Financial Instruments - (Tables)

6 Months Ended

Aug. 07, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Cash Equivalents, Marketable Securities and Restricted Cash

The following tables summarize our cash equivalents, marketable securities and restricted cash by significant investment categories and their classification within the valuation hierarchy at the end of fiscal 2022 and the second quarter of fiscal 2023 (in thousands):

 

	At the End of Fiscal 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Marketable Securities		Restricted Cash
Level 1
Money market accounts	$	—	$	—	$	—	$	29,275	$	18,731	$	—	$	10,544
Level 2
U.S. government treasury notes	336,303		512		(2,176)		334,639		—		334,639		—
U.S. government agencies	49,153		49		(193)		49,009		—		49,009		—
Corporate debt securities	491,728		384		(4,731)		487,381		200		487,181		—
Foreign government bonds	12,333		37		(17)		12,353		—		12,353		—
Asset-backed securities	60,361		111		(453)		60,019		—		60,019		—
Municipal bonds	3,950		—		(78)		3,872		—		3,872		—
Total	$	953,828	$	1,093	$	(7,648)	$	976,548	$	18,931	$	947,073	$	10,544

	At the End of the Second Quarter of Fiscal 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Marketable Securities		Restricted Cash
Level 1
Money market accounts	$	—	$	—	$	—	$	259,665	$	249,121	$	—	$	10,544
Level 2
U.S. government treasury notes	240,405		2		(4,930)		235,477		—		235,477		—
U.S. government agencies	31,788		6		(466)		31,328		—		31,328		—
Corporate debt securities	407,433		2		(11,530)		395,905		—		395,905		—
Foreign government bonds	4,800		—		(68)		4,732		—		4,732		—
Asset-backed securities	39,800		—		(1,123)		38,677		—		38,677		—
Municipal bonds	3,950		—		(180)		3,770		—		3,770		—
Total	$	728,176	$	10	$	(18,297)	$	969,554	$	249,121	$	709,889	$	10,544

Schedule of Amortized Cost and Estimated Fair Value

The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands):

	At the End of the Second Quarter of Fiscal 2023
	Amortized Cost		Fair Value
Due within one year	$	361,702	$	357,361
Due in one to five years	366,474		352,528
Total	$	728,176	$	709,889

Schedule of Gross Unrealized Losses and Fair Values

The following table presents gross unrealized losses and fair values for those investments that were in a continuous unrealized loss position at the end of fiscal 2022 and the second quarter of fiscal 2023, aggregated by investment category (in thousands):

	At the End of Fiscal 2022
	Less than 12 months				Greater than 12 months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. government treasury notes	$	193,359	$	(2,176)	$	—	$	—	$	193,359	$	(2,176)
U.S. government agencies	24,388		(193)		—		—		24,388		(193)
Corporate debt securities	374,223		(4,708)		1,182		(23)		375,405		(4,731)
Foreign government bonds	4,098		(17)		—		—		4,098		(17)
Asset-backed securities	37,608		(453)		—		—		37,608		(453)
Municipal bonds	3,872		(78)		—		—		3,872		(78)
Total	$	637,548	$	(7,625)	$	1,182	$	(23)	$	638,730	$	(7,648)

	At the End of the Second Quarter of Fiscal 2023
	Less than 12 months				Greater than 12 months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. government treasury notes	$	213,567	$	(4,289)	$	19,827	$	(641)	$	233,394	$	(4,930)
U.S. government agencies	23,322		(466)		—		—		23,322		(466)
Corporate debt securities	372,210		(10,651)		20,974		(879)		393,184		(11,530)
Foreign government bonds	4,732		(68)		—		—		4,732		(68)
Asset-backed securities	37,938		(1,092)		739		(31)		38,677		(1,123)
Municipal bonds	1,429		(81)		2,341		(99)		3,770		(180)
Total	$	653,198	$	(16,647)	$	43,881	$	(1,650)	$	697,079	$	(18,297)