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Supplemental financial information (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure Text Block Supplement [Abstract] |
Restructuring charges and other | Restructuring charges/other are included in Other for segment reporting purposes and are comprised of the following components:
| For Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Integration charges (a) | $ | — |  |  | $ | 257 |  |  | $ | 104 |
Gains on sales of assets (b) | — |  |  | — |  |  | (50) |
Restructuring charges/other | $ | — |  |  | $ | 257 |  |  | $ | 54 |
(a)Includes costs related to our purchase of the Lehi, Utah, manufacturing facility, as well as preproduction costs before December 2022. (b)Includes a $50 million gain from the sale of property in October 2021.
Other income (expense), net (OI&E) | Other income (expense), net (OI&E)
| For Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Other income (a) | $ | 483 |  |  | $ | 169 |  |  | $ | 145 |
Other expense (b) | (43) |  |  | (63) |  |  | (2) |
Total | $ | 440 |  |  | $ | 106 |  |  | $ | 143 |
(a)Other income includes interest, royalty and lease income, as well as investment gains and losses. (b)Other expense includes a portion of pension and other retiree benefit costs, lease expense, tax interest, currency gains and losses and miscellaneous items.
Prepaid expenses and other current assets | Prepaid expenses and other current assets
| December 31,
| 2023 |  | 2022
U.S. CHIPS and Science Act investment tax credit | $ | 497 |  |  | $ | — |
Other | 264 |  |  | 302 |
Total | $ | 761 |  |  | $ | 302 |
Property, plant and equipment at cost | Property, plant and equipment at cost
| Depreciable Lives (Years) |  | December 31,
|  | 2023 |  | 2022
Land | n/a |  | $ | 150 |  |  | $ | 132 |
Buildings and improvements | 5 – 40 |  | 5,549 |  |  | 4,154 |
Machinery and equipment | 5 – 10 |  | 7,569 |  |  | 5,664 |
Total |  |  | $ | 13,268 |  |  | $ | 9,950 |
Schedule of goodwill | Goodwill by segment as of December 31, 2023 and 2022, is as follows:
| Goodwill
Analog | $ | 4,158 |
Embedded Processing | 172 |
Other | 32 |
Total | $ | 4,362 |
Other long-term assets | Other long-term assets
| December 31,
| 2023 |  | 2022
U.S. CHIPS and Science Act investment tax credit | $ | 859 |  |  | $ | 395 |
Other | 853 |  |  | 740 |
Total | $ | 1,712 |  |  | $ | 1,135 |
Accrued expenses and other liabilities | Accrued expenses and other liabilities
| December 31,
| 2023 |  | 2022
Accrued capital-related expenditures | $ | 341 |  |  | $ | 191 |
Other | 570 |  |  | 455 |
Total | $ | 911 |  |  | $ | 646 |
Accumulated other comprehensive income (loss), net of taxes (AOCI) | Accumulated other comprehensive income (loss), net of taxes (AOCI)
| December 31,
| 2023 |  | 2022
Postretirement benefit plans: |  |  |
Net actuarial loss | $ | (207) |  |  | $ | (249) |
Prior service cost | — |  |  | (1) |
Unrealized gains (losses) on available-for-sale investments | 2 |  |  | (3) |
Cash flow hedge derivative instruments | — |  |  | (1) |
Total | $ | (205) |  |  | $ | (254) |
Amounts reclassified out of accumulated other comprehensive income (loss), net of taxes, to net income | The table below details where these transactions are recorded in our Consolidated Statements of Income.
|  | For Years Ended December 31, |  | Impact to Related Statement of Income Lines
|  | 2023 |  | 2022 |  | 2021 |
Net actuarial losses of defined benefit plans: |  |  |  |  |  |  |  |
Recognized net actuarial loss and settlement losses (a) |  | $ | 20 |  |  | $ | 78 |  |  | $ | 37 |  |  | Decrease to OI&E
Tax effect |  | (5) |  |  | (17) |  |  | (8) |  |  | Decrease to provision for income taxes
Recognized within net income, net of taxes |  | $ | 15 |  |  | $ | 61 |  |  | $ | 29 |  |  | Decrease to net income
Prior service cost (credit) of defined benefit plans: |  |  |  |  |  |  |  |
Amortization of prior service cost (credit) (a) |  | $ | 1 |  |  | $ | (1) |  |  | $ | (1) |  |  | Decrease (increase) to OI&E
Tax effect |  | — |  |  | — |  |  | — |  |  | (Decrease) increase to provision for income taxes
Recognized within net income, net of taxes |  | $ | 1 |  |  | $ | (1) |  |  | $ | (1) |  |  | Decrease (increase) to net income
(a)Detailed in Note 7

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