Quarterly report pursuant to Section 13 or 15(d)

Other Financial Statement Details

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Other Financial Statement Details
 6 Months Ended
Jun. 29, 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 $1.0 billion during the first six months of 2024 ($1.0 billion in the first six 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)
 Jun 29, 2024 Dec 30, 2023
Raw materials
 $ 1,284  $ 1,166 
Work in process
 6,294  6,203 
Finished goods
 3,666  3,758 
Total inventories $ 11,244  $ 11,127 
Other Accrued Liabilities
Other accrued liabilities include deferred compensation of $3.0 billion as of June 29, 2024 ($2.9 billion as of December 30, 2023).
Interest and Other, Net
  Three Months Ended Six Months Ended
(In Millions)
 Jun 29, 2024 Jul 1, 2023 Jun 29, 2024 Jul 1, 2023
Interest income
 $ 320  $ 313  $ 643  $ 647 
Interest expense
 (294) (214) (552) (407)
Other, net
 54  125  134  125 
Total interest and other, net $ 80  $ 224  $ 225  $ 365 
Interest expense is net of $374 million of interest capitalized in the second quarter of 2024 and $737 million in the first six months of 2024 ($381 million in the second quarter of 2023 and $744 million in the first six months of 2023).