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Cash, Cash Equivalents, and Investments (Tables) | 9 Months Ended
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Oct. 02, 2022
Cash and Cash Equivalents [Abstract] |
Components of Cash, Cash Equivalents, and Investments | Cash, cash equivalents, and investments consisted of the following (in thousands):
| October 2, 2022 |  | December 31, 2021
Cash | $ | 265,500 |  |  | $ | 185,624 |
Money market instruments | 504 |  |  | 537 |
Cash and cash equivalents | 266,004 |  |  | 186,161 |
Corporate bonds | 151,014 |  |  | 73,088 |
Asset-backed securities | 28,119 |  |  | 37,655 |
Agency bonds | 15,759 |  |  | 2,802 |
Treasury bills | 12,918 |  |  | 18,912 |
Municipal bonds | 620 |  |  | 4,998 |
Current investments | 208,430 |  |  | 137,455 |
Corporate bonds | 304,206 |  |  | 481,218 |
Asset-backed securities | 28,389 |  |  | 43,940 |
Treasury bills | 8,673 |  |  | 39,753 |
Sovereign bonds | 1,930 |  |  | 2,119 |
Agency bonds | — |  |  | 16,077 |
Municipal bonds | — |  |  | 641 |
Non-current investments | 343,198 |  |  | 583,748 |
| $ | 817,632 |  |  | $ | 907,364 |
Summary of Available-for-Sale Investments | The following table summarizes the Company’s available-for-sale investments as of October 2, 2022 (in thousands):
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Current: |  |  |  |  |  |  |
Corporate bonds | $ | 154,399 |  |  | $ | — |  |  | $ | (3,385) |  |  | $ | 151,014 |
Asset-backed securities | 28,764 |  |  | — |  |  | (645) |  |  | 28,119 |
Agency bonds | 16,140 |  |  | — |  |  | (381) |  |  | 15,759 |
Treasury bills | 13,106 |  |  | 1 |  |  | (189) |  |  | 12,918 |
Municipal bonds | 635 |  |  | — |  |  | (15) |  |  | 620 |
Non-current: |  |  |  |  |  |  |
Corporate bonds | 328,548 |  |  | — |  |  | (24,342) |  |  | 304,206 |
Asset-backed securities | 30,227 |  |  | — |  |  | (1,838) |  |  | 28,389 |
Treasury bills | 8,987 |  |  | — |  |  | (314) |  |  | 8,673 |
Sovereign bonds | 2,106 |  |  | — |  |  | (176) |  |  | 1,930 |
| $ | 582,912 |  |  | $ | 1 |  |  | $ | (31,285) |  |  | $ | 551,628 |
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 October 2, 2022 (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 | $ | 390,656 |  |  | $ | (23,263) |  |  | $ | 64,564 |  |  | $ | (4,464) |  |  | $ | 455,220 |  |  | $ | (27,727) |
Asset-backed securities | 56,125 |  |  | (2,455) |  |  | 383 |  |  | (28) |  |  | 56,508 |  |  | (2,483) |
Treasury bills | 19,427 |  |  | (499) |  |  | 101 |  |  | (4) |  |  | 19,528 |  |  | (503) |
Agency bonds | 15,759 |  |  | (381) |  |  | — |  |  | — |  |  | 15,759 |  |  | (381) |
Sovereign bonds | 1,930 |  |  | (176) |  |  | — |  |  | — |  |  | 1,930 |  |  | (176) |
Municipal bonds | 620 |  |  | (15) |  |  | — |  |  | — |  |  | 620 |  |  | (15) |
| $ | 484,517 |  |  | $ | (26,789) |  |  | $ | 65,048 |  |  | $ | (4,496) |  |  | $ | 549,565 |  |  | $ | (31,285) |
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 October 2, 2022 (in thousands):
| <1 year |  | 1-2 Years |  | 2-3 Years |  | 3-4 Years |  | 4-5 Years |  |  |  | Total
Corporate bonds | $ | 151,014 |  |  | $ | 157,264 |  |  | $ | 104,838 |  |  | $ | 42,104 |  |  | $ | — |  |  |  |  | $ | 455,220 |
Asset-backed securities | 28,119 |  |  | 16,384 |  |  | 3,202 |  |  | 8,803 |  |  | — |  |  |  |  | 56,508 |
Treasury bills | 12,918 |  |  | 6,265 |  |  | 2,408 |  |  | — |  |  | — |  |  |  |  | 21,591 |
Agency bonds | 15,759 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 15,759 |
Sovereign bonds | — |  |  | 970 |  |  | — |  |  | 960 |  |  | — |  |  |  |  | 1,930 |
Municipal bonds | 620 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 620 |
| $ | 208,430 |  |  | $ | 180,883 |  |  | $ | 110,448 |  |  | $ | 51,867 |  |  | $ | — |  |  |  |  | $ | 551,628 |

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 + Details
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