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Cash and Investments | 12 Months Ended
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Jan. 01, 2021
Investments, Debt and Equity Securities [Abstract] |
Cash and Investments | CASH AND INVESTMENTS Cash, Cash Equivalents and Restricted Cash Equivalents A reconciliation of cash, cash equivalents, and restricted cash equivalents reported within our Consolidated Balance Sheets to the amount reported within the accompanying Consolidated Statements of Cash Flows was as follows (in thousands):
| December 31,
| 2020 |  | 2019
Cash and cash equivalents | $ | 319,217 |  |  | $ | 266,501 |
Restricted cash equivalents included in long-term investments | 1,555 |  |  | 1,636 |
Cash, cash equivalents, and restricted cash equivalents as reported within the accompanying Consolidated Statements of Cash Flows | $ | 320,772 |  |  | $ | 268,137 |
Restricted cash equivalents consisted of certificates of deposit with original maturities of 90 days or less used to collateralize letters of credit and, during prior periods, a purchasing card program. The long-term classification of restricted cash equivalents is based upon the remaining term of the underlying restriction. Cash and Investments Cash and investments consisted of the following (in thousands):
| December 31, 2020
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt securities available-for-sale: |  |  |  |  |  |  |
Commercial paper | $ | 569,456 |  |  | $ | 372 |  |  | $ | — |  |  | $ | 569,828 |
Corporate bonds | 543,520 |  |  | 5,244 |  |  | (7) |  |  | 548,757 |
U.S. Treasury and government-sponsored enterprises | 208,326 |  |  | 232 |  |  | (4) |  |  | 208,554 |
Municipal bonds | 28,680 |  |  | 83 |  |  | (1) |  |  | 28,762 |
Total debt securities available-for-sale | 1,349,982 |  |  | 5,931 |  |  | (12) |  |  | 1,355,901 |
Cash | 82,176 |  |  | — |  |  | — |  |  | 82,176 |
Money market funds | 40,761 |  |  | — |  |  | — |  |  | 40,761 |
Certificates of deposit | 60,004 |  |  | — |  |  | — |  |  | 60,004 |
Total cash and investments | $ | 1,532,923 |  |  | $ | 5,931 |  |  | $ | (12) |  |  | $ | 1,538,842 |
| 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 |
Interest receivable was $4.5 million and $6.2 million as of December 31, 2020 and 2019, respectively, and is included in prepaid and other current assets in the accompanying Consolidated Balance Sheets. Realized gains and losses on the sales of investments were insignificant during the years ended December 31, 2020, 2019 and 2018. We manage credit risk associated with our investment portfolio through our investment policy, which limits purchases to high-quality issuers and limits the amount of our portfolio that can be invested in a single issuer. The fair value and gross unrealized losses on debt securities available-for-sale in an unrealized loss position were as follows (in thousands):
| December 31, 2020
| Fair Value |  | Gross Unrealized Losses |  |  |  |  |  |  |  |
Corporate bonds | $ | 28,445 |  |  | $ | (7) |  |  |  |  |  |  |  |  |
U.S. Treasury and government-sponsored enterprises | 21,989 |  |  | (4) |  |  |  |  |  |  |  |  |
Municipal bonds | 5,865 |  |  | (1) |  |  |  |  |  |  |  |  |
Total | $ | 56,299 |  |  | $ | (12) |  |  |  |  |  |  |  |  |
| 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) |  |  |  |  |  |  |  |  |
All securities presented have been in an unrealized loss position for less than 12 months. There were 14 and 9 debt securities in an unrealized loss position as of December 31, 2020 and 2019, respectively. During the years ended December 31, 2020 and 2019, we did not record an allowance for credit losses or other impairment charges on our debt 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 and market liquidity. Based on the scheduled maturities of our investments, we determined 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. The fair value of debt securities available-for-sale by contractual maturity was as follows (in thousands):
| December 31,
| 2020 |  | 2019
Maturing in one year or less | $ | 1,034,150 |  |  | $ | 789,913 |
Maturing after one year through five years | 321,751 |  |  | 522,551 |
Total debt securities available-for-sale | $ | 1,355,901 |  |  | $ | 1,312,464 |

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- Definition The entire disclosure for cash, cash equivalents, investments in debt and equity instruments (including cost and equity investees and related income statement amounts), equity and cost method investments, investments in joint ventures and any other investment. + References No definition available. + Details
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