XML 24 R10.htm IDEA: XBRL DOCUMENT
v3.25.3

REVENUE | 9 Months Ended
--- | ---
Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Revenue Recognition Products Substantially all of Qnity’s revenue is derived from product sales. Product sales consist of sales of Qnity’s products to supply manufacturers and distributors. Qnity considers purchase orders, which in some cases are governed by master supply agreements, to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year. Net sales to Samsung Electronics Co., Ltd accounted for 11% of total net sales for each of the three months ended September 30, 2025 and 2024, and 10% and 11% of total net sales for the nine months ended September 30, 2025 and 2024, respectively. Additionally, net sales to Taiwan Semiconductor Manufacturing Company Limited (TSMC) accounted for 8% and 7% of total net sales for the three months ended September 30, 2025 and 2024, respectively, and 8% and 7% of total net sales for the nine months ended September 30, 2025 and 2024, respectively. The majority of revenues for both customers relate to the Semiconductor Technologies segment. See Note 16 for more information. Disaggregation of Revenue The Company disaggregates its revenue from contracts with customers by segment and geographic region, as the Company believes it best depicts the nature, amount, timing and uncertainty of its revenue and cash flows.
Net Sales by Segment | Three Months Ended September 30, | Nine Months Ended September 30,
In millions | 2025 | 2024 | 2025 | 2024
Semiconductor Technologies | $ | 693 |  | $ | 640 |  | $ | 1,981 |  | $ | 1,834 |
Interconnect Solutions | 583 |  | 508 |  | 1,583 |  | 1,400 |
Total | $ | 1,276 |  | $ | 1,148 |  | $ | 3,564 |  | $ | 3,234 |
Net Sales by Segment by Geographic Region | Three Months Ended September 30,
2025 | 2024
Semiconductor Technologies | Interconnect Solutions | Total | Semiconductor Technologies | Interconnect Solutions | Total
In millions
Americas: | $ | 78 |  | $ | 90 |  | $ | 168 |  | $ | 71 |  | $ | 70 |  | $ | 141 |
United States | 77 |  | 81 |  | 158 |  | 70 |  | 62 |  | 132 |
Other Americas 1 | 1 |  | 9 |  | 10 |  | 1 |  | 8 |  | 9 |
EMEA 2 | 57 |  | 49 |  | 106 |  | 48 |  | 39 |  | 87 |
Asia Pacific: | 558 |  | 444 |  | 1,002 |  | 521 |  | 399 |  | 920 |
China 3 | 171 |  | 226 |  | 397 |  | 173 |  | 224 |  | 397 |
Rest of Asia Pacific: | 387 |  | 218 |  | 605 |  | 348 |  | 175 |  | 523 |
South Korea | 166 |  | 30 |  | 196 |  | 157 |  | 28 |  | 185 |
Taiwan | 142 |  | 54 |  | 196 |  | 121 |  | 34 |  | 155 |
Other | 79 |  | 134 |  | 213 |  | 70 |  | 113 |  | 183 |
Total | $ | 693 |  | $ | 583 |  | $ | 1,276 |  | $ | 640 |  | $ | 508 |  | $ | 1,148 |
Net Sales by Segment by Geographic Region | Nine Months Ended September 30,
2025 | 2024
Semiconductor Technologies | Interconnect Solutions | Total | Semiconductor Technologies | Interconnect Solutions | Total
In millions
Americas: | $ | 220 |  | $ | 252 |  | $ | 472 |  | $ | 203 |  | $ | 208 |  | $ | 411 |
United States | 218 |  | 227 |  | 445 |  | 201 |  | 188 |  | 389 |
Other Americas 1 | 2 |  | 25 |  | 27 |  | 2 |  | 20 |  | 22 |
EMEA 2 | 157 |  | 136 |  | 293 |  | 150 |  | 122 |  | 272 |
Asia Pacific: | 1,604 |  | 1,195 |  | 2,799 |  | 1,481 |  | 1,070 |  | 2,551 |
China 3 | 545 |  | 636 |  | 1,181 |  | 489 |  | 600 |  | 1,089 |
Rest of Asia Pacific: | 1,059 |  | 559 |  | 1,618 |  | 992 |  | 470 |  | 1,462 |
South Korea | 453 |  | 80 |  | 533 |  | 453 |  | 77 |  | 530 |
Taiwan | 397 |  | 133 |  | 530 |  | 340 |  | 103 |  | 443 |
Other | 209 |  | 346 |  | 555 |  | 199 |  | 290 |  | 489 |
Total | $ | 1,981 |  | $ | 1,583 |  | $ | 3,564 |  | $ | 1,834 |  | $ | 1,400 |  | $ | 3,234 |
1.Includes Canada and Latin America. 2.Europe, Middle East and Africa. 3.Includes Hong Kong. Contract Balances From time to time, the Company enters into arrangements in which it receives payments from customers based upon contractual billing schedules. The Company records accounts receivables when the right to consideration becomes unconditional. Contract liabilities primarily reflect deferred revenue from advance payment for product that the Company has received from customers. The Company classifies deferred revenue as current or noncurrent based on the timing of when the Company expects to recognize revenue. Revenue recognized from amounts included in contract liabilities at the beginning of the period were insignificant for the three and nine months ended September 30, 2025 and 2024. The Company did not recognize any asset impairment charges related to contract assets during the periods. Qnity expects to recognize its noncurrent deferred revenue over a seven-year period beginning in fiscal year 2027.
Contract Balances | September 30, 2025 | December 31, 2024
In millions
Accounts receivable - trade 1 | $ | 688 |  | $ | 580 |
Deferred revenue - current 2 | $ | 1 |  | $ | 1 |
Deferred revenue - noncurrent 3 | $ | 35 |  | $ | 35 |
1.Included in "Accounts and notes receivable - net" in the interim Condensed Combined Balance Sheets. 2.Included in "Accrued and other current liabilities" in the interim Condensed Combined Balance Sheets. 3.Included in "Other noncurrent obligations" in the interim Condensed Combined Balance Sheets.

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

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration