Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.24.3
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net revenue $ 6,819 $ 5,800 $ 18,127 $ 16,512
Cost of sales 3,167 2,843 8,590 8,236
Amortization of acquisition-related intangibles 233 210 694 727
Cost of sales 3,400 3,053 9,284 8,963
Gross profit 3,419 2,747 8,843 7,549
Research and development 1,636 1,507 4,744 4,361
Marketing, general and administrative 721 576 1,991 1,708
Amortization of acquisition-related intangibles-Opex 352 450 1,116 1,449
Licensing gain (14) (10) (37) (28)
Operating income 724 224 1,029 59
Interest expense (23) (26) (73) (79)
Other income (expense), net 36 59 144 148
Income before income taxes and equity income 737 257 1,100 128
Income tax (benefit) (27) (39) (38) (49)
Equity income in investee 7 3 21 10
Net income $ 771 $ 299 $ 1,159 $ 187
Earnings per share        
Basic (in usd per share) $ 0.48 $ 0.18 $ 0.72 $ 0.12
Diluted (in usd per share) $ 0.47 $ 0.18 $ 0.71 $ 0.11
Shares used in per share calculation        
Basic (in shares) 1,620 1,616 1,619 1,613
Diluted (in shares) 1,636 1,629 1,638 1,625