |
Total cash and investments | $ | 1,244,826 |  |  | $ | 3,695 |  |  | $ | (91 | ) |  | $ | 1,248,430 |
| December 31, 2018
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Investments available-for-sale: |  |  |  |  |  |  |
Money market funds | $ | 47,744 |  |  | $ | — |  |  | $ | — |  |  | $ | 47,744 |
Commercial paper | 381,134 |  |  | — |  |  | (1 | ) |  | 381,133 |
Corporate bonds | 344,741 |  |  | 180 |  |  | (857 | ) |  | 344,064 |
U.S. Treasury and government sponsored enterprises | 55,224 |  |  | 2 |  |  | (25 | ) |  | 55,201 |
Total investments available-for-sale | 828,843 |  |  | 182 |  |  | (883 | ) |  | 828,142 |
Cash and restricted cash | 6,883 |  |  | — |  |  | — |  |  | 6,883 |
Certificates of deposit | 16,596 |  |  | — |  |  | — |  |  | 16,596 |
Total cash and investments | $ | 852,322 |  |  | $ | 182 |  |  | $ | (883 | ) |  | $ | 851,621 |
Gains and losses on the sales of investments available-for-sale were nominal during the three and nine months ended September 30, 2019 and 2018. The fair value and gross unrealized losses on investments available-for-sale in an unrealized loss position were as follows (in thousands):
| September 30, 2019
| In an Unrealized Loss Position Less than 12 Months |  | In an Unrealized Loss Position 12 Months or Greater |  | Total
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Corporate bonds | $ | 73,064 |  |  | $ | (66 | ) |  | $ | 4,398 |  |  | $ | (1 | ) |  | $ | 77,462 |  |  | $ | (67 | )
U.S. Treasury and government sponsored enterprises | 46,744 |  |  | (24 | ) |  | — |  |  | — |  |  | 46,744 |  |  | (24 | )
Total | $ | 119,808 |  |  | $ | (90 | ) |  | $ | 4,398 |  |  | $ | (1 | ) |  | $ | 124,206 |  |  | $ | (91 | )
| December 31, 2018
| In an Unrealized Loss Position Less than 12 Months |  | In an Unrealized Loss Position 12 Months or Greater |  | Total
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Corporate bonds | $ | 236,162 |  |  | $ | (606 | ) |  | $ | 39,627 |  |  | $ | (251 | ) |  | $ | 275,789 |  |  | $ | (857 | )
U.S. Treasury and government sponsored enterprises | 28,105 |  |  | (16 | ) |  | 9,182 |  |  | (9 | ) |  | 37,287 |  |  | (25 | )
Commercial paper | 7,091 |  |  | (1 | ) |  | — |  |  | — |  |  | 7,091 |  |  | (1 | )
Total | $ | 271,358 |  |  | $ | (623 | ) |  | $ | 48,809 |  |  | $ | (260 | ) |  | $ | 320,167 |  |  | $ | (883 | )
There were 43 and 199 investments in an unrealized loss position as of September 30, 2019 and December 31, 2018, respectively. During the three and nine months ended September 30, 2019 and 2018 we did no t record any other-than-temporary impairment charges on our available-for-sale securities. Based upon our quarterly impairment review, we determined that the unrealized losses were not attributed to credit risk, but were primarily associated with changes in interest rates. Based on the scheduled maturities of our investments and our determination that it was more likely than not that we will hold these investments for a period of time sufficient for a recovery of our cost basis, we concluded that the unrealized losses in our investment securities were not other-than-temporary. The fair value of investments available-for-sale by contractual maturity were as follows (in thousands):
| September 30, 2019 |  | December 31, 2018
Maturing in one year or less | $ | 743,768 |  |  | $ | 674,455 |
Maturing after one year through five years | 474,569 |  |  | 153,687 |
Total investments available-for-sale | $ | 1,218,337 |  |  | $ | 828,142 |
Related Party Transactions BlackRock, Inc. (BlackRock), a global provider of investment, advisory and risk management solutions, reported that as of December 31, 2018, the most recent date for which they reported ownership data, their beneficial ownership was more than 10% of our outstanding common stock. BlackRock manages a portion of our cash and investments portfolio. As of September 30, 2019 and December 31, 2018, respectively, the fair value of cash and investments managed by BlackRock was $470.8 million and $298.5 million, which included $1.9 million and $3.0 million invested in the BlackRock Liquidity Money Market Fund. As of September 30, 2019, we also had a $9.0 million payable to BlackRock for unsettled trades that was included in Other current liabilities in the accompanying Condensed Consolidated Balance Sheets. We incurred $0.2 million in fees for BlackRock advisory services performed during the nine months ended September 30, 2019.

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