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Common Stock and Stock-Based Incentive Compensation Plans (Tables) | 12 Months Ended
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Dec. 28, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Common Shares Outstanding | Shares of common stock outstanding were as follows:
| Year Ended
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
| (In millions)
Balance, beginning of period | 1,616 |  |  | 1,612 |  |  | 1,207 |
Common stock issued in the acquisition of Xilinx | — |  |  | — |  |  | 429 |
Common stock issued under employee equity plans | 17 |  |  | 17 |  |  | 17 |
Repurchases of common stock | (6) |  |  | (10) |  |  | (36) |
Common stock repurchases for tax withholding on equity awards | (5) |  |  | (4) |  |  | (5) |
Issuance of common stock upon warrant exercise | — |  |  | 1 |  |  | — |
Balance, end of period | 1,622 |  |  | 1,616 |  |  | 1,612 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | Stock-based compensation expense was allocated in the Company’s Consolidated Statements of Operations as follows:
| Year Ended
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
| (In millions)
Cost of sales | $ | 21 |  |  | $ | 30 |  |  | $ | 29 |
Research and development | 1,079 |  |  | 1,002 |  |  | 697 |
Marketing, general, and administrative | 307 |  |  | 352 |  |  | 355 |
Total stock-based compensation expense before income taxes | 1,407 |  |  | 1,384 |  |  | 1,081 |
Income tax benefit | (251) |  |  | (249) |  |  | (179) |
Total stock-based compensation expense, net of income taxes | $ | 1,156 |  |  | $ | 1,135 |  |  | $ | 902 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The weighted-average estimated fair value of employee stock options granted during 2024, 2023 and 2022 was $68.38, $53.72 and $44.35 per share, respectively, using the following assumptions:
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Expected volatility | 54.34 | % |  | 52.36% - 52.42% |  | 51.28 | %
Risk-free interest rate | 3.80 | % |  | 3.93% - 4.11% |  | 3.00 | %
Expected dividends | — | % |  | — | % |  | — | %
Expected life (in years) | 4.98 |  | 4.96 - 5.04 |  | 4.75
The weighted-average grant date fair values of PRSUs granted during 2024, 2023 and 2022 were $118.98, $134.87 and $121.12, respectively, using the following assumptions:
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Expected volatility | 52.68% - 53.19% |  | 51.12% - 56.22% |  | 50.65% - 53.51%
Risk-free interest rate | 3.82% - 4.41% |  | 4.30% - 4.36% |  | 1.14%- 3.17%
Expected dividends | — | % |  | — | % |  | — | %
Expected term (in years) | 2.48 - 3.00 |  | 2.17 - 3.00 |  | 2.07 - 3.07
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 Value |  | Weighted-Average Remaining Contractual Life (in years)
| (In millions, except share price) |  |
Balance as of December 30, 2023 | 3 |  |  | $ | 68.33 |  |  |  |  |
Granted | — |  |  | $ | 134.27 |  |  |  |  |
Forfeited | — |  |  | $ | 102.71 |  |  |  |  |
Exercised | (1) |  |  | $ | 22.17 |  |  |  |  |
Balance as of December 28, 2024 | 2 |  |  | $ | 89.73 |  |  | $ | 81 |  |  | 3.92
Exercisable December 28, 2024 | 1 |  |  | $ | 74.61 |  |  | $ | 69 |  |  | 2.83
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 30, 2023 | 32 |  |  | $ | 100.65 |  |  |  |  |
Granted | 12 |  |  | $ | 141.95 |  |  |  |  |
Forfeited | (1) |  |  | $ | 107.96 |  |  |  |  |
Vested | (13) |  |  | $ | 101.35 |  |  |  |  |
Unvested shares as of December 28, 2024 | 30 |  |  | $ | 116.77 |  |  |  |  |
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 30, 2023 | 2 |  |  | $ | 117.65 |  |  |  |  |
Granted | 1 |  |  | $ | 118.98 |  |  |  |  |
Forfeited | — |  |  | $ | 132.80 |  |  |  |  |
Vested | (1) |  |  | $ | 91.15 |  |  |  |  |
Unvested shares as of December 28, 2024 | 2 |  |  | $ | 139.31 |  |  |  |  |
Schedule of ESPP | The weighted-average grant date fair value for the ESPP during 2024, 2023 and 2022 was $43.80, $31.11 and $24.71 per share, respectively, using the following assumptions:
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022 |  |  |  |
Expected volatility | 48.14% - 49.38% |  | 45.74% - 49.40% |  | 58.15% - 63.76% |  |  |  |
Risk-free interest rate | 4.42% - 5.41% |  | 5.13% - 5.46% |  | 1.43% - 4.52% |  |  |  |
Expected dividends | — | % |  | — | % |  | — | % |  |  |  |
Expected term (in years) | 0.50 |  | 0.50 |  | 0.50 |  |  |  |

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