Cash, Cash Equivalents, and Investments (Tables)

6 Months Ended

Jul. 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):

	July 4, 2021		December 31, 2020
Cash	$	216,837	$	266,609
Money market instruments	200		2,464
Cash and cash equivalents	217,037		269,073
Treasury bills	92,939		35,403
Corporate bonds	66,452		32,714
Asset-backed securities	24,756		25,160
Sovereign bonds	4,196		8,660
Municipal bonds	2,404		1,303
Current investments	190,747		103,240
Corporate bonds	415,784		203,428
Asset-backed securities	65,509		67,058
Treasury bills	38,022		96,458
Agency bonds	18,960		19,006
Municipal bonds	4,593		5,735
Sovereign bonds	1,097		3,440
Non-current investments	543,965		395,125
	$	951,749	$	767,438

Summary of Available-for-Sale Investments

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Current:
Treasury bills	$	92,502	$	437	$	—	$	92,939
Corporate bonds	66,164		291		(3)		66,452
Asset-backed securities	24,562		197		(3)		24,756
Sovereign bonds	4,189		7		—		4,196
Municipal bonds	2,401		3		—		2,404
Non-current:
Corporate bonds	414,453		1,874		(543)		415,784
Asset-backed securities	65,276		315		(82)		65,509
Treasury bills	37,677		345		—		38,022
Agency bonds	18,921		39		—		18,960
Municipal bonds	4,592		12		(11)		4,593
Sovereign bonds	1,096		1		—		1,097
	$	731,833	$	3,521	$	(642)	$	734,712

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 July 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	$	179,565	$	(546)	$	—	$	—	$	179,565	$	(546)
Asset-backed securities	13,088		(85)		—		—		13,088		(85)
Municipal bonds	3,946		(11)		—		—		3,946		(11)
	$	196,599	$	(642)	$	—	$	—	$	196,599	$	(642)

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 July 4, 2021 (in thousands):

	<1 year		1-2 Years		2-3 Years		3-4 Years		4-5 Years		5-8 Years		Total
Corporate bonds	$	66,452	$	161,596	$	139,870	$	77,234	$	30,143	$	6,941	$	482,236
Treasury bills	92,939		37,917		105		—		—		—		130,961
Asset-backed securities	24,756		30,896		20,090		9,510		—		5,013		90,265
Agency bonds	—		18,960		—		—		—		—		18,960
Municipal bonds	2,404		4,593		—		—		—		—		6,997
Sovereign bonds	4,196		—		—		—		1,097		—		5,293
	$	190,747	$	253,962	$	160,065	$	86,744	$	31,240	$	11,954	$	734,712