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Cash, Cash Equivalents, and Investments
 9 Months Ended
Oct. 02, 2022
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents, and Investments Cash, Cash Equivalents, and Investments
Cash, cash equivalents, and investments consisted of the following (in thousands):
October 2, 2022December 31, 2021
Cash$265,500 $185,624 
Money market instruments504 537 
Cash and cash equivalents266,004 186,161 
Corporate bonds151,014 73,088 
Asset-backed securities28,119 37,655 
Agency bonds15,759 2,802 
Treasury bills12,918 18,912 
Municipal bonds620 4,998 
Current investments208,430 137,455 
Corporate bonds304,206 481,218 
Asset-backed securities28,389 43,940 
Treasury bills8,673 39,753 
Sovereign bonds1,930 2,119 
Agency bonds— 16,077 
Municipal bonds— 641 
Non-current investments343,198 583,748 
$817,632 $907,364 
Corporate bonds consist of debt securities issued by both domestic and foreign companies; asset-backed securities consist of debt securities collateralized by pools of receivables or loans with credit enhancement; agency bonds consist of domestic or foreign obligations of government agencies and government-sponsored enterprises that have government backing; treasury bills consist of debt securities issued by the U.S. government; municipal bonds consist of debt securities issued by state and local government entities; and sovereign bonds consist of direct debt issued by foreign governments. All of the Company's securities as of October 2, 2022 and December 31, 2021 were denominated in U.S. Dollars.
Accrued interest receivable is recorded in "Prepaid expenses and other current assets" on the Consolidated Balance Sheet and amounted to $3,011,000 and $3,037,000 as of October 2, 2022 and December 31, 2021, respectively.
The following table summarizes the Company’s available-for-sale investments as of October 2, 2022 (in thousands):
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Current:
Corporate bonds$154,399 $— $(3,385)$151,014 
Asset-backed securities28,764 — (645)28,119 
Agency bonds16,140 — (381)15,759 
Treasury bills13,106 1 (189)12,918 
Municipal bonds635 — (15)620 
Non-current:
Corporate bonds328,548 — (24,342)304,206 
Asset-backed securities30,227 — (1,838)28,389 
Treasury bills8,987 — (314)8,673 
Sovereign bonds2,106 — (176)1,930 
$582,912 $1 $(31,285)$551,628 
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 October 2, 2022 (in thousands):
 Unrealized Loss Position For: 
 Less than 12 Months12 Months or GreaterTotal
 Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Corporate bonds$390,656 $(23,263)$64,564 $(4,464)$455,220 $(27,727)
Asset-backed securities56,125 (2,455)383 (28)56,508 (2,483)
Treasury bills19,427 (499)101 (4)19,528 (503)
Agency bonds15,759 (381)— — 15,759 (381)
Sovereign bonds1,930 (176)— — 1,930 (176)
Municipal bonds620 (15)— — 620 (15)
$484,517 $(26,789)$65,048 $(4,496)$549,565 $(31,285)
Management monitors debt securities that are in an unrealized loss position to determine whether a loss exists related to the credit quality of the issuer. When developing an estimate of expected credit losses, management considers all relevant information including historical experience, current conditions, and reasonable forecasts of expected future cash flows. Based on this evaluation, no allowance for credit losses on debt securities was recorded as of October 2, 2022 or December 31, 2021. There was no activity recorded in the allowance for credit losses during the three-month or nine-month periods ended October 2, 2022 or October 3, 2021.
The Company recorded no gross realized gains on the sale of debt securities for the three-month period ended October 2, 2022 and gross realized gains on the sale of debt securities totaling $133,000 for the nine-month period ended October 2, 2022, and gross realized losses on the sale of debt securities totaling $79,000 and $236,000 for the three-month and nine-month periods ended October 2, 2022, respectively. The Company recorded gross realized gains on the sale of debt securities totaling $19,000 and $87,000 for the three-month and nine-month periods ended October 3, 2021, respectively, and no gross realized losses on the sale of debt securities for the three-month and nine-month periods ended October 3, 2021. Realized gains and losses are included in "Investment income" on the Consolidated Statements of Operations. Prior to the sale of these securities, unrealized gains and losses for these debt securities, net of tax, were recorded in shareholders’ equity as accumulated other comprehensive loss.
The following table presents the effective maturity dates of the Company’s available-for-sale investments as of October 2, 2022 (in thousands):
<1 year1-2 Years2-3 Years3-4 Years4-5 YearsTotal
Corporate bonds$151,014 $157,264 $104,838 $42,104 $— $455,220 
Asset-backed securities28,119 16,384 3,202 8,803 — 56,508 
Treasury bills12,918 6,265 2,408 — — 21,591 
Agency bonds15,759 — — — — 15,759 
Sovereign bonds— 970 — 960 — 1,930 
Municipal bonds620 — — — — 620 
$208,430 $180,883 $110,448 $51,867 $— $551,628