Marketable Securities (Tables)
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6 Months Ended |
Jun. 28, 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 June 28, 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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$ |
5,773 |
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$ |
50 |
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$ |
— |
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$ |
5,823 |
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Agency securities |
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Level 2 |
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65,702 |
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58 |
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(229 |
) |
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65,531 |
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Mortgage-backed securities |
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Level 2 |
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96,042 |
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370 |
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(1,853 |
) |
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94,559 |
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Corporate debt securities |
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Level 2 |
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1,367,634 |
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6,446 |
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(10,506 |
) |
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1,363,574 |
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Municipal securities |
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Level 2 |
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274,713 |
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381 |
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(5,412 |
) |
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269,682 |
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Other |
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Level 2 |
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1,801 |
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— |
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(45 |
) |
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1,756 |
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Total |
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$ |
1,811,665 |
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$ |
7,305 |
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$ |
(18,045 |
) |
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$ |
1,800,925 |
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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 June 28, 2025 and December 28, 2024.
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As of June 28, 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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$ |
(9 |
) |
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$ |
20,966 |
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$ |
(220 |
) |
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$ |
6,780 |
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$ |
(229 |
) |
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$ |
27,746 |
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Mortgage-backed securities |
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(90 |
) |
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25,529 |
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(1,763 |
) |
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16,334 |
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(1,853 |
) |
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41,863 |
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Corporate debt securities |
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(1,321 |
) |
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233,406 |
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(9,185 |
) |
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476,545 |
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(10,506 |
) |
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709,951 |
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Municipal securities |
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(107 |
) |
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15,602 |
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(5,305 |
) |
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205,337 |
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(5,412 |
) |
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220,939 |
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Other |
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(5 |
) |
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653 |
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(40 |
) |
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1,103 |
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(45 |
) |
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1,756 |
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Total |
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$ |
(1,532 |
) |
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$ |
296,156 |
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$ |
(16,513 |
) |
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$ |
706,099 |
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$ |
(18,045 |
) |
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$ |
1,002,255 |
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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 June 28, 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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$ |
521,022 |
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$ |
515,038 |
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Due after one year through five years |
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1,260,979 |
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1,257,852 |
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Due after five years through ten years |
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24,593 |
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23,921 |
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Due after ten years |
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5,071 |
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4,114 |
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Total |
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$ |
1,811,665 |
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$ |
1,800,925 |
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