Cash, Cash Equivalents, and Investments (Tables)

9 Months Ended

Oct. 02, 2022

Cash and Cash Equivalents [Abstract]

Components of Cash, Cash Equivalents, and Investments

Cash, cash equivalents, and investments consisted of the following (in thousands):

	October 2, 2022		December 31, 2021
Cash	$	265,500	$	185,624
Money market instruments	504		537
Cash and cash equivalents	266,004		186,161
Corporate bonds	151,014		73,088
Asset-backed securities	28,119		37,655
Agency bonds	15,759		2,802
Treasury bills	12,918		18,912
Municipal bonds	620		4,998
Current investments	208,430		137,455
Corporate bonds	304,206		481,218
Asset-backed securities	28,389		43,940
Treasury bills	8,673		39,753
Sovereign bonds	1,930		2,119
Agency bonds	—		16,077
Municipal bonds	—		641
Non-current investments	343,198		583,748
	$	817,632	$	907,364

Summary of Available-for-Sale Investments

The following table summarizes the Company’s available-for-sale investments as of October 2, 2022 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Current:
Corporate bonds	$	154,399	$	—	$	(3,385)	$	151,014
Asset-backed securities	28,764		—		(645)		28,119
Agency bonds	16,140		—		(381)		15,759
Treasury bills	13,106		1		(189)		12,918
Municipal bonds	635		—		(15)		620
Non-current:
Corporate bonds	328,548		—		(24,342)		304,206
Asset-backed securities	30,227		—		(1,838)		28,389
Treasury bills	8,987		—		(314)		8,673
Sovereign bonds	2,106		—		(176)		1,930
	$	582,912	$	1	$	(31,285)	$	551,628

Gross Unrealized Losses and Fair Values for Available-for-Sale Investments

The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of October 2, 2022 (in thousands):

	Unrealized Loss Position For:
	Less than 12 Months				12 Months or Greater				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate bonds	$	390,656	$	(23,263)	$	64,564	$	(4,464)	$	455,220	$	(27,727)
Asset-backed securities	56,125		(2,455)		383		(28)		56,508		(2,483)
Treasury bills	19,427		(499)		101		(4)		19,528		(503)
Agency bonds	15,759		(381)		—		—		15,759		(381)
Sovereign bonds	1,930		(176)		—		—		1,930		(176)
Municipal bonds	620		(15)		—		—		620		(15)
	$	484,517	$	(26,789)	$	65,048	$	(4,496)	$	549,565	$	(31,285)

Effective Maturity Dates of Available-for-Sale Investments

The following table presents the effective maturity dates of the Company’s available-for-sale investments as of October 2, 2022 (in thousands):

	<1 year		1-2 Years		2-3 Years		3-4 Years		4-5 Years		Total
Corporate bonds	$	151,014	$	157,264	$	104,838	$	42,104	$	—	$	455,220
Asset-backed securities	28,119		16,384		3,202		8,803		—		56,508
Treasury bills	12,918		6,265		2,408		—		—		21,591
Agency bonds	15,759		—		—		—		—		15,759
Sovereign bonds	—		970		—		960		—		1,930
Municipal bonds	620		—		—		—		—		620
	$	208,430	$	180,883	$	110,448	$	51,867	$	—	$	551,628