v3.26.1
Marketable Securities - (Tables)
 6 Months Ended
Jun. 30, 2026
Marketable Securities [Abstract]  
Schedule of Marketable Securities by Category

At June 30, 2026 and January 3, 2026, marketable securities are categorized as follows:

 

 

Amortized Cost

 

 

Gross Unrealized
Gains

 

 

Gross Unrealized
Losses

 

 

Estimated
Fair Value

 

 

 

(in thousands)

 

June 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Federal and municipal notes and bonds

 

$

308,452

 

 

$

84

 

 

$

(245

)

 

$

308,291

 

Certificates of deposit

 

 

74,055

 

 

 

3

 

 

 

(88

)

 

 

73,970

 

Commercial paper

 

 

179,163

 

 

 

6

 

 

 

(72

)

 

 

179,097

 

Corporate bonds

 

 

67,680

 

 

 

32

 

 

 

(125

)

 

 

67,587

 

Total marketable securities

 

$

629,350

 

 

$

125

 

 

$

(530

)

 

$

628,945

 

January 3, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Federal and municipal notes and bonds

 

$

149,004

 

 

$

551

 

 

$

(1

)

 

$

149,554

 

Certificates of deposit

 

 

47,243

 

 

 

95

 

 

 

—

 

 

 

47,338

 

Commercial paper

 

 

32,188

 

 

 

16

 

 

 

—

 

 

 

32,204

 

Corporate bonds

 

 

64,214

 

 

 

193

 

 

 

—

 

 

 

64,407

 

Total marketable securities

 

$

292,649

 

 

$

855

 

 

$

(1

)

 

$

293,503

 
Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities Classified by Maturity Date

As of June 30, 2026, all of the Company’s marketable securities are available to the Company for use in its current operations. As a result, the Company has classified all of these securities as current assets even though the stated maturity of

some individual securities may be one year or more beyond the balance sheet date. The following table shows the fair value of the Company’s marketable securities, by contractual maturity, as of June 30, 2026:

 

 

June 30, 2026

 

January 3, 2026

 

 

 

Fair Value

 

 

Fair Value

 

 

 

(in thousands)

 

Due within one year

 

$

546,640

 

 

$

233,043

 

Due after one through five years

 

 

82,305

 

 

 

60,460

 

Total marketable securities

 

$

628,945

 

 

$

293,503

 

The aggregate fair value of marketable securities with unrealized losses was $405 million and $21.2 million as of June 30, 2026 and January 3, 2026, respectively. All unrealized losses are reported in Stockholders’ Equity under the caption “Accumulated other comprehensive loss.” As of June 30, 2026 and January 3, 2026, 125 investments and 11 investments were in an unrealized loss position, respectively. All such investments have been in an unrealized loss position for less than a year and these losses are considered temporary. As of June 30, 2026 and January 3, 2026, one investment and two investments were in an unrealized loss position, respectively, for greater than a year. The Company has the ability and intent to hold these investments until a recovery of their amortized cost, which may not occur until maturity. The Company expects these securities are subject to minimal credit risk. As a result, the Company did not record any charges for credit-related impairments for its available-for-sale securities for the three and six months ended June 30, 2026 and June 28, 2025.