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CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES

3 Months Ended

Apr. 01, 2023

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS AND MARKETABLE DEBT SECURITIES

3. 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 premiums 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 April 1, 2023 and March 26, 2022.

Investments in available-for-sale marketable debt securities were as follows at April 1, 2023 and December 31, 2022:

 SCHEDULE OF AVAILABLE-FOR-SALE MARKETABLE DEBT SECURITIES 

		Amortized Cost								Unrealized Losses								Fair Value
		2023				2022				2023				2022				2023				2022
U.S. government and agency backed securities		$	13,374,623			$	2,500,006			$	(43,938	)		$	(102,276	)		$	13,330,685			$	2,397,730
Corporate debt and certificates of deposit			7,750,174				2,000,012				(53,809	)			(8,964	)			7,696,365				1,991,048
Total		$	21,124,797			$	4,500,018			$	(97,747	)		$	(111,240	)		$	21,027,050			$	4,388,778

The contractual maturity of the Company’s marketable debt securities was as follows at April 1, 2023:

 SCHEDULE OF MARKETABLE DEBT SECURITIES 

		Less than One year				One to Five years				Total
U.S. government and agency backed securities		$	11,345,770			$	1,984,915			$	13,330,685
Corporate debt			2,492,328				5,204,037				7,696,365
Total		$	13,838,098			$	7,188,952			$	21,027,050

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- References

No definition available.

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- Definition

The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//320/tableOfContent

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