Annual report pursuant to Section 13 and 15(d)

Supplemental Balance Sheet Information

v3.24.0.1
Supplemental Balance Sheet Information
 12 Months Ended
Dec. 30, 2023
Balance Sheet Related Disclosures [Abstract]  
Supplemental Balance Sheet Information Supplemental Financial Statement Information
Accounts Receivable, net
As of December 30, 2023 and December 31, 2022, Accounts receivable, net included unbilled accounts receivable of $1.1 billion. Unbilled accounts receivables primarily represent work completed for development services and on custom products for which revenue has been recognized but not yet invoiced. All unbilled accounts receivable are expected to be billed and collected within 12 months.
Inventories
 December 30,
2023		 December 31,
2022
  (In millions)
Raw materials $ 279  $ 231 
Work in process 3,260  2,648 
Finished goods 812  892 
Total inventories $ 4,351  $ 3,771 
Property and Equipment, net
 December 30,
2023		 December 31,
2022
  (In millions)
Land, building and leasehold improvements
 $ 821  $ 714 
Equipment 2,346  2,163 
Construction in progress 209  143 
Property and equipment, gross 3,376  3,020 
Accumulated depreciation (1,787) (1,507)
Total property and equipment, net $ 1,589  $ 1,513 
Depreciation expense for 2023, 2022 and 2021 was $441 million, $439 million and $296 million, respectively.
Accrued Liabilities
 December 30,
2023		 December 31,
2022
  (In millions)
Accrued marketing programs $ 827  $ 876 
Accrued compensation and benefits 884  701 
Customer program liabilities 544  859 
Other accrued and current liabilities 827  641 
Total accrued liabilities $ 3,082  $ 3,077 
Revenue
Revenue allocated to remaining performance obligations that are unsatisfied (or partially unsatisfied) include amounts received from customers and amounts that will be invoiced and recognized as revenue in future periods for development services, IP licensing and product revenue. As of December 30, 2023, the aggregate transaction price allocated to remaining performance obligations under contracts with an original expected duration of more than one year was $137 million, of which $85 million is expected to be recognized in the next 12 months. The revenue allocated to remaining performance obligations does not include amounts which have an original expected duration of one year or less.
Revenue recognized over time associated with custom products and development services accounted for approximately 25%, 24% and 23% of the Company’s revenue in 2023, 2022 and 2021, respectively.