Cash Equivalents and Investments (Tables)

3 Months Ended

Mar. 30, 2014

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Company's Cash Equivalents and Investments Measured at Fair Value

The following tables summarize the Company’s cash equivalents and investments measured at fair value:

	Fair Value Measurements as of March 30, 2014
	Level 1			Level 2			Total
	(In thousands)
Cash equivalents:
Money-market funds	$	541,663	(a)	$	—		$	541,663
Short-term investments:
Asset-backed and mortgage-backed securities:
Agency securities	$	—		$	132,122	(b)	$	132,122
Non-agency securities		—			570	(b)		570
Government and agency securities		35,534	(a)		48,470	(b)		84,004
Corporate debt securities		—			15,050	(b)		15,050
Commercial paper		—			8,995	(b)		8,995
Total available-for-sale debt securities	$	35,534		$	205,207		$	240,741
Long-term investments in equity securities:
Marketable available-for-sale equity securities	$	3,051	(c)	$	—		$	3,051

	Fair Value Measurements as of December 31, 2013
	Level 1			Level 2			Total
	(In thousands)
Cash equivalents:
Money-market funds	$	444,480	(a)	$	—		$	444,480
Short-term investments:
Asset-backed and mortgage-backed securities:
Agency securities	$	—		$	142,756	(b)	$	142,756
Non-agency securities		—			607	(b)		607
Government and agency securities		35,521	(a)		58,875	(b)		94,396
Corporate debt securities		—			15,490	(b)		15,490
Commercial paper		—			13,821	(b)		13,821
Total available-for-sale debt securities	$	35,521		$	231,549		$	267,070
Long-term investments in equity securities:
Marketable available-for-sale equity securities	$	2,921	(c)	$	—		$	2,921

(a) The fair value of money-market funds is determined using unadjusted prices in active markets. Level 1 government and agency securities consist of U.S. government and agency securities, and their fair value is determined using quoted prices in active markets.

(b) These investments are traded less frequently than Level 1 securities and are valued using inputs that include quoted prices for similar assets in active markets and inputs other than quoted prices that are observable for the asset, such as interest rates, yield curves, prepayment speeds, collateral performance, broker/dealer quotes and indices that are observable at commonly quoted intervals.

(c) The fair value of marketable equity securities is determined using quoted prices in active markets. These amounts are included in non-current other assets.

Company's Available-for-Sale Securities

The following tables summarize the Company’s available-for-sale securities:

	March 30, 2014
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
	(In thousands)
Short-term debt securities:
Asset-backed and mortgage-backed securities	$	130,434	$	4,097	$	(1,839	)	$	132,692
Government and agency securities		83,858		306		(160	)		84,004
Corporate debt securities		14,991		82		(23	)		15,050
Commercial paper		8,995		—		—			8,995
Total short-term debt securities	$	238,278	$	4,485	$	(2,022	)	$	240,741
Long-term marketable equity securities	$	669	$	2,382	$	—		$	3,051
	December 31, 2013
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
	(In thousands)
Short-term debt securities:
Asset-backed and mortgage-backed securities	$	141,263	$	4,329	$	(2,229	)	$	143,363
Government and agency securities		94,245		352		(201	)		94,396
Corporate debt securities		15,447		85		(42	)		15,490
Commercial paper		13,821		—		—			13,821
Total short-term debt securities	$	264,776	$	4,766	$	(2,472	)	$	267,070
Long-term marketable equity securities	$	669	$	2,252	$	—		$	2,921

Gross Unrealized Losses and Fair Values of Company's Short-Term Investments

As of March 30, 2014, there were 188 investments in an unrealized loss position. The following tables summarize the gross unrealized losses and fair values of the Company’s short-term investments that have been in a continuous unrealized loss position for less than and greater than 12 months, aggregated by investment category:

	March 30, 2014
	Less than 12 Months					Greater than 12 Months
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(In thousands)
Asset-backed and mortgage-backed securities	$	54,072	$	(1,340	)	$	17,484	$	(499	)
Government and agency securities		18,507		(160	)		—		—
Corporate debt securities		2,983		(23	)		—		—
Total	$	75,562	$	(1,523	)	$	17,484	$	(499	)
	December 31, 2013
	Less than 12 Months					Greater than 12 Months
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(In thousands)
Asset-backed and mortgage-backed securities	$	63,788	$	(1,856	)	$	11,668	$	(373	)
Government and agency securities		27,053		(201	)		—		—
Corporate debt securities		6,126		(42	)		—		—
Total	$	96,967	$	(2,099	)	$	11,668	$	(373	)

Contractual Maturities of Available-for-Sale Debt Securities

Contractual maturities of available-for-sale debt securities as of March 30, 2014 were as follows (in thousands):

Due within one year	$	30,657
Due in 1-5 years		80,503
Due in 5-10 years		7,725
Due after 10 years		121,856
Total	$	240,741