Related-Party Transactions

6 Months Ended

Jun. 28, 2020

Related-Party Transactions 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			For the six months ended
	June 28, 2020	June 30, 2019	June 28, 2020	June 30, 2019
Revenue and other income	18	21	36	44
Purchase of goods and services	14	16	26	35

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


	June 28, 2020	December 31, 2019
Receivables	7	21
Payables	10	9

As part of the divestment of the SP business, we entered into a lease commitment and related services to Nexperia, which is $59 million as of June 28, 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.