Common Stock and Stock-Based Incentive Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Common Shares Outstanding

Shares of common stock outstanding were as follows:

	Year Ended
	December 31, 2022	December 25, 2021	December 26, 2020
	(In millions)
Balance, beginning of period	1,207	1,211	1,170
Common stock issued in the acquisition of Xilinx	429	—	—
Common stock issued under employee equity plans	17	12	14
Repurchases of common stock	(36)	(17)	—
Common stock repurchases for tax withholding on equity awards	(5)	(2)	(1)
Issuance of common stock to settle convertible debt	—	3	28
Balance, end of period	1,612	1,207	1,211

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Stock-based compensation expense was allocated in the consolidated statements of operations as follows:

	Year Ended
	December 31, 2022		December 25, 2021		December 26, 2020
	(In millions)
Cost of sales	$	29	$	5	$	6
Research and development	697		246		173
Marketing, general, and administrative	355		128		95
Total stock-based compensation expense before income taxes	1,081		379		274
Income tax benefit	(179)		(58)		(42)
Total stock-based compensation expense, net of income taxes	$	902	$	321	$	232

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The weighted-average estimated fair value of employee stock options granted during 2022, 2021 and 2020 was $44.35, $46.07 and $38.49 per share, respectively, using the following assumptions:

	December 31, 2022		December 25, 2021		December 26, 2020
Expected volatility	51.28	%	51.77	%	57.87	%
Risk-free interest rate	3.00	%	0.69	%	0.18	%
Expected dividends	—	%	—	%	—	%
Expected life (in years)	4.75		4.55		4.30

The weighted-average grant date fair values of PRSUs granted during 2022, 2021 and 2020 were $121.12, $153.89 and $122.95, respectively, using the following assumptions:

	December 31, 2022		December 25, 2021		December 26, 2020
Expected volatility	50.65% - 53.51%		57.75	%	55.74% - 60.10%
Risk-free interest rate	1.14% - 3.17%		0.43	%	0.14% - 1.41%
Expected dividends	—	%	—	%	—	%
Expected term (in years)	2.07 - 3.07		3.00		2.48 - 3.00

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity and related information:

	Outstanding Number of Shares	Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted-Average Remaining Contractual Life (in years)
	(In millions, except share price)
Balance as of December 25, 2021	5	$	23.98
Granted	1	$	95.54
Exercised	(2)	$	4.27
Balance as of December 31, 2022	4	$	42.35	$	130	3.17
Exercisable December 31, 2022	3	$	25.67	$	130	2.27

Schedule of Share-based Compensation, Restricted Stock Units, Activity

The following table summarizes time-based RSU activity and related information:

	Number of Shares	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value		Weighted-Average Remaining Contractual Life (in years)
	(In millions except share price)
Unvested shares as of December 25, 2021	10	$	79.03
Assumed with acquisition of Xilinx	12	$	103.35
Granted	17	$	92.92
Forfeited	(2)	$	98.06
Vested	(9)	$	86.27
Unvested shares as of December 31, 2022	28	$	95.49	$	1,810	1.67

Schedule of Nonvested Performance-based Units Activity

The following table summarizes PRSU activity and related information:

	Number of Shares	Weighted-Average Grant Date Fair Value		Aggregate Intrinsic Value		Weighted-Average Remaining Contractual Life (in years)
	(In millions except share price)
Unvested shares as of December 25, 2021	2	$	78.59
Granted	1	$	121.12
Forfeited	—	$	—
Vested	(1)	$	51.77
Unvested shares as of December 31, 2022	2	$	110.31	$	118	1.76

Schedule of ESPP

The weighted-average grant date fair value for the ESPP during 2022, 2021 and 2020 was $24.71, $27.27 and $20.97 per share, respectively, using the following assumptions:

	December 31, 2022		December 25, 2021		December 28, 2020
Expected volatility	58.15% - 63.76%		36.90% - 39.39%		55.16% - 66.53%
Risk-free interest rate	1.43% - 4.52%		0.04% - 0.07%		0.11% - 0.15%
Expected dividends	—	%	—	%	—	%
Expected term (in years)	0.50		0.50		0.50