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v3.23.1

Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Apr. 01, 2023
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 April 1, 2023 Using | ​ | ​ | ​
​ | ​ | Quoted Prices in | ​ | Significant Other | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | ​ | ​
Description |  | (Level 1) |  | (Level 2) |  | Total
Cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 563,856 | ​ | $ | — | ​ | $ | 563,856
Total cash equivalents | ​ | $ | 563,856 | ​ | $ | — | ​ | $ | 563,856
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate debt securities | ​ | $ | — | ​ | $ | 296,619 | ​ | $ | 296,619
Government debt securities | ​ | ​ | — | ​ | ​ | 139,080 | ​ | ​ | 139,080
Total short-term investments | ​ | $ | — | ​ | $ | 435,699 | ​ | $ | 435,699
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 563,856 | ​ | $ | 435,699 | ​ | $ | 999,555
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements | ​ | ​
​ | ​ | at December 31, 2022 Using | ​ | ​
​ | ​ | Quoted Prices in | ​ | Significant Other | ​ | ​ | ​
​ | ​ | Active Markets for | ​ | Observable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Inputs | ​ | ​ | ​
Description |  | (Level 1) |  | (Level 2) |  | Total
Cash equivalents: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 310,969 | ​ | $ | — | ​ | $ | 310,969
Corporate debt securities | ​ | ​ | — | ​ |  | 3,249 | ​ |  | 3,249
Total cash equivalents | ​ | $ | 310,969 | ​ | $ | 3,249 | ​ | $ | 314,218
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Short-term investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate debt securities | ​ | $ | — | ​ | $ | 501,014 | ​ | $ | 501,014
Government debt securities | ​ | ​ | — | ​ | ​ | 191,010 | ​ | ​ | 191,010
Total short-term investments | ​ | $ | — | ​ | $ | 692,024 | ​ | $ | 692,024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 310,969 | ​ | $ | 695,273 | ​ | $ | 1,006,242
​
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 April 1, 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Fair
​ | ​ | Cost | ​ | Value
Due in one year or less | ​ | $ | 188,907 | ​ | $ | 186,023
Due after one year through five years | ​ | ​ | 254,715 | ​ | ​ | 249,676
​ | ​ | $ | 443,622 | ​ | $ | 435,699
​
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 April 1, 2023 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Corporate debt securities | ​ | $ | 59,723 | ​ | $ | (625) | ​ | $ | 222,231 | ​ | $ | (4,895) | ​ | $ | 281,954 | ​ | $ | (5,520)
Government debt securities | ​ |  | 23,652 | ​ |  | (20) | ​ |  | 89,889 | ​ |  | (2,473) | ​ |  | 113,541 | ​ |  | (2,493)
​ | ​ | $ | 83,375 | ​ | $ | (645) | ​ | $ | 312,120 | ​ | $ | (7,368) | ​ | $ | 395,495 | ​ | $ | (8,013)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
As of December 31, 2022 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Corporate debt securities | ​ | $ | 307,085 | ​ | $ | (5,297) | ​ | $ | 185,467 | ​ | $ | (4,090) | ​ | $ | 492,552 | ​ | $ | (9,387)
Government debt securities | ​ |  | 76,651 | ​ | ​ | (626) | ​ | ​ | 100,209 | ​ | ​ | (3,541) | ​ | ​ | 176,860 | ​ | ​ | (4,167)
​ | ​ | $ | 383,736 | ​ | $ | (5,923) | ​ | $ | 285,676 | ​ | $ | (7,631) | ​ | $ | 669,412 | ​ | $ | (13,554)
​

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- 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
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