XML 48 R33.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Cash, Cash Equivalents, and Investments (Tables)
 6 Months Ended
Jun. 30, 2024
Cash and Cash Equivalents [Abstract]  
Components of Cash, Cash Equivalents, and Investments
Cash, cash equivalents, and investments consisted of the following (in thousands):
June 30, 2024December 31, 2023
Cash$141,508 $183,242 
Treasury bills26,934 — 
Certificate of deposit7,601 — 
Money market instruments583 19,413 
Cash and cash equivalents176,626 202,655 
Corporate bonds103,654 124,851 
Asset-backed securities5,346 3,551 
Treasury notes2,449 — 
Sovereign bonds1,000 990 
Current investments112,449 129,392 
Corporate bonds212,688 183,965 
Treasury notes42,593 43,523 
Asset-backed securities9,958 15,763 
Sovereign bonds975 979 
Non-current investments266,214 244,230 
$555,289 $576,277 
Summary of Available-for-Sale Investments
The following table summarizes the Company’s available-for-sale investments as of June 30, 2024 (in thousands):
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Current:
Corporate bonds$105,250 $— $(1,596)$103,654 
Asset-backed securities5,426 — (80)5,346 
Treasury notes2,500 (51)2,449 
Sovereign bonds1,001 — (1)1,000 
Non-current:
Corporate bonds217,537 73 (4,922)212,688 
Treasury notes43,362 — (769)42,593 
Asset-backed securities10,689 — (731)9,958 
Sovereign bonds1,025 — (50)975 
$386,790 $73 $(8,200)$378,663 
The following table summarizes the Company’s available-for-sale investments as of December 31, 2023 (in thousands):
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Current:
Corporate bonds$128,150 $— $(3,299)$124,851 
Asset-backed securities3,637 — (86)3,551 
Sovereign bonds1,012 — (22)990 
Non-current:
Corporate bonds189,326 506 (5,867)183,965 
Treasury notes43,654 82 (213)43,523 
Asset-backed securities16,773 — (1,010)15,763 
Sovereign bonds1,037 — (58)979 
$383,589 $588 $(10,555)$373,622 
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 June 30, 2024 (in thousands):
 Unrealized Loss Position For: 
 Less than 12 Months12 Months or GreaterTotal
 Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Corporate bonds$93,328 $(962)$203,251 $(5,556)$296,579 $(6,518)
Treasury notes22,107 (284)22,936 (536)45,043 (820)
Asset-backed securities9,599 (716)5,705 (95)15,304 (811)
Sovereign bonds— — 1,974 (51)1,974 (51)
$125,034 $(1,962)$233,866 $(6,238)$358,900 $(8,200)
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 December 31, 2023 (in thousands):
 Unrealized Loss Position For: 
 Less than 12 Months12 Months or GreaterTotal
 Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Corporate bonds$30,770 $(359)$226,643 $(8,807)$257,413 $(9,166)
Treasury notes20,725 (153)2,441 (60)23,166 (213)
Asset-backed securities17,062 (1,049)2,252 (47)19,314 (1,096)
Sovereign bonds— — 1,968 (80)1,968 (80)
$68,557 $(1,561)$233,304 $(8,994)$301,861 $(10,555)
Realized Gain (Loss) on Investments
The following table summarizes the Company's gross realized gains and losses on the sale of debt securities for the three-month periods ended June 30, 2024 and July 2, 2023 (in thousands):
Three-months EndedSix-months Ended
June 30, 2024July 2, 2023June 30, 2024July 2, 2023
Gross realized gains$6 $— $8 $— 
Gross realized losses(16)— (16)— 
Net realized gains (losses)$(10)$— $(8)$— 
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 June 30, 2024 (in thousands):
<1 year1-2 Years2-3 Years3-4 Years4-5 Years5-8 YearsTotal
Corporate bonds$103,654 $59,638 $57,273 $61,410 $34,367 $— $316,342 
Treasury notes2,449 987 18,909 22,697 — 45,042 
Asset-backed securities5,346 4,060 — — 2,162 3,736 15,304 
Sovereign bonds1,000 975 — — — — 1,975 
$112,449 $65,660 $76,182 $84,107 $36,529 $3,736 $378,663