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Cash and Investments (Tables)

3 Months Ended

Apr. 03, 2020

Investments, Debt and Equity Securities [Abstract]

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash equivalents 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):

	March 31, 2020				December 31, 2019
Cash and cash equivalents	$	357,340			$	266,501
Restricted cash equivalents included in long-term investments	1,636				1,636
Cash, cash equivalents, and restricted cash equivalents as reported within the accompanying Condensed Consolidated Statements of Cash Flows	$	358,976			$	268,137

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash equivalents 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):

	March 31, 2020				December 31, 2019
Cash and cash equivalents	$	357,340			$	266,501
Restricted cash equivalents included in long-term investments	1,636				1,636
Cash, cash equivalents, and restricted cash equivalents as reported within the accompanying Condensed Consolidated Statements of Cash Flows	$	358,976			$	268,137

Investments by Security Type

Cash and investments consisted of the following (in thousands):

	March 31, 2020
	Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Debt securities available-for-sale:
Commercial paper	$	202,452			$	—			$	—			$	202,452
Corporate bonds	741,315				2,404				(3,448		)		740,271
U.S. Treasury and government-sponsored enterprises	152,922				788				—				153,710
Municipal bonds	15,148				140				—				15,288
Total debt securities available-for-sale	1,111,837				3,332				(3,448		)		1,111,721
Cash	8,905				—				—				8,905
Money market funds	273,497				—				—				273,497
Certificates of deposit	46,279				2				—				46,281
Total cash and investments	$	1,440,518			$	3,334			$	(3,448	)		$	1,440,404

	December 31, 2019
	Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Debt securities available-for-sale:
Commercial paper	$	389,573			$	—			$	—			$	389,573
Corporate bonds	752,295				3,934				(3		)		756,226
U.S. Treasury and government-sponsored enterprises	166,483				187				(5		)		166,665
Total debt securities available-for-sale	1,308,351				4,121				(8		)		1,312,464
Cash	40,964				—				—				40,964
Money market funds	2,467				—				—				2,467
Certificates of deposit	32,728				5				—				32,733
Total cash and investments	$	1,384,510			$	4,126			$	(8	)		$	1,388,628

Fair Value and Gross Unrealized Losses of Investments Available-for-Sale in an Unrealized Loss Position

The fair value and gross unrealized losses on investment securities available-for-sale in an unrealized loss position were as follows (in thousands):

	March 31, 2020
	Fair Value				Gross Unrealized Losses
Corporate bonds	$	351,135			$	(3,448	)
Total	$	351,135			$	(3,448	)

	December 31, 2019
	Fair Value				Gross Unrealized Losses
Corporate bonds	$	14,529			$	(3	)
U.S. Treasury and government-sponsored enterprises	2,848				(5		)
Total	$	17,377			$	(8	)

Fair Value of Cash Equivalents and Investments by Contractual Maturity

The fair value of debt securities available-for-sale by contractual maturity was as follows (in thousands):

	March 31, 2020				December 31, 2019
Maturing in one year or less	$	641,070			$	789,913
Maturing after one year through five years	470,651				522,551
Total debt securities available-for-sale	$	1,111,721			$	1,312,464

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

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