Investments (Tables)

6 Months Ended

Jul. 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 July 1, 2023 and December 31, 2022 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
July 1, 2023
Money market investments	$	6,264	$	—	$	—	$	6,264
Asset-backed securities		17,639		—		2,705		14,934
Corporate bonds and direct obligations of government agencies		121,137		1		6,962		114,176
U.S. Treasury obligations		16,058		1		102		15,957
Total	$	161,098	$	2	$	9,769	$	151,331
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 July 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
July 1, 2023
Asset-backed securities	$	—	$	—	$	14,934	$	2,705	$	14,934	$	2,705
Corporate bonds and direct obligations of government agencies		19,035		262		93,141		6,700		112,176		6,962
U.S. Treasury obligations		6,223		14		2,259		88		8,482		102
Total	$	25,258	$	276	$	110,334	$	9,493	$	135,592	$	9,769
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