Marketable Securities (Tables)
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3 Months Ended |
Mar. 29, 2025 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Marketable Securities Classified as Available-for-sale Securities |
Marketable securities classified as available-for-sale securities are summarized below:
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Available-For-Sale Securities
as of March 29, 2025 |
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Fair Value Level |
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Amortized Cost |
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Gross Unrealized
Gains |
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Gross Unrealized
Losses |
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Fair Value |
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U.S. Treasury securities |
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Level 2 |
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$ |
5,720 |
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$ |
44 |
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$ |
— |
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$ |
5,764 |
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Agency securities |
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Level 2 |
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51,194 |
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84 |
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(287 |
) |
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50,991 |
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Mortgage-backed securities |
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Level 2 |
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71,253 |
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252 |
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(2,862 |
) |
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68,643 |
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Corporate debt securities |
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Level 2 |
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1,333,884 |
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4,470 |
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(14,797 |
) |
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1,323,557 |
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Municipal securities |
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Level 2 |
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281,305 |
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238 |
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(7,394 |
) |
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274,149 |
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Other |
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Level 2 |
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2,406 |
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12 |
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(63 |
) |
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2,355 |
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Total |
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$ |
1,745,762 |
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$ |
5,100 |
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$ |
(25,403 |
) |
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$ |
1,725,459 |
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Available-For-Sale Securities
as of December 28, 2024 |
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Fair Value Level |
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Amortized Cost |
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Gross Unrealized
Gains |
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Gross Unrealized
Losses |
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Fair Value |
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U.S. Treasury securities |
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Level 2 |
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$ |
4,930 |
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$ |
8 |
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$ |
— |
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$ |
4,938 |
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Agency securities |
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Level 2 |
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42,236 |
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38 |
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(477 |
) |
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41,797 |
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Mortgage-backed securities |
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Level 2 |
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43,599 |
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— |
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(4,375 |
) |
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39,224 |
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Corporate debt securities |
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Level 2 |
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1,281,981 |
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1,498 |
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(23,837 |
) |
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1,259,642 |
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Municipal securities |
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Level 2 |
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281,295 |
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21 |
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(9,907 |
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271,409 |
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Other |
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Level 2 |
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2,683 |
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1 |
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(93 |
) |
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2,591 |
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Total |
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$ |
1,656,724 |
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$ |
1,566 |
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$ |
(38,689 |
) |
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$ |
1,619,601 |
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| Schedule of Gross Unrealized Losses and Fair Value by Major Security Type |
The following tables display additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of March 29, 2025 and December 28, 2024.
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As of March 29, 2025 |
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Less than 12 Consecutive Months |
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12 Consecutive Months or Longer |
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Total |
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Gross Unrealized Losses |
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Fair Value |
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Gross Unrealized Losses |
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Fair Value |
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Gross Unrealized Losses |
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Fair Value |
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Agency securities |
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$ |
(14 |
) |
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$ |
20,226 |
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$ |
(273 |
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$ |
6,727 |
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$ |
(287 |
) |
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$ |
26,953 |
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Mortgage-backed securities |
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(59 |
) |
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21,127 |
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(2,803 |
) |
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24,868 |
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(2,862 |
) |
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45,995 |
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Corporate debt securities |
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(1,624 |
) |
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238,067 |
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(13,173 |
) |
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597,821 |
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(14,797 |
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835,888 |
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Municipal securities |
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(70 |
) |
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18,992 |
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(7,324 |
) |
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223,300 |
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(7,394 |
) |
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242,292 |
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Other |
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(7 |
) |
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761 |
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(56 |
) |
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1,132 |
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(63 |
) |
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1,893 |
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Total |
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$ |
(1,774 |
) |
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$ |
299,173 |
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$ |
(23,629 |
) |
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$ |
853,848 |
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$ |
(25,403 |
) |
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$ |
1,153,021 |
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As of December 28, 2024 |
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Less than 12 Consecutive Months |
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12 Consecutive Months or Longer |
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Total |
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Gross Unrealized Losses |
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Fair Value |
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Gross Unrealized Losses |
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Fair Value |
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Gross Unrealized Losses |
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Fair Value |
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Agency securities |
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$ |
(125 |
) |
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$ |
24,153 |
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$ |
(352 |
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$ |
6,647 |
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$ |
(477 |
) |
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$ |
30,800 |
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Mortgage-backed securities |
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(137 |
) |
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9,803 |
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(4,238 |
) |
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29,421 |
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(4,375 |
) |
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39,224 |
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Corporate debt securities |
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(4,503 |
) |
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350,289 |
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(19,334 |
) |
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667,176 |
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(23,837 |
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1,017,465 |
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Municipal securities |
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(228 |
) |
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35,001 |
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(9,679 |
) |
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226,901 |
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(9,907 |
) |
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261,902 |
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Other |
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— |
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— |
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(93 |
) |
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1,619 |
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(93 |
) |
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1,619 |
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Total |
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$ |
(4,993 |
) |
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$ |
419,246 |
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$ |
(33,696 |
) |
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$ |
931,764 |
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$ |
(38,689 |
) |
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$ |
1,351,010 |
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| Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities by Maturity |
The amortized cost and fair value of marketable securities at March 29, 2025, by maturity, are shown below.
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Amortized Cost |
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Fair Value |
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Due in one year or less |
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$ |
505,028 |
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$ |
498,995 |
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Due after one year through five years |
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1,223,571 |
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1,211,086 |
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Due after five years through ten years |
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10,179 |
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9,538 |
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Due after ten years |
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6,984 |
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5,840 |
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Total |
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$ |
1,745,762 |
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$ |
1,725,459 |
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