Quarterly report pursuant to Section 13 or 15(d)

Supplemental Balance Sheet Information

v3.20.2
Supplemental Balance Sheet Information
 9 Months Ended
Sep. 26, 2020
Balance Sheet Related Disclosures [Abstract]  
Supplemental Balance Sheet Information Supplemental Balance Sheet Information
Short-term Investments
Short-term investments consist of time deposits and commercial paper. As of September 26, 2020, the Company had $400 million of time deposits and $75 million of commercial paper. As of December 28, 2019, the Company had $37 million of commercial paper.
Accounts Receivable, net
As of September 26, 2020 and December 28, 2019, Accounts receivable, net included unbilled accounts receivable of $115 million and $197 million, respectively. Unbilled receivables primarily represent work completed on development services recognized as revenue but not yet invoiced to customers and semi-custom products under non-cancellable purchase orders that have no alternative use to the Company at contract inception, for which revenue has been recognized but not yet invoiced to customers. All unbilled accounts receivable are expected to be billed and collected within twelve months.
Inventories
September 26,
2020		 December 28,
2019
  (In millions)
Raw materials $ 98  $ 94 
Work in process 990  691 
Finished goods 204  197 
Total inventories $ 1,292  $ 982 
Property and Equipment, net
September 26,
2020		 December 28,
2019
  (In millions)
Leasehold improvements $ 203  $ 203 
Equipment 1,190  951 
Construction in progress 92  114 
Property and equipment, gross 1,485  1,268 
Accumulated depreciation (890) (768)
Total property and equipment, net $ 595  $ 500 
Other Non-Current Assets
September 26,
2020		 December 28,
2019
(In millions)
Software technology and licenses, net $ 194  $ 210 
Other 170  169 
Total other non-current assets $ 364  $ 379 
Accrued Liabilities
September 26,
2020		 December 28,
2019
  (In millions)
Accrued compensation and benefits $ 379  $ 285 
Accrued marketing programs and advertising expenses 709  454 
Other 390  345 
Total accrued liabilities $ 1,478  $ 1,084 
Remaining Performance Obligations
Revenue allocated to remaining performance obligations that are unsatisfied (or partially unsatisfied) as of September 26, 2020 is $375 million, which may include amounts received from customers but not yet earned and amounts that will be invoiced and recognized as revenue in future periods associated with any combination of development services, IP licensing and product revenue. The Company expects to recognize $178 million of such amounts as revenue in the next 12 months.
The revenue allocated to remaining performance obligations does not include amounts which have an original expected contractual duration of one year or less.