Non-Controlling Interests |
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| Noncontrolling Interest [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Controlling Interests |
Semiconductor Co-Investment Program
Ireland SCIP
As of March 28, 2026 and December 27, 2025, we consolidated the results of a limited liability company (Ireland SCIP), a VIE that related to our Intel-owned, Ireland-based wafer fabrication plant (Fab 34), into our Consolidated Condensed Financial Statements because we were the primary beneficiary. Generally, distributions were received from Ireland SCIP based on each investor's respective ownership of Ireland SCIP, of which Intel's was 51% as of March 28, 2026. Ireland SCIP has rights to factory output of Fab 34 and rights to resell the factory output to us. We retain sole ownership of Fab 34 and we are engaged as the Fab 34 operator in exchange for variable payments from Ireland SCIP based on the related factory output.
As of March 28, 2026 we were required to substantially complete construction of Fab 34 in accordance with contractual parameters and timelines or we would be required to pay delay-related liquidated damages to Apollo, the other investor, beginning in the second half of 2026, not to exceed $1.1 billion in total. Since December 28, 2024, we expected certain construction milestones for Fab 34 would be delayed as we refined our near-term production capacity requirements and related capital outlays relative to those that are required per the Ireland SCIP agreement. The liquidated damage provisions qualified as a non-designated derivative, which we recognized within other accrued liabilities for $359 million and other long-term liabilities for $173 million as of March 28, 2026 ($179 million in other accrued liabilities and $576 million in other long-term liabilities as of December 27, 2025). Though we continue to expect certain construction delays in the near term, we intend to complete construction of Fab 34 and, in the first quarter of 2026, our expectations regarding the achievement of certain construction milestones evolved favorably and, as a result, we recognized a benefit of $223 million within interest and other, net related to a reduction in the fair value of the liquidated damages liability we expected to pay pursuant to this contractual arrangement. Prior to April 2026, we were required to purchase minimum quantities of the related factory output from Ireland SCIP, or we would be subject to certain volume-related damages payable to Ireland SCIP, beginning at the earlier of when construction is complete or the third quarter of 2027.
As of March 28, 2026 and December 27, 2025, other than cash and cash equivalents held by Ireland SCIP, substantially all of the remaining assets and liabilities of Ireland SCIP were eliminated in our Consolidated Condensed Balance Sheets.
In April 2026, we reacquired Apollo's 49% minority ownership interest in Ireland SCIP for aggregate cash consideration of approximately $14.2 billion, inclusive of estimated transaction costs. The equity transaction will be recognized in our Consolidated Condensed Financial Statements in the second quarter of 2026 and will reflect that we own 100% of Ireland SCIP; the substantial termination of existing related operating and other ancillary agreements between Ireland SCIP, ourselves and Apollo; the elimination of the non-controlling interest balance related to Ireland SCIP; and the extinguishment of our derivative liability associated with the delay-related liquidated damage provisions (refer to the discussion above and “Note 13: Derivative Financial Instruments” within Notes to Consolidated Condensed Financial Statements). Any residual consideration will be recorded as a decrease to our capital in excess of par value.
Arizona SCIP
We consolidate the results of an Arizona limited liability company (Arizona SCIP), a VIE, into our Consolidated Condensed Financial Statements because we are the primary beneficiary. Contributions and distributions made between Arizona SCIP and investors are generally made based on our and Brookfield's proportional ownership interest in Arizona SCIP.
We are the primary beneficiary of two new chip factories still partially under construction by Arizona SCIP; we have the right to direct how and for what purpose the underlying assets will be used and to purchase 100% of the wafer output. During the year ended December 27, 2025, Arizona SCIP began placing manufacturing assets into service, making the assets available for our use. The production contract commenced in the first quarter of 2026 and we are required to both operate Arizona SCIP at minimum production levels and limit excess inventory held on site or we will be subject to certain volume-related damages payable to Arizona SCIP.
The property, plant, and equipment assets owned by Arizona SCIP and included in our Consolidated Condensed Balance Sheets as of March 28, 2026, which are not available to us as they can be used only to settle obligations of the VIE, consisted of construction in progress assets of $5.8 billion ($5.6 billion as of December 27, 2025) and assets that have been placed into service of $13.0 billion ($12.2 billion as of December 27, 2025). The remaining assets and liabilities of Arizona SCIP were eliminated in our Consolidated Condensed Balance Sheets.
Mobileye
We consolidate our majority owned subsidiary Mobileye pursuant to the voting interest model. In the first quarter of 2026, the non-cash impairment of goodwill related to our Mobileye reporting unit was attributed to Intel and to non-controlling interest holders based on our proportional ownership (see "Note 10: Goodwill" within Notes to Consolidated Condensed Financial Statements).
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