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Cash, Cash Equivalents, and Marketable Securities
 9 Months Ended
Oct. 02, 2021
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents, and Marketable Securities Cash, Cash Equivalents and Marketable Securities
The Company has invested its excess cash primarily in money market funds and highly liquid marketable securities such as commercial paper, corporate debt securities, municipal securities and U.S. government securities. The Company considers all investments with maturities of three months or less when purchased to be cash equivalents. Marketable securities represent highly liquid commercial paper, U.S. government agency securities, corporate debt securities, municipal securities and U.S. government securities with maturities greater than 90 days at date of purchase. Cash equivalents are stated at amounts that approximate fair value based on quoted market prices. Marketable securities are recorded at their fair values.
Marketable securities with maturities greater than one year are classified as current because management considers all marketable securities to be available for current operations.
The Company’s investments have been classified and accounted for as available-for-sale. Such investments are recorded at fair value and unrealized holding gains and losses are reported as a separate component of accumulated other comprehensive loss in the stockholders’ equity until realized. Realized gains and losses on sales of marketable securities, if any, are determined on the specific identification method and are reclassified from accumulated other comprehensive loss to results of operations as other expense, net. Realized and unrealized gains and losses were de minimis for the period ended October 2, 2021.
Cash, cash equivalents and marketable securities consisted of the following (in thousands):
October 2,
2021		December 31,
2020
Cash and cash equivalents:
Cash$30,609 $30,745 
Commercial paper23,449 — 
Money market funds6,007 10,068 
Municipal securities150 — 
U.S. government securities— 39,994 
Total cash and cash equivalents60,215 80,807 
Marketable securities:
Commercial paper117,984 — 
U.S. government agency securities3,891 — 
Corporate debt securities3,772 — 
U.S. government securities1,520 52,982 
Municipal securities1,325 — 
Total marketable securities128,492 52,982 
$188,707 $133,789 
The carrying amounts of the Company’s money market funds approximate their fair values due to their nature, duration and short maturities.