CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions)
| September 28,
2019 (1) | December 29,
2018 (2) | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 1,156 | $ | 1,078 | ||||
| Marketable securities | 53 | 78 | ||||||
| Accounts receivable, net | 1,393 | 1,235 | ||||||
| Inventories, net | 1,040 | 845 | ||||||
| Prepayment and receivables - related parties | 17 | 34 | ||||||
| Prepaid expenses and other current assets | 253 | 270 | ||||||
| Total current assets | 3,912 | 3,540 | ||||||
| Property and equipment, net | 453 | 348 | ||||||
| Operating lease right-of use assets | 205 | — | ||||||
| Goodwill | 289 | 289 | ||||||
| Investment: equity method | 59 | 58 | ||||||
| Other assets | 335 | 321 | ||||||
| Total Assets | $ | 5,253 | $ | 4,556 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Current liabilities: | ||||||||
| Short-term debt, net | $ | — | $ | 136 | ||||
| Accounts payable | 763 | 834 | ||||||
| Payables to related parties | 215 | 207 | ||||||
| Accrued liabilities | 837 | 783 | ||||||
| Other current liabilities | 49 | 24 | ||||||
| Total current liabilities | 1,864 | 1,984 | ||||||
| Long-term debt, net | 872 | 1,114 | ||||||
| Long-term operating lease liabilities | 201 | — | ||||||
| Other long-term liabilities | 140 | 192 | ||||||
| Stockholders' equity: | ||||||||
| Capital stock: | ||||||||
| Common stock, par value | 11 | 10 | ||||||
| Additional paid-in capital | 9,490 | 8,750 | ||||||
| Treasury stock, at cost | (53 | ) | (50 | ) | ||||
| Accumulated deficit | (7,265 | ) | (7,436 | ) | ||||
| Accumulated other comprehensive loss | (7 | ) | (8 | ) | ||||
| Total Stockholders' equity | $ | 2,176 | $ | 1,266 | ||||
| Total Liabilities and Stockholders' Equity | $ | 5,253 | $ | 4,556 | ||||
| (1) During the first quarter of 2019, the Company adopted the new lease accounting standard, ASC 842, Leases, which resulted
in an increase to assets and liabilities for leases primarily related to office buildings. The adoption of this standard had no impact to the Company's results of operations or statement of cash flows. | ||||||||
| (2) During the second quarter of 2019, GLOBALFOUNDRIES Inc. (GF) ceased being a related party of the Company. All
prior period GF related party balances have been reclassified to conform to the current period presentation. | ||||||||
