XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.25.1

Financial Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 30, 2025
Fair Value Disclosures [Abstract] |
Summary of Available-for-Sale Investments | The following table summarizes the Company’s cash, cash equivalents, and investments as of March 30, 2025 (in thousands):
|  | Fair Value Level |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Current Investments |  | Non-current Investments
Cash |  |  |  | $ | 121,283 |  |  | $ | — |  |  | $ | — |  |  | $ | 121,283 |  |  | $ | 121,283 |  |  | $ | — |  |  | $ | — |
Money market instruments |  | Level 1 |  | 482 |  |  | — |  |  | — |  |  | 482 |  |  | 482 |  |  | — |  |  | — |
Certificate of deposit |  | Level 2 |  | 20,979 |  |  | — |  |  | — |  |  | 20,979 |  |  | 20,979 |  |  | — |  |  | — |
Treasury bills |  | Level 2 |  | 1,000 |  |  | — |  |  | — |  |  | 1,000 |  |  | 1,000 |  |  | — |  |  | — |
Corporate bonds |  | Level 2 |  | 317,385 |  |  | 1,193 |  |  | (2,041) |  |  | 316,537 |  |  | — |  |  | 47,220 |  |  | 269,317 |
Treasury notes |  | Level 2 |  | 33,827 |  |  | 43 |  |  | (77) |  |  | 33,793 |  |  | — |  |  | 2,495 |  |  | 31,298 |
Asset-backed securities |  | Level 2 |  | 18,139 |  |  | 25 |  |  | (474) |  |  | 17,690 |  |  | — |  |  | 5,995 |  |  | 11,695 |
Sovereign bonds |  | Level 2 |  | 1,007 |  |  | — |  |  | (14) |  |  | 993 |  |  | — |  |  | 993 |  |  | — |
Total |  |  |  | $ | 514,102 |  |  | $ | 1,261 |  |  | $ | (2,606) |  |  | $ | 512,757 |  |  | $ | 143,744 |  |  | $ | 56,703 |  |  | $ | 312,310 |
The following table summarizes the Company’s cash, cash equivalents, and investments as of December 31, 2024 (in thousands):
|  | Fair Value Level |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Current Investments |  | Non-current Investments
Cash |  |  |  | $ | 170,852 |  |  | $ | — |  |  | $ | — |  |  | $ | 170,852 |  |  | $ | 170,852 |  |  | $ | — |  |  | $ | — |
Money market instruments |  | Level 1 |  | 15,242 |  |  | — |  |  | — |  |  | 15,242 |  |  | 15,242 |  |  | — |  |  | — |
Corporate bonds |  | Level 2 |  | 344,804 |  |  | 411 |  |  | (4,299) |  |  | 340,916 |  |  | — |  |  | 55,742 |  |  | 285,174 |
Treasury notes |  | Level 2 |  | 46,071 |  |  | 2 |  |  | (439) |  |  | 45,634 |  |  | — |  |  | 2,487 |  |  | 43,147 |
Asset-backed securities |  | Level 2 |  | 13,870 |  |  | — |  |  | (556) |  |  | 13,314 |  |  | — |  |  | 737 |  |  | 12,577 |
Sovereign bonds |  | Level 2 |  | 1,013 |  |  | — |  |  | (23) |  |  | 990 |  |  | — |  |  | 990 |  |  | — |
Total |  |  |  | $ | 591,852 |  |  | $ | 413 |  |  | $ | (5,317) |  |  | $ | 586,948 |  |  | $ | 186,094 |  |  | $ | 59,956 |  |  | $ | 340,898 |
Realized Gain (Loss) on Investments | The following table summarizes the Company's gross realized gains and losses on the sale of debt securities for the three-month periods ended March 30, 2025 and March 31, 2024 (in thousands):
|  |  |  | Three-months Ended
|  |  |  |  |  | March 30, 2025 |  | March 31, 2024
Gross realized gains |  |  |  |  |  | $ | 27 |  |  | $ | 2 |
Gross realized losses |  |  |  |  |  | — |  |  | — |
Net realized gains (losses) |  |  |  |  |  | $ | 27 |  |  | $ | 2 |
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 March 30, 2025 (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 | $ | 123,585 |  |  | $ | (1,562) |  |  | $ | 31,418 |  |  | $ | (479) |  |  | $ | 155,003 |  |  | $ | (2,041) |
Treasury notes | 16,340 |  |  | (78) |  |  | — |  |  | — |  |  | 16,340 |  |  | (78) |
Asset-backed securities | 11,064 |  |  | (474) |  |  | — |  |  | — |  |  | 11,064 |  |  | (474) |
Sovereign bonds | — |  |  | — |  |  | 993 |  |  | (13) |  |  | 993 |  |  | (13) |
| $ | 150,989 |  |  | $ | (2,114) |  |  | $ | 32,411 |  |  | $ | (492) |  |  | $ | 183,400 |  |  | $ | (2,606) |
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 December 31, 2024 (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 | $ | 172,049 |  |  | $ | (2,227) |  |  | $ | 87,815 |  |  | $ | (2,071) |  |  | $ | 259,864 |  |  | $ | (4,298) |
Treasury notes | 42,149 |  |  | (425) |  |  | 2,487 |  |  | (14) |  |  | 44,636 |  |  | (439) |
Asset-backed securities | 11,024 |  |  | (547) |  |  | 2,290 |  |  | (10) |  |  | 13,314 |  |  | (557) |
Sovereign bonds | — |  |  | — |  |  | 990 |  |  | (23) |  |  | 990 |  |  | (23) |
| $ | 225,222 |  |  | $ | (3,199) |  |  | $ | 93,582 |  |  | $ | (2,118) |  |  | $ | 318,804 |  |  | $ | (5,317) |
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 March 30, 2025 (in thousands):
| <1 year |  | 1-2 Years |  | 2-3 Years |  | 3-4 Years |  | 4-5 Years |  | 5-8 Years |  | Total
Corporate bonds | $ | 47,220 |  |  | $ | 66,394 |  |  | $ | 89,734 |  |  | $ | 74,522 |  |  | $ | 38,667 |  |  | $ | — |  |  | $ | 316,537 |
Treasury notes | 2,495 |  |  | 10,179 |  |  | 16,297 |  |  | 4,822 |  |  | — |  |  | — |  |  | 33,793 |
Asset-backed securities | 5,995 |  |  | — |  |  | 3,216 |  |  | 3,409 |  |  | 4,944 |  |  | 126 |  |  | 17,690 |
Sovereign bonds | 993 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 993 |
| $ | 56,703 |  |  | $ | 76,573 |  |  | $ | 109,247 |  |  | $ | 82,753 |  |  | $ | 43,611 |  |  | $ | 126 |  |  | $ | 369,013 |
Schedule of Notional Amounts of Outstanding Derivative Positions | The Company had the following outstanding forward contracts (in thousands):
| March 30, 2025 |  | December 31, 2024
Currency | Notional Value |  | USD Equivalent |  | Notional Value |  | USD Equivalent
Derivatives Not Designated as Hedging Instruments: |  |  |  |
Singapore Dollar | 35,000 |  |  | $ | 26,143 |  |  | 40,000 |  |  | $ | 29,457 |
Euro | 20,000 |  |  | 21,682 |  |  | 25,000 |  |  | 26,029 |
Japanese Yen | 1,500,000 |  |  | 10,015 |  |  | 2,000,000 |  |  | 12,789 |
Chinese Renminbi | 70,000 |  |  | 9,632 |  |  | 95,000 |  |  | 12,990 |
Hungarian Forint | 2,200,000 |  |  | 5,913 |  |  | 2,360,000 |  |  | 5,951 |
British Pound | 3,000 |  |  | 3,879 |  |  | 3,200 |  |  | 4,008 |
Swiss Franc | 1,000 |  |  | 1,137 |  |  | 2,200 |  |  | 2,432 |
Canadian Dollar | 1,500 |  |  | 1,050 |  |  | 2,000 |  |  | 1,390 |
Mexican Peso | — |  |  | — |  |  | 220,000 |  |  | 10,701 |
Offsetting Assets | Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):
|  |  | Asset Derivatives |  |  | Liability Derivatives
|  |  |  |  | Fair Value |  |  |  |  | Fair Value
|  | Balance Sheet Location | Fair Value Level |  | March 30, 2025 |  | December 31, 2024 |  | Balance Sheet Location | Fair Value Level |  | March 30, 2025 |  | December 31, 2024
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |  |
Economic hedge forward contracts |  | Prepaid expenses and other current assets | Level 2 |  | $ | 188 |  |  | $ | 324 |  |  | Accrued expenses | Level 2 |  | $ | 23 |  |  | $ | 211 |
Activity: |  |  |  |  |  |  |
Gross amounts recognized | $ | 188 |  |  | $ | 324 |  |  |  |  |  | $ | 23 |  |  | $ | 211 |
Gross amounts offset | — |  |  | — |  |  |  |  |  | — |  |  | — |
Net amounts presented | $ | 188 |  |  | $ | 324 |  |  |  |  |  | $ | 23 |  |  | $ | 211 |
Derivative Instruments, Gain (Loss) | Information regarding the effect of derivative instruments on the Consolidated Statement of Operations was as follows (in thousands):
|  | Statement of Operations Location |  |  |  | Three-months Ended
|  |  |  |  |  |  | March 30, 2025 |  | March 31, 2024
Derivatives Not Designated as Hedging Instruments: |  |  |
Gains (losses) recognized in current operations |  | Foreign currency gain (loss) |  |  |  |  |  | $ | (547) |  |  | $ | (245) |

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-7A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-10 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-22 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-21 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483444/210-20-55-20 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-3 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-4 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized gains and losses on investments reported in the statement of income. + References No definition available. + Details
Name: | us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration