v3.26.1
Financial Instruments (Tables)
 3 Months Ended
Apr. 05, 2026
Fair Value Disclosures [Abstract]  
Summary of Available-for-Sale Investments
The following table summarizes the Company’s cash, cash equivalents, and investments as of April 5, 2026 (in thousands):
Fair Value LevelAmortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueCash and Cash EquivalentsCurrent InvestmentsNon-current Investments
Cash$178,191 $— $— $178,191 $178,191 $— $— 
Money market instrumentsLevel 159,152 — — 59,152 59,152 — — 
Corporate bondsLevel 2360,314 1,399 (1,304)360,409 — 58,428 301,981 
Treasury notesLevel 220,365 26 (26)20,365 — 985 19,380 
Asset-backed securitiesLevel 24,116 — (291)3,825 — — 3,825 
Total$622,138 $1,425 $(1,621)$621,942 $237,343 $59,413 $325,186 
The following table summarizes the Company’s cash, cash equivalents, and investments as of December 31, 2025 (in thousands):
Fair Value LevelAmortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueCash and Cash EquivalentsCurrent InvestmentsNon-current Investments
Cash$199,755 $— $— $199,755 $199,755 $— $— 
Money market instrumentsLevel 163,170 — — 63,170 63,170 — — 
Corporate bondsLevel 2342,442 3,149 (240)345,351 — 66,625 278,726 
Treasury notesLevel 229,676 167 — 29,843 — 7,412 22,431 
Asset-backed securitiesLevel 24,471 — (289)4,182 — — 4,182 
Total$639,514 $3,316 $(529)$642,301 $262,925 $74,037 $305,339 
Realized Gain (Loss) on Investments
The following table summarizes the Company's gross realized gains and losses on the sale of debt securities for the three-month periods ended April 5, 2026 and March 30, 2025 (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Gross realized gains$28 $27 
Gross realized losses— — 
Net realized gains (losses)$28 $27 
Effective Maturity Dates of Available-for-Sale Investments
The following table presents the effective maturity dates of the Company’s available-for-sale investments as of April 5, 2026 (in thousands):
<1 year1-2 Years2-3 Years3-4 Years4-5 YearsTotal
Corporate bonds$58,428 $82,557 $115,212 $53,935 $50,277 $360,409 
Treasury notes985 17,389 1,991 — — 20,365 
Asset-backed securities— — — 3,728 97 3,825 
$59,413 $99,946 $117,203 $57,663 $50,374 $384,599 
Schedule of Notional Amounts of Outstanding Derivative Positions
The Company had the following outstanding forward contracts (in thousands):
April 5, 2026December 31, 2025
CurrencyNotional
Value		USD
Equivalent		Notional
Value		USD
Equivalent
Derivatives Not Designated as Hedging Instruments:
Singapore Dollar34,000 $27,335 — $— 
Chinese Renminbi170,000 24,734 20,000 2,865 
Euro15,000 17,343 — — 
Mexican Peso150,000 8,380 160,000 8,881 
Hungarian Forint2,500,000 7,517 2,500,000 7,600 
British Pound4,000 5,297 4,000 5,383 
Japanese Yen800,000 5,034 400,000 2,563 
Swiss Franc2,000 2,515 — — 
Indian Rupee225,000 2,399 400,000 4,436 
Korean Won3,000,000 1,988 9,000,000 6,239 
Offsetting Assets
Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):
Asset DerivativesLiability Derivatives
Fair ValueFair Value
Balance Sheet LocationFair Value LevelApril 5, 2026December 31, 2025Balance Sheet LocationFair Value LevelApril 5, 2026December 31, 2025
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contractsPrepaid expenses and other current assetsLevel 2$985 $791 Accrued expensesLevel 2$1,856 $367 
Activity:
Gross amounts recognized$985 $791 $1,856 $367 
Gross amounts offset— — — — 
Net amounts presented on the Consolidated Balance Sheets$985 $791 $1,856 $367 
Derivative Instruments, Gain (Loss)
Information regarding the effect of derivative instruments on the Consolidated Statements of Operations was as follows (in thousands):
Statement of Operations LocationThree-months Ended
April 5, 2026March 30, 2025
Derivatives Not Designated as Hedging Instruments:
Gains (losses) recognized in current operationsForeign currency gain (loss)$(761)$(547)
Gross Unrealized Losses and Fair Values for Available-for-Sale Investments
The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of April 5, 2026 (in thousands):
Unrealized Loss Position For:
Less than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Corporate bonds$138,944 $(1,242)$11,537 $(62)$150,481 $(1,304)
Treasury notes7,167 (26)— — 7,167 (26)
Asset-backed securities— — 3,825 (291)3,825 (291)
$146,111 $(1,268)$15,362 $(353)$161,473 $(1,621)
The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of December 31, 2025 (in thousands):
Unrealized Loss Position For:
Less than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Corporate bonds$30,602 $(73)$22,412 $(167)$53,014 $(240)
Asset-backed securities— — 4,182 (289)4,182 (289)
$30,602 $(73)$26,594 $(456)$57,196 $(529)