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Cash and Investments (Tables) | 9 Months Ended
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Sep. 29, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investments by Security Type | Cash, cash equivalents and investments consisted of the following (in thousands):
| September 30, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt securities available-for-sale: |  |  |  |  |  |  |
Commercial paper | $ | 386,363 |  |  | $ | — |  |  | $ | — |  |  | $ | 386,363 |
Corporate bonds | 832,075 |  |  | 123 |  |  | (12,103) |  |  | 820,095 |
U.S. Treasury and government-sponsored enterprises | 441,576 |  |  | 4 |  |  | (5,754) |  |  | 435,826 |
Municipal bonds | 6,000 |  |  | — |  |  | (85) |  |  | 5,915 |
Total debt securities available-for-sale | 1,666,014 |  |  | 127 |  |  | (17,942) |  |  | 1,648,199 |
Money market funds | 182,464 |  |  | — |  |  | — |  |  | 182,464 |
Certificates of deposit | 84,404 |  |  | — |  |  | — |  |  | 84,404 |
Total cash, cash equivalents and investments | $ | 1,932,882 |  |  | $ | 127 |  |  | $ | (17,942) |  |  | $ | 1,915,067 |
| December 31, 2022
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt securities available-for-sale: |  |  |  |  |  |  |
Commercial paper | $ | 722,018 |  |  | $ | — |  |  | $ | — |  |  | $ | 722,018 |
Corporate bonds | 810,439 |  |  | 541 |  |  | (13,132) |  |  | 797,848 |
U.S. Treasury and government-sponsored enterprises | 338,218 |  |  | 48 |  |  | (5,679) |  |  | 332,587 |
Municipal bonds | 16,385 |  |  | — |  |  | (223) |  |  | 16,162 |
Total debt securities available-for-sale | 1,887,060 |  |  | 589 |  |  | (19,034) |  |  | 1,868,615 |
Cash | 41 |  |  | — |  |  | — |  |  | 41 |
Money market funds | 94,344 |  |  | — |  |  | — |  |  | 94,344 |
Certificates of deposit | 103,681 |  |  | — |  |  | — |  |  | 103,681 |
Total cash, cash equivalents and investments | $ | 2,085,126 |  |  | $ | 589 |  |  | $ | (19,034) |  |  | $ | 2,066,681 |
Schedule of Fair Value and Gross Unrealized Losses of Investments Available-for-Sale in an Unrealized Loss Position | The fair value and gross unrealized losses on debt securities available-for-sale in an unrealized loss position were as follows (in thousands):
|  |  |  |  |  |  |  |  | September 30, 2023
|  |  |  |  |  |  |  |  | Fair Value |  | Gross Unrealized Losses
Corporate bonds |  |  |  |  |  |  |  |  | $ | 772,154 |  |  | $ | (12,103) |
U.S. Treasury and government-sponsored enterprises |  |  |  |  |  |  |  |  | 420,831 |  |  | (5,754) |
Municipal bonds |  |  |  |  |  |  |  |  | 5,915 |  |  | (85) |
Total |  |  |  |  |  |  |  |  | $ | 1,198,900 |  |  | $ | (17,942) |
|  |  |  |  |  |  |  |  | December 31, 2022
|  |  |  |  |  |  |  |  | Fair Value |  | Gross Unrealized Losses
Corporate bonds |  |  |  |  |  |  |  |  | $ | 706,711 |  |  | $ | (13,132) |
U.S. Treasury and government-sponsored enterprises |  |  |  |  |  |  |  |  | 308,307 |  |  | (5,679) |
Municipal bonds |  |  |  |  |  |  |  |  | 15,792 |  |  | (223) |
Total |  |  |  |  |  |  |  |  | $ | 1,030,810 |  |  | $ | (19,034) |
Schedule of Fair Value of Cash Equivalents and Investments by Contractual Maturity | The fair values of debt securities available-for-sale by contractual maturity were as follows (in thousands):
| September 30, 2023 |  | December 31, 2022
Maturing in one year or less | $ | 836,519 |  |  | $ | 1,114,884 |
Maturing after one year through five years | 811,680 |  |  | 753,731 |
Total debt securities available-for-sale | $ | 1,648,199 |  |  | $ | 1,868,615 |

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