v3.22.2.2
Cash, Cash Equivalents, and Marketable Securities
 9 Months Ended
Oct. 01, 2022
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Marketable Securities Cash, Cash Equivalents and Marketable Securities
The Company has invested its excess cash primarily in money market funds and highly liquid marketable securities such as commercial paper, corporate debt securities, municipal securities and U.S. government securities. The Company considers all investments with maturities of three months or less when purchased to be cash equivalents. Marketable securities represent commercial paper, U.S. government agency securities, corporate debt securities, municipal securities and U.S. government securities with maturities greater than 90 days at date of purchase. Cash equivalents are stated at amounts that approximate fair value based on quoted market prices. Marketable securities are recorded at their fair values.
Marketable securities with maturities greater than one year are classified as current because management considers all marketable securities to be available for current operations.
The Company’s investments have been classified and accounted for as available-for-sale. Such investments are recorded at fair value and unrealized holding gains and losses are reported as a separate component of accumulated other comprehensive loss in the stockholders’ equity until realized. Realized gains and losses on sales of marketable securities, if any, are determined on the specific identification method and are reclassified from accumulated other comprehensive loss to results of operations as other expense, net. There were no realized gains and losses for the three and nine months ended October 1, 2022 and October 2, 2021, respectively.
Cash, cash equivalents and marketable securities consisted of the following (in thousands):
October 1,
2022		December 31,
2021
Cash and cash equivalents:
Cash$33,807 $26,442 
Commercial paper34,377 21,582 
U.S. government securities6,966 — 
Money market funds22 2,320 
Corporate debt securities— 989 
Total cash and cash equivalents75,172 51,333 
Marketable securities:
U.S. government securities109,548 60,279 
Commercial paper28,953 80,812 
U.S. government agency securities20,533 5,527 
Corporate debt securities249 3,576 
Municipal securities251 2,808 
Total marketable securities159,534 153,002 
$234,706 $204,335 
The carrying amounts of the Company’s money market funds approximate their fair values due to their nature, duration and short maturities.
The amortized cost and fair value of marketable securities as of October 1, 2022 were as follows (in thousands):
Amortized CostGross Unrealized LossesFair Value
U.S. government securities$118,340 $(1,826)$116,514 
Commercial paper63,405 (75)63,330 
U.S. government agency securities20,763 (230)20,533 
Municipal securities252 (1)251 
Corporate debt securities251 (2)249 
Total marketable securities$203,011 $(2,134)$200,877 
Unrealized gains and losses were de minimis as of December 31, 2021.