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Cash and Investments (Tables) | 6 Months Ended
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Jun. 28, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investments by Security Type | Cash, cash equivalents and investments consisted of the following (in thousands):
| June 30, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt securities available-for-sale: |  |  |  |  |  |  |
Commercial paper | $ | 189,302 |  |  | $ | — |  |  | $ | — |  |  | $ | 189,302 |
Corporate bonds | 766,321 |  |  | 362 |  |  | (4,593) |  |  | 762,090 |
U.S. Treasury and government-sponsored enterprises | 319,939 |  |  | 1 |  |  | (2,070) |  |  | 317,870 |
Municipal bonds | 7,880 |  |  | — |  |  | (15) |  |  | 7,865 |
Total debt securities available-for-sale | 1,283,442 |  |  | 363 |  |  | (6,678) |  |  | 1,277,127 |
Money market funds | 116,234 |  |  | — |  |  | — |  |  | 116,234 |
Certificates of deposit | 40,943 |  |  | — |  |  | — |  |  | 40,943 |
Total cash, cash equivalents and investments | $ | 1,440,619 |  |  | $ | 363 |  |  | $ | (6,678) |  |  | $ | 1,434,304 |
| December 31, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt securities available-for-sale: |  |  |  |  |  |  |
Commercial paper | $ | 214,016 |  |  | $ | — |  |  | $ | — |  |  | $ | 214,016 |
Corporate bonds | 870,870 |  |  | 1,652 |  |  | (4,277) |  |  | 868,245 |
U.S. Treasury and government-sponsored enterprises | 409,157 |  |  | 414 |  |  | (2,250) |  |  | 407,321 |
Municipal bonds | 7,880 |  |  | 10 |  |  | (49) |  |  | 7,841 |
Total debt securities available-for-sale | 1,501,923 |  |  | 2,076 |  |  | (6,576) |  |  | 1,497,423 |
Money market funds | 154,287 |  |  | — |  |  | — |  |  | 154,287 |
Certificates of deposit | 72,309 |  |  | — |  |  | — |  |  | 72,309 |
Total cash, cash equivalents and investments | $ | 1,728,519 |  |  | $ | 2,076 |  |  | $ | (6,576) |  |  | $ | 1,724,019 |
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):
| June 30, 2024
| 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 | $ | 321,374 |  |  | $ | (1,157) |  |  | $ | 306,630 |  |  | $ | (3,436) |  |  | $ | 628,004 |  |  | $ | (4,593) |
U.S. Treasury and government-sponsored enterprises | 136,614 |  |  | (543) |  |  | 178,290 |  |  | (1,527) |  |  | 314,904 |  |  | (2,070) |
Municipal bonds | 1,869 |  |  | (11) |  |  | 5,996 |  |  | (4) |  |  | 7,865 |  |  | (15) |
Total | $ | 459,857 |  |  | $ | (1,711) |  |  | $ | 490,916 |  |  | $ | (4,967) |  |  | $ | 950,773 |  |  | $ | (6,678) |
| December 31, 2023
| 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 | $ | 255,958 |  |  | $ | (847) |  |  | $ | 281,837 |  |  | $ | (3,430) |  |  | $ | 537,795 |  |  | $ | (4,277) |
U.S. Treasury and government-sponsored enterprises | 163,339 |  |  | (406) |  |  | 155,452 |  |  | (1,844) |  |  | 318,791 |  |  | (2,250) |
Municipal bonds | — |  |  | — |  |  | 5,951 |  |  | (49) |  |  | 5,951 |  |  | (49) |
Total | $ | 419,297 |  |  | $ | (1,253) |  |  | $ | 443,240 |  |  | $ | (5,323) |  |  | $ | 862,537 |  |  | $ | (6,576) |
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):
| June 30, 2024 |  | December 31, 2023
Maturing in one year or less | $ | 844,822 |  |  | $ | 768,706 |
Maturing after one year through five years | 432,305 |  |  | 728,717 |
Total debt securities available-for-sale | $ | 1,277,127 |  |  | $ | 1,497,423 |

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