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Contingencies | 6 Months Ended
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Jul. 01, 2023
Commitments and Contingencies Disclosure [Abstract] |
Contingencies | Commitments and Contingencies Commitments The Company’s purchase commitments primarily include obligations to purchase wafers and substrates from third parties. These purchase obligations were made under noncancellable purchase orders or contractual obligations requiring minimum purchases for which cancellation would lead to significant penalties. Purchase commitments also include future payments related to certain software, technology and IP licenses. Total future unconditional purchase commitments as of July 1, 2023 were as follows:
Fiscal Year | (In millions)
Remainder of 2023 | $ | 3,944 |
2024 | 1,599 |
2025 | 345 |
2026 | 183 |
2027 | 53 |
2028 and thereafter | 160 |
Total unconditional purchase commitments | $ | 6,284 |
On an ongoing basis, the Company works with suppliers on timing of payments and deliveries of purchase commitments, taking into account business conditions. Contingencies During the quarterly period ended July 1, 2023, there were no material legal proceedings. The Company is a defendant or plaintiff in various actions that arose in the normal course of business. With respect to these matters, based on management’s current knowledge, the Company believes that the amount or range of reasonably possible loss, if any, will not, either individually or in the aggregate, have a material adverse effect on the Company’s financial position, results of operations, or cash flows.

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