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Supplemental Balance Sheet Information
 12 Months Ended
Dec. 25, 2021
Balance Sheet Related Disclosures [Abstract]  
Supplemental Balance Sheet Information Supplemental Financial Statement Information
Short-term Investments
December 25,
2021		December 26,
2020
 (In millions)
Commercial paper$880 $295 
Time deposits193 400 
Total short-term investments$1,073 $695 
Accounts Receivable, net
As of December 25, 2021 and December 26, 2020, Accounts receivable, net included unbilled accounts receivable of $329 million and $123 million, respectively. Unbilled accounts receivables primarily represent work completed for development services and on custom products for which revenue has been recognized but not yet invoiced. All unbilled accounts receivable are expected to be billed and collected within 12 months.
Inventories
December 25,
2021		December 26,
2020
 (In millions)
Raw materials$82 $93 
Work in process1,676 1,139 
Finished goods197 167 
Total inventories$1,955 $1,399 
Property and Equipment, net
December 25,
2021		December 26,
2020
 (In millions)
Leasehold improvements$206 $208 
Equipment1,534 1,209 
Construction in progress96 136 
Property and equipment, gross1,836 1,553 
Accumulated depreciation(1,134)(912)
Total property and equipment, net$702 $641 
Depreciation expense for 2021, 2020 and 2019 was $296 million, $217 million and $142 million, respectively.
Other Non-current Assets
December 25,
2021		December 26,
2020
 (In millions)
Prepaid long-term supply agreements$916 $— 
Software and technology licenses, net328 229 
Other 234 144 
Total other non-current assets$1,478 $373 
Prepaid long-term supply agreements relate to payments made to vendors to secure long-term supply capacity.
Accrued Liabilities
December 25,
2021		December 26,
2020
 (In millions)
Accrued marketing programs$933 $839 
Accrued compensation and benefits705 513 
Other accrued and current liabilities786 444 
Total accrued liabilities$2,424 $1,796 
Revenue
Revenue allocated to remaining performance obligations that are unsatisfied (or partially unsatisfied) include amounts received from customers and amounts that will be invoiced and recognized as revenue in future periods for development services, IP licensing and product revenue. As of December 25, 2021, the aggregate transaction price allocated to remaining performance obligations under contracts with an original expected duration of more than one year was $197 million, of which $126 million is expected to be recognized in the next 12 months. The revenue allocated to remaining performance obligations does not include amounts which have an original expected duration of one year or less.
Revenue recognized over time associated with custom products and development services accounted for approximately 23%, 18% and 19% of the Company’s revenue in 2021, 2020 and 2019, respectively.