INCOME TAXES

3 Months Ended

Mar. 28, 2026

INCOME TAXES

INCOME TAXES

NOTE 6 - INCOME TAXES

The Company’s quarterly benefit (provision) for income taxes and the estimates of its annual effective tax rate, are subject to fluctuation due to several factors, principally including variability in overall pre-tax income and the mix of tax paying components to which such income relates.

As the Company has jurisdictions that have sustained recent losses, a valuation allowance is required for deferred tax assets for which no benefit can be currently realized.

Benefit for income tax in the three months ended March 28, 2026, was $64 million compared to a provision for income tax of $(3) million for the three months ended March 29, 2025. This $67 million change was primarily due to the deferred tax effect of goodwill impairment to the Mobileye reporting unit recorded in the three months ended March 28, 2026.