XML 24 R10.htm IDEA: XBRL DOCUMENT
v3.22.4

Fair Value Measurements | 12 Months Ended
--- | ---
Dec. 31, 2022
Fair Value Disclosures [Abstract] |
Fair Value Measurements | 3. Fair Value Measurements: Fair Value of Financial Instruments The Company has evaluated the estimated fair value of financial instruments using available market information and valuations as provided by third-party sources. The use of different market assumptions and/or estimation methodologies could have a significant effect on the estimated fair value amounts. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximates fair value because of the short-term maturity of these instruments. Fair Value Hierarchy The Company applies a three-level valuation hierarchy for fair value measurements. This hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the asset or liability. Level 3 inputs are unobservable inputs based on management’s assumptions used to measure assets and liabilities at fair value. A financial asset’s or liability’s fair value measurement classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following tables provide the assets and liabilities carried at fair value measured on a recurring basis at December 31, 2022 and January 1, 2022:
|  | Fair Value Measurements Using |
|  | Carrying Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Municipal notes and bonds |  | $ | 178,868 |  |  | $ | — |  |  | $ | 178,868 |  |  | $ | — |
Asset-backed securities |  |  | 1,534 |  |  |  | — |  |  |  | 1,534 |  |  |  | — |
Certificates of deposit |  |  | 52,095 |  |  |  | — |  |  |  | 52,095 |  |  |  | — |
Commercial paper |  |  | 80,079 |  |  |  | — |  |  |  | 80,079 |  |  |  | — |
Corporate bonds |  |  | 59,335 |  |  |  | — |  |  |  | 59,335 |  |  |  | — |
Total assets |  | $ | 371,912 |  |  | $ | — |  |  | $ | 371,912 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  | 135 |  |  | $ | — |  |  |  | 135 |  |  | $ | — |
Total liabilities |  | $ | 135 |  |  | $ | — |  |  | $ | 135 |  |  | $ | — |
|  | Fair Value Measurements Using |
|  | Carrying Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
January 1, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Municipal notes and bonds |  | $ | 170,980 |  |  | $ | — |  |  | $ | 170,980 |  |  | $ | — |
Asset-backed securities |  |  | 2,009 |  |  |  | — |  |  |  | 2,009 |  |  |  | — |
Certificates of deposit |  |  | 33,192 |  |  |  | — |  |  |  | 33,192 |  |  |  | — |
Commercial paper |  |  | 73,113 |  |  |  | — |  |  |  | 73,113 |  |  |  | — |
Corporate bonds |  |  | 62,447 |  |  |  | — |  |  |  | 62,447 |  |  |  | — |
Total assets |  | $ | 341,741 |  |  | $ | — |  |  | $ | 341,741 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 26 |  |  | $ | — |  |  | $ | 26 |  |  | $ | — |
Total liabilities |  | $ | 26 |  |  | $ | — |  |  | $ | 26 |  |  | $ | — |
Available-for-sale debt securities classified as Level 2 are valued using observable inputs to quoted market prices, benchmark yields, reported trades, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. The foreign currency forward contracts are primarily measured based on the foreign currency spot and forward rates quoted by the banks or foreign currency dealers. Investment prices are obtained from third party pricing providers, which model prices utilizing the above observable inputs, for each asset class. See Note 4 for additional discussion regarding the fair value of the Company’s marketable securities.

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 The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration