Other Financial Statement Details |
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| Other Financial Statement Details [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 $800 million during the first three months of 2025 ($500 million during the first three months of 2024). 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
Other Accrued Liabilities
Other accrued liabilities include deferred compensation of $2.7 billion as of March 29, 2025 ($3.3 billion as of December 28, 2024).
Interest and Other, Net
Interest expense is net of $312 million of interest capitalized in the first three months of 2025 ($363 million in the first three months of 2024).
Other, net includes a $94 million charge in the first three months of 2025 related to the sale of our NAND memory business (refer to "Note 9: Divestitures" within Notes to Consolidated Condensed Financial Statements).
Government Incentives
In the first three months of 2025, we recognized $778 million in grants under the CHIPS Act, including capital-related incentives which reduced gross property, plant and equipment by $690 million, and operating-related incentives which benefited operating income by $88 million, substantially all of which was recorded in cost of sales. Additionally, in the first three months of 2025 we recognized an advanced manufacturing investment tax credit of $298 million ($435 million in the first three months of 2024), which may be refunded to us in cash to the extent it exceeds our outstanding income tax liabilities.
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