Related-Party Transactions

3 Months Ended

Mar. 29, 2020

The Company's related parties are the members of the board of directors of NXP, the executive officers of NXP and equity-accounted investees. As of the divestment of the SP business on February 7, 2017, the newly formed Nexperia has become a related party.

We have a number of strategic alliances and joint ventures. We have relationships with certain of our alliance partners in the ordinary course of business whereby we enter into various sale and purchase transactions, generally on terms comparable to transactions with third parties. However, in certain instances upon divestment of former businesses where we enter into supply arrangements with the former owned business, sales are conducted at cost.

The following table presents the amounts related to revenue and other income and purchase of goods and services incurred in transactions with these related parties:



	For the three months ended
	March 29, 2020	March 31, 2019
Revenue and other income	18	23
Purchase of goods and services	12	19

The following table presents the amounts related to receivable and payable balances with these related parties:



	March 29, 2020	December 31, 2019
Receivables	21	21
Payables	6	9

As part of the divestment of the SP business, we entered into a lease commitment and related services to Nexperia, which is $60 million as of March 29, 2020, and committed $50 million to an investment fund affiliated with Nexperia’s owners. The lease commitments are reflected in our recorded lease liabilities in other current and non-current liabilities.