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Marketable Securities
 12 Months Ended
Dec. 31, 2022
Marketable Securities [Abstract]  
Marketable Securities
4.
Marketable Securities:

At December 31, 2022 and January 1, 2022, marketable securities are categorized as follows:

 

 

Amortized
Cost

 

 

Gross
Unrealized
Holding Gains

 

 

Gross
Unrealized
Holding Losses

 

 

Fair
Value

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

181,196

 

 

$

27

 

 

$

2,355

 

 

$

178,868

 

Asset-backed securities

 

 

1,555

 

 

 

—

 

 

 

21

 

 

 

1,534

 

Certificates of deposit

 

 

52,190

 

 

 

24

 

 

 

118

 

 

 

52,095

 

Commercial paper

 

 

80,199

 

 

 

16

 

 

 

136

 

 

 

80,079

 

Corporate bonds

 

 

60,334

 

 

 

4

 

 

 

1,003

 

 

 

59,335

 

Total marketable securities

 

$

375,474

 

 

$

71

 

 

$

3,633

 

 

$

371,912

 

January 1, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

171,203

 

 

$

38

 

 

$

261

 

 

$

170,980

 

Asset-backed securities

 

 

2,009

 

 

 

—

 

 

 

—

 

 

 

2,009

 

Certificates of deposit

 

 

33,200

 

 

 

2

 

 

 

10

 

 

 

33,192

 

Commercial paper

 

 

73,152

 

 

 

2

 

 

 

41

 

 

 

73,113

 

Corporate bonds

 

 

62,634

 

 

 

29

 

 

 

216

 

 

 

62,447

 

Total marketable securities

 

$

342,198

 

 

$

71

 

 

$

528

 

 

$

341,741

 

The amortized cost and estimated fair value of marketable securities classified by the maturity date listed on the security, regardless of the Consolidated Balance Sheet classification, is as follows at December 31, 2022 and January 1, 2022:

 

 

December 31, 2022

 

 

January 1, 2022

 

 

 

Amortized
Cost

 

 

Fair
 Value

 

 

Amortized
Cost

 

 

Fair
 Value

 

Due within one year

 

$

311,934

 

 

$

309,385

 

 

$

219,353

 

 

$

219,211

 

Due after one through five years

 

 

63,540

 

 

 

62,527

 

 

 

122,845

 

 

 

122,530

 

Due after five through ten years

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Due after ten years

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total marketable securities

 

$

375,474

 

 

$

371,912

 

 

$

342,198

 

 

$

341,741

 

 

The following table summarizes the estimated fair value and gross unrealized holding losses of marketable securities, aggregated by investment instrument and period of time in an unrealized loss position, at December 31, 2022 and January 1, 2022.

 

 

In Unrealized Loss Position
For Less Than 12 Months

 

 

In Unrealized Loss Position
For Greater Than 12 Months

 

 

 

Fair
 Value

 

 

Gross
 Unrealized
Losses

 

 

Fair
 Value

 

 

Gross
 Unrealized
Losses

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

96,301

 

 

$

1,273

 

 

$

69,159

 

 

$

1,082

 

Asset-backed securities

 

 

1,555

 

 

 

21

 

 

 

—

 

 

 

—

 

Certificates of deposit

 

 

22,400

 

 

 

118

 

 

 

—

 

 

 

—

 

Commercial paper

 

 

50,550

 

 

 

136

 

 

 

—

 

 

 

—

 

Corporate bonds

 

 

28,975

 

 

 

637

 

 

 

28,769

 

 

 

366

 

Total marketable securities

 

$

199,781

 

 

$

2,185

 

 

$

97,928

 

 

$

1,448

 

January 1, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

113,790

 

 

$

262

 

 

$

—

 

 

$

—

 

Certificates of deposit

 

 

16,300

 

 

 

10

 

 

 

—

 

 

 

—

 

Commercial paper

 

 

58,681

 

 

 

40

 

 

 

—

 

 

 

—

 

Corporate bonds

 

 

53,661

 

 

 

150

 

 

 

2,587

 

 

 

66

 

Total marketable securities

 

$

242,432

 

 

$

462

 

 

$

2,587

 

 

$

66

 

See Note 3 for additional discussion regarding the fair value of the Company’s marketable securities.