Annual report pursuant to Section 13 and 15(d)

Supplemental Balance Sheet Information

v3.20.4
Supplemental Balance Sheet Information
 12 Months Ended
Dec. 26, 2020
Balance Sheet Related Disclosures [Abstract]  
Supplemental Balance Sheet Information Supplemental Financial Statement Information
Short-term Investments
As of December 26, 2020, the Company had $400 million of time deposits and $295 million of commercial paper. As of December 28, 2019, the Company had $37 million of commercial paper.
Accounts Receivable, net
As of December 26, 2020 and December 28, 2019, Accounts receivable, net included unbilled accounts receivable of $123 million and $197 million, respectively. 
Inventories
December 26,
2020		 December 28,
2019
  (In millions)
Raw materials $ 93  $ 94 
Work in process 1,139  691 
Finished goods 167  197 
Total inventories $ 1,399  $ 982 
Property and Equipment, net
December 26,
2020		 December 28,
2019
  (In millions)
Leasehold improvements $ 208  $ 203 
Equipment 1,209  951 
Construction in progress 136  114 
Property and equipment, gross 1,553  1,268 
Accumulated depreciation (912) (768)
Total property and equipment, net $ 641  $ 500 
Depreciation expense for 2020, 2019 and 2018 was $217 million, $142 million and $94 million, respectively.
Other Non-current Assets
December 26,
2020		 December 28,
2019
  (In millions)
Software and technology licenses, net $ 229  $ 210 
Other 144  147 
Total other non-current assets $ 373  $ 357 
Accrued Liabilities
December 26,
2020		 December 28,
2019
  (In millions)
Accrued compensation and benefits $ 513  $ 285 
Accrued marketing programs and advertising expenses 839  454 
Other accrued and current liabilities 444  345 
Total accrued liabilities $ 1,796  $ 1,084 
Unearned Revenue
Unearned revenue represents consideration received or due from customers in advance of the Company satisfying its performance obligations. The unearned revenue is associated with any combination of development services, IP licensing and product revenue. Changes in unearned revenue were as follows:
December 26,
2020		 December 28,
2019
(In millions)
Beginning balance $ 2  $ 11 
Unearned revenue 22  43 
Revenue recognized during the period (9) (52)
Ending balance $ 15  $ 2 
Revenue allocated to remaining performance obligations that are unsatisfied (or partially unsatisfied) as of December 26, 2020 was $337 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 $174 million of revenue allocated to remaining performance obligations in the next 12 months.
The revenue allocated to remaining performance obligations did not include amounts which have an original expected duration of one year or less.