v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jul. 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 July 5, 2026 (in thousands):
Fair Value LevelAmortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueCash and Cash EquivalentsCurrent InvestmentsNon-current Investments
Cash$232,252 $— $— $232,252 $232,252 $— $— 
Money market instrumentsLevel 170,269 — — 70,269 70,269 — — 
Corporate bondsLevel 2429,801 829 (1,958)428,672 — 95,908 332,764 
Treasury notesLevel 220,394 3 (69)20,328 — 5,941 14,387 
Asset-backed securitiesLevel 23,758 — (266)3,492 — — 3,492 
Total$756,474 $832 $(2,293)$755,013 $302,521 $101,849 $350,643 
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 $305,339 
Realized Gain (Loss) on Investments
The following table summarizes the Company's gross realized gains and losses on the sale of debt securities for the three-month and six-month periods ended July 5, 2026 and June 29, 2025, respectively (in thousands):
Three-months EndedSix-months Ended
July 5, 2026June 29, 2025July 5, 2026June 29, 2025
Gross realized gains$— $30 $28 $57 
Gross realized losses— (3)— (3)
Net realized gains (losses)$— $27 $28 $54 
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 July 5, 2026 (in thousands):
<1 year1-2 Years2-3 Years3-4 Years4-5 Years5-8 YearsTotal
Corporate bonds$95,908 $87,861 $120,459 $54,883 $69,561 $— $428,672 
Treasury notes5,941 14,387 — — — — 20,328 
Asset-backed securities— — 1,404 — — 2,088 3,492 
$101,849 $102,248 $121,863 $54,883 $69,561 $2,088 $452,492 
Schedule of Notional Amounts of Outstanding Derivative Positions
The Company had the following outstanding forward contracts (in thousands):
July 5, 2026December 31, 2025
CurrencyNotional
Value		USD
Equivalent		Notional
Value		USD
Equivalent
Derivatives Not Designated as Hedging Instruments:
Singapore Dollar46,000 $36,636 — $— 
Chinese Renminbi200,000 29,533 20,000 2,865 
Euro17,100 14,735 — — 
Mexican Peso250,000 14,269 160,000 8,881 
Hungarian Forint2,500,000 8,023 2,500,000 7,600 
British Pound4,000 5,308 4,000 5,383 
Indian Rupee300,000 3,163 400,000 4,436 
Swiss Franc2,000 2,487 — — 
Korean Won— — 9,000,000 6,239 
Japanese Yen— — 400,000 2,563 
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 LevelJuly 5, 2026December 31, 2025Balance Sheet LocationFair Value LevelJuly 5, 2026December 31, 2025
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contractsPrepaid expenses and other current assetsLevel 2$501 $791 Accrued expensesLevel 2$1,979 $367 
Activity:
Gross amounts recognized$501 $791 $1,979 $367 
Gross amounts offset— — — — 
Net amounts presented on the Consolidated Balance Sheets$501 $791 $1,979 $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 EndedSix-months Ended
July 5, 2026June 29, 2025July 5, 2026June 29, 2025
Derivatives Not Designated as Hedging Instruments:
Gains (losses) recognized in current operationsForeign currency gain (loss)$243 $(420)$(518)$(967)
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 July 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$235,846 $(1,950)$4,992 $(8)$240,838 $(1,958)
Treasury notes17,346 (69)— — 17,346 (69)
Asset-backed securities— — 3,492 (266)3,492 (266)
$253,192 $(2,019)$8,484 $(274)$261,676 $(2,293)
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)