Related Party - Equity Joint Ventures

9 Months Ended

Sep. 26, 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 $306 million and $176 million as of September 26, 2026 and December 27, 2025, respectively, and is recorded within Other non-current assets on the Company’s Consolidated Balance Sheets.

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 nine months ended September 26, 2026 were $581 million and $1.8 billion, respectively, and during the three and nine months ended September 27, 2025 were $483 million and $1.5 billion, respectively. Amounts payable to related parties were $606 million and $408 million as of September 26, 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 September 26, 2026 and December 27, 2025, bearing interest at a variable rate plus a margin payable quarterly, 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 nine months ended September 26, 2026 and September 27, 2025.