Quarterly report pursuant to Section 13 or 15(d)

Other Financial Statement Details

v3.23.1
Other Financial Statement Details
 3 Months Ended
Apr. 01, 2023
Other Financial Statement Details [Abstract]  
Other Financial Statement Details
Note 5 : Other Financial Statement Details
Accounts Receivable
We sell 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 Condensed Statements of Cash Flows. Accounts receivable sold under non-recourse factoring arrangements were $500 million during the first three months of 2023, and we did not factor accounts receivable during the first three months of 2022. After the sale of our accounts receivable, we will collect payment from the customers and remit it to the third-party financial institution.
Inventories
(In Millions)
 Apr 1, 2023 Dec 31, 2022
Raw materials
 $ 1,358  $ 1,517 
Work in process
 7,415  7,565 
Finished goods
 4,220  4,142 
Total inventories $ 12,993  $ 13,224 
Interest and Other, Net
  Three Months Ended
(In Millions)
 Apr 1, 2023 Apr 2, 2022
Interest income
 $ 334  $ 47 
Interest expense
 (193) (124)
Other, net
 —  1,074 
Total interest and other, net $ 141  $ 997 
Interest expense is net of $363 million of interest capitalized in the first three months of 2023 ($142 million in the first three months of 2022). Other, net includes a gain in 2022 of $1.0 billion resulting from the first closing of the divestiture of our NAND memory business.