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Marketable Securities
 3 Months Ended
Apr. 02, 2022
Marketable Securities [Abstract]  
Marketable Securities

NOTE 4. Marketable Securities

At April 2, 2022 and January 1, 2022, marketable securities are categorized as follows:

 

 

 

Amortized Cost

 

 

Gross Unrealized Holding Gains

 

 

Gross Unrealized Holding Losses

 

 

Fair Value

 

April 2, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

189,742

 

 

$

—

 

 

$

2,019

 

 

$

187,723

 

Asset-backed securities

 

 

2,201

 

 

 

—

 

 

 

13

 

 

 

2,188

 

Certificates of deposit

 

 

25,300

 

 

 

1

 

 

 

78

 

 

 

25,223

 

Commercial paper

 

 

80,210

 

 

 

—

 

 

 

244

 

 

 

79,966

 

Corporate bonds

 

 

75,451

 

 

 

—

 

 

 

1,103

 

 

 

74,348

 

Total marketable securities

 

$

372,904

 

 

$

1

 

 

$

3,457

 

 

$

369,448

 

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 Condensed Consolidated Balance Sheets classification, is as follows at April 2, 2022 and January 1, 2022:

 

 

 

April 2, 2022

 

 

January 1, 2022

 

 

 

Amortized Cost

 

 

Fair Value

 

 

Amortized Cost

 

 

Fair Value

 

Due within one year

 

$

259,879

 

 

$

258,530

 

 

$

219,353

 

 

$

219,211

 

Due after one through five years

 

 

113,025

 

 

 

110,918

 

 

 

122,845

 

 

 

122,530

 

Due after five years

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total marketable securities

 

$

372,904

 

 

$

369,448

 

 

$

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 April 2, 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

 

April 2, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal notes and bonds

 

$

187,811

 

 

$

2,002

 

 

$

1,930

 

 

$

17

 

Asset-backed securities

 

 

2,201

 

 

 

13

 

 

 

—

 

 

 

—

 

Certificates of deposit

 

 

25,300

 

 

 

78

 

 

 

—

 

 

 

—

 

Commercial paper

 

 

80,210

 

 

 

244

 

 

 

—

 

 

 

—

 

Corporate bonds

 

 

72,864

 

 

 

1,021

 

 

 

2,587

 

 

 

82

 

Total

 

$

368,386

 

 

$

3,358

 

 

$

4,517

 

 

$

99

 

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

 

$

242,432

 

 

$

462

 

 

$

2,587

 

 

$

66

 

 

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