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NET REVENUE | 6 Months Ended
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Jun. 30, 2023
Revenue from Contracts with Customers [Abstract] |
Net Revenue | Net Revenue The following table presents the Company’s revenue disaggregated based on revenue source and timing of revenue recognition for the three and six month periods ended June 30, 2023 and 2022. The Company believes these categories best depict the nature and timing of revenue:
(in millions) | Three Months Ended June 30, |  | Six Months Ended June 30,
2023 |  | 2022 |  | 2023 |  | 2022
Type of goods and services: |  |  |  |  |  |  |
Wafer fabrication | $ | 1,727 |  |  | $ | 1,884 |  |  | $ | 3,407 |  |  | $ | 3,709 |
Engineering and other pre-fabrication services | 118 |  |  | 109 |  |  | 279 |  |  | 224 |
| $ | 1,845 |  |  | $ | 1,993 |  |  | $ | 3,686 |  |  | $ | 3,933 |
Timing of revenue recognition: |  |  |  |  |  |  |
Revenue recognized over time | $ | 108 |  |  | $ | 106 |  |  | $ | 215 |  |  | $ | 233 |
Revenue recognized at a point in time | 1,737 |  |  | 1,887 |  |  | 3,471 |  |  | 3,700 |
| $ | 1,845 |  |  | $ | 1,993 |  |  | $ | 3,686 |  |  | $ | 3,933 |

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- Definition The entire disclosure for revenue from contracts with customers. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 15 -IssueDate 2023-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=15&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS15_g105-109_TI -URIDate 2023-03-23 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 15 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=15&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS15_g110-129_TI -URIDate 2023-03-23 + Details
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