Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jun. 25, 2022
Jul. 01, 2023
Jun. 25, 2022
Income Statement [Abstract]        
Net revenue $ 5,359 $ 6,550 $ 10,712 $ 12,437
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization 2,704 3,115 5,393 5,998
Amortization of acquisition-related intangibles- COGS 212 407 517 593
Cost of sales 2,916 3,522 5,910 6,591
Gross profit 2,443 3,028 4,802 5,846
Research and development 1,443 1,300 2,854 2,360
Marketing, general and administrative 547 592 1,132 1,189
Amortization of acquisition-related intangibles-Opex 481 616 999 909
Licensing gain (8) (6) (18) (89)
Operating income (loss) (20) 526 (165) 1,477
Interest expense (28) (25) (53) (38)
Other income (expense), net 46 (4) 89 (46)
Income (loss) before income taxes and equity income (2) 497 (129) 1,393
Income tax provision (benefit) (23) 54 (10) 167
Equity income in investee 6 4 7 7
Net income (loss) $ 27 $ 447 $ (112) $ 1,233
Earnings (loss) per share        
Basic (in usd per share) $ 0.02 $ 0.28 $ (0.07) $ 0.82
Diluted (in usd per share) $ 0.02 $ 0.27 $ (0.07) $ 0.81
Shares used in per share calculation        
Basic (in shares) 1,612 1,618 1,612 1,506
Diluted (in shares) 1,627 1,632 1,612 1,521