Quarterly report pursuant to Section 13 or 15(d)

Other Financial Statement Details

v3.24.1.u1
Other Financial Statement Details
 3 Months Ended
Mar. 30, 2024
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 2024 ($500 million in the first three months of 2023). After the sale of our accounts receivable, we expect to collect payment from the customers and remit it to the third-party financial institution.
Inventories
(In Millions)
 Mar 30, 2024 Dec 30, 2023
Raw materials
 $ 1,209  $ 1,166 
Work in process
 6,560  6,203 
Finished goods
 3,725  3,758 
Total inventories $ 11,494  $ 11,127 
Other Accrued Liabilities
Other accrued liabilities include deferred compensation of $2.9 billion as of March 30, 2024 ($2.9 billion as of December 30, 2023).
Interest and Other, Net
  Three Months Ended
(In Millions)
 Mar 30, 2024 Apr 1, 2023
Interest income
 $ 323  $ 334 
Interest expense
 (258) (193)
Other, net
 80  — 
Total interest and other, net $ 145  $ 141 
Interest expense is net of $363 million of interest capitalized in the first three months of 2024 ($363 million in the first three months of 2023).