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Balance Sheet Components (Tables)
9 Months Ended
Oct. 01, 2023
Balance Sheet Related Disclosures [Abstract]  
Schedule of Amortized Cost and Estimated Fair Market Value of Investments Classified as Available-for-Sale Excluding Cash Equivalents

Amortized cost and estimated fair market value of investments classified as available-for-sale, excluding cash equivalents, as of October 1, 2023, and December 31, 2022, were as follows:

 

 

 

October 1, 2023

 

(In thousands)

 

Amortized Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Estimated
Fair Value

 

U.S. treasury securities

 

$

88,764

 

 

$

 

 

$

(71

)

 

$

88,693

 

Convertible debt (1)

 

 

173

 

 

 

 

 

 

 

 

 

173

 

Total

 

$

88,937

 

 

$

 

 

$

(71

)

 

$

88,866

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

(In thousands)

 

Amortized Cost

 

 

Unrealized
Gains

 

 

Unrealized
Losses

 

 

Estimated
Fair Value

 

U.S. treasury securities

 

$

74,120

 

 

$

 

 

$

(320

)

 

$

73,800

 

Convertible debt (1)

 

 

346

 

 

 

 

 

 

 

 

 

346

 

Certificates of deposit

 

 

6

 

 

 

 

 

 

 

 

 

6

 

Total

 

$

74,472

 

 

$

 

 

$

(320

)

 

$

74,152

 

 

 

(1)
On the Company’s unaudited condensed consolidated balance sheets, $173,000 included in Short-term investments as of October 1, 2023, and December 31, 2022, respectively, and $173,000 included in Other non-current assets as of December 31, 2022.
Schedule of Investments Classified as Available-for-Sale in Continuous Unrealized Loss Position

The following table summarizes investments classified as available-for-sale in a continuous unrealized loss position for which an allowance for credit losses was not recorded as of October 1, 2023, and December 31, 2022:

 

 

October 1, 2023

 

 

Less Than 12 Months

 

 

12 Months or Longer

 

 

Total

 

(In thousands)

Estimated Fair Market Value

 

 

Gross Unrealized Losses

 

 

Estimated Fair Market Value

 

 

Gross Unrealized Losses

 

 

Estimated Fair Market Value

 

 

Gross Unrealized Losses

 

U.S. treasury securities

$

88,693

 

 

$

(71

)

 

$

 

 

$

 

 

$

88,693

 

 

$

(71

)

Total

$

88,693

 

 

$

(71

)

 

$

 

 

$

 

 

$

88,693

 

 

$

(71

)

 

 

December 31, 2022

 

 

Less Than 12 Months

 

 

12 Months or Longer

 

 

Total

 

(In thousands)

Estimated Fair Market Value

 

 

Gross Unrealized Losses

 

 

Estimated Fair Market Value

 

 

Gross Unrealized Losses

 

 

Estimated Fair Market Value

 

 

Gross Unrealized Losses

 

U.S. treasury securities

$

73,800

 

 

$

(320

)

 

$

 

 

$

 

 

$

73,800

 

 

$

(320

)

Total

$

73,800

 

 

$

(320

)

 

$

 

 

$

 

 

$

73,800

 

 

$

(320

)

Schedule of Inventories

Inventories

 

(In thousands)

 

October 1, 2023

 

 

December 31, 2022

 

Raw materials

 

$

10,466

 

 

$

4,549

 

Finished goods

 

 

270,452

 

 

 

295,065

 

Total

 

$

280,918

 

 

$

299,614

 

Schedule of Property and Equipment, Net

Property and equipment, net

 

(In thousands)

 

October 1, 2023

 

 

December 31, 2022

 

Computer equipment

 

$

8,001

 

 

$

9,648

 

Furniture, fixtures, and leasehold improvements

 

 

18,041

 

 

 

18,642

 

Software

 

 

28,377

 

 

 

30,610

 

Machinery and equipment

 

 

65,665

 

 

 

76,806

 

Total property and equipment, gross

 

 

120,084

 

 

 

135,706

 

Accumulated depreciation

 

 

(111,810

)

 

 

(126,481

)

Total

 

$

8,274

 

 

$

9,225

 

Schedule of Intangibles, Net

Intangibles, net

 

 

 

October 1, 2023

 

 

December 31, 2022

 

(In thousands)

 

Gross

 

 

Accumulated
Amortization

 

 

Impairment

 

 

Net

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

Technology

 

$

59,799

 

 

$

(58,906

)

 

$

(893

)

 

$

 

 

$

59,799

 

 

$

(58,692

)

 

$

1,107

 

Other

 

 

10,345

 

 

 

(10,167

)

 

 

(178

)

 

 

 

 

 

10,345

 

 

 

(10,123

)

 

 

222

 

Total

 

$

70,144

 

 

$

(69,073

)

 

$

(1,071

)

 

$

 

 

$

70,144

 

 

$

(68,815

)

 

$

1,329

 

Schedule of Other Non-Current Assets

Other non-current assets

 

(In thousands)

 

October 1, 2023

 

 

December 31, 2022

 

Non-current deferred income taxes

 

$

3,450

 

 

$

85,704

 

Long-term investments

 

 

8,240

 

 

 

7,879

 

Other

 

 

5,873

 

 

 

4,210

 

Total

 

$

17,563

 

 

$

97,793

 

Schedule of Changes in Carrying Value of Long-term Equity Investments

Long-term equity investments

The Company's long-term investments are comprised of equity investments without readily determinable fair values, investments in convertible debt securities and investments in limited partnership funds. The changes in the carrying value of equity investments without readily determinable fair values were as follows:

 

 

Nine months ended

 

 

(In thousands)

October 1, 2023

 

 

October 2, 2022

 

 

Carrying value as of the beginning of the period (1)

$

6,053

 

 

$

6,303

 

 

Impairment

 

 

 

 

(250

)

 

Carrying value as of the end of the period (1)

$

6,053

 

 

$

6,053

 

 

The balances excluded an investment in limited partnership funds of $2.2 million as of October 1, 2023, $1.5 million as of October 2, 2022, $1.7 million as of December 31, 2022, and $0.9 million as of December 31, 2021. Additionally, the balance excluded an investment in convertible debt securities of $0.2 million as of October 2, 2022, and December 31, 2022, respectively, and $0.3 million as of December 31, 2021.
Schedule of Other Accrued Liabilities

Other accrued liabilities

 

(In thousands)

 

October 1, 2023

 

 

December 31, 2022

 

Current operating lease liabilities

 

$

11,379

 

 

$

11,012

 

Sales and marketing

 

 

74,813

 

 

 

98,690

 

Warranty obligations

 

 

7,038

 

 

 

6,320

 

Sales returns(1)

 

 

36,751

 

 

 

44,944

 

Freight and duty

 

 

2,478

 

 

 

7,243

 

Other

 

 

35,254

 

 

 

45,267

 

Total

 

$

167,713

 

 

$

213,476

 

 

 

(1)
Inventory expected to be received from future sales returns amounted to $17.6 million and $21.8 million as of October 1, 2023, and December 31, 2022, respectively. Provisions to write down expected returned inventory to net realizable value amounted to $10.7 million and $11.8 million as of October 1, 2023, and December 31, 2022, respectively.