XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Fair Value of Financial Instruments (Tables) | 12 Months Ended
--- | ---
Jan. 01, 2022
Fair Value of Financial Instruments |
Summary of valuation of the financial instruments | The following summarizes the valuation of the Company’s financial instruments (in thousands). The tables do not include either cash on hand or assets and liabilities that are measured at historical cost or any basis other than fair value. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements | ​ | ​ | ​
​ | ​ | at January 1, 2022 Using | ​ | ​ | ​
​ | ​ | Quoted Prices in | ​ | Significant Other | ​ | Significant | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs | ​ | ​ | ​
Description |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total
Assets: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 845,740 | ​ | $ | — | ​ | $ | — | ​ | $ | 845,740
Corporate debt securities | ​ | ​ | — | ​ | ​ | 3,552 | ​ | ​ | — | ​ | ​ | 3,552
Government debt securities | ​ | ​ | — | ​ | ​ | 2,950 | ​ | ​ | — | ​ | ​ | 2,950
Total cash equivalents | ​ | $ | 845,740 | ​ | $ | 6,502 | ​ | $ | — | ​ | $ | 852,242
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government debt securities | ​ | $ | 71,509 | ​ | $ | 119,612 | ​ | $ | — | ​ | $ | 191,121
Corporate debt securities | ​ | ​ | — | ​ | ​ | 773,461 | ​ | ​ | — | ​ | ​ | 773,461
Total short-term investments | ​ | $ | 71,509 | ​ | $ | 893,073 | ​ | $ | — | ​ | $ | 964,582
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other assets, net: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Auction rate securities | ​ | $ | — | ​ | $ | — | ​ | $ | 4,980 | ​ | $ | 4,980
Total | ​ | $ | — | ​ | $ | — | ​ | $ | 4,980 | ​ | $ | 4,980
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 917,249 | ​ | $ | 899,575 | ​ | $ | 4,980 | ​ | $ | 1,821,804
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements | ​ | ​ | ​
​ | ​ | at January 2, 2021 Using | ​ | ​ | ​
​ | ​ | Quoted Prices in | ​ | Significant Other | ​ | Significant | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | Inputs | ​ | ​ | ​
Description |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total
Assets: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 75,606 | ​ | $ | — | ​ | $ | — | ​ | $ | 75,606
Corporate debt securities | ​ | ​ | — | ​ |  | 14,995 | ​ |  | — | ​ |  | 14,995
Government debt securities | ​ | ​ | 2,355 | ​ | ​ | 2,564 | ​ | ​ | — | ​ | ​ | 4,919
Total cash equivalents | ​ | $ | 77,961 | ​ | $ | 17,559 | ​ | $ | — | ​ | $ | 95,520
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government debt securities | ​ | $ | 38,461 | ​ | $ | 104,112 | ​ | $ | — | ​ | $ | 142,573
Corporate debt securities | ​ | ​ | — | ​ | ​ | 379,390 | ​ | ​ | — | ​ | ​ | 379,390
Total short-term investments | ​ | $ | 38,461 | ​ | $ | 483,502 | ​ | $ | — | ​ | $ | 521,963
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other assets, net: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Auction rate securities | ​ | $ | — | ​ | $ | — | ​ | $ | 5,340 | ​ | $ | 5,340
Total | ​ | $ | — | ​ | $ | — | ​ | $ | 5,340 | ​ | $ | 5,340
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 116,422 | ​ | $ | 501,061 | ​ | $ | 5,340 | ​ | $ | 622,823
Schedule of maturities of the Company's available-for-sale investments and money market funds | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Fair
​ | ​ | Cost | ​ | Value
Due in one year or less | ​ | $ | 578,734 | ​ | $ | 578,666
Due after one year through ten years | ​ | ​ | 394,391 | ​ | ​ | 392,417
Due after ten years | ​ | ​ | 6,000 | ​ | ​ | 4,980
​ | ​ | $ | 979,125 | ​ | $ | 976,063
Schedule of available-for-sale investments in continuous unrealized loss position by length of time | The available-for-sale investments that were in a continuous unrealized loss position, aggregated by length of time that individual securities have been in a continuous loss position, were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
As of January 1, 2022 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Government debt securities | ​ | $ | 126,957 | ​ | $ | (750) | ​ | $ | — | ​ | $ | — | ​ | $ | 126,957 | ​ | $ | (750)
Corporate debt securities | ​ |  | 418,917 | ​ |  | (1,451) | ​ |  | 326 | ​ |  | (1) | ​ |  | 419,243 | ​ |  | (1,452)
Auction rate securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,980 | ​ | ​ | (1,020) | ​ | ​ | 4,980 | ​ | ​ | (1,020)
​ | ​ | $ | 545,874 | ​ | $ | (2,201) | ​ | $ | 5,306 | ​ | $ | (1,021) | ​ | $ | 551,180 | ​ | $ | (3,222)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
As of January 2, 2021 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Government debt securities | ​ | $ | 10,146 | ​ | $ | (5) | ​ | $ | — | ​ | $ | — | ​ | $ | 10,146 | ​ | $ | (5)
Corporate debt securities | ​ |  | 51,909 | ​ | ​ | (74) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 51,909 | ​ | ​ | (74)
Auction rate securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,340 | ​ | ​ | (660) | ​ | ​ | 5,340 | ​ | ​ | (660)
​ | ​ | $ | 62,055 | ​ | $ | (79) | ​ | $ | 5,340 | ​ | $ | (660) | ​ | $ | 67,395 | ​ | $ | (739)
Summary of quantitative information about level 3 fair value measurements | Auction rate securities
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair Value at | ​ | ​ | ​ | ​ | ​ | ​
January 1, 2022 | ​ | ​ | ​ | ​ | ​ | ​
(000s) |  | Valuation Technique |  | Unobservable Input |  | Weighted Average
$ | 4,980 |  | Discounted cash flow |  | Estimated yield |  | 1.07%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Expected holding period | ​ | 10 years
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Estimated discount rate |  | 2.45%
Summary of activity in Level 3 financial instruments | Assets ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended
​ |  | January 1, | ​ | January 2,
Auction Rate Securities |  | 2022 |  | 2021
Beginning balance | ​ | $ | 5,340 | ​ | $ | 5,647
Losses included in other comprehensive income (loss) | ​ |  | (360) | ​ |  | (307)
Ending balance | ​ | $ | 4,980 | ​ | $ | 5,340

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
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/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration