XML 48 R30.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Other Income and Expenses, Net | 12 Months Ended
--- | ---
Dec. 31, 2023
Other Income and Expenses [Abstract] |
Other Income and Expenses, Net | OTHER INCOME AND EXPENSES, NET Other income and expenses, net consisted of the following:
|  | Year ended December 31, 2023 |  | Year ended December 31, 2022 |  | Year ended December 31, 2021
Public funding |  | 201 |  |  | 177 |  |  | 162 |
Start-up and phase-out costs |  | (134) |  |  | (13) |  |  | — |
Exchange gain (loss), net |  | 5 |  |  | 15 |  |  | 7 |
Patent costs |  | (12) |  |  | (8) |  |  | (10) |
Gain on sale of non-current assets |  | 6 |  |  | 2 |  |  | 5 |
COVID-19 incremental costs |  | — |  |  | (10) |  |  | (19) |
Other, net |  | (11) |  |  | (4) |  |  | (4) |
Total |  | 55 |  |  | 159 |  |  | 141 |
The Company receives public funding from governmental bodies in several jurisdictions. Public funding is further described in Note 7. Start-up costs represent costs incurred in the ramp-up phase of the Company’s newly integrated manufacturing facilities, primarily for the new 300mm fab in Agrate, Italy. Phase-out costs are costs incurred during the closing stage of a Company’s manufacturing facility. Exchange gains and losses, net represent the portion of exchange rate changes on transactions denominated in currencies other than a subsidiary’s functional currency and the changes in fair value of derivative instruments which are not designated as hedges, as described in Note 26. Patent costs mainly include legal and attorney fees and payment for claims, patent pre-litigation consultancy and legal fees. They are reported net of settlements, if any, which primarily include reimbursements of prior patent litigation costs. COVID-19 incremental costs were mainly composed of incremental expenses primarily related to sanitary measures undertaken to protect employees. Starting January 1, 2023, the Company no longer reports Covid-19 related expenses as a component of the line “Other income and expenses, net” in the consolidated statement of income.

X
- References No definition available. + Details
Name: | us-gaap_OtherIncomeAndExpensesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 610 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//610/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//720/tableOfContent + Details
Name: | us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration