
Inventories	March 28, 2026		December 27, 2025
	(In millions)
Raw materials	$	752	$	909
Work in process	4,748		4,768
Finished goods	2,545		2,243
Total inventories	$	8,045	$	7,920


Property and Equipment, net	March 28, 2026		December 27, 2025
	(In millions)
Land, building and leasehold improvements	$	1,034	$	967
Equipment	3,795		3,453
Construction in progress	646		508
Property and equipment, gross	5,475		4,928
Accumulated depreciation	(2,752)		(2,616)
Total property and equipment, net	$	2,723	$	2,312


Accrued Liabilities	March 28, 2026		December 27, 2025
	(In millions)
Customer-related liabilities	$	1,732	$	1,194
Accrued marketing programs	1,648		1,454
Accrued compensation and benefits	1,280		1,645
Other accrued expenses and liabilities	1,125		957
Total accrued liabilities	$	5,785	$	5,250

Revenue allocated to remaining performance obligations that are unsatisfied or partially unsatisfied include amounts received from customers and amounts that will be invoiced and recognized as revenue in future periods for development and engineering services, IP licensing, and product revenue. As of March 28, 2026, the aggregate transaction price allocated to remaining performance obligations under contracts with an original expected duration of more than one year was $264 million, of which $167 million is expected to be recognized in the next 12 months. The revenue allocated to remaining performance obligations does not include amounts which have an original expected duration of one year or less.

Revenue recognized over time associated with custom products and development services accounted for approximately 4% and 9% of the Company’s revenue for the three months ended March 28, 2026 and March 29, 2025, respectively.