Investments, Debt and Equity Securities

6 Months Ended

Jul. 02, 2022

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure

Marketable Securities

The following table summarizes available-for-sale debt securities held at July 2, 2022 by asset type:

	Available-For-Sale Debt Securities
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value (Net Carrying Amount)
July 2, 2022
Fixed maturity:
United States Government and agency securities	$	10,042	$	1	$	(191)	$	9,852
Corporate notes and bonds	315		—		(39)		276
Total available-for-sale debt securities	$	10,357	$	1	$	(230)	$	10,128
December 31, 2021
Fixed maturity:
United States Government and agency securities	$	3,244	$	11	$	(25)	$	3,230
Corporate notes and bonds	174		2		—		176
Total available-for-sale debt securities	$	3,418	$	13	$	(25)	$	3,406

Marketable securities are composed of available-for-sale debt securities and marketable equity securities and all marketable securities are held at fair value. We carry a portion of our marketable securities portfolio in long-term assets since they are generally held for the settlement of our insurance claims processed through our wholly owned captive insurance subsidiary.

Available-for-sale debt securities are included in other current and long-term assets totaling $10,128 and $3,406 at July 2, 2022 and December 31, 2021, respectively. Realized gains and losses on sales of available-for-sale debt securities are recognized in net income on the specific identification basis. Changes in the fair values of available-for-sale debt securities that are determined to be holding gains or losses are recorded through accumulated other comprehensive income (loss) net of applicable taxes, within shareholders' equity. In assessing whether a credit loss exists, we evaluate our ability to hold the investment, the strength of the underlying collateral and the extent to which the investment's amortized cost or cost, as appropriate, exceeds its related fair value.

We held approximately 24,443 and 11,386 in marketable equity securities as of July 2, 2022 and December 31, 2021, respectively. Realized and unrealized gains and losses on marketable equity securities are included in other income (expense) in the Consolidated Statements of Operations.

The net carrying values of available-for-sale debt securities at July 2, 2022 by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

	Amortized Cost		Fair Value
Due:
Less than one year	$	5,006	$	5,007
One year through five years	3,068		2,989
Six years through ten years	260		228
After ten years	2,023		1,904
Total	$	10,357	$	10,128