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International sales entail a variety of risks, including currency exchange fluctuations, longer payment cycles, and greater difficulty in accounts receivable collection. We are also subject to general geopolitical risks, such as political, social and economic instability, and changes in diplomatic and trade relations. The risks of international sales are mitigated in part by the extent to which sales are geographically distributed. Shipments to customers outside the United States comprised 48 %, 48 %, and 50 % of total consolidated revenue in 2024, 2023, and 2022, respectively. Customers outside the United States represented 53 % and 55 % of our gross trade accounts receivable balance as of December 29, 2024 and December 31, 2023, respectively. | text | 55 | percentItemType | text: <entity> 55 </entity> <entity type> percentItemType </entity type> <context> International sales entail a variety of risks, including currency exchange fluctuations, longer payment cycles, and greater difficulty in accounts receivable collection. We are also subject to general geopolitical risks, such as political, social and economic instability, and changes in diplomatic and trade relations. The risks of international sales are mitigated in part by the extent to which sales are geographically distributed. Shipments to customers outside the United States comprised 48 %, 48 %, and 50 % of total consolidated revenue in 2024, 2023, and 2022, respectively. Customers outside the United States represented 53 % and 55 % of our gross trade accounts receivable balance as of December 29, 2024 and December 31, 2023, respectively. </context> | us-gaap:ConcentrationRiskPercentage1 |
. The new standard reduces the number of accounting models for convertible debt instruments, amends the accounting for certain contracts in an entity’s own equity, and modifies how certain convertible instruments and contracts that may be settled in cash or shares impact the calculation of diluted earnings per share. Specifically, the guidance removes certain accounting models that separate the embedded conversion features from the host contract for convertible instruments and requires the use of the if-converted method to calculate diluted earnings per share. We adopted the standard on its effective date in the first quarter of 2022 using a modified retrospective approach by recognizing a cumulative-effect adjustment to retained earnings on January 3, 2022. As a result of the adoption of ASU 2020-06, we increased retained earnings and decreased additional paid-in capital by $ 61 million and $ 93 million, respectively. | text | 61 | monetaryItemType | text: <entity> 61 </entity> <entity type> monetaryItemType </entity type> <context> . The new standard reduces the number of accounting models for convertible debt instruments, amends the accounting for certain contracts in an entity’s own equity, and modifies how certain convertible instruments and contracts that may be settled in cash or shares impact the calculation of diluted earnings per share. Specifically, the guidance removes certain accounting models that separate the embedded conversion features from the host contract for convertible instruments and requires the use of the if-converted method to calculate diluted earnings per share. We adopted the standard on its effective date in the first quarter of 2022 using a modified retrospective approach by recognizing a cumulative-effect adjustment to retained earnings on January 3, 2022. As a result of the adoption of ASU 2020-06, we increased retained earnings and decreased additional paid-in capital by $ 61 million and $ 93 million, respectively. </context> | us-gaap:RetainedEarningsAccumulatedDeficit |
. The new standard reduces the number of accounting models for convertible debt instruments, amends the accounting for certain contracts in an entity’s own equity, and modifies how certain convertible instruments and contracts that may be settled in cash or shares impact the calculation of diluted earnings per share. Specifically, the guidance removes certain accounting models that separate the embedded conversion features from the host contract for convertible instruments and requires the use of the if-converted method to calculate diluted earnings per share. We adopted the standard on its effective date in the first quarter of 2022 using a modified retrospective approach by recognizing a cumulative-effect adjustment to retained earnings on January 3, 2022. As a result of the adoption of ASU 2020-06, we increased retained earnings and decreased additional paid-in capital by $ 61 million and $ 93 million, respectively. | text | 93 | monetaryItemType | text: <entity> 93 </entity> <entity type> monetaryItemType </entity type> <context> . The new standard reduces the number of accounting models for convertible debt instruments, amends the accounting for certain contracts in an entity’s own equity, and modifies how certain convertible instruments and contracts that may be settled in cash or shares impact the calculation of diluted earnings per share. Specifically, the guidance removes certain accounting models that separate the embedded conversion features from the host contract for convertible instruments and requires the use of the if-converted method to calculate diluted earnings per share. We adopted the standard on its effective date in the first quarter of 2022 using a modified retrospective approach by recognizing a cumulative-effect adjustment to retained earnings on January 3, 2022. As a result of the adoption of ASU 2020-06, we increased retained earnings and decreased additional paid-in capital by $ 61 million and $ 93 million, respectively. </context> | us-gaap:AdditionalPaidInCapital |
We use foreign exchange forward contracts to manage foreign currency risks related to monetary assets and liabilities denominated in currencies other than the U.S. dollar. These derivative financial instruments have terms of one month or less and are not designated as hedging instruments. Changes in fair value of these derivatives are recognized in other expense, net, along with the re-measurement gain or loss on the foreign currency denominated assets or liabilities. As of December 29, 2024, we had foreign exchange forward contracts in place to hedge exposures in the euro, Japanese yen, Australian dollar, Canadian dollar, Singapore dollar, Chinese Yuan Renminbi, and British pound. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding forward contracts in place for these foreign currency purchases were $ 477 million and $ 926 million, respectively. In September 2024, as a result of the European Commission withdrawing its previously imposed fine, the related forward contracts we previously entered into for a total notional amount of € 432 million were terminated. | text | 477 | monetaryItemType | text: <entity> 477 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign exchange forward contracts to manage foreign currency risks related to monetary assets and liabilities denominated in currencies other than the U.S. dollar. These derivative financial instruments have terms of one month or less and are not designated as hedging instruments. Changes in fair value of these derivatives are recognized in other expense, net, along with the re-measurement gain or loss on the foreign currency denominated assets or liabilities. As of December 29, 2024, we had foreign exchange forward contracts in place to hedge exposures in the euro, Japanese yen, Australian dollar, Canadian dollar, Singapore dollar, Chinese Yuan Renminbi, and British pound. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding forward contracts in place for these foreign currency purchases were $ 477 million and $ 926 million, respectively. In September 2024, as a result of the European Commission withdrawing its previously imposed fine, the related forward contracts we previously entered into for a total notional amount of € 432 million were terminated. </context> | us-gaap:DerivativeNotionalAmount |
We use foreign exchange forward contracts to manage foreign currency risks related to monetary assets and liabilities denominated in currencies other than the U.S. dollar. These derivative financial instruments have terms of one month or less and are not designated as hedging instruments. Changes in fair value of these derivatives are recognized in other expense, net, along with the re-measurement gain or loss on the foreign currency denominated assets or liabilities. As of December 29, 2024, we had foreign exchange forward contracts in place to hedge exposures in the euro, Japanese yen, Australian dollar, Canadian dollar, Singapore dollar, Chinese Yuan Renminbi, and British pound. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding forward contracts in place for these foreign currency purchases were $ 477 million and $ 926 million, respectively. In September 2024, as a result of the European Commission withdrawing its previously imposed fine, the related forward contracts we previously entered into for a total notional amount of € 432 million were terminated. | text | 926 | monetaryItemType | text: <entity> 926 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign exchange forward contracts to manage foreign currency risks related to monetary assets and liabilities denominated in currencies other than the U.S. dollar. These derivative financial instruments have terms of one month or less and are not designated as hedging instruments. Changes in fair value of these derivatives are recognized in other expense, net, along with the re-measurement gain or loss on the foreign currency denominated assets or liabilities. As of December 29, 2024, we had foreign exchange forward contracts in place to hedge exposures in the euro, Japanese yen, Australian dollar, Canadian dollar, Singapore dollar, Chinese Yuan Renminbi, and British pound. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding forward contracts in place for these foreign currency purchases were $ 477 million and $ 926 million, respectively. In September 2024, as a result of the European Commission withdrawing its previously imposed fine, the related forward contracts we previously entered into for a total notional amount of € 432 million were terminated. </context> | us-gaap:DerivativeNotionalAmount |
We use foreign exchange forward contracts to manage foreign currency risks related to monetary assets and liabilities denominated in currencies other than the U.S. dollar. These derivative financial instruments have terms of one month or less and are not designated as hedging instruments. Changes in fair value of these derivatives are recognized in other expense, net, along with the re-measurement gain or loss on the foreign currency denominated assets or liabilities. As of December 29, 2024, we had foreign exchange forward contracts in place to hedge exposures in the euro, Japanese yen, Australian dollar, Canadian dollar, Singapore dollar, Chinese Yuan Renminbi, and British pound. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding forward contracts in place for these foreign currency purchases were $ 477 million and $ 926 million, respectively. In September 2024, as a result of the European Commission withdrawing its previously imposed fine, the related forward contracts we previously entered into for a total notional amount of € 432 million were terminated. | text | 432 | monetaryItemType | text: <entity> 432 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign exchange forward contracts to manage foreign currency risks related to monetary assets and liabilities denominated in currencies other than the U.S. dollar. These derivative financial instruments have terms of one month or less and are not designated as hedging instruments. Changes in fair value of these derivatives are recognized in other expense, net, along with the re-measurement gain or loss on the foreign currency denominated assets or liabilities. As of December 29, 2024, we had foreign exchange forward contracts in place to hedge exposures in the euro, Japanese yen, Australian dollar, Canadian dollar, Singapore dollar, Chinese Yuan Renminbi, and British pound. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding forward contracts in place for these foreign currency purchases were $ 477 million and $ 926 million, respectively. In September 2024, as a result of the European Commission withdrawing its previously imposed fine, the related forward contracts we previously entered into for a total notional amount of € 432 million were terminated. </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 621 | monetaryItemType | text: <entity> 621 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:DerivativeNotionalAmount |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 628 | monetaryItemType | text: <entity> 628 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:DerivativeNotionalAmount |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 53 | monetaryItemType | text: <entity> 53 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:DerivativeAssets |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:DerivativeAssets |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:DerivativeLiabilities |
We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> We use foreign currency forward contracts to hedge portions of our foreign currency exposure associated with forecasted revenue transactions. These derivative financial instruments have terms up to 24 months and are designated as cash flow hedges. Changes in fair value are recorded as a component of accumulated other comprehensive income (loss) and are reclassified to revenue in the same period the underlying hedged transactions are recorded. We regularly review the effectiveness of our cash flow hedges and consider them to be ineffective if it becomes probable that the forecasted transactions will not occur in the identified period. Changes in fair value of the ineffective portions of our cash flow hedges, if any, are recognized in other expense, net. As of December 29, 2024, we had foreign currency forward contracts in place to hedge exposures associated with forecasted revenue transactions denominated in the euro, Japanese yen, Australian dollar, Canadian dollar, and Chinese Yuan Renminbi. As of December 29, 2024 and December 31, 2023, the total notional amounts of outstanding cash flow hedge contracts in place for these foreign currency purchases were $ 621 million and $ 628 million, respectively. We reclassified $ 15 million, $ 18 million, and $ 53 million to revenue in 2024, 2023, and 2022, respectively. As of December 29, 2024, the fair value of foreign currency forward contracts was $ 27 million, recorded in total assets. As of December 31, 2023, the fair value of foreign currency forward contracts recorded in total assets and total liabilities was $ 5 million and $ 9 million, respectively. Estimated gains reported in accumulated other comprehensive income (loss) expected to be reclassified into earnings within the next 12 months are $ 27 million as of December 29, 2024. </context> | us-gaap:CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths |
The Black-Scholes-Merton option-pricing model is used to estimate the fair value of stock purchased under our ESPP and stock options granted. The model assumptions include expected volatility, term, dividends, and the risk-free interest rate. The expected volatility is generally determined by weighing the historical and implied volatility of our common stock. The historical volatility is generally commensurate with the estimated expected term. The implied volatility is calculated from the implied market volatility of exchange-traded call options on our common stock. The expected term is generally based on historical forfeiture experience, exercise activity, and on the terms and conditions of the stock awards. The expected dividend yield is determined to be 0 % given that we have never declared or paid cash dividends on our common stock and do not anticipate paying such cash dividends. The risk-free interest rate is based upon U.S. Treasury securities with remaining terms similar to the expected term of the share-based awards. | text | 0 | percentItemType | text: <entity> 0 </entity> <entity type> percentItemType </entity type> <context> The Black-Scholes-Merton option-pricing model is used to estimate the fair value of stock purchased under our ESPP and stock options granted. The model assumptions include expected volatility, term, dividends, and the risk-free interest rate. The expected volatility is generally determined by weighing the historical and implied volatility of our common stock. The historical volatility is generally commensurate with the estimated expected term. The implied volatility is calculated from the implied market volatility of exchange-traded call options on our common stock. The expected term is generally based on historical forfeiture experience, exercise activity, and on the terms and conditions of the stock awards. The expected dividend yield is determined to be 0 % given that we have never declared or paid cash dividends on our common stock and do not anticipate paying such cash dividends. The risk-free interest rate is based upon U.S. Treasury securities with remaining terms similar to the expected term of the share-based awards. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate |
Advertising costs are expensed as incurred and were $ 37 million, $ 36 million, and $ 53 million in 2024, 2023, and 2022, respectively. | text | 37 | monetaryItemType | text: <entity> 37 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred and were $ 37 million, $ 36 million, and $ 53 million in 2024, 2023, and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
Advertising costs are expensed as incurred and were $ 37 million, $ 36 million, and $ 53 million in 2024, 2023, and 2022, respectively. | text | 36 | monetaryItemType | text: <entity> 36 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred and were $ 37 million, $ 36 million, and $ 53 million in 2024, 2023, and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
Advertising costs are expensed as incurred and were $ 37 million, $ 36 million, and $ 53 million in 2024, 2023, and 2022, respectively. | text | 53 | monetaryItemType | text: <entity> 53 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are expensed as incurred and were $ 37 million, $ 36 million, and $ 53 million in 2024, 2023, and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
On June 24, 2024, we completed the Spin-Off of GRAIL into a separate, independent publicly traded company through the distribution of 26,547,021 shares of GRAIL common stock to Illumina stockholders on a pro rata basis. The GRAIL common stock distributed in the Spin-Off consisted of approximately 85.5 % of the outstanding common stock of GRAIL as of the Record Date. The Spin-Off was structured as a tax-free spin-off and Illumina stockholders received one share of GRAIL common stock for every six shares of Illumina common stock held on the Record Date. We retained approximately 14.5 % of the shares of GRAIL common stock immediately following the Spin-Off. The disposition of GRAIL did not meet the criteria to be reported as a discontinued operation and accordingly, GRAIL’s assets, liabilities, results of operations and cash flows have not been reclassified. | text | 14.5 | percentItemType | text: <entity> 14.5 </entity> <entity type> percentItemType </entity type> <context> On June 24, 2024, we completed the Spin-Off of GRAIL into a separate, independent publicly traded company through the distribution of 26,547,021 shares of GRAIL common stock to Illumina stockholders on a pro rata basis. The GRAIL common stock distributed in the Spin-Off consisted of approximately 85.5 % of the outstanding common stock of GRAIL as of the Record Date. The Spin-Off was structured as a tax-free spin-off and Illumina stockholders received one share of GRAIL common stock for every six shares of Illumina common stock held on the Record Date. We retained approximately 14.5 % of the shares of GRAIL common stock immediately following the Spin-Off. The disposition of GRAIL did not meet the criteria to be reported as a discontinued operation and accordingly, GRAIL’s assets, liabilities, results of operations and cash flows have not been reclassified. </context> | us-gaap:DiscontinuedOperationEquityMethodInvestmentRetainedAfterDisposalOwnershipInterestAfterDisposal |
As part of the Spin-Off, we contributed to GRAIL an amount, in cash, to cover 2.5 years of GRAIL’s operations (the Disposal Funding), which was determined to be $ 974 million, less the cash and cash equivalents held by GRAIL. | text | 974 | monetaryItemType | text: <entity> 974 </entity> <entity type> monetaryItemType </entity type> <context> As part of the Spin-Off, we contributed to GRAIL an amount, in cash, to cover 2.5 years of GRAIL’s operations (the Disposal Funding), which was determined to be $ 974 million, less the cash and cash equivalents held by GRAIL. </context> | us-gaap:DiscontinuedOperationAmountOfContinuingCashFlowsAfterDisposal |
Includes IPR&D with a carrying value of $ 140 million after impairment. Refer to note | text | 140 | monetaryItemType | text: <entity> 140 </entity> <entity type> monetaryItemType </entity type> <context> Includes IPR&D with a carrying value of $ 140 million after impairment. Refer to note </context> | us-gaap:DisposalGroupIncludingDiscontinuedOperationIntangibleAssets |
Americas revenue included United States revenue of $ 2,288 million, $ 2,359 million, and $ 2,290 million in 2024, 2023 and 2022, respectively. | text | 2288 | monetaryItemType | text: <entity> 2288 </entity> <entity type> monetaryItemType </entity type> <context> Americas revenue included United States revenue of $ 2,288 million, $ 2,359 million, and $ 2,290 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Americas revenue included United States revenue of $ 2,288 million, $ 2,359 million, and $ 2,290 million in 2024, 2023 and 2022, respectively. | text | 2359 | monetaryItemType | text: <entity> 2359 </entity> <entity type> monetaryItemType </entity type> <context> Americas revenue included United States revenue of $ 2,288 million, $ 2,359 million, and $ 2,290 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Americas revenue included United States revenue of $ 2,288 million, $ 2,359 million, and $ 2,290 million in 2024, 2023 and 2022, respectively. | text | 2290 | monetaryItemType | text: <entity> 2290 </entity> <entity type> monetaryItemType </entity type> <context> Americas revenue included United States revenue of $ 2,288 million, $ 2,359 million, and $ 2,290 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
We regularly enter into contracts with multiple performance obligations. These contracts are believed to be firm as of the balance sheet date. However, we may allow customers to make product substitutions as we launch new products. The timing of shipments depends on several factors, including agreed upon shipping schedules, which may span multiple quarters. Most performance obligations are generally satisfied within a short time frame, approximately three to six months , after the contract execution date. As of December 29, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 657 million, of which approximately 78 % is expected to be converted to revenue in 2025, approximately 10 % in the following twelve months , and the remainder thereafter. | text | 657 | monetaryItemType | text: <entity> 657 </entity> <entity type> monetaryItemType </entity type> <context> We regularly enter into contracts with multiple performance obligations. These contracts are believed to be firm as of the balance sheet date. However, we may allow customers to make product substitutions as we launch new products. The timing of shipments depends on several factors, including agreed upon shipping schedules, which may span multiple quarters. Most performance obligations are generally satisfied within a short time frame, approximately three to six months , after the contract execution date. As of December 29, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 657 million, of which approximately 78 % is expected to be converted to revenue in 2025, approximately 10 % in the following twelve months , and the remainder thereafter. </context> | us-gaap:RevenueRemainingPerformanceObligation |
We regularly enter into contracts with multiple performance obligations. These contracts are believed to be firm as of the balance sheet date. However, we may allow customers to make product substitutions as we launch new products. The timing of shipments depends on several factors, including agreed upon shipping schedules, which may span multiple quarters. Most performance obligations are generally satisfied within a short time frame, approximately three to six months , after the contract execution date. As of December 29, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 657 million, of which approximately 78 % is expected to be converted to revenue in 2025, approximately 10 % in the following twelve months , and the remainder thereafter. | text | 78 | percentItemType | text: <entity> 78 </entity> <entity type> percentItemType </entity type> <context> We regularly enter into contracts with multiple performance obligations. These contracts are believed to be firm as of the balance sheet date. However, we may allow customers to make product substitutions as we launch new products. The timing of shipments depends on several factors, including agreed upon shipping schedules, which may span multiple quarters. Most performance obligations are generally satisfied within a short time frame, approximately three to six months , after the contract execution date. As of December 29, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 657 million, of which approximately 78 % is expected to be converted to revenue in 2025, approximately 10 % in the following twelve months , and the remainder thereafter. </context> | us-gaap:RevenueRemainingPerformanceObligationPercentage |
We regularly enter into contracts with multiple performance obligations. These contracts are believed to be firm as of the balance sheet date. However, we may allow customers to make product substitutions as we launch new products. The timing of shipments depends on several factors, including agreed upon shipping schedules, which may span multiple quarters. Most performance obligations are generally satisfied within a short time frame, approximately three to six months , after the contract execution date. As of December 29, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 657 million, of which approximately 78 % is expected to be converted to revenue in 2025, approximately 10 % in the following twelve months , and the remainder thereafter. | text | 10 | percentItemType | text: <entity> 10 </entity> <entity type> percentItemType </entity type> <context> We regularly enter into contracts with multiple performance obligations. These contracts are believed to be firm as of the balance sheet date. However, we may allow customers to make product substitutions as we launch new products. The timing of shipments depends on several factors, including agreed upon shipping schedules, which may span multiple quarters. Most performance obligations are generally satisfied within a short time frame, approximately three to six months , after the contract execution date. As of December 29, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $ 657 million, of which approximately 78 % is expected to be converted to revenue in 2025, approximately 10 % in the following twelve months , and the remainder thereafter. </context> | us-gaap:RevenueRemainingPerformanceObligationPercentage |
Contract assets, which consist of revenue recognized and performance obligations satisfied or partially satisfied in advance of customer billing, as of December 29, 2024 and December 31, 2023, were $ 16 million and $ 18 million, respectively, all of which were short-term and recorded in prepaid expenses and other current assets. | text | 16 | monetaryItemType | text: <entity> 16 </entity> <entity type> monetaryItemType </entity type> <context> Contract assets, which consist of revenue recognized and performance obligations satisfied or partially satisfied in advance of customer billing, as of December 29, 2024 and December 31, 2023, were $ 16 million and $ 18 million, respectively, all of which were short-term and recorded in prepaid expenses and other current assets. </context> | us-gaap:ContractWithCustomerAssetNet |
Contract assets, which consist of revenue recognized and performance obligations satisfied or partially satisfied in advance of customer billing, as of December 29, 2024 and December 31, 2023, were $ 16 million and $ 18 million, respectively, all of which were short-term and recorded in prepaid expenses and other current assets. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> Contract assets, which consist of revenue recognized and performance obligations satisfied or partially satisfied in advance of customer billing, as of December 29, 2024 and December 31, 2023, were $ 16 million and $ 18 million, respectively, all of which were short-term and recorded in prepaid expenses and other current assets. </context> | us-gaap:ContractWithCustomerAssetNet |
Our short-term investments consist of marketable equity securities. As of December 29, 2024 and December 31, 2023, the fair value of our marketable equity securities totaled $ 93 million and $ 6 million, respectively. The increase in our marketable equity securities relates to the investment we retained in GRAIL subsequent to the Spin-Off, which was initially recorded as $ 397 million, representing 14.5 % of GRAIL’s net assets disposed of at Spin-Off. Refer to note | text | 93 | monetaryItemType | text: <entity> 93 </entity> <entity type> monetaryItemType </entity type> <context> Our short-term investments consist of marketable equity securities. As of December 29, 2024 and December 31, 2023, the fair value of our marketable equity securities totaled $ 93 million and $ 6 million, respectively. The increase in our marketable equity securities relates to the investment we retained in GRAIL subsequent to the Spin-Off, which was initially recorded as $ 397 million, representing 14.5 % of GRAIL’s net assets disposed of at Spin-Off. Refer to note </context> | us-gaap:ShortTermInvestments |
Our short-term investments consist of marketable equity securities. As of December 29, 2024 and December 31, 2023, the fair value of our marketable equity securities totaled $ 93 million and $ 6 million, respectively. The increase in our marketable equity securities relates to the investment we retained in GRAIL subsequent to the Spin-Off, which was initially recorded as $ 397 million, representing 14.5 % of GRAIL’s net assets disposed of at Spin-Off. Refer to note | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> Our short-term investments consist of marketable equity securities. As of December 29, 2024 and December 31, 2023, the fair value of our marketable equity securities totaled $ 93 million and $ 6 million, respectively. The increase in our marketable equity securities relates to the investment we retained in GRAIL subsequent to the Spin-Off, which was initially recorded as $ 397 million, representing 14.5 % of GRAIL’s net assets disposed of at Spin-Off. Refer to note </context> | us-gaap:ShortTermInvestments |
Our short-term investments consist of marketable equity securities. As of December 29, 2024 and December 31, 2023, the fair value of our marketable equity securities totaled $ 93 million and $ 6 million, respectively. The increase in our marketable equity securities relates to the investment we retained in GRAIL subsequent to the Spin-Off, which was initially recorded as $ 397 million, representing 14.5 % of GRAIL’s net assets disposed of at Spin-Off. Refer to note | text | 14.5 | percentItemType | text: <entity> 14.5 </entity> <entity type> percentItemType </entity type> <context> Our short-term investments consist of marketable equity securities. As of December 29, 2024 and December 31, 2023, the fair value of our marketable equity securities totaled $ 93 million and $ 6 million, respectively. The increase in our marketable equity securities relates to the investment we retained in GRAIL subsequent to the Spin-Off, which was initially recorded as $ 397 million, representing 14.5 % of GRAIL’s net assets disposed of at Spin-Off. Refer to note </context> | us-gaap:DiscontinuedOperationEquityMethodInvestmentRetainedAfterDisposalOwnershipInterestAfterDisposal |
for details. We recorded an unrealized loss of $ 309 million in 2024, subsequent to the Spin-Off, based on the fair value of our investment in GRAIL as of December 29, 2024. | text | 309 | monetaryItemType | text: <entity> 309 </entity> <entity type> monetaryItemType </entity type> <context> for details. We recorded an unrealized loss of $ 309 million in 2024, subsequent to the Spin-Off, based on the fair value of our investment in GRAIL as of December 29, 2024. </context> | us-gaap:DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax |
As of December 29, 2024 and December 31, 2023, non-marketable equity securities, without readily determinable fair values, included in other assets, were $ 26 million and $ 28 million, respectively. | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> As of December 29, 2024 and December 31, 2023, non-marketable equity securities, without readily determinable fair values, included in other assets, were $ 26 million and $ 28 million, respectively. </context> | us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueAmount |
As of December 29, 2024 and December 31, 2023, non-marketable equity securities, without readily determinable fair values, included in other assets, were $ 26 million and $ 28 million, respectively. | text | 28 | monetaryItemType | text: <entity> 28 </entity> <entity type> monetaryItemType </entity type> <context> As of December 29, 2024 and December 31, 2023, non-marketable equity securities, without readily determinable fair values, included in other assets, were $ 26 million and $ 28 million, respectively. </context> | us-gaap:EquitySecuritiesWithoutReadilyDeterminableFairValueAmount |
We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. | text | 201 | monetaryItemType | text: <entity> 201 </entity> <entity type> monetaryItemType </entity type> <context> We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. </context> | us-gaap:EquityMethodInvestments |
We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. | text | 168 | monetaryItemType | text: <entity> 168 </entity> <entity type> monetaryItemType </entity type> <context> We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. </context> | us-gaap:EquityMethodInvestments |
We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. </context> | us-gaap:UnrealizedGainLossOnInvestments |
We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. | text | 33 | monetaryItemType | text: <entity> 33 </entity> <entity type> monetaryItemType </entity type> <context> We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. </context> | us-gaap:UnrealizedGainLossOnInvestments |
We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. | text | 25 | monetaryItemType | text: <entity> 25 </entity> <entity type> monetaryItemType </entity type> <context> We invest in three venture capital investment funds (the Funds), which are accounted for as equity-method investments. The aggregate carrying amount of the Funds, included in other assets, was $ 201 million and $ 168 million as of December 29, 2024 and December 31, 2023, respectively. We recorded a net gain of $ 5 million in 2024, and net losses of $ 33 million and $ 25 million in 2023 and 2022, respectively, in other expense, net. </context> | us-gaap:UnrealizedGainLossOnInvestments |
Revenue recognized from transactions with our strategic investees was $ 20 million, $ 69 million, and $ 113 million in 2024, 2023, and 2022, respectively. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> Revenue recognized from transactions with our strategic investees was $ 20 million, $ 69 million, and $ 113 million in 2024, 2023, and 2022, respectively. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Revenue recognized from transactions with our strategic investees was $ 20 million, $ 69 million, and $ 113 million in 2024, 2023, and 2022, respectively. | text | 69 | monetaryItemType | text: <entity> 69 </entity> <entity type> monetaryItemType </entity type> <context> Revenue recognized from transactions with our strategic investees was $ 20 million, $ 69 million, and $ 113 million in 2024, 2023, and 2022, respectively. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Revenue recognized from transactions with our strategic investees was $ 20 million, $ 69 million, and $ 113 million in 2024, 2023, and 2022, respectively. | text | 113 | monetaryItemType | text: <entity> 113 </entity> <entity type> monetaryItemType </entity type> <context> Revenue recognized from transactions with our strategic investees was $ 20 million, $ 69 million, and $ 113 million in 2024, 2023, and 2022, respectively. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
In conjunction with the deconsolidation of Helix Holdings I, LLC (Helix) in April 2019, we received a contingent value right with a 7-year term that entitled us to consideration dependent upon the outcome of Helix’s future financing and/or liquidity events. We elected the fair value option to measure the contingent value right received from Helix. Changes in the estimated fair value are recognized in other expense, net. We estimated the fair value of the contingent value right using a Monte Carlo simulation. Estimates and assumptions used in the Monte Carlo simulation included probabilities related to the timing and outcome of future financing and/or liquidity events, assumptions regarding collectability and volatility, and an estimated equity value of Helix. These unobservable inputs represented a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. On July 31, 2024, we received cash of $ 83 million to settle the contingent value right early. | text | 83 | monetaryItemType | text: <entity> 83 </entity> <entity type> monetaryItemType </entity type> <context> In conjunction with the deconsolidation of Helix Holdings I, LLC (Helix) in April 2019, we received a contingent value right with a 7-year term that entitled us to consideration dependent upon the outcome of Helix’s future financing and/or liquidity events. We elected the fair value option to measure the contingent value right received from Helix. Changes in the estimated fair value are recognized in other expense, net. We estimated the fair value of the contingent value right using a Monte Carlo simulation. Estimates and assumptions used in the Monte Carlo simulation included probabilities related to the timing and outcome of future financing and/or liquidity events, assumptions regarding collectability and volatility, and an estimated equity value of Helix. These unobservable inputs represented a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. On July 31, 2024, we received cash of $ 83 million to settle the contingent value right early. </context> | us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements |
, this will reflect a 2.5 % payment right to the first $ 1 billion of revenue each year for 12 years. Revenue above $ 1 billion each year will be subject to a 9 % contingent payment right during this same period. Covered Revenues for the periods Q4 2023 through Q3 2024, Q4 2022 through Q3 2023, and Q4 2021 through Q3 2022 were $ 117 million, $ 85 million, and $ 42 million, respectively, driven primarily by sales of GRAIL’s Galleri test. Covered Revenue Payments relating to such periods were $ 1.1 million, $ 803,000 , and $ 396,000 in 2024, 2023, and 2022, respectively. A portion of the Covered Revenue Payments in 2022 were applied to reimburse us for certain expenses. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> , this will reflect a 2.5 % payment right to the first $ 1 billion of revenue each year for 12 years. Revenue above $ 1 billion each year will be subject to a 9 % contingent payment right during this same period. Covered Revenues for the periods Q4 2023 through Q3 2024, Q4 2022 through Q3 2023, and Q4 2021 through Q3 2022 were $ 117 million, $ 85 million, and $ 42 million, respectively, driven primarily by sales of GRAIL’s Galleri test. Covered Revenue Payments relating to such periods were $ 1.1 million, $ 803,000 , and $ 396,000 in 2024, 2023, and 2022, respectively. A portion of the Covered Revenue Payments in 2022 were applied to reimburse us for certain expenses. </context> | us-gaap:PaymentForContingentConsiderationLiabilityOperatingActivities |
, this will reflect a 2.5 % payment right to the first $ 1 billion of revenue each year for 12 years. Revenue above $ 1 billion each year will be subject to a 9 % contingent payment right during this same period. Covered Revenues for the periods Q4 2023 through Q3 2024, Q4 2022 through Q3 2023, and Q4 2021 through Q3 2022 were $ 117 million, $ 85 million, and $ 42 million, respectively, driven primarily by sales of GRAIL’s Galleri test. Covered Revenue Payments relating to such periods were $ 1.1 million, $ 803,000 , and $ 396,000 in 2024, 2023, and 2022, respectively. A portion of the Covered Revenue Payments in 2022 were applied to reimburse us for certain expenses. | text | 803000 | monetaryItemType | text: <entity> 803000 </entity> <entity type> monetaryItemType </entity type> <context> , this will reflect a 2.5 % payment right to the first $ 1 billion of revenue each year for 12 years. Revenue above $ 1 billion each year will be subject to a 9 % contingent payment right during this same period. Covered Revenues for the periods Q4 2023 through Q3 2024, Q4 2022 through Q3 2023, and Q4 2021 through Q3 2022 were $ 117 million, $ 85 million, and $ 42 million, respectively, driven primarily by sales of GRAIL’s Galleri test. Covered Revenue Payments relating to such periods were $ 1.1 million, $ 803,000 , and $ 396,000 in 2024, 2023, and 2022, respectively. A portion of the Covered Revenue Payments in 2022 were applied to reimburse us for certain expenses. </context> | us-gaap:PaymentForContingentConsiderationLiabilityOperatingActivities |
, this will reflect a 2.5 % payment right to the first $ 1 billion of revenue each year for 12 years. Revenue above $ 1 billion each year will be subject to a 9 % contingent payment right during this same period. Covered Revenues for the periods Q4 2023 through Q3 2024, Q4 2022 through Q3 2023, and Q4 2021 through Q3 2022 were $ 117 million, $ 85 million, and $ 42 million, respectively, driven primarily by sales of GRAIL’s Galleri test. Covered Revenue Payments relating to such periods were $ 1.1 million, $ 803,000 , and $ 396,000 in 2024, 2023, and 2022, respectively. A portion of the Covered Revenue Payments in 2022 were applied to reimburse us for certain expenses. | text | 396000 | monetaryItemType | text: <entity> 396000 </entity> <entity type> monetaryItemType </entity type> <context> , this will reflect a 2.5 % payment right to the first $ 1 billion of revenue each year for 12 years. Revenue above $ 1 billion each year will be subject to a 9 % contingent payment right during this same period. Covered Revenues for the periods Q4 2023 through Q3 2024, Q4 2022 through Q3 2023, and Q4 2021 through Q3 2022 were $ 117 million, $ 85 million, and $ 42 million, respectively, driven primarily by sales of GRAIL’s Galleri test. Covered Revenue Payments relating to such periods were $ 1.1 million, $ 803,000 , and $ 396,000 in 2024, 2023, and 2022, respectively. A portion of the Covered Revenue Payments in 2022 were applied to reimburse us for certain expenses. </context> | us-gaap:PaymentForContingentConsiderationLiabilityOperatingActivities |
The fair value of our contingent consideration liability related to GRAIL was $ 71 million and $ 387 million as of December 29, 2024 and December 31, 2023, respectively, of which $ 70 million and $ 385 million, respectively, was included in other long-term liabilities, with the remaining balances included in accrued liabilities. We use a Monte Carlo simulation to estimate the fair value of the GRAIL contingent consideration liability. Estimates and assumptions used in the Monte Carlo simulation include forecasted revenues for GRAIL, a revenue risk premium, a revenue volatility estimate, an operational leverage ratio and a counterparty credit spread. These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. Subsequent to the Spin-Off, we no longer have access to GRAIL management’s forecasts. Therefore, we must rely on information made public by GRAIL’s management and, beginning in Q4 2024, information published in analyst reports to estimate forecasted revenues through August 2033. In August 2024, GRAIL publicly announced a corporate restructure, including a reduction in headcount and planned hires and a substantial decrease in certain R&D projects and investments. To estimate the liability as of December 29, 2024, we selected a revenue risk premium of 9 %, which was derived from reconciling our forecasted revenues for GRAIL to GRAIL’s market capitalization based on a 60 -day trailing average. The significant decrease in the contingent consideration liability from December 31, 2023 was due to a decrease in the forecasted revenues, following revised revenue projections announced by GRAIL in May 2024 and the restructuring announcement in August 2024. | text | 71 | monetaryItemType | text: <entity> 71 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our contingent consideration liability related to GRAIL was $ 71 million and $ 387 million as of December 29, 2024 and December 31, 2023, respectively, of which $ 70 million and $ 385 million, respectively, was included in other long-term liabilities, with the remaining balances included in accrued liabilities. We use a Monte Carlo simulation to estimate the fair value of the GRAIL contingent consideration liability. Estimates and assumptions used in the Monte Carlo simulation include forecasted revenues for GRAIL, a revenue risk premium, a revenue volatility estimate, an operational leverage ratio and a counterparty credit spread. These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. Subsequent to the Spin-Off, we no longer have access to GRAIL management’s forecasts. Therefore, we must rely on information made public by GRAIL’s management and, beginning in Q4 2024, information published in analyst reports to estimate forecasted revenues through August 2033. In August 2024, GRAIL publicly announced a corporate restructure, including a reduction in headcount and planned hires and a substantial decrease in certain R&D projects and investments. To estimate the liability as of December 29, 2024, we selected a revenue risk premium of 9 %, which was derived from reconciling our forecasted revenues for GRAIL to GRAIL’s market capitalization based on a 60 -day trailing average. The significant decrease in the contingent consideration liability from December 31, 2023 was due to a decrease in the forecasted revenues, following revised revenue projections announced by GRAIL in May 2024 and the restructuring announcement in August 2024. </context> | us-gaap:BusinessCombinationContingentConsiderationLiability |
The fair value of our contingent consideration liability related to GRAIL was $ 71 million and $ 387 million as of December 29, 2024 and December 31, 2023, respectively, of which $ 70 million and $ 385 million, respectively, was included in other long-term liabilities, with the remaining balances included in accrued liabilities. We use a Monte Carlo simulation to estimate the fair value of the GRAIL contingent consideration liability. Estimates and assumptions used in the Monte Carlo simulation include forecasted revenues for GRAIL, a revenue risk premium, a revenue volatility estimate, an operational leverage ratio and a counterparty credit spread. These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. Subsequent to the Spin-Off, we no longer have access to GRAIL management’s forecasts. Therefore, we must rely on information made public by GRAIL’s management and, beginning in Q4 2024, information published in analyst reports to estimate forecasted revenues through August 2033. In August 2024, GRAIL publicly announced a corporate restructure, including a reduction in headcount and planned hires and a substantial decrease in certain R&D projects and investments. To estimate the liability as of December 29, 2024, we selected a revenue risk premium of 9 %, which was derived from reconciling our forecasted revenues for GRAIL to GRAIL’s market capitalization based on a 60 -day trailing average. The significant decrease in the contingent consideration liability from December 31, 2023 was due to a decrease in the forecasted revenues, following revised revenue projections announced by GRAIL in May 2024 and the restructuring announcement in August 2024. | text | 387 | monetaryItemType | text: <entity> 387 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our contingent consideration liability related to GRAIL was $ 71 million and $ 387 million as of December 29, 2024 and December 31, 2023, respectively, of which $ 70 million and $ 385 million, respectively, was included in other long-term liabilities, with the remaining balances included in accrued liabilities. We use a Monte Carlo simulation to estimate the fair value of the GRAIL contingent consideration liability. Estimates and assumptions used in the Monte Carlo simulation include forecasted revenues for GRAIL, a revenue risk premium, a revenue volatility estimate, an operational leverage ratio and a counterparty credit spread. These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. Subsequent to the Spin-Off, we no longer have access to GRAIL management’s forecasts. Therefore, we must rely on information made public by GRAIL’s management and, beginning in Q4 2024, information published in analyst reports to estimate forecasted revenues through August 2033. In August 2024, GRAIL publicly announced a corporate restructure, including a reduction in headcount and planned hires and a substantial decrease in certain R&D projects and investments. To estimate the liability as of December 29, 2024, we selected a revenue risk premium of 9 %, which was derived from reconciling our forecasted revenues for GRAIL to GRAIL’s market capitalization based on a 60 -day trailing average. The significant decrease in the contingent consideration liability from December 31, 2023 was due to a decrease in the forecasted revenues, following revised revenue projections announced by GRAIL in May 2024 and the restructuring announcement in August 2024. </context> | us-gaap:BusinessCombinationContingentConsiderationLiability |
The fair value of our contingent consideration liability related to GRAIL was $ 71 million and $ 387 million as of December 29, 2024 and December 31, 2023, respectively, of which $ 70 million and $ 385 million, respectively, was included in other long-term liabilities, with the remaining balances included in accrued liabilities. We use a Monte Carlo simulation to estimate the fair value of the GRAIL contingent consideration liability. Estimates and assumptions used in the Monte Carlo simulation include forecasted revenues for GRAIL, a revenue risk premium, a revenue volatility estimate, an operational leverage ratio and a counterparty credit spread. These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. Subsequent to the Spin-Off, we no longer have access to GRAIL management’s forecasts. Therefore, we must rely on information made public by GRAIL’s management and, beginning in Q4 2024, information published in analyst reports to estimate forecasted revenues through August 2033. In August 2024, GRAIL publicly announced a corporate restructure, including a reduction in headcount and planned hires and a substantial decrease in certain R&D projects and investments. To estimate the liability as of December 29, 2024, we selected a revenue risk premium of 9 %, which was derived from reconciling our forecasted revenues for GRAIL to GRAIL’s market capitalization based on a 60 -day trailing average. The significant decrease in the contingent consideration liability from December 31, 2023 was due to a decrease in the forecasted revenues, following revised revenue projections announced by GRAIL in May 2024 and the restructuring announcement in August 2024. | text | 70 | monetaryItemType | text: <entity> 70 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our contingent consideration liability related to GRAIL was $ 71 million and $ 387 million as of December 29, 2024 and December 31, 2023, respectively, of which $ 70 million and $ 385 million, respectively, was included in other long-term liabilities, with the remaining balances included in accrued liabilities. We use a Monte Carlo simulation to estimate the fair value of the GRAIL contingent consideration liability. Estimates and assumptions used in the Monte Carlo simulation include forecasted revenues for GRAIL, a revenue risk premium, a revenue volatility estimate, an operational leverage ratio and a counterparty credit spread. These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. Subsequent to the Spin-Off, we no longer have access to GRAIL management’s forecasts. Therefore, we must rely on information made public by GRAIL’s management and, beginning in Q4 2024, information published in analyst reports to estimate forecasted revenues through August 2033. In August 2024, GRAIL publicly announced a corporate restructure, including a reduction in headcount and planned hires and a substantial decrease in certain R&D projects and investments. To estimate the liability as of December 29, 2024, we selected a revenue risk premium of 9 %, which was derived from reconciling our forecasted revenues for GRAIL to GRAIL’s market capitalization based on a 60 -day trailing average. The significant decrease in the contingent consideration liability from December 31, 2023 was due to a decrease in the forecasted revenues, following revised revenue projections announced by GRAIL in May 2024 and the restructuring announcement in August 2024. </context> | us-gaap:BusinessCombinationContingentConsiderationLiabilityNoncurrent |
The fair value of our contingent consideration liability related to GRAIL was $ 71 million and $ 387 million as of December 29, 2024 and December 31, 2023, respectively, of which $ 70 million and $ 385 million, respectively, was included in other long-term liabilities, with the remaining balances included in accrued liabilities. We use a Monte Carlo simulation to estimate the fair value of the GRAIL contingent consideration liability. Estimates and assumptions used in the Monte Carlo simulation include forecasted revenues for GRAIL, a revenue risk premium, a revenue volatility estimate, an operational leverage ratio and a counterparty credit spread. These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. Subsequent to the Spin-Off, we no longer have access to GRAIL management’s forecasts. Therefore, we must rely on information made public by GRAIL’s management and, beginning in Q4 2024, information published in analyst reports to estimate forecasted revenues through August 2033. In August 2024, GRAIL publicly announced a corporate restructure, including a reduction in headcount and planned hires and a substantial decrease in certain R&D projects and investments. To estimate the liability as of December 29, 2024, we selected a revenue risk premium of 9 %, which was derived from reconciling our forecasted revenues for GRAIL to GRAIL’s market capitalization based on a 60 -day trailing average. The significant decrease in the contingent consideration liability from December 31, 2023 was due to a decrease in the forecasted revenues, following revised revenue projections announced by GRAIL in May 2024 and the restructuring announcement in August 2024. | text | 385 | monetaryItemType | text: <entity> 385 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our contingent consideration liability related to GRAIL was $ 71 million and $ 387 million as of December 29, 2024 and December 31, 2023, respectively, of which $ 70 million and $ 385 million, respectively, was included in other long-term liabilities, with the remaining balances included in accrued liabilities. We use a Monte Carlo simulation to estimate the fair value of the GRAIL contingent consideration liability. Estimates and assumptions used in the Monte Carlo simulation include forecasted revenues for GRAIL, a revenue risk premium, a revenue volatility estimate, an operational leverage ratio and a counterparty credit spread. These unobservable inputs represent a Level 3 measurement because they are supported by little or no market activity and reflect our own assumptions in measuring fair value. Subsequent to the Spin-Off, we no longer have access to GRAIL management’s forecasts. Therefore, we must rely on information made public by GRAIL’s management and, beginning in Q4 2024, information published in analyst reports to estimate forecasted revenues through August 2033. In August 2024, GRAIL publicly announced a corporate restructure, including a reduction in headcount and planned hires and a substantial decrease in certain R&D projects and investments. To estimate the liability as of December 29, 2024, we selected a revenue risk premium of 9 %, which was derived from reconciling our forecasted revenues for GRAIL to GRAIL’s market capitalization based on a 60 -day trailing average. The significant decrease in the contingent consideration liability from December 31, 2023 was due to a decrease in the forecasted revenues, following revised revenue projections announced by GRAIL in May 2024 and the restructuring announcement in August 2024. </context> | us-gaap:BusinessCombinationContingentConsiderationLiabilityNoncurrent |
The balance as of January 1, 2023 includes accumulated impairment of $ 3,914 million related to our GRAIL reporting unit. | text | 3914 | monetaryItemType | text: <entity> 3914 </entity> <entity type> monetaryItemType </entity type> <context> The balance as of January 1, 2023 includes accumulated impairment of $ 3,914 million related to our GRAIL reporting unit. </context> | us-gaap:GoodwillImpairedAccumulatedImpairmentLoss |
Goodwill is reviewed for impairment annually, during the second quarter of our fiscal year, or more frequently if an event occurs indicating the potential for impairment. In May 2024, we performed our annual goodwill impairment test for our two reporting units: Core Illumina and GRAIL. We performed a quantitative test for both reporting units. GRAIL’s carrying value exceeded its fair value, estimated as $ 580 million, and we recorded a goodwill impairment of $ 1,466 million in Q2 2024. There was no impairment for Core Illumina, as its fair value exceeded its carrying value. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> Goodwill is reviewed for impairment annually, during the second quarter of our fiscal year, or more frequently if an event occurs indicating the potential for impairment. In May 2024, we performed our annual goodwill impairment test for our two reporting units: Core Illumina and GRAIL. We performed a quantitative test for both reporting units. GRAIL’s carrying value exceeded its fair value, estimated as $ 580 million, and we recorded a goodwill impairment of $ 1,466 million in Q2 2024. There was no impairment for Core Illumina, as its fair value exceeded its carrying value. </context> | us-gaap:NumberOfReportingUnits |
Goodwill is reviewed for impairment annually, during the second quarter of our fiscal year, or more frequently if an event occurs indicating the potential for impairment. In May 2024, we performed our annual goodwill impairment test for our two reporting units: Core Illumina and GRAIL. We performed a quantitative test for both reporting units. GRAIL’s carrying value exceeded its fair value, estimated as $ 580 million, and we recorded a goodwill impairment of $ 1,466 million in Q2 2024. There was no impairment for Core Illumina, as its fair value exceeded its carrying value. | text | 1466 | monetaryItemType | text: <entity> 1466 </entity> <entity type> monetaryItemType </entity type> <context> Goodwill is reviewed for impairment annually, during the second quarter of our fiscal year, or more frequently if an event occurs indicating the potential for impairment. In May 2024, we performed our annual goodwill impairment test for our two reporting units: Core Illumina and GRAIL. We performed a quantitative test for both reporting units. GRAIL’s carrying value exceeded its fair value, estimated as $ 580 million, and we recorded a goodwill impairment of $ 1,466 million in Q2 2024. There was no impairment for Core Illumina, as its fair value exceeded its carrying value. </context> | us-gaap:GoodwillImpairmentLoss |
To determine the fair value of GRAIL as of May 2024, we utilized enterprise value estimates of GRAIL, as estimated by investment bankers for purposes of determining pricing for the Spin-Off. Estimates and assumptions used to derive the investment bankers’ enterprise value estimates included estimated revenues for a two year period based on assumed growth rates and implied revenue multiples for comparable companies. These estimates and assumptions represent a Level 3 measurement as they are supported by little or no market activity and reflect our own assumptions in measuring fair value. An increase in estimated enterprise values for GRAIL of 100% would still have resulted in a full impairment of goodwill. In prior periods, we used a combination of both an income (discounted cash flow) and market approach to determine the fair value of GRAIL. The income approach utilized estimated cash flows for GRAIL based on a long-range plan, for a 15 year period, which contemplated FDA approval. Based on this approach, in Q3 2023, we estimated the fair value of GRAIL to be $ 3.6 billion and using this same approach in Q4 2023 suggested no further decrement in fair value. Initial analyst coverage of GRAIL from December 2023 into the spring of 2024 suggested that GRAIL could be valued between $ 3 billion and $ 4 billion. By May 2024, prior to the consummation of the GRAIL Spin-Off, additional information about GRAIL had become available in GRAIL’s amended Form 10 filings and a publicly available management presentation, which included updated disclosure about GRAIL’s business and anticipated near term financial trends. Prior to the consummation of the GRAIL Spin-Off, the amount of GRAIL’s Disposal Funding, $ 974 million, was also disclosed. Analyst and banker valuation estimates then began to estimate fair values between $ 400 million and $ 770 million, consistent with the impairment recorded in Q2 2024. | text | 3.6 | monetaryItemType | text: <entity> 3.6 </entity> <entity type> monetaryItemType </entity type> <context> To determine the fair value of GRAIL as of May 2024, we utilized enterprise value estimates of GRAIL, as estimated by investment bankers for purposes of determining pricing for the Spin-Off. Estimates and assumptions used to derive the investment bankers’ enterprise value estimates included estimated revenues for a two year period based on assumed growth rates and implied revenue multiples for comparable companies. These estimates and assumptions represent a Level 3 measurement as they are supported by little or no market activity and reflect our own assumptions in measuring fair value. An increase in estimated enterprise values for GRAIL of 100% would still have resulted in a full impairment of goodwill. In prior periods, we used a combination of both an income (discounted cash flow) and market approach to determine the fair value of GRAIL. The income approach utilized estimated cash flows for GRAIL based on a long-range plan, for a 15 year period, which contemplated FDA approval. Based on this approach, in Q3 2023, we estimated the fair value of GRAIL to be $ 3.6 billion and using this same approach in Q4 2023 suggested no further decrement in fair value. Initial analyst coverage of GRAIL from December 2023 into the spring of 2024 suggested that GRAIL could be valued between $ 3 billion and $ 4 billion. By May 2024, prior to the consummation of the GRAIL Spin-Off, additional information about GRAIL had become available in GRAIL’s amended Form 10 filings and a publicly available management presentation, which included updated disclosure about GRAIL’s business and anticipated near term financial trends. Prior to the consummation of the GRAIL Spin-Off, the amount of GRAIL’s Disposal Funding, $ 974 million, was also disclosed. Analyst and banker valuation estimates then began to estimate fair values between $ 400 million and $ 770 million, consistent with the impairment recorded in Q2 2024. </context> | us-gaap:Goodwill |
To determine the fair value of GRAIL as of May 2024, we utilized enterprise value estimates of GRAIL, as estimated by investment bankers for purposes of determining pricing for the Spin-Off. Estimates and assumptions used to derive the investment bankers’ enterprise value estimates included estimated revenues for a two year period based on assumed growth rates and implied revenue multiples for comparable companies. These estimates and assumptions represent a Level 3 measurement as they are supported by little or no market activity and reflect our own assumptions in measuring fair value. An increase in estimated enterprise values for GRAIL of 100% would still have resulted in a full impairment of goodwill. In prior periods, we used a combination of both an income (discounted cash flow) and market approach to determine the fair value of GRAIL. The income approach utilized estimated cash flows for GRAIL based on a long-range plan, for a 15 year period, which contemplated FDA approval. Based on this approach, in Q3 2023, we estimated the fair value of GRAIL to be $ 3.6 billion and using this same approach in Q4 2023 suggested no further decrement in fair value. Initial analyst coverage of GRAIL from December 2023 into the spring of 2024 suggested that GRAIL could be valued between $ 3 billion and $ 4 billion. By May 2024, prior to the consummation of the GRAIL Spin-Off, additional information about GRAIL had become available in GRAIL’s amended Form 10 filings and a publicly available management presentation, which included updated disclosure about GRAIL’s business and anticipated near term financial trends. Prior to the consummation of the GRAIL Spin-Off, the amount of GRAIL’s Disposal Funding, $ 974 million, was also disclosed. Analyst and banker valuation estimates then began to estimate fair values between $ 400 million and $ 770 million, consistent with the impairment recorded in Q2 2024. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> To determine the fair value of GRAIL as of May 2024, we utilized enterprise value estimates of GRAIL, as estimated by investment bankers for purposes of determining pricing for the Spin-Off. Estimates and assumptions used to derive the investment bankers’ enterprise value estimates included estimated revenues for a two year period based on assumed growth rates and implied revenue multiples for comparable companies. These estimates and assumptions represent a Level 3 measurement as they are supported by little or no market activity and reflect our own assumptions in measuring fair value. An increase in estimated enterprise values for GRAIL of 100% would still have resulted in a full impairment of goodwill. In prior periods, we used a combination of both an income (discounted cash flow) and market approach to determine the fair value of GRAIL. The income approach utilized estimated cash flows for GRAIL based on a long-range plan, for a 15 year period, which contemplated FDA approval. Based on this approach, in Q3 2023, we estimated the fair value of GRAIL to be $ 3.6 billion and using this same approach in Q4 2023 suggested no further decrement in fair value. Initial analyst coverage of GRAIL from December 2023 into the spring of 2024 suggested that GRAIL could be valued between $ 3 billion and $ 4 billion. By May 2024, prior to the consummation of the GRAIL Spin-Off, additional information about GRAIL had become available in GRAIL’s amended Form 10 filings and a publicly available management presentation, which included updated disclosure about GRAIL’s business and anticipated near term financial trends. Prior to the consummation of the GRAIL Spin-Off, the amount of GRAIL’s Disposal Funding, $ 974 million, was also disclosed. Analyst and banker valuation estimates then began to estimate fair values between $ 400 million and $ 770 million, consistent with the impairment recorded in Q2 2024. </context> | us-gaap:Goodwill |
To determine the fair value of GRAIL as of May 2024, we utilized enterprise value estimates of GRAIL, as estimated by investment bankers for purposes of determining pricing for the Spin-Off. Estimates and assumptions used to derive the investment bankers’ enterprise value estimates included estimated revenues for a two year period based on assumed growth rates and implied revenue multiples for comparable companies. These estimates and assumptions represent a Level 3 measurement as they are supported by little or no market activity and reflect our own assumptions in measuring fair value. An increase in estimated enterprise values for GRAIL of 100% would still have resulted in a full impairment of goodwill. In prior periods, we used a combination of both an income (discounted cash flow) and market approach to determine the fair value of GRAIL. The income approach utilized estimated cash flows for GRAIL based on a long-range plan, for a 15 year period, which contemplated FDA approval. Based on this approach, in Q3 2023, we estimated the fair value of GRAIL to be $ 3.6 billion and using this same approach in Q4 2023 suggested no further decrement in fair value. Initial analyst coverage of GRAIL from December 2023 into the spring of 2024 suggested that GRAIL could be valued between $ 3 billion and $ 4 billion. By May 2024, prior to the consummation of the GRAIL Spin-Off, additional information about GRAIL had become available in GRAIL’s amended Form 10 filings and a publicly available management presentation, which included updated disclosure about GRAIL’s business and anticipated near term financial trends. Prior to the consummation of the GRAIL Spin-Off, the amount of GRAIL’s Disposal Funding, $ 974 million, was also disclosed. Analyst and banker valuation estimates then began to estimate fair values between $ 400 million and $ 770 million, consistent with the impairment recorded in Q2 2024. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> To determine the fair value of GRAIL as of May 2024, we utilized enterprise value estimates of GRAIL, as estimated by investment bankers for purposes of determining pricing for the Spin-Off. Estimates and assumptions used to derive the investment bankers’ enterprise value estimates included estimated revenues for a two year period based on assumed growth rates and implied revenue multiples for comparable companies. These estimates and assumptions represent a Level 3 measurement as they are supported by little or no market activity and reflect our own assumptions in measuring fair value. An increase in estimated enterprise values for GRAIL of 100% would still have resulted in a full impairment of goodwill. In prior periods, we used a combination of both an income (discounted cash flow) and market approach to determine the fair value of GRAIL. The income approach utilized estimated cash flows for GRAIL based on a long-range plan, for a 15 year period, which contemplated FDA approval. Based on this approach, in Q3 2023, we estimated the fair value of GRAIL to be $ 3.6 billion and using this same approach in Q4 2023 suggested no further decrement in fair value. Initial analyst coverage of GRAIL from December 2023 into the spring of 2024 suggested that GRAIL could be valued between $ 3 billion and $ 4 billion. By May 2024, prior to the consummation of the GRAIL Spin-Off, additional information about GRAIL had become available in GRAIL’s amended Form 10 filings and a publicly available management presentation, which included updated disclosure about GRAIL’s business and anticipated near term financial trends. Prior to the consummation of the GRAIL Spin-Off, the amount of GRAIL’s Disposal Funding, $ 974 million, was also disclosed. Analyst and banker valuation estimates then began to estimate fair values between $ 400 million and $ 770 million, consistent with the impairment recorded in Q2 2024. </context> | us-gaap:Goodwill |
To determine the fair value of GRAIL as of May 2024, we utilized enterprise value estimates of GRAIL, as estimated by investment bankers for purposes of determining pricing for the Spin-Off. Estimates and assumptions used to derive the investment bankers’ enterprise value estimates included estimated revenues for a two year period based on assumed growth rates and implied revenue multiples for comparable companies. These estimates and assumptions represent a Level 3 measurement as they are supported by little or no market activity and reflect our own assumptions in measuring fair value. An increase in estimated enterprise values for GRAIL of 100% would still have resulted in a full impairment of goodwill. In prior periods, we used a combination of both an income (discounted cash flow) and market approach to determine the fair value of GRAIL. The income approach utilized estimated cash flows for GRAIL based on a long-range plan, for a 15 year period, which contemplated FDA approval. Based on this approach, in Q3 2023, we estimated the fair value of GRAIL to be $ 3.6 billion and using this same approach in Q4 2023 suggested no further decrement in fair value. Initial analyst coverage of GRAIL from December 2023 into the spring of 2024 suggested that GRAIL could be valued between $ 3 billion and $ 4 billion. By May 2024, prior to the consummation of the GRAIL Spin-Off, additional information about GRAIL had become available in GRAIL’s amended Form 10 filings and a publicly available management presentation, which included updated disclosure about GRAIL’s business and anticipated near term financial trends. Prior to the consummation of the GRAIL Spin-Off, the amount of GRAIL’s Disposal Funding, $ 974 million, was also disclosed. Analyst and banker valuation estimates then began to estimate fair values between $ 400 million and $ 770 million, consistent with the impairment recorded in Q2 2024. | text | 974 | monetaryItemType | text: <entity> 974 </entity> <entity type> monetaryItemType </entity type> <context> To determine the fair value of GRAIL as of May 2024, we utilized enterprise value estimates of GRAIL, as estimated by investment bankers for purposes of determining pricing for the Spin-Off. Estimates and assumptions used to derive the investment bankers’ enterprise value estimates included estimated revenues for a two year period based on assumed growth rates and implied revenue multiples for comparable companies. These estimates and assumptions represent a Level 3 measurement as they are supported by little or no market activity and reflect our own assumptions in measuring fair value. An increase in estimated enterprise values for GRAIL of 100% would still have resulted in a full impairment of goodwill. In prior periods, we used a combination of both an income (discounted cash flow) and market approach to determine the fair value of GRAIL. The income approach utilized estimated cash flows for GRAIL based on a long-range plan, for a 15 year period, which contemplated FDA approval. Based on this approach, in Q3 2023, we estimated the fair value of GRAIL to be $ 3.6 billion and using this same approach in Q4 2023 suggested no further decrement in fair value. Initial analyst coverage of GRAIL from December 2023 into the spring of 2024 suggested that GRAIL could be valued between $ 3 billion and $ 4 billion. By May 2024, prior to the consummation of the GRAIL Spin-Off, additional information about GRAIL had become available in GRAIL’s amended Form 10 filings and a publicly available management presentation, which included updated disclosure about GRAIL’s business and anticipated near term financial trends. Prior to the consummation of the GRAIL Spin-Off, the amount of GRAIL’s Disposal Funding, $ 974 million, was also disclosed. Analyst and banker valuation estimates then began to estimate fair values between $ 400 million and $ 770 million, consistent with the impairment recorded in Q2 2024. </context> | us-gaap:DiscontinuedOperationAmountOfContinuingCashFlowsAfterDisposal |
We evaluated GRAIL’s IPR&D intangible asset for potential impairment, in May 2024, as part of our annual test. We also concluded that the when-issued trading activity for GRAIL’s common stock, in June 2024, represented a triggering event that required an additional impairment test be performed. The carrying value of the IPR&D asset exceeded its estimated fair value and we recorded an impairment of $ 420 million in Q2 2024. The fair value of GRAIL’s IPR&D was determined by the income approach, using a discounted cash flow model. Estimates and assumptions used in the income approach, which represent a Level 3 measurement, included projected cash flows and a discount rate of 46.5 %. The discount rate was derived from reconciling GRAIL’s long-range plan, which contemplated FDA approval and estimated cash flows for a 15 year period, to observed market values of GRAIL based on when-issued trading activity. An increase of 300 basis points to the discount rate used in our analysis would have resulted in additional impairment of $ 20 million. There is substantial risk inherent in forecasting revenues and spend associated with research and development, including assumptions around the timing and level of resources and investment to be made, which were made more challenging in light of the Spin-Off and related Disposal Funding. | text | 420 | monetaryItemType | text: <entity> 420 </entity> <entity type> monetaryItemType </entity type> <context> We evaluated GRAIL’s IPR&D intangible asset for potential impairment, in May 2024, as part of our annual test. We also concluded that the when-issued trading activity for GRAIL’s common stock, in June 2024, represented a triggering event that required an additional impairment test be performed. The carrying value of the IPR&D asset exceeded its estimated fair value and we recorded an impairment of $ 420 million in Q2 2024. The fair value of GRAIL’s IPR&D was determined by the income approach, using a discounted cash flow model. Estimates and assumptions used in the income approach, which represent a Level 3 measurement, included projected cash flows and a discount rate of 46.5 %. The discount rate was derived from reconciling GRAIL’s long-range plan, which contemplated FDA approval and estimated cash flows for a 15 year period, to observed market values of GRAIL based on when-issued trading activity. An increase of 300 basis points to the discount rate used in our analysis would have resulted in additional impairment of $ 20 million. There is substantial risk inherent in forecasting revenues and spend associated with research and development, including assumptions around the timing and level of resources and investment to be made, which were made more challenging in light of the Spin-Off and related Disposal Funding. </context> | us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill |
In Q3 2023, we concluded that the sustained decrease in the Company’s stock price and overall market capitalization during the quarter was a triggering event indicating the fair values of our reporting units might be less than their carrying amounts and that an interim impairment test was required. Based on our analysis, we concluded GRAIL’s carrying value exceeded its fair value and recorded a goodwill impairment of $ 712 million, primarily due to the decrease in the Company’s consolidated market capitalization and a higher discount rate selected for the fair value calculation of GRAIL. There was no impairment for Core Illumina, as its fair value exceeded its carrying value. | text | 712 | monetaryItemType | text: <entity> 712 </entity> <entity type> monetaryItemType </entity type> <context> In Q3 2023, we concluded that the sustained decrease in the Company’s stock price and overall market capitalization during the quarter was a triggering event indicating the fair values of our reporting units might be less than their carrying amounts and that an interim impairment test was required. Based on our analysis, we concluded GRAIL’s carrying value exceeded its fair value and recorded a goodwill impairment of $ 712 million, primarily due to the decrease in the Company’s consolidated market capitalization and a higher discount rate selected for the fair value calculation of GRAIL. There was no impairment for Core Illumina, as its fair value exceeded its carrying value. </context> | us-gaap:GoodwillImpairmentLoss |
In conjunction with our interim goodwill impairment test, we also evaluated GRAIL’s IPR&D intangible asset for potential impairment. We performed our impairment test by comparing the carrying value of the IPR&D intangible asset to its estimated fair value, which was determined by the income approach, using a discounted cash flow model. Estimates and assumptions used in the income approach, which represent a Level 3 measurement, included projected cash flows and a selected discount rate of 19.0 %. Based on our analysis, the carrying value of GRAIL’s IPR&D intangible asset exceeded its estimated fair value and we recorded an impairment of $ 109 million in Q3 2023, primarily due to a decrease in projected cash flows and a higher discount rate selected for the fair value calculation of the IPR&D asset. We also performed a recoverability test for the definite-lived intangible assets assigned to GRAIL, which included developed technology and trade name, and to Core Illumina and noted no impairment. | text | 109 | monetaryItemType | text: <entity> 109 </entity> <entity type> monetaryItemType </entity type> <context> In conjunction with our interim goodwill impairment test, we also evaluated GRAIL’s IPR&D intangible asset for potential impairment. We performed our impairment test by comparing the carrying value of the IPR&D intangible asset to its estimated fair value, which was determined by the income approach, using a discounted cash flow model. Estimates and assumptions used in the income approach, which represent a Level 3 measurement, included projected cash flows and a selected discount rate of 19.0 %. Based on our analysis, the carrying value of GRAIL’s IPR&D intangible asset exceeded its estimated fair value and we recorded an impairment of $ 109 million in Q3 2023, primarily due to a decrease in projected cash flows and a higher discount rate selected for the fair value calculation of the IPR&D asset. We also performed a recoverability test for the definite-lived intangible assets assigned to GRAIL, which included developed technology and trade name, and to Core Illumina and noted no impairment. </context> | us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill |
In Q4 2023, we concluded, among other events, that our formal announcement to divest GRAIL represented a triggering event that required an additional interim impairment test be performed. As a result of our analysis, no impairment was recorded for Core Illumina or GRAIL. The fair value of GRAIL exceeded its carrying value by approximately $ 950 million and the selected discount rate used in the analysis was 23.0 %. An increase of 100 basis points to the discount rate would still have resulted in no impairment for GRAIL. We also performed a recoverability test for the definite-lived intangible assets assigned to GRAIL and Core Illumina and noted no impairment. | text | 950 | monetaryItemType | text: <entity> 950 </entity> <entity type> monetaryItemType </entity type> <context> In Q4 2023, we concluded, among other events, that our formal announcement to divest GRAIL represented a triggering event that required an additional interim impairment test be performed. As a result of our analysis, no impairment was recorded for Core Illumina or GRAIL. The fair value of GRAIL exceeded its carrying value by approximately $ 950 million and the selected discount rate used in the analysis was 23.0 %. An increase of 100 basis points to the discount rate would still have resulted in no impairment for GRAIL. We also performed a recoverability test for the definite-lived intangible assets assigned to GRAIL and Core Illumina and noted no impairment. </context> | us-gaap:ReportingUnitAmountOfFairValueInExcessOfCarryingAmount |
. These decisions, along with a continued and significant decrease in the Company’s stock price and market capitalization, required us to perform an interim impairment test in Q3 2022. Based on our analysis, we concluded GRAIL’s carrying value exceeded its fair value and recorded a goodwill impairment of $ 3,914 million, primarily due to the negative impact of capital market conditions and a higher discount rate selected for the fair value calculation of GRAIL. There was no impairment for Core Illumina. | text | 3914 | monetaryItemType | text: <entity> 3914 </entity> <entity type> monetaryItemType </entity type> <context> . These decisions, along with a continued and significant decrease in the Company’s stock price and market capitalization, required us to perform an interim impairment test in Q3 2022. Based on our analysis, we concluded GRAIL’s carrying value exceeded its fair value and recorded a goodwill impairment of $ 3,914 million, primarily due to the negative impact of capital market conditions and a higher discount rate selected for the fair value calculation of GRAIL. There was no impairment for Core Illumina. </context> | us-gaap:GoodwillImpairmentLoss |
for details. Also, in Q1 2024, we placed into service (reflected in developed technologies), with a useful life of 10 years, the $ 35 million IPR&D intangible asset we acquired in 2021, net of impairments recognized in 2024 and 2023 of $ 3 million and $ 6 million, respectively. | text | 35 | monetaryItemType | text: <entity> 35 </entity> <entity type> monetaryItemType </entity type> <context> for details. Also, in Q1 2024, we placed into service (reflected in developed technologies), with a useful life of 10 years, the $ 35 million IPR&D intangible asset we acquired in 2021, net of impairments recognized in 2024 and 2023 of $ 3 million and $ 6 million, respectively. </context> | us-gaap:IndefinitelivedIntangibleAssetsAcquired |
for details. Also, in Q1 2024, we placed into service (reflected in developed technologies), with a useful life of 10 years, the $ 35 million IPR&D intangible asset we acquired in 2021, net of impairments recognized in 2024 and 2023 of $ 3 million and $ 6 million, respectively. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> for details. Also, in Q1 2024, we placed into service (reflected in developed technologies), with a useful life of 10 years, the $ 35 million IPR&D intangible asset we acquired in 2021, net of impairments recognized in 2024 and 2023 of $ 3 million and $ 6 million, respectively. </context> | us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill |
for details. Also, in Q1 2024, we placed into service (reflected in developed technologies), with a useful life of 10 years, the $ 35 million IPR&D intangible asset we acquired in 2021, net of impairments recognized in 2024 and 2023 of $ 3 million and $ 6 million, respectively. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> for details. Also, in Q1 2024, we placed into service (reflected in developed technologies), with a useful life of 10 years, the $ 35 million IPR&D intangible asset we acquired in 2021, net of impairments recognized in 2024 and 2023 of $ 3 million and $ 6 million, respectively. </context> | us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill |
As a result of the Fluent BioSciences acquisition in Q3 2024, we recorded a developed technology asset of $ 42 million, with a useful life of 7 years, and a customer relationship asset of $ 2 million, with a useful life of 11 years. We are still finalizing the allocation of the purchase price as it relates to the completion of certain tax returns. We expect to finalize the valuation as soon as practicable, but no later than one year after the acquisition. As a result of an acquisition in Q4 2023, we recorded a developed technology asset of $ 19 million, with a useful life of 10 years. We finalized the allocation of the purchase price in Q4 2024 with no material adjustments to provisional amounts. | text | 42 | monetaryItemType | text: <entity> 42 </entity> <entity type> monetaryItemType </entity type> <context> As a result of the Fluent BioSciences acquisition in Q3 2024, we recorded a developed technology asset of $ 42 million, with a useful life of 7 years, and a customer relationship asset of $ 2 million, with a useful life of 11 years. We are still finalizing the allocation of the purchase price as it relates to the completion of certain tax returns. We expect to finalize the valuation as soon as practicable, but no later than one year after the acquisition. As a result of an acquisition in Q4 2023, we recorded a developed technology asset of $ 19 million, with a useful life of 10 years. We finalized the allocation of the purchase price in Q4 2024 with no material adjustments to provisional amounts. </context> | us-gaap:FinitelivedIntangibleAssetsAcquired1 |
As a result of the Fluent BioSciences acquisition in Q3 2024, we recorded a developed technology asset of $ 42 million, with a useful life of 7 years, and a customer relationship asset of $ 2 million, with a useful life of 11 years. We are still finalizing the allocation of the purchase price as it relates to the completion of certain tax returns. We expect to finalize the valuation as soon as practicable, but no later than one year after the acquisition. As a result of an acquisition in Q4 2023, we recorded a developed technology asset of $ 19 million, with a useful life of 10 years. We finalized the allocation of the purchase price in Q4 2024 with no material adjustments to provisional amounts. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> As a result of the Fluent BioSciences acquisition in Q3 2024, we recorded a developed technology asset of $ 42 million, with a useful life of 7 years, and a customer relationship asset of $ 2 million, with a useful life of 11 years. We are still finalizing the allocation of the purchase price as it relates to the completion of certain tax returns. We expect to finalize the valuation as soon as practicable, but no later than one year after the acquisition. As a result of an acquisition in Q4 2023, we recorded a developed technology asset of $ 19 million, with a useful life of 10 years. We finalized the allocation of the purchase price in Q4 2024 with no material adjustments to provisional amounts. </context> | us-gaap:FinitelivedIntangibleAssetsAcquired1 |
As a result of the Fluent BioSciences acquisition in Q3 2024, we recorded a developed technology asset of $ 42 million, with a useful life of 7 years, and a customer relationship asset of $ 2 million, with a useful life of 11 years. We are still finalizing the allocation of the purchase price as it relates to the completion of certain tax returns. We expect to finalize the valuation as soon as practicable, but no later than one year after the acquisition. As a result of an acquisition in Q4 2023, we recorded a developed technology asset of $ 19 million, with a useful life of 10 years. We finalized the allocation of the purchase price in Q4 2024 with no material adjustments to provisional amounts. | text | 19 | monetaryItemType | text: <entity> 19 </entity> <entity type> monetaryItemType </entity type> <context> As a result of the Fluent BioSciences acquisition in Q3 2024, we recorded a developed technology asset of $ 42 million, with a useful life of 7 years, and a customer relationship asset of $ 2 million, with a useful life of 11 years. We are still finalizing the allocation of the purchase price as it relates to the completion of certain tax returns. We expect to finalize the valuation as soon as practicable, but no later than one year after the acquisition. As a result of an acquisition in Q4 2023, we recorded a developed technology asset of $ 19 million, with a useful life of 10 years. We finalized the allocation of the purchase price in Q4 2024 with no material adjustments to provisional amounts. </context> | us-gaap:FinitelivedIntangibleAssetsAcquired1 |
Interest expense recognized on our term notes and delayed draw term loan, which included amortization of debt discounts and issuance costs, was $ 99 million, $ 74 million, and $ 21 million in 2024, 2023 and 2022, respectively. | text | 99 | monetaryItemType | text: <entity> 99 </entity> <entity type> monetaryItemType </entity type> <context> Interest expense recognized on our term notes and delayed draw term loan, which included amortization of debt discounts and issuance costs, was $ 99 million, $ 74 million, and $ 21 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestExpenseDebt |
Interest expense recognized on our term notes and delayed draw term loan, which included amortization of debt discounts and issuance costs, was $ 99 million, $ 74 million, and $ 21 million in 2024, 2023 and 2022, respectively. | text | 74 | monetaryItemType | text: <entity> 74 </entity> <entity type> monetaryItemType </entity type> <context> Interest expense recognized on our term notes and delayed draw term loan, which included amortization of debt discounts and issuance costs, was $ 99 million, $ 74 million, and $ 21 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestExpenseDebt |
Interest expense recognized on our term notes and delayed draw term loan, which included amortization of debt discounts and issuance costs, was $ 99 million, $ 74 million, and $ 21 million in 2024, 2023 and 2022, respectively. | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> Interest expense recognized on our term notes and delayed draw term loan, which included amortization of debt discounts and issuance costs, was $ 99 million, $ 74 million, and $ 21 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:InterestExpenseDebt |
4.650 % Term Notes due 2026 (2026 Term Notes) | text | 4.650 | percentItemType | text: <entity> 4.650 </entity> <entity type> percentItemType </entity type> <context> 4.650 % Term Notes due 2026 (2026 Term Notes) </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On September 9, 2024, we issued $ 500 million aggregate principal amount of 2026 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 497 million, which were used to repay a portion of the outstanding debt under the Delayed Draw Credit Agreement. The 2026 Term Notes, which mature on September 9, 2026, accrue interest at a rate of 4.650 % per annum, payable semi-annually on March 9 and September 9 of each year, beginning on March 9, 2025. We may redeem for cash all or any portion of the 2026 Term Notes, at our option, at any time prior to maturity at make-whole premium redemption prices as defined in the form of the notes. | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> On September 9, 2024, we issued $ 500 million aggregate principal amount of 2026 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 497 million, which were used to repay a portion of the outstanding debt under the Delayed Draw Credit Agreement. The 2026 Term Notes, which mature on September 9, 2026, accrue interest at a rate of 4.650 % per annum, payable semi-annually on March 9 and September 9 of each year, beginning on March 9, 2025. We may redeem for cash all or any portion of the 2026 Term Notes, at our option, at any time prior to maturity at make-whole premium redemption prices as defined in the form of the notes. </context> | us-gaap:DebtInstrumentFaceAmount |
On September 9, 2024, we issued $ 500 million aggregate principal amount of 2026 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 497 million, which were used to repay a portion of the outstanding debt under the Delayed Draw Credit Agreement. The 2026 Term Notes, which mature on September 9, 2026, accrue interest at a rate of 4.650 % per annum, payable semi-annually on March 9 and September 9 of each year, beginning on March 9, 2025. We may redeem for cash all or any portion of the 2026 Term Notes, at our option, at any time prior to maturity at make-whole premium redemption prices as defined in the form of the notes. | text | 497 | monetaryItemType | text: <entity> 497 </entity> <entity type> monetaryItemType </entity type> <context> On September 9, 2024, we issued $ 500 million aggregate principal amount of 2026 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 497 million, which were used to repay a portion of the outstanding debt under the Delayed Draw Credit Agreement. The 2026 Term Notes, which mature on September 9, 2026, accrue interest at a rate of 4.650 % per annum, payable semi-annually on March 9 and September 9 of each year, beginning on March 9, 2025. We may redeem for cash all or any portion of the 2026 Term Notes, at our option, at any time prior to maturity at make-whole premium redemption prices as defined in the form of the notes. </context> | us-gaap:ProceedsFromDebtNetOfIssuanceCosts |
On September 9, 2024, we issued $ 500 million aggregate principal amount of 2026 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 497 million, which were used to repay a portion of the outstanding debt under the Delayed Draw Credit Agreement. The 2026 Term Notes, which mature on September 9, 2026, accrue interest at a rate of 4.650 % per annum, payable semi-annually on March 9 and September 9 of each year, beginning on March 9, 2025. We may redeem for cash all or any portion of the 2026 Term Notes, at our option, at any time prior to maturity at make-whole premium redemption prices as defined in the form of the notes. | text | 4.650 | percentItemType | text: <entity> 4.650 </entity> <entity type> percentItemType </entity type> <context> On September 9, 2024, we issued $ 500 million aggregate principal amount of 2026 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 497 million, which were used to repay a portion of the outstanding debt under the Delayed Draw Credit Agreement. The 2026 Term Notes, which mature on September 9, 2026, accrue interest at a rate of 4.650 % per annum, payable semi-annually on March 9 and September 9 of each year, beginning on March 9, 2025. We may redeem for cash all or any portion of the 2026 Term Notes, at our option, at any time prior to maturity at make-whole premium redemption prices as defined in the form of the notes. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
5.800 % Term Notes due 2025 (2025 Term Notes) and 5.750 % Term Notes due 2027 (2027 Term Notes) | text | 5.800 | percentItemType | text: <entity> 5.800 </entity> <entity type> percentItemType </entity type> <context> 5.800 % Term Notes due 2025 (2025 Term Notes) and 5.750 % Term Notes due 2027 (2027 Term Notes) </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
5.800 % Term Notes due 2025 (2025 Term Notes) and 5.750 % Term Notes due 2027 (2027 Term Notes) | text | 5.750 | percentItemType | text: <entity> 5.750 </entity> <entity type> percentItemType </entity type> <context> 5.800 % Term Notes due 2025 (2025 Term Notes) and 5.750 % Term Notes due 2027 (2027 Term Notes) </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In December 2022, we issued $ 500 million aggregate principal amount of 2025 Term Notes and $ 500 million aggregate principal amount of 2027 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 991 million. The 2025 Notes, which mature on December 12, 2025, and the 2027 Notes, which mature on December 13, 2027, accrue interest at a rate of 5.800 % and 5.750 % per annum, respectively, payable semi-annually. Interest for the 2025 Notes is payable on June 12 and December 12 of each year and interest for the 2027 Notes is payable on June 13 and December 13 of each year, beginning in June 2023. | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> In December 2022, we issued $ 500 million aggregate principal amount of 2025 Term Notes and $ 500 million aggregate principal amount of 2027 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 991 million. The 2025 Notes, which mature on December 12, 2025, and the 2027 Notes, which mature on December 13, 2027, accrue interest at a rate of 5.800 % and 5.750 % per annum, respectively, payable semi-annually. Interest for the 2025 Notes is payable on June 12 and December 12 of each year and interest for the 2027 Notes is payable on June 13 and December 13 of each year, beginning in June 2023. </context> | us-gaap:DebtInstrumentFaceAmount |
In December 2022, we issued $ 500 million aggregate principal amount of 2025 Term Notes and $ 500 million aggregate principal amount of 2027 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 991 million. The 2025 Notes, which mature on December 12, 2025, and the 2027 Notes, which mature on December 13, 2027, accrue interest at a rate of 5.800 % and 5.750 % per annum, respectively, payable semi-annually. Interest for the 2025 Notes is payable on June 12 and December 12 of each year and interest for the 2027 Notes is payable on June 13 and December 13 of each year, beginning in June 2023. | text | 991 | monetaryItemType | text: <entity> 991 </entity> <entity type> monetaryItemType </entity type> <context> In December 2022, we issued $ 500 million aggregate principal amount of 2025 Term Notes and $ 500 million aggregate principal amount of 2027 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 991 million. The 2025 Notes, which mature on December 12, 2025, and the 2027 Notes, which mature on December 13, 2027, accrue interest at a rate of 5.800 % and 5.750 % per annum, respectively, payable semi-annually. Interest for the 2025 Notes is payable on June 12 and December 12 of each year and interest for the 2027 Notes is payable on June 13 and December 13 of each year, beginning in June 2023. </context> | us-gaap:ProceedsFromDebtNetOfIssuanceCosts |
In December 2022, we issued $ 500 million aggregate principal amount of 2025 Term Notes and $ 500 million aggregate principal amount of 2027 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 991 million. The 2025 Notes, which mature on December 12, 2025, and the 2027 Notes, which mature on December 13, 2027, accrue interest at a rate of 5.800 % and 5.750 % per annum, respectively, payable semi-annually. Interest for the 2025 Notes is payable on June 12 and December 12 of each year and interest for the 2027 Notes is payable on June 13 and December 13 of each year, beginning in June 2023. | text | 5.800 | percentItemType | text: <entity> 5.800 </entity> <entity type> percentItemType </entity type> <context> In December 2022, we issued $ 500 million aggregate principal amount of 2025 Term Notes and $ 500 million aggregate principal amount of 2027 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 991 million. The 2025 Notes, which mature on December 12, 2025, and the 2027 Notes, which mature on December 13, 2027, accrue interest at a rate of 5.800 % and 5.750 % per annum, respectively, payable semi-annually. Interest for the 2025 Notes is payable on June 12 and December 12 of each year and interest for the 2027 Notes is payable on June 13 and December 13 of each year, beginning in June 2023. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In December 2022, we issued $ 500 million aggregate principal amount of 2025 Term Notes and $ 500 million aggregate principal amount of 2027 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 991 million. The 2025 Notes, which mature on December 12, 2025, and the 2027 Notes, which mature on December 13, 2027, accrue interest at a rate of 5.800 % and 5.750 % per annum, respectively, payable semi-annually. Interest for the 2025 Notes is payable on June 12 and December 12 of each year and interest for the 2027 Notes is payable on June 13 and December 13 of each year, beginning in June 2023. | text | 5.750 | percentItemType | text: <entity> 5.750 </entity> <entity type> percentItemType </entity type> <context> In December 2022, we issued $ 500 million aggregate principal amount of 2025 Term Notes and $ 500 million aggregate principal amount of 2027 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 991 million. The 2025 Notes, which mature on December 12, 2025, and the 2027 Notes, which mature on December 13, 2027, accrue interest at a rate of 5.800 % and 5.750 % per annum, respectively, payable semi-annually. Interest for the 2025 Notes is payable on June 12 and December 12 of each year and interest for the 2027 Notes is payable on June 13 and December 13 of each year, beginning in June 2023. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
We may redeem for cash all or any portion of the 2025 or 2027 Term Notes, at our option, at any time prior to maturity. Prior to November 12, 2025 for the 2025 Notes and prior to November 13, 2027 for the 2027 Notes, the notes are redeemable at make-whole premium redemption prices as defined in the applicable forms of note. After November 12, 2025 and November 13, 2027, respectively, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> We may redeem for cash all or any portion of the 2025 or 2027 Term Notes, at our option, at any time prior to maturity. Prior to November 12, 2025 for the 2025 Notes and prior to November 13, 2027 for the 2027 Notes, the notes are redeemable at make-whole premium redemption prices as defined in the applicable forms of note. After November 12, 2025 and November 13, 2027, respectively, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentRedemptionPricePercentage |
0.550 % Term Notes due 2023 (2023 Term Notes) and 2.550 % Term Notes due 2031 (2031 Term Notes) | text | 0.550 | percentItemType | text: <entity> 0.550 </entity> <entity type> percentItemType </entity type> <context> 0.550 % Term Notes due 2023 (2023 Term Notes) and 2.550 % Term Notes due 2031 (2031 Term Notes) </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
0.550 % Term Notes due 2023 (2023 Term Notes) and 2.550 % Term Notes due 2031 (2031 Term Notes) | text | 2.550 | percentItemType | text: <entity> 2.550 </entity> <entity type> percentItemType </entity type> <context> 0.550 % Term Notes due 2023 (2023 Term Notes) and 2.550 % Term Notes due 2031 (2031 Term Notes) </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In March 2021, we issued $ 500 million aggregate principal amount of 2023 Term Notes and $ 500 million aggregate principal amount of 2031 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 992 million. The 2023 Notes matured and were repaid in cash on March 23, 2023. The 2031 Notes, which mature on March 23, 2031, accrue interest at a rate of 2.550 % per annum, payable semi-annually on March 23 and September 23 of each year. We may redeem for cash all or any portion of the 2031 Term Notes, at our option, at any time prior to maturity. Prior to December 23, 2030, the notes are redeemable at make-whole premium redemption prices as defined in the form of the notes. After December 23, 2030, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> In March 2021, we issued $ 500 million aggregate principal amount of 2023 Term Notes and $ 500 million aggregate principal amount of 2031 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 992 million. The 2023 Notes matured and were repaid in cash on March 23, 2023. The 2031 Notes, which mature on March 23, 2031, accrue interest at a rate of 2.550 % per annum, payable semi-annually on March 23 and September 23 of each year. We may redeem for cash all or any portion of the 2031 Term Notes, at our option, at any time prior to maturity. Prior to December 23, 2030, the notes are redeemable at make-whole premium redemption prices as defined in the form of the notes. After December 23, 2030, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentFaceAmount |
In March 2021, we issued $ 500 million aggregate principal amount of 2023 Term Notes and $ 500 million aggregate principal amount of 2031 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 992 million. The 2023 Notes matured and were repaid in cash on March 23, 2023. The 2031 Notes, which mature on March 23, 2031, accrue interest at a rate of 2.550 % per annum, payable semi-annually on March 23 and September 23 of each year. We may redeem for cash all or any portion of the 2031 Term Notes, at our option, at any time prior to maturity. Prior to December 23, 2030, the notes are redeemable at make-whole premium redemption prices as defined in the form of the notes. After December 23, 2030, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. | text | 992 | monetaryItemType | text: <entity> 992 </entity> <entity type> monetaryItemType </entity type> <context> In March 2021, we issued $ 500 million aggregate principal amount of 2023 Term Notes and $ 500 million aggregate principal amount of 2031 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 992 million. The 2023 Notes matured and were repaid in cash on March 23, 2023. The 2031 Notes, which mature on March 23, 2031, accrue interest at a rate of 2.550 % per annum, payable semi-annually on March 23 and September 23 of each year. We may redeem for cash all or any portion of the 2031 Term Notes, at our option, at any time prior to maturity. Prior to December 23, 2030, the notes are redeemable at make-whole premium redemption prices as defined in the form of the notes. After December 23, 2030, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. </context> | us-gaap:ProceedsFromDebtNetOfIssuanceCosts |
In March 2021, we issued $ 500 million aggregate principal amount of 2023 Term Notes and $ 500 million aggregate principal amount of 2031 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 992 million. The 2023 Notes matured and were repaid in cash on March 23, 2023. The 2031 Notes, which mature on March 23, 2031, accrue interest at a rate of 2.550 % per annum, payable semi-annually on March 23 and September 23 of each year. We may redeem for cash all or any portion of the 2031 Term Notes, at our option, at any time prior to maturity. Prior to December 23, 2030, the notes are redeemable at make-whole premium redemption prices as defined in the form of the notes. After December 23, 2030, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. | text | 2.550 | percentItemType | text: <entity> 2.550 </entity> <entity type> percentItemType </entity type> <context> In March 2021, we issued $ 500 million aggregate principal amount of 2023 Term Notes and $ 500 million aggregate principal amount of 2031 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 992 million. The 2023 Notes matured and were repaid in cash on March 23, 2023. The 2031 Notes, which mature on March 23, 2031, accrue interest at a rate of 2.550 % per annum, payable semi-annually on March 23 and September 23 of each year. We may redeem for cash all or any portion of the 2031 Term Notes, at our option, at any time prior to maturity. Prior to December 23, 2030, the notes are redeemable at make-whole premium redemption prices as defined in the form of the notes. After December 23, 2030, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In March 2021, we issued $ 500 million aggregate principal amount of 2023 Term Notes and $ 500 million aggregate principal amount of 2031 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 992 million. The 2023 Notes matured and were repaid in cash on March 23, 2023. The 2031 Notes, which mature on March 23, 2031, accrue interest at a rate of 2.550 % per annum, payable semi-annually on March 23 and September 23 of each year. We may redeem for cash all or any portion of the 2031 Term Notes, at our option, at any time prior to maturity. Prior to December 23, 2030, the notes are redeemable at make-whole premium redemption prices as defined in the form of the notes. After December 23, 2030, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> In March 2021, we issued $ 500 million aggregate principal amount of 2023 Term Notes and $ 500 million aggregate principal amount of 2031 Term Notes. After deducting discounts and issuance costs, we received net proceeds of $ 992 million. The 2023 Notes matured and were repaid in cash on March 23, 2023. The 2031 Notes, which mature on March 23, 2031, accrue interest at a rate of 2.550 % per annum, payable semi-annually on March 23 and September 23 of each year. We may redeem for cash all or any portion of the 2031 Term Notes, at our option, at any time prior to maturity. Prior to December 23, 2030, the notes are redeemable at make-whole premium redemption prices as defined in the form of the notes. After December 23, 2030, the notes are redeemable at a redemption price equal to 100 % of the principal to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. </context> | us-gaap:DebtInstrumentRedemptionPricePercentage |
On June 17, 2024, we entered into a 364 -day delayed draw credit agreement (the Delayed Draw Credit Agreement), which provided us with a senior unsecured term loan credit facility in an aggregate principal amount of up to $ 750 million (the Delayed Draw Credit Facility). On June 20, 2024, we borrowed $ 750 million on the credit facility in order to provide a portion of the Disposal Funding to GRAIL as part of the Spin-Off. The delayed draw term loan incurred interest at a rate of 6.7 %. On September 9, 2024, we repaid the full principal outstanding on the Delayed Draw Credit Facility, as well as accrued interest, in an aggregate amount of $ 761 million and terminated the Delayed Draw Credit Agreement. We recognized a loss on debt extinguishment of $ 5 million in 2024, included in interest expense in the consolidated statements of operations, related to the write-off of unamortized debt issuance costs. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> On June 17, 2024, we entered into a 364 -day delayed draw credit agreement (the Delayed Draw Credit Agreement), which provided us with a senior unsecured term loan credit facility in an aggregate principal amount of up to $ 750 million (the Delayed Draw Credit Facility). On June 20, 2024, we borrowed $ 750 million on the credit facility in order to provide a portion of the Disposal Funding to GRAIL as part of the Spin-Off. The delayed draw term loan incurred interest at a rate of 6.7 %. On September 9, 2024, we repaid the full principal outstanding on the Delayed Draw Credit Facility, as well as accrued interest, in an aggregate amount of $ 761 million and terminated the Delayed Draw Credit Agreement. We recognized a loss on debt extinguishment of $ 5 million in 2024, included in interest expense in the consolidated statements of operations, related to the write-off of unamortized debt issuance costs. </context> | us-gaap:DebtInstrumentFaceAmount |
On June 17, 2024, we entered into a 364 -day delayed draw credit agreement (the Delayed Draw Credit Agreement), which provided us with a senior unsecured term loan credit facility in an aggregate principal amount of up to $ 750 million (the Delayed Draw Credit Facility). On June 20, 2024, we borrowed $ 750 million on the credit facility in order to provide a portion of the Disposal Funding to GRAIL as part of the Spin-Off. The delayed draw term loan incurred interest at a rate of 6.7 %. On September 9, 2024, we repaid the full principal outstanding on the Delayed Draw Credit Facility, as well as accrued interest, in an aggregate amount of $ 761 million and terminated the Delayed Draw Credit Agreement. We recognized a loss on debt extinguishment of $ 5 million in 2024, included in interest expense in the consolidated statements of operations, related to the write-off of unamortized debt issuance costs. | text | 6.7 | percentItemType | text: <entity> 6.7 </entity> <entity type> percentItemType </entity type> <context> On June 17, 2024, we entered into a 364 -day delayed draw credit agreement (the Delayed Draw Credit Agreement), which provided us with a senior unsecured term loan credit facility in an aggregate principal amount of up to $ 750 million (the Delayed Draw Credit Facility). On June 20, 2024, we borrowed $ 750 million on the credit facility in order to provide a portion of the Disposal Funding to GRAIL as part of the Spin-Off. The delayed draw term loan incurred interest at a rate of 6.7 %. On September 9, 2024, we repaid the full principal outstanding on the Delayed Draw Credit Facility, as well as accrued interest, in an aggregate amount of $ 761 million and terminated the Delayed Draw Credit Agreement. We recognized a loss on debt extinguishment of $ 5 million in 2024, included in interest expense in the consolidated statements of operations, related to the write-off of unamortized debt issuance costs. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On June 17, 2024, we entered into a 364 -day delayed draw credit agreement (the Delayed Draw Credit Agreement), which provided us with a senior unsecured term loan credit facility in an aggregate principal amount of up to $ 750 million (the Delayed Draw Credit Facility). On June 20, 2024, we borrowed $ 750 million on the credit facility in order to provide a portion of the Disposal Funding to GRAIL as part of the Spin-Off. The delayed draw term loan incurred interest at a rate of 6.7 %. On September 9, 2024, we repaid the full principal outstanding on the Delayed Draw Credit Facility, as well as accrued interest, in an aggregate amount of $ 761 million and terminated the Delayed Draw Credit Agreement. We recognized a loss on debt extinguishment of $ 5 million in 2024, included in interest expense in the consolidated statements of operations, related to the write-off of unamortized debt issuance costs. | text | 761 | monetaryItemType | text: <entity> 761 </entity> <entity type> monetaryItemType </entity type> <context> On June 17, 2024, we entered into a 364 -day delayed draw credit agreement (the Delayed Draw Credit Agreement), which provided us with a senior unsecured term loan credit facility in an aggregate principal amount of up to $ 750 million (the Delayed Draw Credit Facility). On June 20, 2024, we borrowed $ 750 million on the credit facility in order to provide a portion of the Disposal Funding to GRAIL as part of the Spin-Off. The delayed draw term loan incurred interest at a rate of 6.7 %. On September 9, 2024, we repaid the full principal outstanding on the Delayed Draw Credit Facility, as well as accrued interest, in an aggregate amount of $ 761 million and terminated the Delayed Draw Credit Agreement. We recognized a loss on debt extinguishment of $ 5 million in 2024, included in interest expense in the consolidated statements of operations, related to the write-off of unamortized debt issuance costs. </context> | us-gaap:RepaymentsOfLongTermDebt |
On June 17, 2024, we entered into a 364 -day delayed draw credit agreement (the Delayed Draw Credit Agreement), which provided us with a senior unsecured term loan credit facility in an aggregate principal amount of up to $ 750 million (the Delayed Draw Credit Facility). On June 20, 2024, we borrowed $ 750 million on the credit facility in order to provide a portion of the Disposal Funding to GRAIL as part of the Spin-Off. The delayed draw term loan incurred interest at a rate of 6.7 %. On September 9, 2024, we repaid the full principal outstanding on the Delayed Draw Credit Facility, as well as accrued interest, in an aggregate amount of $ 761 million and terminated the Delayed Draw Credit Agreement. We recognized a loss on debt extinguishment of $ 5 million in 2024, included in interest expense in the consolidated statements of operations, related to the write-off of unamortized debt issuance costs. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> On June 17, 2024, we entered into a 364 -day delayed draw credit agreement (the Delayed Draw Credit Agreement), which provided us with a senior unsecured term loan credit facility in an aggregate principal amount of up to $ 750 million (the Delayed Draw Credit Facility). On June 20, 2024, we borrowed $ 750 million on the credit facility in order to provide a portion of the Disposal Funding to GRAIL as part of the Spin-Off. The delayed draw term loan incurred interest at a rate of 6.7 %. On September 9, 2024, we repaid the full principal outstanding on the Delayed Draw Credit Facility, as well as accrued interest, in an aggregate amount of $ 761 million and terminated the Delayed Draw Credit Agreement. We recognized a loss on debt extinguishment of $ 5 million in 2024, included in interest expense in the consolidated statements of operations, related to the write-off of unamortized debt issuance costs. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
0 % Convertible Senior Notes due 2023 (2023 Convertible Notes) | text | 0 | percentItemType | text: <entity> 0 </entity> <entity type> percentItemType </entity type> <context> 0 % Convertible Senior Notes due 2023 (2023 Convertible Notes) </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In August 2018, we issued $ 750 million aggregate principal amount of 2023 Convertible Notes. The notes were convertible into cash, shares of common stock or a combination of cash and shares of common stock, at our election, based on conversion rates as defined in the indenture. The 2023 Convertible Notes matured on August 15, 2023, at which time the principal was repaid in cash. We did not issue any shares of common stock. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> In August 2018, we issued $ 750 million aggregate principal amount of 2023 Convertible Notes. The notes were convertible into cash, shares of common stock or a combination of cash and shares of common stock, at our election, based on conversion rates as defined in the indenture. The 2023 Convertible Notes matured on August 15, 2023, at which time the principal was repaid in cash. We did not issue any shares of common stock. </context> | us-gaap:DebtInstrumentFaceAmount |
The 2023 Convertible Notes were initially accounted for in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by estimating the fair value of a similar liability that does not have an associated conversion feature. Because at issuance we had no outstanding non-convertible public debt, we determined that market-traded senior, unsecured corporate bonds represented a similar liability without a conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in our industry, and with similar maturities to the 2023 Convertible Notes, we estimated an implied interest rate of 3.7 %, assuming no conversion option. The estimated implied interest rate was applied to the 2023 Convertible Notes, which resulted in a fair value of the liability component in aggregate of $ 624 million upon issuance, calculated as the present value of implied future payments based on the $ 750 million aggregate principal amount. The $ 126 million difference ($ 93 million, net of tax) between the aggregate principal amount of $ 750 million and the estimated fair value of the liability component was recorded in additional paid-in capital as the 2023 Convertible Notes were not considered redeemable. As of January 3, 2022, we adopted ASU 2020-06, which removed the requirement to separate the embedded conversion feature from the notes and requires the notes to be accounted for as a single liability measured at amortized cost. Accordingly, we reclassified the unamortized debt discount from additional paid-in capital to convertible senior notes in the consolidated balance sheets on January 3, 2022. This resulted in an increase to retained earnings and a decrease to additional paid-in capital of $ 61 million and $ 93 million, respectively. | text | 3.7 | percentItemType | text: <entity> 3.7 </entity> <entity type> percentItemType </entity type> <context> The 2023 Convertible Notes were initially accounted for in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by estimating the fair value of a similar liability that does not have an associated conversion feature. Because at issuance we had no outstanding non-convertible public debt, we determined that market-traded senior, unsecured corporate bonds represented a similar liability without a conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in our industry, and with similar maturities to the 2023 Convertible Notes, we estimated an implied interest rate of 3.7 %, assuming no conversion option. The estimated implied interest rate was applied to the 2023 Convertible Notes, which resulted in a fair value of the liability component in aggregate of $ 624 million upon issuance, calculated as the present value of implied future payments based on the $ 750 million aggregate principal amount. The $ 126 million difference ($ 93 million, net of tax) between the aggregate principal amount of $ 750 million and the estimated fair value of the liability component was recorded in additional paid-in capital as the 2023 Convertible Notes were not considered redeemable. As of January 3, 2022, we adopted ASU 2020-06, which removed the requirement to separate the embedded conversion feature from the notes and requires the notes to be accounted for as a single liability measured at amortized cost. Accordingly, we reclassified the unamortized debt discount from additional paid-in capital to convertible senior notes in the consolidated balance sheets on January 3, 2022. This resulted in an increase to retained earnings and a decrease to additional paid-in capital of $ 61 million and $ 93 million, respectively. </context> | us-gaap:DebtInstrumentInterestRateEffectivePercentage |
The 2023 Convertible Notes were initially accounted for in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by estimating the fair value of a similar liability that does not have an associated conversion feature. Because at issuance we had no outstanding non-convertible public debt, we determined that market-traded senior, unsecured corporate bonds represented a similar liability without a conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in our industry, and with similar maturities to the 2023 Convertible Notes, we estimated an implied interest rate of 3.7 %, assuming no conversion option. The estimated implied interest rate was applied to the 2023 Convertible Notes, which resulted in a fair value of the liability component in aggregate of $ 624 million upon issuance, calculated as the present value of implied future payments based on the $ 750 million aggregate principal amount. The $ 126 million difference ($ 93 million, net of tax) between the aggregate principal amount of $ 750 million and the estimated fair value of the liability component was recorded in additional paid-in capital as the 2023 Convertible Notes were not considered redeemable. As of January 3, 2022, we adopted ASU 2020-06, which removed the requirement to separate the embedded conversion feature from the notes and requires the notes to be accounted for as a single liability measured at amortized cost. Accordingly, we reclassified the unamortized debt discount from additional paid-in capital to convertible senior notes in the consolidated balance sheets on January 3, 2022. This resulted in an increase to retained earnings and a decrease to additional paid-in capital of $ 61 million and $ 93 million, respectively. | text | 624 | monetaryItemType | text: <entity> 624 </entity> <entity type> monetaryItemType </entity type> <context> The 2023 Convertible Notes were initially accounted for in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by estimating the fair value of a similar liability that does not have an associated conversion feature. Because at issuance we had no outstanding non-convertible public debt, we determined that market-traded senior, unsecured corporate bonds represented a similar liability without a conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in our industry, and with similar maturities to the 2023 Convertible Notes, we estimated an implied interest rate of 3.7 %, assuming no conversion option. The estimated implied interest rate was applied to the 2023 Convertible Notes, which resulted in a fair value of the liability component in aggregate of $ 624 million upon issuance, calculated as the present value of implied future payments based on the $ 750 million aggregate principal amount. The $ 126 million difference ($ 93 million, net of tax) between the aggregate principal amount of $ 750 million and the estimated fair value of the liability component was recorded in additional paid-in capital as the 2023 Convertible Notes were not considered redeemable. As of January 3, 2022, we adopted ASU 2020-06, which removed the requirement to separate the embedded conversion feature from the notes and requires the notes to be accounted for as a single liability measured at amortized cost. Accordingly, we reclassified the unamortized debt discount from additional paid-in capital to convertible senior notes in the consolidated balance sheets on January 3, 2022. This resulted in an increase to retained earnings and a decrease to additional paid-in capital of $ 61 million and $ 93 million, respectively. </context> | us-gaap:ConvertibleDebtFairValueDisclosures |
The 2023 Convertible Notes were initially accounted for in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by estimating the fair value of a similar liability that does not have an associated conversion feature. Because at issuance we had no outstanding non-convertible public debt, we determined that market-traded senior, unsecured corporate bonds represented a similar liability without a conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in our industry, and with similar maturities to the 2023 Convertible Notes, we estimated an implied interest rate of 3.7 %, assuming no conversion option. The estimated implied interest rate was applied to the 2023 Convertible Notes, which resulted in a fair value of the liability component in aggregate of $ 624 million upon issuance, calculated as the present value of implied future payments based on the $ 750 million aggregate principal amount. The $ 126 million difference ($ 93 million, net of tax) between the aggregate principal amount of $ 750 million and the estimated fair value of the liability component was recorded in additional paid-in capital as the 2023 Convertible Notes were not considered redeemable. As of January 3, 2022, we adopted ASU 2020-06, which removed the requirement to separate the embedded conversion feature from the notes and requires the notes to be accounted for as a single liability measured at amortized cost. Accordingly, we reclassified the unamortized debt discount from additional paid-in capital to convertible senior notes in the consolidated balance sheets on January 3, 2022. This resulted in an increase to retained earnings and a decrease to additional paid-in capital of $ 61 million and $ 93 million, respectively. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> The 2023 Convertible Notes were initially accounted for in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by estimating the fair value of a similar liability that does not have an associated conversion feature. Because at issuance we had no outstanding non-convertible public debt, we determined that market-traded senior, unsecured corporate bonds represented a similar liability without a conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in our industry, and with similar maturities to the 2023 Convertible Notes, we estimated an implied interest rate of 3.7 %, assuming no conversion option. The estimated implied interest rate was applied to the 2023 Convertible Notes, which resulted in a fair value of the liability component in aggregate of $ 624 million upon issuance, calculated as the present value of implied future payments based on the $ 750 million aggregate principal amount. The $ 126 million difference ($ 93 million, net of tax) between the aggregate principal amount of $ 750 million and the estimated fair value of the liability component was recorded in additional paid-in capital as the 2023 Convertible Notes were not considered redeemable. As of January 3, 2022, we adopted ASU 2020-06, which removed the requirement to separate the embedded conversion feature from the notes and requires the notes to be accounted for as a single liability measured at amortized cost. Accordingly, we reclassified the unamortized debt discount from additional paid-in capital to convertible senior notes in the consolidated balance sheets on January 3, 2022. This resulted in an increase to retained earnings and a decrease to additional paid-in capital of $ 61 million and $ 93 million, respectively. </context> | us-gaap:DebtInstrumentFaceAmount |
The 2023 Convertible Notes were initially accounted for in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by estimating the fair value of a similar liability that does not have an associated conversion feature. Because at issuance we had no outstanding non-convertible public debt, we determined that market-traded senior, unsecured corporate bonds represented a similar liability without a conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in our industry, and with similar maturities to the 2023 Convertible Notes, we estimated an implied interest rate of 3.7 %, assuming no conversion option. The estimated implied interest rate was applied to the 2023 Convertible Notes, which resulted in a fair value of the liability component in aggregate of $ 624 million upon issuance, calculated as the present value of implied future payments based on the $ 750 million aggregate principal amount. The $ 126 million difference ($ 93 million, net of tax) between the aggregate principal amount of $ 750 million and the estimated fair value of the liability component was recorded in additional paid-in capital as the 2023 Convertible Notes were not considered redeemable. As of January 3, 2022, we adopted ASU 2020-06, which removed the requirement to separate the embedded conversion feature from the notes and requires the notes to be accounted for as a single liability measured at amortized cost. Accordingly, we reclassified the unamortized debt discount from additional paid-in capital to convertible senior notes in the consolidated balance sheets on January 3, 2022. This resulted in an increase to retained earnings and a decrease to additional paid-in capital of $ 61 million and $ 93 million, respectively. | text | 93 | monetaryItemType | text: <entity> 93 </entity> <entity type> monetaryItemType </entity type> <context> The 2023 Convertible Notes were initially accounted for in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by estimating the fair value of a similar liability that does not have an associated conversion feature. Because at issuance we had no outstanding non-convertible public debt, we determined that market-traded senior, unsecured corporate bonds represented a similar liability without a conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in our industry, and with similar maturities to the 2023 Convertible Notes, we estimated an implied interest rate of 3.7 %, assuming no conversion option. The estimated implied interest rate was applied to the 2023 Convertible Notes, which resulted in a fair value of the liability component in aggregate of $ 624 million upon issuance, calculated as the present value of implied future payments based on the $ 750 million aggregate principal amount. The $ 126 million difference ($ 93 million, net of tax) between the aggregate principal amount of $ 750 million and the estimated fair value of the liability component was recorded in additional paid-in capital as the 2023 Convertible Notes were not considered redeemable. As of January 3, 2022, we adopted ASU 2020-06, which removed the requirement to separate the embedded conversion feature from the notes and requires the notes to be accounted for as a single liability measured at amortized cost. Accordingly, we reclassified the unamortized debt discount from additional paid-in capital to convertible senior notes in the consolidated balance sheets on January 3, 2022. This resulted in an increase to retained earnings and a decrease to additional paid-in capital of $ 61 million and $ 93 million, respectively. </context> | us-gaap:AdditionalPaidInCapital |
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