Investments (Tables)

3 Months Ended

Apr. 01, 2023

Amortized Cost and Fair Value of Available-for-Sale Investments

The amortized cost and fair values of available-for-sale investments are as follows at April 1, 2023 and December 31, 2022 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
April 1, 2023
Money market investments	$	272	$	—	$	—	$	272
Asset-backed securities		18,298		—		2,656		15,642
Corporate bonds and direct obligations of government agencies		125,819		6		6,633		119,192
U.S. Treasury obligations		15,891		25		79		15,837
Total	$	160,280	$	31	$	9,368	$	150,943
December 31, 2022
Money market investments	$	21,910	$	—	$	—	$	21,910
Asset-backed securities		18,905		—		2,889		16,016
Corporate bonds and direct obligations of government agencies		126,134		1		7,775		118,360
U.S. Treasury obligations		2,344		—		100		2,244
Total	$	169,293	$	1	$	10,764	$	158,530

Schedule of Unrealized Loss on Available-for-Sale Investments

For those available-for-sale investments with unrealized losses at April 1, 2023 and December 31, 2022, the following table summarizes the duration of the unrealized loss (in thousands):

	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
April 1, 2023
Asset-backed securities	$	—	$	—	$	15,642	$	2,656	$	15,642	$	2,656
Corporate bonds and direct obligations of government agencies		24,046		62		93,621		6,571		117,667		6,633
U.S. Treasury obligations		—		—		2,266		79		2,266		79
Total	$	24,046	$	62	$	111,529	$	9,306	$	135,575	$	9,368
December 31, 2022
Asset-backed securities	$	—	$	—	$	16,016	$	2,889	$	16,016	$	2,889
Corporate bonds and direct obligations of government agencies		54,031		1,516		62,390		6,259		116,421		7,775
U.S. Treasury obligations		2,244		100		—		—		2,244		100
Total	$	56,275	$	1,616	$	78,406	$	9,148	$	134,681	$	10,764