CASH AND EQUIVALENTS AND MARKETABLE SECURITIES

3 Months Ended

Mar. 30, 2019

Cash and Equivalents and Marketable Securities Disclosure [Abstract]

CASH AND EQUIVALENTS AND MARKETABLE SECURITIES

CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES

The Company considers all highly liquid, short-term debt instruments with original maturities of three months or less to be cash equivalents.

Marketable debt securities consist primarily of commercial paper, medium-term corporate notes, and U.S. government and agency backed securities. The Company classifies these marketable debt securities as available-for-sale at fair value in “Marketable debt securities, at fair value.” The Company records the amortization of premium and accretion of discounts on marketable debt securities in the results of operations.

The Company uses the specific identification method as a basis for determining cost and calculating realized gains and losses with respect to marketable debt securities. The gross gains and losses realized related to sales and maturities of marketable debt securities were not material during the three months ended March 30, 2019 and the fiscal year ended December 29, 2018.

Investments in available-for-sale marketable debt securities were as follows at March 30, 2019 and December 29, 2018:



	Amortized Cost				Unrealized Losses						Fair Value
	2019		2018		2019			2018			2019		2018
U.S. government and agency backed securities	$	11,307,655	$	13,064,418	$	(136,955	)	$	(253,495	)	$	11,170,700	$	12,810,923
Corporate debt	9,131,568		10,175,084		(13,351		)	(67,991		)	9,118,217		10,107,093
Total	$	20,439,223	$	23,239,502	$	(150,306	)	$	(321,486	)	$	20,288,917	$	22,918,016

The contractual maturity of the Company’s marketable debt securities was as follows at March 30, 2019:



	Less than One year		One to Five years		Total
U.S. government and agency backed securities	$	1,994,750	$	9,175,950	$	11,170,700
Corporate debt	2,671,796		6,446,421		9,118,217
Total	$	4,666,546	$	15,622,371	$	20,288,917