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INCOME TAXES | 6 Months Ended
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Jun. 30, 2023
Income taxes [Abstract] |
Income Taxes | Income taxes For tax reporting purposes, the Company consolidates its entities under GLOBALFOUNDRIES Inc., a Cayman Islands entity. As a Cayman Islands corporation, the Company’s domestic statutory income tax rate is 0.0%. The difference between the Company’s domestic statutory income tax rate and its effective income tax rate reflected in the income tax benefit or income tax expense is primarily due to the effect of the tax rates and permanent differences in the other jurisdictions in which the Company operates. The effective tax rate for the six months ended June 30, 2023 and 2022 was 9.4% and 11.8%, respectively. The decrease for the six months ended June 30, 2023 compared to the prior year was primarily due to an improved mix of income in certain jurisdictions, partially offset by additional withholding tax expense accrued in the United States.

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- Definition Income taxes [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=12&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2023-03-23 + Details
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