MARKETABLE SECURITIES

The Company accounts for its marketable securities as available for sale (“AFS”). The Company recorded $0.8 million and $2.8 million of net unrealized loss in Accumulated other comprehensive income (“AOCI”) as of March 31, 2019, and December 30, 2018, respectively.

The following tables present the amortized cost, gross unrealized gains and losses, and fair market value of our AFS debt securities as of March 31, 2019, and December 30, 2018:



	March 31, 2019
(In thousands)	Amortized Cost		Gross unrealized gains		Gross unrealized losses			Fair Value
Short-term AFS securities
Corporate debt securities	$	141,399	$	25	$	(279	)	$	141,145
U.S. Treasury securities	121,241		9		(183		)	121,067
U.S. governmental agency securities	88,157		8		(346		)	87,819
Certificates of deposit	21,688		—		—			21,688
Commercial paper	16,358		—		—			16,358
Total short-term AFS securities	$	388,843	$	42	$	(808	)	$	388,077
Long-term AFS securities
Corporate debt securities	$	107,085	$	372	$	(165	)	$	107,292
U.S. governmental agency securities	39,315		7		(92		)	39,230
U.S. Treasury securities	38,688		28		(155		)	38,561
Total long-term AFS securities	$	185,088	$	407	$	(412	)	$	185,083



	December 30, 2018
(In thousands)	Amortized Cost		Gross unrealized gains		Gross unrealized losses			Fair Value
Short-term AFS securities
Corporate debt securities	$	140,631	$	1	$	(464	)	$	140,168
U.S. Treasury securities	107,717		—		(232		)	107,485
U.S. governmental agency securities	92,628		—		(654		)	91,974
Certificates of deposit	23,497		—		—			23,497
Commercial paper	8,177		—		—			8,177
Total short-term AFS securities	$	372,650	$	1	$	(1,350	)	$	371,301
Long-term AFS securities
Corporate debt securities	$	130,612	$	44	$	(1,032	)	$	129,624
U.S. governmental agency securities	37,362		3		(168		)	37,197
U.S. Treasury securities	47,079		5		(347		)	46,737
Total long-term AFS securities	$	215,053	$	52	$	(1,547	)	$	213,558

The following tables represent the AFS securities as of March 31, 2019, and December 30, 2018, that were in an unrealized loss position, aggregated by investment category and the length of time that individual securities have been in a continuous loss position:



	March 31, 2019
	Less than 12 Months					12 Months or Greater					Total
(In thousands)	Fair Value		Gross unrealized losses			Fair Value		Gross unrealized losses			Fair Value		Gross unrealized losses
Short-term AFS securities
Corporate debt securities	$	41,565	$	(8	)	$	65,613	$	(271	)	$	107,178	$	(279	)
U.S. Treasury securities	40,594		(7		)	36,612		(176		)	77,206		(183		)
U.S. governmental agency securities	8,347		(6		)	71,267		(340		)	79,614		(346		)
Total short-term AFS securities	$	90,506	$	(21	)	$	173,492	$	(787	)	$	263,998	$	(808	)
Long-term AFS securities
Corporate debt securities	$	28,658	$	(57	)	$	15,799	$	(108	)	$	44,457	$	(165	)
U.S. governmental agency securities	13,289		(22		)	11,929		(70		)	25,218		(92		)
U.S. Treasury securities	9,491		(20		)	15,553		(135		)	25,044		(155		)
Total long-term AFS securities	$	51,438	$	(99	)	$	43,281	$	(313	)	$	94,719	$	(412	)



	December 30, 2018
	Less than 12 Months					12 Months or Greater					Total
(In thousands)	Fair Value		Gross unrealized losses			Fair Value		Gross unrealized losses			Fair Value		Gross unrealized losses
Short-term AFS securities
Corporate debt securities	$	76,886	$	(115	)	$	61,459	$	(349	)	$	138,345	$	(464	)
U.S. Treasury securities	70,830		(31		)	28,207		(201		)	99,037		(232		)
U.S. governmental agency securities	11,664		(4		)	80,311		(650		)	91,975		(654		)
Certificates of deposit	$	1,599	$	—		$	—	$	—		$	1,599	$	—
Total short-term AFS securities	$	160,979	$	(150	)	$	169,977	$	(1,200	)	$	330,956	$	(1,350	)
Long-term AFS securities
Corporate debt securities	$	81,655	$	(570	)	$	27,265	$	(462	)	$	108,920	$	(1,032	)
U.S. governmental agency securities	21,579		(36		)	11,868		(132		)	33,447		(168		)
U.S. Treasury securities	20,479		(29		)	23,762		(318		)	44,241		(347		)
Total long-term AFS securities	$	123,713	$	(635	)	$	62,895	$	(912	)	$	186,608	$	(1,547	)

We conduct an other-than-temporary impairment (“OTTI”) analysis on a quarterly basis or more often if a potential loss-triggering event occurs. We consider factors such as the duration, severity and the reason for the decline in value, the potential recovery period and whether we intend to sell. We also consider whether (i) it is more likely than not that we will be required to sell the debt securities before recovery of their amortized cost basis and (ii) the amortized cost basis cannot be recovered as a result of credit losses.

As of March 31, 2019, we did not intend to sell and it was not likely that we would be required to sell these investments before recovery of their amortized cost basis, which may be at maturity. Unrealized losses related to these investments are primarily due to interest rate fluctuations as opposed to changes in credit quality. Therefore, as of March 31, 2019, we have recognized no OTTI loss.

As of March 31, 2019, our short-term and long-term marketable securities had remaining maturities of less than 1 month to 12 months and 13 months to 36 months, respectively. See Note 9 for more information regarding the fair value of our marketable securities.