Fair Value (Tables)

6 Months Ended

Jul. 02, 2022

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

The fair value of financial assets and liabilities was determined using the following levels of inputs as of July 2, 2022 and January 1, 2022:

	Fair Value Measurements as of July 2, 2022
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	501,795	$	501,795	$	—	$	—
Marketable equity securities	4,371		4,371		—		—
Securities held in Non-Qualified Deferred Compensation (“NQDC”) trust	49,196		49,196		—		—
Total Assets	$	555,362	$	555,362	$	—	$	—
	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities
Foreign currency exchange contracts	$	6,915	$	—	$	6,915	$	—
Total Liabilities	$	6,915	$	—	$	6,915	$	—
	Fair Value Measurements as of January 1, 2022
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	658,474	$	658,474	$	—	$	—
Marketable equity securities	5,956		5,956		—		—
Securities held in NQDC trust	56,165		56,165		—		—
Total Assets	$	720,595	$	720,595	$	—	$	—
	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities
Foreign currency exchange contracts	$	306	$	—	$	306	$	—
Total Liabilities	$	306	$	—	$	306	$	—