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Cash and Investments (Tables)

9 Months Ended

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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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479106/326-30-50-4

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