Other Financial Statement Details

12 Months Ended

Dec. 25, 2021

Other Financial Statement Details [Abstract]

Other Financial Statement Details [Text Block]

Note 6 : Other Financial Statement Details

Inventories

(In Millions)	Dec 25, 2021		Dec 26, 2020
Raw materials	$	1,441	$	908
Work in process	6,656		5,693
Finished goods	2,679		1,826
Total inventories	$	10,776	$	8,427

Property, Plant and Equipment

(In Millions)	Dec 25, 2021		Dec 26, 2020
Land and buildings	$	40,039	$	37,536
Machinery and equipment	86,955		79,384
Construction in progress	21,545		17,309
Total property, plant and equipment, gross	148,539		134,229
Less: accumulated depreciation	(85,294)		(77,645)
Total property, plant and equipment, net	$	63,245	$	56,584

Our depreciable property, plant and equipment assets are depreciated over the following estimated useful lives: machinery and equipment, 2 to 5 years; and buildings, 10 to 25 years.

Net property, plant and equipment by country at the end of each period was as follows:

(In Millions)	Dec 25, 2021		Dec 26, 2020
United States	$	43,428	$	38,829
Israel	7,754		7,837
Ireland	7,503		5,828
Other countries	4,560		4,090
Total property, plant and equipment, net	$	63,245	$	56,584

Other Accrued Liabilities

Other accrued liabilities include deferred compensation of $2.8 billion as of December 25, 2021 ($2.5 billion as of December 26, 2020) and collateral received for derivatives under credit support annex agreements of $1.0 billion as of December 25, 2021 ($2.0 billion as of December 26, 2020).

AdvertisingAdvertising costs, including direct marketing, are expensed as incurred and recorded within MG&A expenses. Advertising costs were $1.1 billion in 2021 ($763 million in 2020 and $832 million in 2019).

Interest and Other, Net

Years Ended (In Millions)	Dec 25, 2021		Dec 26, 2020		Dec 28, 2019
Interest income	$	144	$	272	$	483
Interest expense	(597)		(629)		(489)
Other, net	(29)		(147)		490
Total interest and other, net	$	(482)	$	(504)	$	484

Interest expense in the preceding table is net of $398 million of interest capitalized in 2021 ($338 million in 2020 and $472 million in 2019).