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Cash And Marketable Securities | 9 Months Ended
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Oct. 03, 2025
Investments, Debt and Equity Securities [Abstract] |
CASH AND MARKETABLE SECURITIES | CASH AND MARKETABLE SECURITIES Cash, Cash Equivalents and Marketable Securities Cash, cash equivalents and marketable securities consisted of the following (in thousands):
| September 30, 2025
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt securities available-for-sale: |  |  |  |  |  |  |
Commercial paper | $ | 226,314 |  |  | $ | — |  |  | $ | — |  |  | $ | 226,314 |
Corporate bonds | 847,895 |  |  | 4,328 |  |  | (27) |  |  | 852,196 |
U.S. Treasury and government-sponsored enterprises | 171,042 |  |  | 669 |  |  | (50) |  |  | 171,661 |
Municipal bonds | 8,715 |  |  | 46 |  |  | — |  |  | 8,761 |
Total debt securities available-for-sale | 1,253,966 |  |  | 5,043 |  |  | (77) |  |  | 1,258,932 |
Money market funds | 222,394 |  |  | — |  |  | — |  |  | 222,394 |
Certificates of deposit | 85,496 |  |  | — |  |  | — |  |  | 85,496 |
Total cash, cash equivalents and marketable securities | $ | 1,561,856 |  |  | $ | 5,043 |  |  | $ | (77) |  |  | $ | 1,566,822 |
| December 31, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt securities available-for-sale: |  |  |  |  |  |  |
Commercial paper | $ | 172,891 |  |  | $ | — |  |  | $ | — |  |  | $ | 172,891 |
Corporate bonds | 1,012,035 |  |  | 1,498 |  |  | (2,167) |  |  | 1,011,366 |
U.S. Treasury and government-sponsored enterprises | 339,126 |  |  | 226 |  |  | (959) |  |  | 338,393 |
Municipal bonds | 2,990 |  |  | 11 |  |  | — |  |  | 3,001 |
Total debt securities available-for-sale | 1,527,042 |  |  | 1,735 |  |  | (3,126) |  |  | 1,525,651 |
Money market funds | 145,690 |  |  | — |  |  | — |  |  | 145,690 |
Certificates of deposit | 77,226 |  |  | — |  |  | — |  |  | 77,226 |
Total cash, cash equivalents and marketable securities | $ | 1,749,958 |  |  | $ | 1,735 |  |  | $ | (3,126) |  |  | $ | 1,748,567 |
Interest receivable was $11.4 million and $14.9 million as of September 30, 2025 and December 31, 2024, respectively, and is included in prepaid expenses and other current assets in the accompanying Condensed Consolidated Balance Sheets. Realized gains and losses on the sales of marketable securities were immaterial during the three and nine months ended September 30, 2025 and 2024. We manage credit risk associated with our marketable securities portfolio through our investment policy, which limits purchases to high-quality issuers and 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):
| September 30, 2025
| 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 | $ | 31,172 |  |  | $ | (14) |  |  | $ | 14,028 |  |  | $ | (13) |  |  | $ | 45,200 |  |  | $ | (27) |
U.S. Treasury and government-sponsored enterprises | 8,607 |  |  | (8) |  |  | 20,889 |  |  | (42) |  |  | 29,496 |  |  | (50) |
Total | $ | 39,779 |  |  | $ | (22) |  |  | $ | 34,917 |  |  | $ | (55) |  |  | $ | 74,696 |  |  | $ | (77) |
| December 31, 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 | $ | 370,065 |  |  | $ | (1,630) |  |  | $ | 160,887 |  |  | $ | (537) |  |  | $ | 530,952 |  |  | $ | (2,167) |
U.S. Treasury and government-sponsored enterprises | 125,224 |  |  | (755) |  |  | 56,984 |  |  | (204) |  |  | 182,208 |  |  | (959) |
Total | $ | 495,289 |  |  | $ | (2,385) |  |  | $ | 217,871 |  |  | $ | (741) |  |  | $ | 713,160 |  |  | $ | (3,126) |
There were 26 and 255 debt securities available-for-sale in an unrealized loss position as of September 30, 2025 and December 31, 2024, respectively. During the three and nine months ended September 30, 2025, we did not record an allowance for credit losses or other impairment charges on our marketable 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 marketable securities, we determined that it was more likely than not that we will hold these marketable securities for a period of time sufficient for a recovery of our cost basis. The fair values of debt securities available-for-sale by contractual maturity were as follows (in thousands):
| September 30, 2025 |  | December 31, 2024
Maturing in one year or less | $ | 680,645 |  |  | $ | 888,360 |
Maturing after one year through five years | 578,287 |  |  | 637,291 |
Total debt securities available-for-sale | $ | 1,258,932 |  |  | $ | 1,525,651 |

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- Definition The entire disclosure for cash, cash equivalent, investment in debt and equity securities, equity method investment, investment in joint venture, and investment classified as other. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 65 -Paragraph 13 -Subparagraph (d)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482477/820-10-65-13 + Details
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