Cash, Cash Equivalents, and Investments (Tables)

3 Months Ended

Apr. 04, 2021

Cash and Cash Equivalents [Abstract]

Components of Cash, Cash Equivalents, and Investments

Cash, cash equivalents, and investments consisted of the following (in thousands):

	April 4, 2021		December 31, 2020
Cash	$	207,313	$	266,609
Commercial paper	10,000		—
Money market instruments	25,375		2,464
Cash and cash equivalents	242,688		269,073
Treasury bills	66,261		35,403
Corporate bonds	50,410		32,714
Asset-backed securities	16,645		25,160
Sovereign bonds	8,621		8,660
Municipal bonds	1,296		1,303
Current investments	143,233		103,240
Corporate bonds	334,351		203,428
Treasury bills	65,148		96,458
Asset-backed securities	62,755		67,058
Agency bonds	18,961		19,006
Municipal bonds	5,719		5,735
Sovereign bonds	3,429		3,440
Non-current investments	490,363		395,125
	$	876,284	$	767,438

Summary of Available-for-Sale Investments

The following table summarizes the Company’s available-for-sale investments as of April 4, 2021 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Current:
Treasury bills	$	65,830	$	431	$	—	$	66,261
Corporate bonds	50,164		261		(15)		50,410
Asset-backed securities	16,587		64		(6)		16,645
Sovereign bonds	8,592		29		—		8,621
Municipal bonds	1,296		—		—		1,296
Non-current:
Corporate bonds	333,094		1,962		(705)		334,351
Treasury bills	64,506		642		—		65,148
Asset-backed securities	62,368		393		(6)		62,755
Agency bonds	18,917		44		—		18,961
Municipal bonds	5,714		18		(13)		5,719
Sovereign bonds	3,379		50		—		3,429
	$	630,447	$	3,894	$	(745)	$	633,596

Gross Unrealized Losses and Fair Values for Available-for-Sale Investments

The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of April 4, 2021 (in thousands):

	Unrealized Loss Position For:
	Less than 12 Months				12 Months or Greater				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate bonds	$	176,773	$	(720)	$	—	$	—	$	176,773	$	(720)
Municipal bonds	5,257		(13)		—		—		5,257		(13)
Asset-backed securities	4,533		(12)		—		—		4,533		(12)
	$	186,563	$	(745)	$	—	$	—	$	186,563	$	(745)

Effective Maturity Dates of Available-for-Sale Investments

The following table presents the effective maturity dates of the Company’s available-for-sale investments as of April 4, 2021 (in thousands):

	<1 year		1-2 Years		2-3 Years		3-4 Years		4-5 Years		Total
Corporate bonds	$	50,410	$	130,867	$	143,430	$	58,992	$	1,062	$	384,761
Treasury bills	66,261		64,035		1,113		—		—		131,409
Asset-backed securities	16,645		42,114		20,159		482		—		79,400
Agency bonds	—		2,800		16,161		—		—		18,961
Sovereign bonds	8,621		—		3,429		—		—		12,050
Municipal bonds	1,296		5,068		651		—		—		7,015
	$	143,233	$	244,884	$	184,943	$	59,474	$	1,062	$	633,596