Marketable Securities and Investments

12 Months Ended

Jan. 03, 2021

Marketable Securities [Abstract]

Marketable Securities and Investments

Marketable Securities and Investments

Investments as of January 3, 2021 and December 29, 2019 consisted of the following:

	January 3, 2021		December 29, 2019
	(In thousands)
Marketable securities	$	2,154	$	2,906
Equity investments	48,626		29,228
	$	50,780	$	32,134

Marketable securities. Marketable securities include equity and fixed-income securities held to meet obligations associated with the Company’s supplemental executive retirement plan and other deferred compensation plans. The Company has, accordingly, classified these securities as long-term.

The net unrealized holding gain and loss on marketable securities, net of deferred income taxes, reported as a component of other comprehensive income (loss) in the statements of stockholders’ equity, were not material in fiscal years 2020 and 2019. The proceeds from the sales of securities and the related gains and losses are not material for any period presented.

Marketable securities classified as available for sale as of January 3, 2021 and December 29, 2019 consisted of the following:

	Market Value		Gross Unrealized Holding
			Cost		Gains		(Losses)
			(In thousands)
January 3, 2021
Equity securities	$	203	$	584	$	—	$	(381)
Fixed-income securities	7		7		—		—
Other	1,944		2,007		—		(63)
	$	2,154	$	2,598	$	—	$	(444)
December 29, 2019
Equity securities	$	752	$	1,109	$	—	$	(357)
Fixed-income securities	7		7		—		—
Other	2,147		2,210		—		(63)
	$	2,906	$	3,326	$	—	$	(420)

Equity investments. The Company has equity interests in privately-held entities over which the Company neither has significant influence nor control.

Equity investments without readily determinable fair values as of January 3, 2021 and December 29, 2019 consisted of the following:

	January 3, 2021		December 29, 2019
	(In thousands)
Equity investments, carried at cost minus impairment, if any	$	27,438	$	29,228
Equity investments, carried at fair value	21,188		—
	$	48,626	$	29,228

The amount of upward adjustments during fiscal years 2020 and 2019 were $35,000 and $8.2 million, respectively. The cumulative amount of upward adjustments as of each of January 3, 2021 and December 29, 2019 was $8.2 million. The amount of impairments and downward adjustments during fiscal year 2019 was $4.9 million. The cumulative amount of impairments and downward adjustments as of each of January 3, 2021 and December 29, 2019 was $4.9 million.