Related Party - Equity Joint Ventures

6 Months Ended

Jun. 27, 2026

Equity Method Investments and Joint Ventures [Abstract]

Related Parties - Equity Joint Ventures

Equity Method Investments

The Company has investments accounted for under the equity method, which are considered related parties. The carrying value of the Company’s investments accounted for under the equity method was $302 million and $176 million as of June 27, 2026 and December 27, 2025, respectively, and is recorded within Other non-current assets on the Company’s Consolidated Balance Sheets. The Company has no obligation to fund these investees.

The Company’s transactions with these related parties consist primarily of assembly, test, mark and packaging (ATMP) services provided in the ordinary course of business. Purchases from related parties during the three and six months ended June 27, 2026 were $594 million and $1.2 billion, respectively, and during the three and six months ended June 28, 2025 were $529 million and $1.0 billion, respectively. Amounts payable to related parties were $569 million and $408 million as of June 27, 2026 and December 27, 2025, respectively, and are recorded within Accounts payable on the Company’s Consolidated Balance Sheets. The Company also has a $100 million term loan receivable outstanding from one of the investees as of June 27, 2026 and December 27, 2025, bearing interest at a variable rate plus a margin payable quarterly and maturing in October 2026, recorded with related interest receivable within Prepaid expenses and other current assets on the Company’s Consolidated Balance Sheets.

Equity income from these investees, recorded in Equity income in investee on the Company’s Consolidated Statements of Operations, was not material for the three and six months ended June 27, 2026 and the three and six months ended June 28, 2025.