Financial Instruments (Tables)

9 Months Ended

Oct. 03, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of cash, cash equivalents and marketable securities

The following table sets forth cash, cash equivalents, and marketable securities as of October 3, 2020 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities
Cash	$	128,230	$	—	$	—	$	128,230	$	128,230	$	—
Money market funds	189,887		—		—		189,887		189,887		—
U.S. government agencies	36,320		17		—		36,337		27,312		9,025
Corporate debt securities	61,885		96		—		61,981		27,955		34,026
Total	$	416,322	$	113	$	—	$	416,435	$	373,384	$	43,051

The following table sets forth cash, cash equivalents and marketable securities as of December 31, 2019 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities
Cash	$	126,293	$	—	$	—	$	126,293	$	126,293	$	—
Money market funds	107,708		—		—		107,708		107,708		—
U.S. government agencies	77,316		48		—		77,364		30,375		46,989
Corporate debt securities	207,063		85		(11)		207,137		70,103		137,034
Total	$	518,380	$	133	$	(11)	$	518,502	$	334,479	$	184,023

The following table classifies marketable securities by contractual maturities (in thousands):

	October 3, 2020		December 31, 2019
Due in one year	$	43,051	$	173,827
Due in one to two years	—		10,196
Total	$	43,051	$	184,023

Schedule of derivative instruments in statement of financial position, fair value

The following table presents the fair value of the Company’s foreign currency derivative contracts as of the periods presented (in thousands):

		October 3, 2020				December 31, 2019
	Balance Sheet Location	Fair Value Derivative Assets		Fair Value Derivative Liabilities		Fair Value Derivative Assets		Fair Value Derivative Liabilities
Hedges not designated	Accrued liabilities	—		—		—		748
Total fair value of derivative instruments		$	—	$	—	$	—	$	748

Schedule of derivative contracts on consolidated statement of operations

The following table presents the pre-tax impact of the Company’s foreign currency derivative contracts on the condensed consolidated statements of operations for the periods presented (in thousands):

		Three Months Ended				Nine Months Ended
	Income Statement Location	October 3, 2020		September 28, 2019		October 3, 2020		September 28, 2019
Foreign exchange balance sheet hedges:
Gain (loss) recognized in income	Other income, net	$	—	$	2,041	$	3,077	$	1,567

Schedule of offsetting of foreign currency derivative contracts

The following tables set forth the available offsetting of net derivative assets under the master netting arrangements as of December 31, 2019 (in thousands):

	December 31, 2019
	Gross Amounts Offset in the Condensed Consolidated Balance Sheets			Gross Amounts Not Offset in Condensed Consolidated Balance Sheets
	Gross Amounts Recognized	Gross Amounts Offset	Net Amounts Presented	Financial Instruments	Cash Collateral Received	Net Amount
Foreign exchange contracts liabilities	748	—	748	—	—	748