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Fair Value
 12 Months Ended
Dec. 28, 2024
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Whenever possible, the fair values of our financial assets and liabilities are determined using quoted market prices of identical securities or quoted market prices of similar securities from active markets. The three levels of inputs that may be used to measure fair value are as follows:
•Level 1 valuations are obtained from real-time quotes for transactions in active exchange markets involving identical securities;
•Level 2 valuations utilize significant observable inputs, such as quoted prices for similar assets or liabilities, quoted prices near the reporting date in markets that are less active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and
•Level 3 valuations utilize unobservable inputs to the valuation methodology and include our own data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances.

We did not have any transfers of assets or liabilities measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 during fiscal 2024, 2023 or 2022.

The carrying values of Cash, Accounts receivable, net, Restricted cash, Prepaid expenses and other current assets, Accounts payable, and Accrued liabilities approximate fair value due to their short maturities.

No changes were made to our valuation techniques during fiscal 2024.

Cash Equivalents
The fair value of our cash equivalents is determined based on quoted market prices for similar or identical securities.

Marketable Securities
We classify our marketable securities as available-for-sale and value them utilizing a market approach. Our investments are priced by pricing vendors who provide observable inputs for their pricing without applying significant judgment. Broker pricing
is used mainly when a quoted price is not available, the investment is not priced by our pricing vendors or when a broker price is more reflective of fair value. Our broker-priced investments are categorized as Level 2 investments because fair value is based on similar assets without applying significant judgments. In addition, all of our investments have a sufficient level of trading volume to demonstrate that the fair value is appropriate.

Assets and liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis were as follows (in thousands): 
December 28, 2024Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$131,519 $— $— $131,519 
Marketable securities:
 U.S. treasuries71,252 — — 71,252 
 U.S. agency securities— 13,869 — 13,869 
 Corporate bonds— 83,176 — 83,176 
 Commercial paper— 998 — 998 
71,252 98,043 — 169,295 
Promissory note receivable— — 1,512 1,512 
Interest rate swap derivative contracts— 2,025 — 2,025 
Total assets$202,771 $100,068 $1,512 $304,351 
Liabilities:
Foreign exchange derivative contracts$— $(1,141)$— $(1,141)
Total liabilities$— $(1,141)$— $(1,141)
December 30, 2023Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Money market funds$110,980 $— $— $110,980 
U.S. treasuries4,581 — — 4,581 
115,561 — — 115,561 
Marketable securities:
 U.S. treasuries45,837 — — 45,837 
 U.S. agency securities— 10,003 — 10,003 
 Corporate bonds— 81,350 — 81,350 
 Commercial paper— 13,317 — 13,317 
45,837 104,670 — 150,507 
Foreign exchange derivative contracts— 284 — 284 
Interest rate swap derivative contracts— 1,989 — 1,989 
Total assets$161,398 $106,943 $— $268,341 
Liabilities:
Foreign exchange derivative contracts$— $(30)$— $(30)
Total liabilities$— $(30)$— $(30)

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
We measure and report our non-financial assets such as Property, plant and equipment, Goodwill and Intangible assets at fair value on a non-recurring basis if we determine these assets to be impaired or in the period when we make a business acquisition. Other than as discussed in Note 4, Acquisition, there were no assets or liabilities measured at fair value on a non-recurring basis during fiscal 2024, 2023 or 2022.