Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.3
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 24, 2022
Sep. 30, 2023
Sep. 24, 2022
Income Statement [Abstract]        
Net revenue $ 5,800 $ 5,565 $ 16,512 $ 18,002
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization 2,843 2,799 8,236 8,797
Amortization of acquisition-related intangibles- COGS 210 412 727 1,005
Cost of sales 3,053 3,211 8,963 9,802
Gross profit 2,747 2,354 7,549 8,200
Research and development 1,507 1,279 4,361 3,639
Marketing, general and administrative 576 557 1,708 1,746
Amortization of acquisition-related intangibles-Opex 450 590 1,449 1,499
Licensing gain (10) (8) (28) (97)
Operating income (loss) 224 (64) 59 1,413
Interest expense (26) (31) (79) (69)
Other income (expense), net 59 22 148 (24)
Income (loss) before income taxes and equity income 257 (73) 128 1,320
Income tax provision (benefit) (39) (135) (49) 32
Equity income in investee 3 4 10 11
Net income $ 299 $ 66 $ 187 $ 1,299
Earnings per share        
Basic (in usd per share) $ 0.18 $ 0.04 $ 0.12 $ 0.84
Diluted (in usd per share) $ 0.18 $ 0.04 $ 0.11 $ 0.84
Shares used in per share calculation        
Basic (in shares) 1,616 1,615 1,613 1,542
Diluted (in shares) 1,629 1,625 1,625 1,555