XML 32 R23.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Fair Value of Financial Instruments (Tables) | 9 Months Ended
--- | ---
Oct. 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 October 1, 2022 Using | ​ | ​ | ​
​ | ​ | Quoted Prices in | ​ | Significant Other | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | ​ | ​
Description |  | (Level 1) |  | (Level 2) |  | Total
Assets: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 301,640 | ​ | $ | — | ​ | $ | 301,640
Government debt securities | ​ | ​ | 12,988 | ​ | ​ | — | ​ | ​ | 12,988
Corporate debt securities | ​ | ​ | — | ​ | ​ | 27,230 | ​ | ​ | 27,230
Total cash equivalents | ​ | $ | 314,628 | ​ | $ | 27,230 | ​ | $ | 341,858
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government debt securities | ​ | $ | 207,560 | ​ | $ | 99,051 | ​ | $ | 306,611
Corporate debt securities | ​ | ​ | — | ​ | ​ | 586,520 | ​ | ​ | 586,520
Total short-term investments | ​ | $ | 207,560 | ​ | $ | 685,571 | ​ | $ | 893,131
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 522,188 | ​ | $ | 712,801 | ​ | $ | 1,234,989
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
Schedule of maturities of the Company's available-for-sale investments and money market funds | The following summarizes the contractual underlying maturities of the Company’s available-for-sale investments at October 1, 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Fair
​ | ​ | Cost | ​ | Value
Due in one year or less | ​ | $ | 611,264 | ​ | $ | 601,513
Due after one year through ten years | ​ | ​ | 315,952 | ​ | ​ | 307,056
Due after ten years | ​ | ​ | 24,780 | ​ | ​ | 24,780
​ | ​ | $ | 951,996 | ​ | $ | 933,349
​
Schedule of available-for-sale investments in continuous unrealized loss position | 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 October 1, 2022 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Government debt securities | ​ | $ | 225,388 | ​ | $ | (3,880) | ​ | $ | 55,508 | ​ | $ | (2,599) | ​ | $ | 280,896 | ​ | $ | (6,479)
Corporate debt securities | ​ |  | 470,762 | ​ |  | (9,524) | ​ |  | 104,386 | ​ |  | (2,647) | ​ |  | 575,148 | ​ |  | (12,171)
​ | ​ | $ | 696,150 | ​ | $ | (13,404) | ​ | $ | 159,894 | ​ | $ | (5,246) | ​ | $ | 856,044 | ​ | $ | (18,650)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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)
Summary of activity in Level 3 financial instruments | The following summarizes the activity in Level 3 financial instruments for the nine months ended October 1, 2022 (in thousands): ​ Assets ​
​ | ​ | ​ | ​
​ |  | Nine Months
Auction Rate Securities |  | Ended
Beginning balance | ​ | $ | 4,980
Sales (1) | ​ | ​ | (6,000)
Loss recognized in earnings | ​ | ​ | 300
Gain included in other comprehensive loss | ​ |  | 720
Balance at October 1, 2022 | ​ | $ | —
(1)On May 31, 2022, the Company sold its prior remaining holding of auction-rate securities for $5.7 million.

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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 Tabular disclosure of unrealized gains and losses on investments. + References No definition available. + Details
Name: | us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration