The following table summarizes the Company’s available-for-sale investment securities as of June 29, 2025:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Fair Value
U.S. corporate bonds and U.S. dollar denominated foreign bonds	$	1,368	$	1	$	—		$	—	$	1,369
U.S. Treasury Bills		45,427		—		(23	)		—		45,404
Total	$	46,795	$	1	$	(23	)	$	—	$	46,773

The following table summarizes the Company’s available-for-sale investment securities as of December 29, 2024:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Fair Value
U.S. corporate bonds and U.S. dollar denominated foreign bonds	$	9,702	$	15	$	(25	)	$	—	$	9,692
Total	$	9,702	$	15	$	(25	)	$	—	$	9,692

For the 13-week periods ended June 29, 2025 and June 30, 2024, there were no proceeds from the sale of available-for-sale securities. For the 26-week periods ended June 29, 2025 and June 30, 2024, proceeds from the sale of available-for-sale securities were $404 and $0, respectively.

Actual maturities may differ from contractual maturities because some borrowers have the right to call or prepay obligations with or without call or prepayment penalties. The amortized cost and fair value of the Company’s investments in available-for-sale securities as of June 29, 2025 by contractual maturity are as follows:


	Amortized Cost		Fair Value
Due within one year	$	46,795	$	46,773
Due after one year through five years		—		—
Total available-for-sale	$	46,795	$	46,773

The following tables present the Company’s unrealized loss aging for available-for-sale securities by type and length of time the security was in a continuous unrealized loss position as of the periods presented:


	June 29, 2025
	Less than 12 months					12 months or longer				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. corporate bonds and U.S. dollar denominated foreign bonds	$	710	$	—		$	—	$	—	$	710	$	—
U.S. Treasury Bills		35,413		(23	)		—		—		35,413		(23	)
Total	$	36,123	$	(23	)	$	—	$	—	$	36,123	$	(23	)


	December 29, 2024
	Less than 12 months				12 months or longer					Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. corporate bonds and U.S. dollar denominated foreign bonds	$	—	$	—	$	8,014	$	(25	)	$	8,014	$	(25	)
Total	$	—	$	—	$	8,014	$	(25	)	$	8,014	$	(25	)

As of June 29, 2025, there were five diversified issuances in the Company’s securities portfolio in an unrealized loss position, with credit ratings from BBB to A-1+. As of June 29, 2025, there are no individual securities with unrealized losses exceeding $8, and no issuances have been in a loss position greater than 12 months.

The decline in fair value has resulted primarily from changes in interest rates, and the Company does not believe there has been any significant decline in the creditworthiness of the issuers. The Company also does not believe it is likely that a significant number of bonds will be called early, and it does not have liquidity needs that would necessitate a sale of any material investments prior to maturity. Therefore, the Company has not recorded an allowance for credit losses on the investment securities as of June 29, 2025.

The fair value and location of all investment securities are included in “Fair Value Measurements” in Note 5 below.