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Cash, Cash Equivalents, and Investments (Tables) | 9 Months Ended
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Sep. 27, 2020
Cash and Cash Equivalents [Abstract] |
Components of Cash, Cash Equivalents, and Investments | Cash, cash equivalents, and investments consisted of the following (in thousands):
| September 27, 2020 |  | December 31, 2019
Cash | $ | 294,430 |  |  | $ | 155,498 |
Money market instruments | 3,926 |  |  | 15,933 |
Cash and cash equivalents | 298,356 |  |  | 171,431 |
Corporate bonds | 43,436 |  |  | 65,624 |
Asset-backed securities | 34,536 |  |  | 66,680 |
Sovereign bonds | 16,086 |  |  | 6,294 |
Municipal bonds | 1,307 |  |  | 4,630 |
Treasury bills | — |  |  | 92,914 |
Certificate of deposit | — |  |  | 4,328 |
Current investments | 95,365 |  |  | 240,470 |
Treasury bills | 270,091 |  |  | 216,334 |
Corporate bonds | 216,451 |  |  | 146,474 |
Asset-backed securities | 95,007 |  |  | 46,403 |
Agency bonds | 28,274 |  |  | 5,914 |
Sovereign bonds | 8,410 |  |  | 16,005 |
Municipal bonds | 1,110 |  |  | 2,322 |
Non-current investments | 619,343 |  |  | 433,452 |
| $ | 1,013,064 |  |  | $ | 845,353 |
Summary of Available-for-Sale Investments | The following table summarizes the Company’s available-for-sale investments as of September 27, 2020 (in thousands):
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Current: |  |  |  |  |  |  |
Corporate bonds | $ | 43,208 |  |  | $ | 254 |  |  | $ | (26) |  |  | $ | 43,436 |
Asset-backed securities | 34,277 |  |  | 259 |  |  | — |  |  | 34,536 |
Sovereign bonds | 15,978 |  |  | 108 |  |  | — |  |  | 16,086 |
Municipal bonds | 1,298 |  |  | 9 |  |  | — |  |  | 1,307 |
Non-current: |  |  |  |  |  |  |
Treasury bills | 268,071 |  |  | 2,030 |  |  | (10) |  |  | 270,091 |
Corporate bonds | 213,850 |  |  | 2,717 |  |  | (116) |  |  | 216,451 |
Asset-backed securities | 94,270 |  |  | 737 |  |  | — |  |  | 95,007 |
Agency bonds | 28,193 |  |  | 81 |  |  | — |  |  | 28,274 |
Sovereign bonds | 8,349 |  |  | 61 |  |  | — |  |  | 8,410 |
Municipal bonds | 1,105 |  |  | 5 |  |  | — |  |  | 1,110 |
| $ | 708,599 |  |  | $ | 6,261 |  |  | $ | (152) |  |  | $ | 714,708 |
Gross Unrealized Losses and Fair Values for Available-for-Sale Investments | The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of September 27, 2020 (in thousands):
| Unrealized Loss Position For: |  |  |  |  |  |  |  |  |  |
| Less than 12 Months |  |  |  | 12 Months or Greater |  |  |  | Total |  |
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Corporate bonds | $ | 42,058 |  |  | $ | (142) |  |  | $ | — |  |  | $ | — |  |  | $ | 42,058 |  |  | $ | (142) |
Treasury bills | 11,543 |  |  | (10) |  |  | — |  |  | — |  |  | 11,543 |  |  | (10) |
| $ | 53,601 |  |  | $ | (152) |  |  | $ | — |  |  | $ | — |  |  | $ | 53,601 |  |  | $ | (152) |
Schedule of Allowance for Credit Loss Activity | The following table summarizes the allowance for credit losses activity for the nine-month period ended September 27, 2020 (in thousands):
Balance as of December 31, 2019 | $ | — |
Increases to the allowance for credit losses | 160 |
Decreases to the allowance for credit losses | (85) |
Write-offs | — |
Balance as of September 27, 2020 | $ | 75 |
Effective Maturity Dates of Available-for-Sale Investments | The following table presents the effective maturity dates of the Company’s available-for-sale investments as of September 27, 2020 (in thousands):
| <1 year |  | 1-2 Years |  | 2-3 Years |  | 3-4 Years |  | 4-5 Years |  |  |  | Total
Treasury bills | $ | — |  |  | $ | 167,677 |  |  | $ | 98,353 |  |  | $ | 4,061 |  |  | $ | — |  |  |  |  | $ | 270,091 |
Corporate bonds | 43,436 |  |  | 86,619 |  |  | 126,966 |  |  | 2,866 |  |  | — |  |  |  |  | 259,887 |
Asset-backed securities | 34,536 |  |  | 45,513 |  |  | 45,457 |  |  | 52 |  |  | 3,985 |  |  |  |  | 129,543 |
Agency bonds | — |  |  | 5,933 |  |  | 22,341 |  |  | — |  |  | — |  |  |  |  | 28,274 |
Sovereign bonds | 16,086 |  |  | 4,973 |  |  | 3,437 |  |  | — |  |  | — |  |  |  |  | 24,496 |
Municipal bonds | 1,307 |  |  | 1,110 |  |  | — |  |  | — |  |  | — |  |  |  |  | 2,417 |
| $ | 95,365 |  |  | $ | 311,825 |  |  | $ | 296,554 |  |  | $ | 6,979 |  |  | $ | 3,985 |  |  |  |  | $ | 714,708 |

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