Annual report pursuant to Section 13 and 15(d)

Other Financial Statement Details

v3.22.4
Other Financial Statement Details
 12 Months Ended
Dec. 31, 2022
Other Financial Statement Details [Abstract]  
Other Financial Statement Details [Text Block]
Note 6 : Other Financial Statement Details
Accounts Receivable
In 2022, we began selling certain of our accounts receivable on a non-recourse basis to third-party financial institutions. We record these transactions as sales of receivables and present cash proceeds as cash provided by operating activities in the Consolidated Statements of Cash Flows. Accounts receivable sold under non-recourse factoring arrangements were $665 million during 2022 and $0 during 2021. After the sale of our accounts receivable, we will collect payment from the customer and remit it to the third-party financial institution.
Inventories
(In Millions)
 Dec 31, 2022 Dec 25, 2021
Raw materials $ 1,517  $ 1,441 
Work in process 7,565  6,656 
Finished goods 4,142  2,679 
Total inventories $ 13,224  $ 10,776 
Property, Plant and Equipment
(In Millions) Dec 31, 2022 Dec 25, 2021
Land and buildings $ 44,808  $ 40,039 
Machinery and equipment 92,711  86,955 
Construction in progress 36,727  21,545 
Total property, plant and equipment, gross 174,246  148,539 
Less: Accumulated depreciation (93,386) (85,294)
Total property, plant and equipment, net $ 80,860  $ 63,245 
Our depreciable property, plant and equipment assets are depreciated over the following estimated useful lives: machinery and equipment, 3 to 5 years; and buildings, 10 to 25 years.
Net property, plant and equipment by country at the end of each period was as follows:
(In Millions) Dec 31, 2022 Dec 25, 2021
United States $ 53,681  $ 43,428 
Ireland 13,179  7,503 
Israel 7,908  7,754 
Other countries 6,092  4,560 
Total property, plant and equipment, net $ 80,860  $ 63,245 
Other Accrued Liabilities
Other accrued liabilities include deferred compensation of $2.4 billion as of December 31, 2022 ($2.8 billion as of December 25, 2021) and collateral received for derivatives under credit support annex agreements of $0.7 billion as of December 31, 2022 ($1.0 billion as of December 25, 2021).
AdvertisingAdvertising costs, including direct marketing, are expensed as incurred and recorded within MG&A expenses. Advertising costs were $1.2 billion in 2022 ($1.1 billion in 2021 and $763 million in 2020).
Interest and Other, Net
Years Ended (In Millions) Dec 31, 2022 Dec 25, 2021 Dec 26, 2020
Interest income $ 589  $ 144  $ 272 
Interest expense (496) (597) (629)
Other, net 1,073  (29) (147)
Total interest and other, net $ 1,166  $ (482) $ (504)
Interest expense is net of $785 million of interest capitalized in 2022 ($398 million in 2021 and $338 million in 2020).
Other, net includes a $1.0 billion gain recognized in 2022 from the first closing of the divestiture of our NAND memory business.