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NET REVENUE
 6 Months Ended
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,
2023202220232022
Type of goods and services:
Wafer fabrication$1,727 $1,884 $3,407 $3,709 
Engineering and other pre-fabrication services118 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 time1,737 1,887 3,471 3,700 
$1,845 $1,993 $3,686 $3,933