XML 55 R31.htm IDEA: XBRL DOCUMENT v3.24.0.1
Common Stock and Stock-Based Incentive Compensation Plans (Tables)
 12 Months Ended
Dec. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Common Shares Outstanding
Shares of common stock outstanding were as follows:
Year Ended
December 30,
2023		December 31,
2022		December 25,
2021
(In millions)
Balance, beginning of period1,612 1,207 1,211 
Common stock issued in the acquisition of Xilinx— 429 — 
Common stock issued under employee equity plans17 17 12 
Repurchases of common stock(10)(36)(17)
Common stock repurchases for tax withholding on equity awards(4)(5)(2)
Issuance of common stock upon warrant exercise1 — — 
Issuance of common stock to settle convertible debt— — 3 
Balance, end of period1,616 1,612 1,207 
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 30, 2023December 31, 2022December 25, 2021
 (In millions)
Cost of sales$30 $29 $5 
Research and development1,002 697 246 
Marketing, general, and administrative352 355 128 
Total stock-based compensation expense before income taxes1,384 1,081 379 
Income tax benefit(249)(179)(58)
Total stock-based compensation expense, net of income taxes$1,135 $902 $321 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The weighted-average estimated fair value of employee stock options granted during 2023, 2022 and 2021 was $53.72, $44.35 and $46.07 per share, respectively, using the following assumptions:
December 30, 2023December 31, 2022December 25, 2021
Expected volatility
52.36% - 52.42%
51.28 %51.77 %
Risk-free interest rate
3.93% - 4.11%
3.00 %0.69 %
Expected dividends— %— %— %
Expected life (in years)
4.96 - 5.04
4.754.55
The weighted-average grant date fair values of PRSUs granted during 2023, 2022 and 2021 were $134.87, $121.12 and $153.89, respectively, using the following assumptions:
December 30, 2023December 31, 2022December 25, 2021
Expected volatility
51.12% - 56.22%
50.65% - 53.51%
57.75 %
Risk-free interest rate
4.30% - 4.36%
1.14% - 3.17%
0.43 %
Expected dividends— %— %— %
Expected term (in years)
2.17 - 3.00
2.07 - 3.07
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 ValueWeighted-Average Remaining Contractual Life
(in years)
 (In millions, except share price)
Balance as of December 31, 20224 $42.35 
Granted1 $108.19 
Canceled— $98.54 
Exercised(2)$18.22 
Balance as of December 30, 20233 $68.33 $205 3.87
Exercisable December 30, 20232 $49.54 $164 2.73
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
 
(In millions)
Unvested shares as of December 31, 202228 $95.49 
Granted16 $106.28 
Forfeited(2)$99.48 
Vested(10)$99.83 
Unvested shares as of December 30, 202332 $100.65 
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
(In millions)
Unvested shares as of December 31, 20222 $110.31 
Granted1 $134.87 
Forfeited— $134.53 
Vested(1)$129.78 
Unvested shares as of December 30, 20232 $117.65 
Schedule of ESPP The weighted-average grant date fair value for the ESPP during 2023, 2022 and 2021 was $31.11, $24.71 and $27.27 per share, respectively, using the following assumptions:
December 30, 2023December 31, 2022December 25, 2021
Expected volatility
45.74% - 49.40%
58.15% - 63.76%
36.90% - 39.39%
Risk-free interest rate
5.13% - 5.46%
1.43% - 4.52%
0.04% - 0.07%
Expected dividends— %— %— %
Expected term (in years)0.500.500.50