Investments

9 Months Ended

Sep. 27, 2025

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

A rollforward of the Company’s long-term investments is as follows (in millions):

	Nine Months Ended
	September 27, 2025		September 28, 2024
Balance at the beginning of the period	$	110	$	113
Impairment losses	(11)		(6)
Purchases of long-term investments	4		3
Proceeds from sale of long-term investments	(1)		—
Balance at the end of the period	$	102	$	110

The Company recognized impairment losses of $1 million for the three months ended September 27, 2025 and no impairment losses for the three months ended September 28, 2024.

The carrying value of the Company’s long-term investments are included in Other long-term assets on the Consolidated Balance Sheets. Net gains and losses are included within Other expense, net on the Consolidated Statements of Operations.