Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation and Significant Accounting Policies (Tables)

v3.8.0.1
Basis of Presentation and Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The impact on the Company’s previously reported Consolidated Statement of Operations as a result of the adoption of the new standard is as follows:
 
Three months ended April 1, 2017
 
As Previously Reported
 
Adjustment
 
As Adjusted
 
(In millions, except per share amounts)
Net revenue
$
984

 
$
194

 
$
1,178

Cost of sales
653

 
147

 
800

Gross margin
331

 
47

 
378

Research and development
266

 
5

 
271

Marketing, general and administrative
121

 
2

 
123

Licensing gain
(27
)
 
—

 
(27
)
Operating income (loss)
(29
)
 
40

 
11

Interest expense
(32
)
 
—

 
(32
)
Other income (expense), net
(5
)
 
—

 
(5
)
Income (loss) before equity loss and income taxes
(66
)
 
40

 
(26
)
Provision for income taxes
5

 
—

 
5

Equity loss in investee
(2
)
 
—

 
(2
)
Net income (loss)
$
(73
)
 
$
40

 
$
(33
)
Earnings (loss) per share
 
 
 
 

  Basic
$
(0.08
)
 
$
0.04

 
$
(0.04
)
  Diluted
$
(0.08
)
 
$
0.04

 
$
(0.04
)
Shares used in per share calculation
 
 
 
 

  Basic
939

 


 
939

  Diluted
939

 


 
939


The impact on the Company’s previously reported Consolidated Balance Sheets line items affected by the adoption of the new standard is as follows:
 
December 30, 2017
 
As Previously Reported
 
Adjustment
 
As Adjusted
 
(In millions, except per share amounts)
Accounts receivable, net
$
400

 
$
54

 
$
454

Inventories, net
739

 
(45
)
 
694

Other current assets
188

 
3

 
191

Accrued liabilities
541

 
14

 
555

Other current liabilities
57

 
35

 
92

Deferred income on shipments to distributors
22

 
(22
)
 
—

Accumulated deficit
$
(7,760
)
 
$
(15
)
 
$
(7,775
)