June 26, 20210000050863December 252021Q2FALSE81,55877,6454,0574,0624,0574,0620.6950.6600000508632020-12-272021-06-26xbrli:shares00000508632021-06-26iso4217:USD00000508632021-03-282021-06-2600000508632020-03-292020-06-2700000508632019-12-292020-06-270000050863us-gaap:RetainedEarningsMember2021-03-282021-06-260000050863us-gaap:RetainedEarningsMember2020-12-272021-06-26iso4217:USDxbrli:shares00000508632020-12-2600000508632019-12-2800000508632020-06-270000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2021-03-270000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-270000050863us-gaap:RetainedEarningsMember2021-03-2700000508632021-03-270000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-282021-06-260000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2021-03-282021-06-260000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2021-06-260000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-260000050863us-gaap:RetainedEarningsMember2021-06-260000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-03-280000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-280000050863us-gaap:RetainedEarningsMember2020-03-2800000508632020-03-280000050863us-gaap:RetainedEarningsMember2020-03-292020-06-270000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-292020-06-270000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-03-292020-06-270000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-06-270000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-270000050863us-gaap:RetainedEarningsMember2020-06-270000050863srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-12-260000050863srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-260000050863us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-260000050863srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-260000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-272021-06-260000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-12-272021-06-260000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2019-12-280000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-280000050863us-gaap:RetainedEarningsMember2019-12-280000050863us-gaap:RetainedEarningsMember2019-12-292020-06-270000050863us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-292020-06-270000050863us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2019-12-292020-06-270000050863intc:ClientComputingGroupMemberintc:PlatformMember2021-03-282021-06-260000050863intc:ClientComputingGroupMemberintc:PlatformMember2020-03-292020-06-270000050863intc:ClientComputingGroupMemberintc:PlatformMember2020-12-272021-06-260000050863intc:ClientComputingGroupMemberintc:PlatformMember2019-12-292020-06-270000050863intc:OtherProductOrServiceMemberintc:ClientComputingGroupMember2021-03-282021-06-260000050863intc:OtherProductOrServiceMemberintc:ClientComputingGroupMember2020-03-292020-06-270000050863intc:OtherProductOrServiceMemberintc:ClientComputingGroupMember2020-12-272021-06-260000050863intc:OtherProductOrServiceMemberintc:ClientComputingGroupMember2019-12-292020-06-270000050863intc:ClientComputingGroupMember2021-03-282021-06-260000050863intc:ClientComputingGroupMember2020-03-292020-06-270000050863intc:ClientComputingGroupMember2020-12-272021-06-260000050863intc:ClientComputingGroupMember2019-12-292020-06-270000050863intc:DCGPlatformMemberintc:DataCenterGroupMember2021-03-282021-06-260000050863intc:DCGPlatformMemberintc:DataCenterGroupMember2020-03-292020-06-270000050863intc:DCGPlatformMemberintc:DataCenterGroupMember2020-12-272021-06-260000050863intc:DCGPlatformMemberintc:DataCenterGroupMember2019-12-292020-06-270000050863intc:DataCenterGroupMemberintc:OtherProductOrServiceMember2021-03-282021-06-260000050863intc:DataCenterGroupMemberintc:OtherProductOrServiceMember2020-03-292020-06-270000050863intc:DataCenterGroupMemberintc:OtherProductOrServiceMember2020-12-272021-06-260000050863intc:DataCenterGroupMemberintc:OtherProductOrServiceMember2019-12-292020-06-270000050863intc:DataCenterGroupMember2021-03-282021-06-260000050863intc:DataCenterGroupMember2020-03-292020-06-270000050863intc:DataCenterGroupMember2020-12-272021-06-260000050863intc:DataCenterGroupMember2019-12-292020-06-270000050863intc:InternetOfThingsGroupMember2021-03-282021-06-260000050863intc:InternetOfThingsGroupMember2020-03-292020-06-270000050863intc:InternetOfThingsGroupMember2020-12-272021-06-260000050863intc:InternetOfThingsGroupMember2019-12-292020-06-270000050863intc:MobileyeMember2021-03-282021-06-260000050863intc:MobileyeMember2020-03-292020-06-270000050863intc:MobileyeMember2020-12-272021-06-260000050863intc:MobileyeMember2019-12-292020-06-270000050863intc:InternetofThingsMember2021-03-282021-06-260000050863intc:InternetofThingsMember2020-03-292020-06-270000050863intc:InternetofThingsMember2020-12-272021-06-260000050863intc:InternetofThingsMember2019-12-292020-06-270000050863intc:NonVolatileMemorySolutionsGroupMember2021-03-282021-06-260000050863intc:NonVolatileMemorySolutionsGroupMember2020-03-292020-06-270000050863intc:NonVolatileMemorySolutionsGroupMember2020-12-272021-06-260000050863intc:NonVolatileMemorySolutionsGroupMember2019-12-292020-06-270000050863intc:ProgrammableSolutionsGroupMember2021-03-282021-06-260000050863intc:ProgrammableSolutionsGroupMember2020-03-292020-06-270000050863intc:ProgrammableSolutionsGroupMember2020-12-272021-06-260000050863intc:ProgrammableSolutionsGroupMember2019-12-292020-06-270000050863us-gaap:AllOtherSegmentsMember2021-03-282021-06-260000050863us-gaap:AllOtherSegmentsMember2020-03-292020-06-270000050863us-gaap:AllOtherSegmentsMember2020-12-272021-06-260000050863us-gaap:AllOtherSegmentsMember2019-12-292020-06-270000050863intc:DesktopPlatformMember2021-03-282021-06-260000050863intc:DesktopPlatformMember2020-03-292020-06-270000050863intc:DesktopPlatformMember2020-12-272021-06-260000050863intc:DesktopPlatformMember2019-12-292020-06-270000050863intc:NotebookPlatformMember2021-03-282021-06-260000050863intc:NotebookPlatformMember2020-03-292020-06-270000050863intc:NotebookPlatformMember2020-12-272021-06-260000050863intc:NotebookPlatformMember2019-12-292020-06-270000050863intc:OtherPlatformMember2021-03-282021-06-260000050863intc:OtherPlatformMember2020-03-292020-06-270000050863intc:OtherPlatformMember2020-12-272021-06-260000050863intc:OtherPlatformMember2019-12-292020-06-270000050863intc:IOTGPlatformMember2021-03-282021-06-260000050863intc:IOTGPlatformMember2020-03-292020-06-270000050863intc:IOTGPlatformMember2020-12-272021-06-260000050863intc:IOTGPlatformMember2019-12-292020-06-270000050863intc:PlatformMember2021-03-282021-06-260000050863intc:PlatformMember2020-03-292020-06-270000050863intc:PlatformMember2020-12-272021-06-260000050863intc:PlatformMember2019-12-292020-06-270000050863intc:OtherProductOrServiceMember2021-03-282021-06-260000050863intc:OtherProductOrServiceMember2020-03-292020-06-270000050863intc:OtherProductOrServiceMember2020-12-272021-06-260000050863intc:OtherProductOrServiceMember2019-12-292020-06-270000050863intc:PrepaidSupplyAgreementsMember2020-12-260000050863intc:PrepaidSupplyAgreementsMember2020-12-272021-06-260000050863intc:PrepaidSupplyAgreementsMember2021-06-2600000508632020-12-272021-03-270000050863us-gaap:DebtSecuritiesMember2021-03-282021-06-260000050863us-gaap:DebtSecuritiesMember2020-12-272021-06-260000050863us-gaap:DebtSecuritiesMember2020-03-292020-06-270000050863us-gaap:DebtSecuritiesMember2019-12-292020-06-270000050863intc:BejingUnisocTechnologyLtdMember2020-12-272021-03-270000050863intc:BejingUnisocTechnologyLtdMember2021-06-260000050863intc:BejingUnisocTechnologyLtdMember2020-12-260000050863intc:MoovitMember2020-05-042020-05-040000050863intc:MoovitMember2020-05-0400000508632020-10-192020-10-190000050863srt:ScenarioForecastMember2021-11-012021-11-010000050863srt:ScenarioForecastMember2025-03-012025-03-310000050863srt:ScenarioForecastMember2021-03-282021-10-310000050863us-gaap:SeniorNotesMemberintc:SeniorNotesDueMay2021Member2021-03-282021-06-260000050863us-gaap:RevolvingCreditFacilityMemberintc:VariableRateRevolvingCreditFacilityMember2021-06-260000050863us-gaap:CommercialPaperMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CashEquivalentsMemberus-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:CashEquivalentsMemberus-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CashEquivalentsMemberus-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:CashEquivalentsMemberus-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CashEquivalentsMemberus-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:CashEquivalentsMemberus-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CashEquivalentsMemberus-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:CashEquivalentsMemberus-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:CashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:EquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:CorporateDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:FixedIncomeSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863intc:GovernmentDebtSecuritiesMemberus-gaap:OtherLongTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-06-260000050863us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2021-06-260000050863us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-06-260000050863us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-12-260000050863us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-260000050863us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-260000050863us-gaap:FairValueMeasurementsNonrecurringMember2021-06-260000050863us-gaap:FairValueMeasurementsNonrecurringMember2020-12-260000050863us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2020-12-260000050863us-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2020-12-260000050863us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetGainLossIncludingPortionAttributableToNoncontrollingInterestMember2020-12-260000050863us-gaap:AccumulatedTranslationAdjustmentMember2020-12-260000050863us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2020-12-272021-06-260000050863us-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2020-12-272021-06-260000050863us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetGainLossIncludingPortionAttributableToNoncontrollingInterestMember2020-12-272021-06-260000050863us-gaap:AccumulatedTranslationAdjustmentMember2020-12-272021-06-260000050863us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2021-06-260000050863us-gaap:AccumulatedNetGainLossFromCashFlowHedgesIncludingPortionAttributableToNoncontrollingInterestMember2021-06-260000050863us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetGainLossIncludingPortionAttributableToNoncontrollingInterestMember2021-06-260000050863us-gaap:AccumulatedTranslationAdjustmentMember2021-06-260000050863us-gaap:ForeignExchangeContractMember2021-06-260000050863us-gaap:ForeignExchangeContractMember2020-12-260000050863us-gaap:InterestRateContractMember2021-06-260000050863us-gaap:InterestRateContractMember2020-12-260000050863us-gaap:OtherContractMember2021-06-260000050863us-gaap:OtherContractMember2020-12-260000050863us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2021-06-260000050863us-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2021-06-260000050863us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2020-12-260000050863us-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2020-12-260000050863us-gaap:InterestRateContractMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-260000050863us-gaap:InterestRateContractMemberus-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-260000050863us-gaap:InterestRateContractMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-260000050863us-gaap:InterestRateContractMemberus-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-260000050863us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-260000050863us-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-260000050863us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-260000050863us-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-260000050863us-gaap:NondesignatedMemberus-gaap:OtherAssetsMemberus-gaap:ForeignExchangeContractMember2021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberus-gaap:ForeignExchangeContractMember2021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherAssetsMemberus-gaap:ForeignExchangeContractMember2020-12-260000050863us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMemberus-gaap:ForeignExchangeContractMember2020-12-260000050863us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2021-06-260000050863us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2021-06-260000050863us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2020-12-260000050863us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2020-12-260000050863us-gaap:NondesignatedMemberus-gaap:OtherContractMemberus-gaap:OtherAssetsMember2021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherContractMemberus-gaap:OtherLiabilitiesMember2021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherContractMemberus-gaap:OtherAssetsMember2020-12-260000050863us-gaap:NondesignatedMemberus-gaap:OtherContractMemberus-gaap:OtherLiabilitiesMember2020-12-260000050863us-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherAssetsMember2020-12-260000050863us-gaap:NondesignatedMemberus-gaap:OtherLiabilitiesMember2020-12-260000050863us-gaap:OtherAssetsMember2021-06-260000050863us-gaap:OtherLiabilitiesMember2021-06-260000050863us-gaap:OtherAssetsMember2020-12-260000050863us-gaap:OtherLiabilitiesMember2020-12-260000050863us-gaap:ForeignExchangeContractMember2021-03-282021-06-260000050863us-gaap:ForeignExchangeContractMember2020-12-272021-06-260000050863us-gaap:ForeignExchangeContractMember2020-03-292020-06-270000050863us-gaap:ForeignExchangeContractMember2019-12-292020-06-270000050863us-gaap:FairValueHedgingMemberus-gaap:OtherNonoperatingIncomeExpenseMember2020-12-272021-06-260000050863us-gaap:InterestRateContractMember2021-03-282021-06-260000050863us-gaap:InterestRateContractMember2020-03-292020-06-270000050863us-gaap:InterestRateContractMember2020-12-272021-06-260000050863us-gaap:InterestRateContractMember2019-12-292020-06-270000050863us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMemberus-gaap:InterestRateSwapMember2021-06-260000050863us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMemberus-gaap:InterestRateSwapMember2020-12-260000050863us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMemberus-gaap:InterestRateSwapMember2020-12-272021-06-260000050863us-gaap:FairValueHedgingMemberus-gaap:LongTermDebtMemberus-gaap:InterestRateSwapMember2019-12-292020-12-260000050863us-gaap:NondesignatedMember2020-12-272021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeContractMember2021-03-282021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeContractMember2020-03-292020-06-270000050863us-gaap:NondesignatedMemberus-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeContractMember2020-12-272021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherNonoperatingIncomeExpenseMemberus-gaap:ForeignExchangeContractMember2019-12-292020-06-270000050863us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherNonoperatingIncomeExpenseMember2021-03-282021-06-260000050863us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherNonoperatingIncomeExpenseMember2020-03-292020-06-270000050863us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherNonoperatingIncomeExpenseMember2020-12-272021-06-260000050863us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:OtherNonoperatingIncomeExpenseMember2019-12-292020-06-270000050863us-gaap:NondesignatedMemberus-gaap:OtherContractMemberintc:VariousMember2021-03-282021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherContractMemberintc:VariousMember2020-03-292020-06-270000050863us-gaap:NondesignatedMemberus-gaap:OtherContractMemberintc:VariousMember2020-12-272021-06-260000050863us-gaap:NondesignatedMemberus-gaap:OtherContractMemberintc:VariousMember2019-12-292020-06-270000050863us-gaap:NondesignatedMember2021-03-282021-06-260000050863us-gaap:NondesignatedMember2020-03-292020-06-270000050863us-gaap:NondesignatedMember2019-12-292020-06-27iso4217:EUR0000050863intc:EcFineMember2009-05-012009-05-31

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period endedJune 26, 2021
Or
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                  to                 
Commission File Number 000-06217
intc-20210626_g1.jpg
INTEL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware94-1672743
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
2200 Mission College Boulevard, Santa Clara, California95054-1549
(Address of principal executive offices)(Zip Code)
(408) 765-8080
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, $0.001 par valueINTCNasdaq Global Select Market
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes      No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes      No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large Accelerated FilerAccelerated filer  Non-accelerated filer  Smaller reporting company Emerging growth company  

¨¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No 
As of June 26, 2021, the registrant had outstanding 4,057 million shares of common stock.



Table of Contents
The Organization of Our Quarterly Report on Form 10-Q
The order and presentation of content in our Form 10-Q differs from the traditional SEC Form 10-Q format. Our format is designed to improve readability and better present how we organize and manage our business. See "Form 10-Q Cross-Reference Index" within Other Key Information for a cross-reference index to the traditional SEC Form 10-Q format.
We have defined certain terms and abbreviations used throughout our Form 10-Q in "Key Terms" within the Consolidated Condensed Financial Statements and Supplemental Details.
The preparation of our Consolidated Condensed Financial Statements is in conformity with U.S. GAAP. Our Form 10-Q includes key metrics that we use to measure our business, some of which are non-GAAP measures. See "Non-GAAP Financial Measures" within MD&A for an explanation of these measures and why management uses them and believes they provide investors with useful supplemental information.
Page
Forward-Looking Statements
A Quarter in Review
Consolidated Condensed Financial Statements and Supplemental Details
Consolidated Condensed Statements of Income
Consolidated Condensed Statements of Comprehensive Income
Consolidated Condensed Balance Sheets
Consolidated Condensed Statements of Cash Flows
Consolidated Condensed Statements of Stockholders' Equity
Notes to Consolidated Condensed Financial Statements
Key Terms
Management's Discussion and Analysis
Segment Trends and Results
Consolidated Results of Operations
Liquidity and Capital Resources
Non-GAAP Financial Measures
Other Key Information
Quantitative and Qualitative Disclosures about Market Risk
Risk Factors
Controls and Procedures
Issuer Purchases of Equity Securities
Disclosure Pursuant to Section 13(r)(of the Securities Exchange Act of 1934
Exhibits
Form 10-Q Cross-Reference Index










Table of Contents

Forward-Looking Statements
This Form 10-Q contains forward-looking statements that involve a number of risks and uncertainties. Words such as "anticipate," "expect," "intend," "plan," "opportunity," "future," "pending," "to be," "believes," "estimated," "continue," "likely," "may," "might," "potentially," "will," "would," "should," "could," “accelerate,” "progress," “goal,” and variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, any statements that refer to Intel’s strategy; manufacturing expansion and investment plans, including Intel’s anticipated New Mexico investment; future responses to and effects of COVID-19; projections of our future financial performance and demand; our anticipated growth and trends in our businesses or operations; projected growth and trends in markets relevant to our businesses; business plans; future products and technology and the expected availability and benefits of such products and technology; expected timing and impact of acquisitions, divestitures, and other significant transactions, including statements relating to the pending divestiture of our NAND memory business to SK hynix Inc. (SK hynix), NAND manufacturing and supply arrangements between Intel and SK hynix, and expected additions to held for sale NAND property, plant and equipment; expected completion of restructuring activities; availability, uses, sufficiency, and cost of capital, capital resources, and funding sources, including expected returns to stockholders such as dividends; accounting estimates and judgments regarding reported matters, events and contingencies and our intentions with respect to such matters, events and contingencies, and the actual results thereof; future production capacity and product supply; the future impact of industry component and substrate constraints; the future purchase, use, and availability of, and payment for, products, components and services supplied by third parties; tax-related expectations; plans and future impacts related to export licensing and trade policies; uncertain events or assumptions; and other characterizations of future events or circumstances are forward-looking statements. Such statements are based on management's expectations as of the date of this filing, unless an earlier date is specified, and involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include those described throughout this report, our 2020 Form 10-K, and our Form 10-Q for the quarter ended March 27, 2021, particularly the "Risk Factors" sections of such reports. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this Form 10-Q and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business. Unless specifically indicated otherwise, the forward-looking statements in this Form 10-Q do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this filing. In addition, the forward-looking statements in this Form 10-Q are made as of the date of this filing, unless an earlier date is specified, including expectations based on third-party information and projections that management believes to be reputable, and Intel does not undertake, and expressly disclaims any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.















Intel, the Intel logo, Intel Core, Intel Evo, Intel Optane, and Xeon are trademarks of Intel Corporation or its subsidiaries in the U.S. and/or other countries.
* Other names and brands may be claimed as the property of others.
intc-20210626_g2.jpg
1

Table of Contents

A Quarter in Review
Total revenue of $19.6 billion was down $97 million year over year as DCG declined 9% and CCG grew 6%. DCG revenue declined on lower ASPs and on lower platform volume compared to a strong, COVID-driven Q2 2020. DCG revenue was also impacted by lower adjacent revenue. CCG revenue was up, due to continued strength in notebook demand and recovery in desktop demand. NSG was down due to lower ASPs and lower volume. IOTG and Mobileye were both up on higher demand amid recovery from the economic impacts of COVID-19.
RevenueOperating IncomeDiluted EPSCash Flows
GAAP $B Non-GAAP $B
GAAP $B Non-GAAP $B
GAAP Non-GAAP
Operating Cash Flow $B
Free Cash Flow $B
intc-20210626_g3.jpg intc-20210626_g4.jpg intc-20210626_g5.jpgintc-20210626_g6.jpg
$19.6B$18.5B$5.5B$5.9B$1.24$1.28$14.3B$6.7B
GAAP
non-GAAP1
GAAP
non-GAAP1
GAAP
non-GAAP1
GAAP
non-GAAP1
Revenue down $97M or 0.5% from Q2 2020Revenue up $349M or 2% from Q2 2020Operating income down $151M or 3% from Q2 2020; Q2 2021 operating margin at 28%Operating income up $221M or 4% from Q2 2020; Q2 2021 operating margin at 32%Diluted EPS up $0.05 or 4% from Q2 2020Diluted EPS up $0.14 or 12% from Q2 2020Operating cash flow down $3.0B or 17% from Q2 2020Free cash flow down $3.9B or 37% from Q2 2020
Declines in DCG and NSG, partially offset by growth in CCG, IOTG, and Mobileye. Non-GAAP revenue excludes NSG.
Higher operating expenses from additional investments, higher corporate restructuring costs, and lower gross margin from lower platform2 revenue, partially offset by lower period charges driven by absence of reserves on non-qualified platform products taken in Q2 2020, and lower platform unit cost from 10nm cost improvements. Non-GAAP operating income excludes NSG, amortization of acquisition-related intangibles, and restructuring.
Lower effective tax rate and lower shares, partially offset by lower operating income. Non-GAAP results incrementally exclude ongoing mark-to-market adjustments, and tax impacts of non-GAAP adjustments.Lower net income, net of non-cash adjustments including the Corporate VLSI charge, cash paid to settle a prepaid supply agreement in Q1 2021, and income taxes. Free cash flow decreased due to lower operating cash flow and higher capital spending.
Key Developments
We announced a $3.5 billion investment to equip our Rio Rancho, New Mexico site for advanced packaging manufacturing, including our Foveros 3D packaging technology. Foveros technology enables us to build processors with compute tiles stacked vertically, rather than side-by-side, which can provide greater performance in a smaller footprint.
We launched the 3rd Gen Intel® Xeon® Scalable CPU (Ice Lake), which boasts up to 40 cores and delivers a significant increase in performance on average compared to the previous generation. The chips include a set of built-in security features, crypto acceleration, and artificial intelligence.
We launched the 11th Gen Intel® CoreTM H-series mobile processors (Tiger Lake-H), which deliver high end performance in laptops for gamers, content creators, and business professionals. We also saw broad availability of the first Intel® Evo™ platforms for the commercial segment, based on 11th Gen Intel Core mobile processors.

1 See "Non-GAAP Financial Measures" within MD&A.
2 See "Key Terms" within Consolidated Condensed Financial Statements and Supplemental Details.

intc-20210626_g2.jpg
A Quarter in Review
2

Table of Contents

Consolidated Condensed Statements of Income
 Three Months EndedSix Months Ended
(In Millions, Except Per Share Amounts; Unaudited)
Jun 26, 2021Jun 27, 2020Jun 26, 2021Jun 27, 2020
Net revenue$19,631 $19,728 $39,304 $39,556 
Cost of sales8,425 9,221 17,244 17,033 
Gross margin11,206 10,507 22,060 22,523 
Research and development3,715 3,354 7,338 6,629 
Marketing, general and administrative1,599 1,447 2,927 2,988 
Restructuring and other charges346 9 2,555 171 
Operating expenses5,660 4,810 12,820 9,788 
Operating income5,546 5,697 9,240 12,735 
Gains (losses) on equity investments, net295 267 663 156 
Interest and other, net(96)(29)(252)(342)
Income before taxes5,745 5,935 9,651 12,549 
Provision for taxes684 830 1,229 1,783 
Net income$5,061 $5,105 $8,422 $10,766 
Earnings per share—basic$1.25 $1.20 $2.08 $2.53 
Earnings per share—diluted$1.24 $1.19 $2.06 $2.50 
Weighted average shares of common stock outstanding:
Basic4,049 4,246 4,053 4,256 
Diluted4,084 4,284 4,090 4,298 
See accompanying notes.
intc-20210626_g2.jpg
Financial Statements  Consolidated Condensed Statements of Income
3

Table of Contents

Consolidated Condensed Statements of Comprehensive Income
Three Months Ended
Six Months Ended
(In Millions; Unaudited)
Jun 26, 2021Jun 27, 2020Jun 26, 2021Jun 27, 2020
Net income$5,061 $5,105 $8,422 $10,766 
Changes in other comprehensive income, net of tax:
Net unrealized holding gains (losses) on derivatives6 319 (344)51 
Actuarial valuation and other pension benefits (expenses), net12 11 25 23 
Translation adjustments and other(10)59 (25)54 
Other comprehensive income (loss)8 389 (344)128 
Total comprehensive income$5,069 $5,494 $8,078 $10,894 
See accompanying notes.
intc-20210626_g2.jpg
Financial Statements  Consolidated Condensed Statements of Comprehensive Income
4

Table of Contents

Consolidated Condensed Balance Sheets
(In Millions)
Jun 26, 2021Dec 26, 2020
(unaudited)
Assets
Current assets:
Cash and cash equivalents$4,746 $5,865 
Short-term investments3,014 2,292 
Trading assets17,097 15,738 
Accounts receivable7,460 6,782 
Inventories8,817 8,427 
Assets held for sale5,817 5,400 
Other current assets2,421 2,745 
Total current assets49,372 47,249 
Property, plant and equipment, net of accumulated depreciation of $81,558 ($77,645 as of December 26, 2020)58,166 56,584 
Equity investments5,655 5,152 
Other long-term investments1,262 2,192 
Goodwill26,768 26,971 
Identified intangible assets, net8,018 9,026 
Other long-term assets5,356 5,917 
Total assets$154,597 $153,091 
Liabilities and stockholders’ equity
Current liabilities:
Short-term debt$3,695 $2,504 
Accounts payable5,917 5,581 
Accrued compensation and benefits3,176 3,999 
Other accrued liabilities12,048 12,670 
Total current liabilities24,836 24,754 
Debt31,714 33,897 
Contract liabilities 68 1,367 
Income taxes payable4,172 4,578 
Deferred income taxes3,271 3,843 
Other long-term liabilities5,329 3,614 
Contingencies (Note 13)
Stockholders’ equity:
Common stock and capital in excess of par value, 4,057 issued and outstanding (4,062 issued and outstanding as of December 26, 2020)26,655 25,556 
Accumulated other comprehensive income (loss)(1,095)(751)
Retained earnings59,647 56,233 
Total stockholders’ equity85,207 81,038 
Total liabilities and stockholders’ equity$154,597 $153,091 
See accompanying notes.
intc-20210626_g2.jpg
Financial Statements  Consolidated Condensed Balance Sheets
5

Table of Contents

Consolidated Condensed Statements of Cash Flows
 
Six Months Ended
(In Millions; Unaudited)
Jun 26, 2021Jun 27, 2020
Cash and cash equivalents, beginning of period$5,865 $4,194 
Cash flows provided by (used for) operating activities:
Net income8,422 10,766 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation4,862 5,248 
Share-based compensation1,044 941 
Restructuring and other charges2,555 171 
Amortization of intangibles897 865 
(Gains) losses on equity investments, net(555)(92)
Changes in assets and liabilities:
Accounts receivable(678)224 
Inventories(126)(271)
Accounts payable425 208 
Accrued compensation and benefits(836)(1,025)
Prepaid supply agreements(1,571)(161)
Income taxes114 1,203 
Other assets and liabilities(259)(762)
Total adjustments5,872 6,549 
Net cash provided by operating activities14,294 17,315 
Cash flows provided by (used for) investing activities:
Additions to property, plant and equipment(7,574)(6,676)
Additions to held for sale NAND property, plant and equipment(682) 
Purchases of available-for-sale debt investments(2,000)(4,558)
Maturities and sales of available-for-sale debt investments2,126 1,303 
Purchases of trading assets(14,637)(11,429)
Maturities and sales of trading assets12,936 7,430 
Other investing380 (416)
Net cash used for investing activities(9,451)(14,346)
Cash flows provided by (used for) financing activities:
Issuance of long-term debt, net of issuance costs 10,247 
Repayment of debt and debt conversion(500)(2,775)
Proceeds from sales of common stock through employee equity incentive plans589 512 
Repurchase of common stock(2,415)(4,229)
Payment of dividends to stockholders(2,821)(2,811)
Other financing(815)629 
Net cash provided by (used for) financing activities(5,962)1,573 
Net increase (decrease) in cash and cash equivalents(1,119)4,542 
Cash and cash equivalents, end of period$4,746 $8,736 
Supplemental disclosures of noncash investing activities and cash flow information:
Acquisition of property, plant, and equipment included in accounts payable and accrued liabilities$2,426 $2,836 
Cash paid during the period for:
Interest, net of capitalized interest$283 $252 
Income taxes, net of refunds$1,110 $574 
See accompanying notes.
intc-20210626_g2.jpg
Financial Statements  Consolidated Condensed Statements of Cash Flows
6

Table of Contents

Consolidated Condensed Statements of Stockholders' Equity
Common Stock and Capital in Excess of Par Value
Accumulated Other Comprehensive Income (Loss)
Retained Earnings1
Total
(In Millions, Except Per Share Amounts; Unaudited)SharesAmount
Three Months Ended
Balance as of March 27, 20214,038 $26,272 $(1,103)$54,638 $79,807 
Net income— — — 5,061 5,061 
Other comprehensive income (loss)— — 8 — 8 
Employee equity incentive plans and other24 23 — — 23 
Share-based compensation— 619 — — 619 
Restricted stock unit withholdings(5)(259)— (52)(311)
Balance as of June 26, 20214,057 $26,655 $(1,095)$59,647 $85,207 
Balance as of March 28, 20204,234 $25,251 $(1,541)$52,644 $76,354 
Net income— — — 5,105 5,105 
Other comprehensive income (loss)— — 389 — 389 
Employee equity incentive plans and other25 9 — — 9 
Share-based compensation— 492 — — 492 
Restricted stock unit withholdings(6)(236)— (103)(339)
Balance as of June 27, 20204,253 $25,516 $(1,152)$57,646 $82,010 
Six Months Ended
Balance as of December 26, 20204,062 $25,556 $(751)$56,268 $81,073 
Net income— — — 8,422 8,422 
Other comprehensive income (loss)— — (344)— (344)
Employee equity incentive plans and other41 588 — — 588 
Share-based compensation— 1,044 — — 1,044 
Temporary equity reduction—  — —  
Convertible debt—  — —  
Repurchase of common stock(40)(249)— (2,166)(2,415)
Restricted stock unit withholdings(6)(284)— (56)(340)
Cash dividends declared ($0.695 per share)— — — (2,821)(2,821)
Balance as of June 26, 20214,057 $26,655 $(1,095)$59,647 $85,207 
Balance as of December 28, 20194,290 $25,261 $(1,280)$53,523 $77,504 
Net income— — — 10,766 10,766 
Other comprehensive income (loss)— — 128 — 128 
Employee equity incentive plans and other42 629 — — 629 
Share-based compensation— 941 — — 941 
Temporary equity reduction— 155 — — 155 
Convertible debt— (750)— — (750)
Repurchase of common stock(71)(420)— (3,689)(4,109)
Restricted stock unit withholdings(8)(300)— (135)(435)
Cash dividends declared ($0.66 per share)— — — (2,819)(2,819)
Balance as of June 27, 20204,253 $25,516 $(1,152)$57,646 $82,010 
1The retained earnings balance as of December 26, 2020 includes an opening balance adjustment made as a result of the adoption of a new accounting standard in 2021.
See accompanying notes.
intc-20210626_g2.jpg
Financial Statements  Consolidated Condensed Statements of Stockholders' Equity
7

Table of Contents

Notes to Consolidated Condensed Financial Statements
Note 1 : Basis of Presentation
We prepared our interim Consolidated Condensed Financial Statements that accompany these notes in conformity with U.S. GAAP, consistent in all material respects with those applied in our 2020 Form 10-K.
We have made estimates and judgments affecting the amounts reported in our Consolidated Condensed Financial Statements and the accompanying notes. The actual results that we experience may differ materially from our estimates. The interim financial information is unaudited, and reflects all normal adjustments that are, in our opinion, necessary to provide a fair statement of results for the interim periods presented. This report should be read in conjunction with the Consolidated Financial Statements in our 2020 Form 10-K where we include additional information about our policies and the methods and assumptions used in our estimates.
Note 2 : Operating Segments
We manage our business through the following operating segments:
CCG
DCG
IOTG
Mobileye
NSG
PSG
We derive a substantial majority of our revenue from platform products, which are our principal products and considered as one product class. We offer platform products that incorporate various components and technologies, including a microprocessor and chipset, a stand-alone SoC, or a multichip package. Platform products are used in various form factors across our CCG, DCG, and IOTG operating segments. Our non-platform, or adjacent products, can be combined with platform products to form comprehensive platform solutions to meet customer needs.
CCG and DCG are our reportable operating segments. IOTG, Mobileye, NSG, and PSG do not meet the quantitative thresholds to qualify as reportable operating segments; however, we have elected to disclose the results of these non-reportable operating segments. Our Internet of Things portfolio, presented as Internet of Things, is comprised of IOTG and Mobileye operating segments. In 2021, our DCG operating segment includes the results of our Intel® OptaneTM memory business, and our NSG operating segment is composed of our NAND memory business. Refer to "Note 8: Acquisitions and Divestitures" within Notes to Consolidated Condensed Financial Statements for further information on the pending divestiture of our NAND memory business.
We have an “all other” category that includes revenue, expenses, and charges such as:
results of operations from non-reportable segments not otherwise presented;
historical results of operations from divested businesses;
results of operations of start-up businesses that support our initiatives, including our foundry business;
amounts included within restructuring and other charges;
a portion of employee benefits, compensation, and other expenses not allocated to the operating segments; and
acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill.
The CODM, who is our CEO, does not evaluate operating segments using discrete asset information. Operating segments do not record inter-segment revenue. We do not allocate gains and losses from equity investments, interest and other income, or taxes to operating segments. Although the CODM uses operating income to evaluate the segments, operating costs included in one segment may benefit other segments. The accounting policies for segment reporting are the same as for Intel as a whole.








intc-20210626_g2.jpg
Financial Statements Notes to Financial Statements
8

Table of Contents

Net revenue and operating income (loss) for each period were as follows:
Three Months EndedSix Months Ended
(In Millions)
Jun 26, 2021Jun 27, 2020Jun 26, 2021Jun 27, 2020
Net revenue:
Client Computing Group
Platform$9,397 $8,229 $19,014 $16,941 
Adjacent712 1,267 1,700 2,330 
10,109 9,496 20,714 19,271 
Data Center Group
Platform5,703 6,181 10,514 12,608 
Adjacent752 936 1,505 1,502 
6,455 7,117 12,019 14,110 
Internet of Things
IOTG984 670 1,898 1,553 
Mobileye327 146 704 400 
1,311 816 2,602 1,953 
Non-Volatile Memory Solutions Group1,098 1,659 2,205 2,997 
Programmable Solutions Group486 501 972 1,020 
All other172 139 792 205 
Total net revenue$19,631 $19,728 $39,304 $39,556 
Operating income (loss):
Client Computing Group$3,760 $2,842 $7,880 $7,067 
Data Center Group1,941 3,099 3,214 6,591 
Internet of Things
IOTG287 70 499 313 
Mobileye109 (4)256 84 
396 66 755 397 
Non-Volatile Memory Solutions Group402 322 573 256 
Programmable Solutions Group82 80 170 177 
All other(1,035)(712)(3,352)(1,753)
Total operating income$5,546 $5,697 $9,240 $12,735 
Disaggregated net revenue for each period was as follows:
Three Months EndedSix Months Ended
(In Millions)
Jun 26, 2021Jun 27, 2020Jun 26, 2021Jun 27, 2020
Platform revenue
CCG desktop platform$2,635 $2,368 $5,279 $5,208 
CCG notebook platform6,743 5,844 13,702 11,701 
CCG other platform1
19 16 33 31 
DCG platform5,703 6,181 10,514 12,608 
IOTG platform891 619 1,731 1,414 
15,991 15,028 31,259 30,962 
Adjacent revenue2
3,640 4,700 8,045 8,594 
Total revenue$19,631 $19,728 $39,304 $39,556 
1    Includes our tablet and service provider revenue.
2    Includes all of our non-platform products for CCG, DCG, and IOTG such as modem, Ethernet, and silicon photonics, as well as Mobileye, NSG, and PSG products, as well as revenue included in our "all other" category.







intc-20210626_g2.jpg
Financial Statements Notes to Financial Statements
9

Table of Contents

Note 3 : Earnings Per Share
We computed basic earnings per share of common stock based on the weighted average number of shares of common stock outstanding during the period. We computed diluted earnings per share of common stock based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the period.
 Three Months EndedSix Months Ended
(In Millions, Except Per Share Amounts)Jun 26, 2021Jun 27, 2020Jun 26, 2021Jun 27, 2020
Net income available to common stockholders$5,061 $5,105 $8,422 $10,766 
Weighted average shares of common stock outstanding—basic4,049 4,246 4,053 4,256 
Dilutive effect of employee equity incentive plans35 38 37 42 
Weighted average shares of common stock outstanding—diluted4,084 4,284 4,090 4,298 
Earnings per share—basic
$1.25 $1.20 $2.08 $2.53 
Earnings per share—diluted
$1.24 $1.19 $2.06 $2.50 
Potentially dilutive shares of common stock from employee equity incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options, the assumed vesting of outstanding RSUs, and the assumed issuance of common stock under the stock purchase plan.
Securities which would have been anti-dilutive are insignificant and are excluded from the computation of diluted earnings per share in all periods presented.
Note 4 : Contract Liabilities
Contract liabilities consist of prepayments received from customers on long-term prepaid supply agreements toward future product delivery and other revenue deferrals from regular ongoing business activity. Contract liabilities were $349 million as of June 26, 2021 ($1.9 billion as of December 26, 2020).
The following table shows the changes in contract liability balances relating to long-term prepaid supply agreements during the first six months of 2021:
(In Millions)
Prepaid supply agreements balance as of December 26, 2020$1,625 
Concession payment(950)
Prepaids utilized(621)
Prepaid supply agreements balance as of June 26, 2021$54 
During the first quarter of 2021, we settled an agreement with our largest prepaid customer whose prepayment balance made up $1.6 billion of our contract liability balance as of December 26, 2020. We returned $950 million to the customer and recognized $584 million in revenue for having completed performance of the prepaid supply agreement. The prepaid supply agreement is excluded from the NAND memory business and is recorded as Corporate revenue in the first six months of 2021 in the "all other" category presented in "Note 2: Operating Segments" within Notes to Consolidated Condensed Financial Statements.
Note 5 : Other Financial Statement Details
Inventories
(In Millions)
Jun 26, 2021Dec 26, 2020
Raw materials
$1,010 $908 
Work in process
5,968 5,693 
Finished goods
1,839 1,826 
Total inventories$8,817 $8,427 







intc-20210626_g2.jpg
Financial Statements Notes to Financial Statements
10

Table of Contents

Interest and Other, Net
 Three Months EndedSix Months Ended
(In Millions)
Jun 26, 2021Jun 27, 2020Jun 26, 2021Jun 27, 2020
Interest income
$37 $83 $74 $176 
Interest expense
(129)(186)(319)(321)
Other, net
(4)74 (7)(197)
Total interest and other, net$(96)$(29)$(252)$(342)
Interest expense in the preceding table is net of $96 million of interest capitalized in the second quarter of 2021 and $193 million in the first six months of 2021 ($87 million in the second quarter of 2020 and $170 million in the first six months of 2020).
Note 6 : Restructuring and Other Charges
A restructuring program, which is ongoing, was approved in the first quarter of 2020 to further align our workforce with our continuing investments in the business and to execute the planned divestiture of Home Gateway Platform, a division of CCG. These actions are expected to be substantially completed in 2021.
Three Months EndedSix Months Ended
(In Millions)Jun 26, 2021Jun 27, 2020Jun 26, 2021Jun 27, 2020
Employee severance and benefit arrangements$15 $1 $22 $106 
Litigation charges and other49  2,251 57 
Asset impairment charges282 8 282 8 
Total restructuring and other charges$346 $9 $2,555 $171 
Litigation charges and other includes a charge of $2.2 billion in the first quarter of 2021 related to the VLSI litigation, which is recorded as a Corporate charge in the "all other" category presented in "Note 2: Operating Segments" within Notes to Consolidated Condensed Financial Statements. Refer to "Note 13: Contingencies" within Notes to Consolidated Condensed Financial Statements for further information on legal proceedings related to the VLSI litigation.
Asset impairment charges includes impairments related to the shutdown in the second quarter of 2021 of two of our non-strategic businesses, the results of which are included in the “all other” category presented in “Note 2: Operating Segments” within Notes to Consolidated Condensed Financial Statements. The goodwill related to these businesses was impaired, resulting in a charge of $237 million recognized in the “all other” category along with other impairment charges related to these businesses.
Note 7 : Investments
Debt Investments
Trading Assets
For trading assets still held at the reporting date we recorded net gains of $2 million in the second quarter of 2021 and net losses of $226 million in the first six months of 2021 ($347 million of net gains in the second quarter of 2020 and $183 million of net gains in the first six months of 2020). Net gains on the related derivatives were $23 million in the second quarter of 2021 and net gains of $245 million in the first six months of 2021 ($251 million of net losses in the second quarter of 2020 and $204 million of net losses in the first six months of 2020).
Available-for-Sale Debt Investments
Available-for-sale investments include corporate debt, government debt, and financial institution instruments. Government debt includes instruments such as non-U.S. government bonds and U.S. agency securities. Financial institution instruments include instruments issued or managed by financial institutions in various forms, such as commercial paper, fixed- and floating-rate bonds, money market fund deposits, and time deposits. As of June 26, 2021 and December 26, 2020, substantially all time deposits were issued by institutions outside the U.S. The adjusted cost of our available-for-sale investments was $6.8 billion as of June 26, 2021 and $7.8 billion as of December 26, 2020. The adjusted cost of our available-for-sale investments approximated the fair value for these periods.







intc-20210626_g2.jpg
Financial Statements Notes to Financial Statements
11

Table of Contents

The fair value of available-for-sale debt investments, by contractual maturity, as of June 26, 2021, was as follows:
(In Millions)
Fair Value
Due in 1 year or less
$4,826 
Due in 1–2 years