NXP Semiconductors (NXPI) 10-Q 27 Apr 21 2021 Q1 Quarterly report Financial data

Cover Document

Cover Document - shares	3 Months Ended
	Apr. 04, 2021	Apr. 23, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 4, 2021
Document Transition Report	false
Entity File Number	001-34841
Entity Registrant Name	NXP Semiconductors N.V.
Entity Incorporation, State or Country Code	P7
Entity Tax Identification Number	98-1144352
Entity Address, Address Line One	60 High Tech Campus
Entity Address, City or Town	Eindhoven
Entity Address, Country	NL
Entity Address, Postal Zip Code	5656 AG
Country Region	+31
City Area Code	40
Local Phone Number	2729999
Title of 12(b) Security	Common shares, EUR 0.20 par value
Trading Symbol	NXPI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		275,750,318
Amendment Flag	false
Entity Central Index Key	0001413447
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Income Statement [Abstract]
Revenue	$ 2,567	$ 2,021
Cost of revenue	(1,212)	(1,024)
Gross profit	1,355	997
Research and development	(461)	(425)
Selling, general and administrative	(222)	(233)
Amortization of acquisition-related intangible assets	(180)	(381)
Total operating expenses	(863)	(1,039)
Other income (expense)	0	110
Operating income (loss)	492	68
Financial income (expense):
Other financial income (expense)	(87)	(78)
Income (loss) before income taxes	405	(10)
Benefit (provision) for income taxes	(40)	(2)
Results relating to equity-accounted investees	(1)	(1)
Net income (loss)	364	(13)
Less: Net income (loss) attributable to non-controlling interests	11	8
Net income (loss) attributable to stockholders	$ 353	$ (21)
Earnings per share data:
Basic net income (loss) (in dollars per share)	$ 1.27	$ (0.08)
Diluted net income (loss) (in dollars per share)	$ 1.25	$ (0.08)
Weighted average number of shares of common stock outstanding during the period (in thousands):
Basic (in shares)	277,526	279,933
Diluted (in shares)	283,263	279,933

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 364	$ (13)
Other comprehensive income (loss), net of tax:
Change in fair value cash flow hedges	(14)	(10)
Change in foreign currency translation adjustment	(42)	(49)
Change in net actuarial gain (loss)	0	(2)
Total other comprehensive income (loss)	(56)	(61)
Total comprehensive income (loss)	308	(74)
Less: Comprehensive income (loss) attributable to non-controlling interests	11	8
Total comprehensive income (loss) attributable to stockholders	$ 297	$ (82)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,842	$ 2,275
Accounts receivable, net	833	765
Inventories, net	1,056	1,030
Other current assets	293	254
Total current assets	4,024	4,324
Non-current assets:
Other non-current assets	1,039	1,013
Property, plant and equipment, net of accumulated depreciation of $4,344 and $4,237	2,304	2,284
Identified intangible assets, net of accumulated amortization of $7,118 and $7,007	2,057	2,242
Goodwill	9,968	9,984
Total non-current assets	15,368	15,523
Total assets	19,392	19,847
Current liabilities:
Accounts payable	1,033	991
Restructuring liabilities-current	42	60
Other current liabilities	1,190	966
Total current liabilities	2,265	2,017
Non-current liabilities:
Long-term debt	7,611	7,609
Restructuring liabilities	14	14
Deferred tax liabilities	85	85
Other non-current liabilities	896	971
Total non-current liabilities	8,606	8,679
Total liabilities	10,871	10,696
Equity:
Non-controlling interests	$ 218	$ 207
Common stock, par value (in euros per share)	$ 0.20	$ 0.20
Stockholders’ equity:
Common stock, par value €0.20 per share:	$ 59	$ 59
Capital in excess of par value	14,224	14,133
Treasury shares, at cost : 36,518,520 shares (2019: 34,082,242 shares)	(1,905)	(1,037)
Accumulated other comprehensive income (loss)	61	117
Accumulated deficit	(4,136)	(4,328)
Total stockholders’ equity	8,303	8,944
Total equity	8,521	9,151
Total liabilities and equity	$ 19,392	$ 19,847

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 4,344	$ 4,237
Accumulated amortization	$ 7,118	$ 7,007
Common stock, par value (in euros per share)	$ 0.20	$ 0.20
Treasury shares (in shares)	13,770,785	9,044,952

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Cash flows from operating activities:
Net income (loss)	$ 364	$ (13)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	341	540
Share-based compensation	91	107
Amortization of debt issuance costs	2	1
Net (gain) loss on sale of assets	0	(110)
(Gain) loss on equity security, net	(3)	0
Results relating to equity-accounted investees	1	1
Deferred tax expense (benefit)	12	(75)
Changes in operating assets and liabilities:
(Increase) decrease in receivables and other current assets	(95)	27
(Increase) decrease in inventories	(26)	(35)
Increase (decrease) in accounts payable and other liabilities	51	64
Decrease (increase) in other non-current assets	(8)	4
Exchange differences	(1)	(4)
Other items	3	5
Net cash provided by (used for) operating activities	732	512
Cash flows from investing activities:
Purchase of identified intangible assets	(37)	(45)
Capital expenditures on property, plant and equipment	(150)	(143)
Purchase of interests in businesses, net of cash acquired	0	(10)
Proceeds from sale of interests in businesses, net of cash divested	0	161
Purchase of investments	(2)	0
Proceeds from sale of investments	8	0
Net cash provided by (used for) investing activities	(181)	(37)
Cash flows from financing activities:
Dividends paid to common stockholders	(105)	(105)
Proceeds from issuance of common stock through stock plans	31	29
Purchase of treasury shares and restricted stock unit withholdings	(905)	(355)
Net cash provided by (used for) financing activities	(979)	(431)
Effect of changes in exchange rates on cash positions	(5)	(10)
Increase (decrease) in cash and cash equivalents	(433)	34
Cash and cash equivalents at beginning of period	2,275	1,045
Cash and cash equivalents at end of period	1,842	1,079
Net cash paid during the period for:
Interest	56	53
Income taxes, net of refunds	40	39
Cash proceeds from the sale of assets	0	161
Book value of these assets	0	(51)
Non-cash capital expenditures	$ 121	$ 78

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common stock	Capital in excess of par value	Treasury shares at cost	Accumulated other comprehensive income (loss)	Accumulated deficit	Total stock- holders’ equity	Non- controlling interests
Shares, Issued, Beginning Balance at Dec. 31, 2019		281,437
Beginning balance at Dec. 31, 2019	$ 9,655	$ 64	$ 15,184	$ (3,037)	$ 75	$ (2,845)	$ 9,441	$ 214
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(13)					(21)	(21)	8
Other comprehensive income	(61)				(61)		(61)
Share-based compensation plans	108		108				108
Shares issued pursuant to stock awards (in shares)		497
Shares issued pursuant to stock awards	29			47		(18)	29
Treasury share repurchase and retired (in shares)		(2,933)
Treasury shares repurchased and retired	(355)			(355)			(355)
Expiration of stock purchase warrants	0		(56)			56	0
Dividends common stock	(105)					(105)	(105)
Balance (in shares) at Mar. 29, 2020		279,001
Ending balance at Mar. 29, 2020	9,258	$ 64	15,236	(3,345)	14	(2,933)	9,036	222
Shares, Issued, Beginning Balance at Dec. 31, 2020		280,475
Beginning balance at Dec. 31, 2020	9,151	$ 59	14,133	(1,037)	117	(4,328)	8,944	207
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	364					353	353	11
Other comprehensive income	(56)				(56)		(56)
Share-based compensation plans	91		91				91
Shares issued pursuant to stock awards (in shares)		361
Shares issued pursuant to stock awards	31			37		(6)	31
Treasury share repurchase and retired (in shares)		(5,087)
Treasury shares repurchased and retired	(905)			(905)			(905)
Dividends common stock	(155)					(155)	(155)
Balance (in shares) at Apr. 04, 2021		275,749
Ending balance at Apr. 04, 2021	$ 8,521	$ 59	$ 14,224	$ (1,905)	$ 61	$ (4,136)	$ 8,303	$ 218

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Statement of Stockholders' Equity [Abstract]
Dividends common stock (in dollars per share)	$ 0.5625	$ 0.375

Basis of Presentation and Overv

Basis of Presentation and Overview	3 Months Ended
	Apr. 04, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Overview	Basis of Presentation and OverviewWe prepared our interim condensed consolidated financial statements that accompany these notes in conformity with U.S. generally accepted accounting principles, consistent in all material respects with those applied in our Annual Report on Form 10-K for the year ended December 31, 2020.We have made estimates and judgments affecting the amounts reported in our condensed consolidated financial statements and the accompanying notes. The actual results that we experience may differ materially from our estimates. The interim financial information is unaudited, but reflects all normal adjustments that are, in our opinion, necessary to provide a fair statement of results for the interim periods presented. This interim information should be read in conjunction with the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020.

Significant Accounting Policies

Significant Accounting Policies and Recent Accounting Pronouncements	3 Months Ended
	Apr. 04, 2021
Accounting Policies [Abstract]
Significant Accounting Policies and Recent Accounting Pronouncements	Significant Accounting Policies and Recent Accounting Pronouncements Significant Accounting Policies Except for the changes below, no material changes have been made to the Company's significant accounting policies disclosed in Note 2 Significant Accounting Policies in our Annual Report, 10-K for the year ended December 31, 2020. The accounting policy information below is to aid in the understanding of the financial information disclosed. Accounting standards recently adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 modifies ASC 740 to simplify the accounting for income taxes, removing certain exceptions to the general principles in ASC 740 and amending existing guidance to improve consistent application. ASU 2019-12 became effective for us on January 1, 2021. We have assessed our current positions and the interrelation to the amendments and the adoption of this update did not have a material impact on the Company's consolidated financial statements and related disclosures. No other new accounting pronouncements were issued or became effective in the period that had, or are expected to have, a material impact on our Consolidated Financial Statements.

Acquisitions and Divestments

Acquisitions and Divestments	3 Months Ended
	Apr. 04, 2021
Business Combinations [Abstract]
Acquisitions and Divestments	Acquisitions and Divestments 2021 There were no material acquisitions or divestments during the first three months of 2021. 2020 There were no material acquisitions during the first three months of 2020. On February 3, 2020, we completed the sale of the Company's Voice and Audio Solutions (VAS) assets, pursuant to the definitive agreement dated August 16, 2019 and which was previously classified as held for sale, with Shenzhen Goodix Technology Co., Ltd. ("Goodix") from China, for a net cash amount of $161 million inclusive of final working capital adjustments. This resulted in a gain of $110 million recorded in Other income (expense) on the Consolidated Statements of Operations.

Supplemental Financial Informat

Supplemental Financial Information	3 Months Ended
	Apr. 04, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Information	Supplemental Financial Information Statement of Operations Information: Disaggregation of revenue The following table presents revenue disaggregated by sales channel: For the three months ended April 4, 2021 March 29, 2020 Distributors 1,468 984 Original Equipment Manufacturers and Electronic Manufacturing Services 1,064 1,000 Other 35 37 Total 2,567 2,021 Depreciation, amortization and impairment For the three months ended April 4, 2021 March 29, 2020 Depreciation of property, plant and equipment 132 133 Amortization of internal use software 2 2 Amortization of other identified intangible assets 1) 207 405 Total - Depreciation, amortization and impairment 341 540 1) For the three month period ending April 4, 2021, the amount includes an impairment charge as a result of the discontinuation of an IPR&D project for an amount of $36 million. Other income (expense) Income derived from manufacturing service arrangements (“MSA”) and transitional service arrangements (“TSA”) that are put in place when we divest a business or activity, is included in other income (expense). These arrangements are short-term in nature and are expected to decrease as the divested business or activity becomes more established. The following table presents the split of other income (expense): For the three months ended April 4, 2021 March 29, 2020 Result from MSA and TSA arrangements (1) — Other, net 1 110 Total - Other income (expense) — 110 Financial income and expense For the three months ended April 4, 2021 March 29, 2020 Interest income 1 4 Interest expense (87) (82) Total interest expense, net (86) (78) Foreign exchange rate results 1 4 Miscellaneous financing costs/income and other, net (2) (4) Total other financial income/ (expense) (1) — Total - Financial income and expenses (87) (78) Earnings per share The computation of earnings per share (EPS) is presented in the following table: For the three months ended April 4, 2021 March 29, 2020 Net income (loss) 364 (13) Less: net income (loss) attributable to non-controlling interests 11 8 Net income (loss) attributable to stockholders 353 (21) Weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) 277,526 279,933 Plus incremental shares from assumed conversion of: Options 1) 416 — Restricted Share Units, Performance Share Units and Equity Rights 2) 5,321 — Warrants 3) — — Dilutive potential common shares 5,737 — Adjusted weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) 283,263 279,933 EPS attributable to stockholders in $: Basic net income (loss) 1.27 (0.08) Diluted net income (loss) 1.25 (0.08) 1) There were no stock options to purchase shares of NXP’s common stock that were outstanding in Q1 2021 (Q1 2020: 1.1 million shares) that were anti-dilutive and were not included in the computation of diluted EPS because the exercise price was greater than the average fair market value of the common stock or the number of shares assumed to be repurchased using the proceeds of unrecognized compensation expense and exercise prices was greater than the weighted average number of shares underlying outstanding stock options. 2) There were no unvested RSUs, PSUs and equity rights that were outstanding in Q1 2021 (Q1 2020: 7.9 million shares) that were anti-dilutive and were not included in the computation of diluted EPS because the number of shares assumed to be repurchased using the proceeds of unrecognized compensation expense was greater than the weighted average number of outstanding unvested RSUs, PSUs and equity rights or the performance goal has not been met yet. 3) Warrants to purchase up to 7.6 million shares of NXP's common stock at a price of $130.46 per share were outstanding in Q1 2020, no warrants were outstanding at the end of Q1 2021. At the end of Q1 2020, the warrants were not included in the computation of diluted EPS because the warrants exercise price was greater than the average fair market value of the common shares. Balance Sheet Information Cash and cash equivalents At April 4, 2021 and December 31, 2020, our cash balance was $1,842 million and $2,275 million, respectively, of which $192 million and $185 million was held by SSMC, our consolidated joint venture company with TSMC. Under the terms of our joint venture agreement with TSMC, a portion of this cash can be distributed by way of a dividend to us, but 38.8% of the dividend will be paid to our joint venture partner. Inventories The portion of finished goods stored at customer locations under consignment amounted to $29 million as of April 4, 2021 (December 31, 2020: $31 million). Inventories are summarized as follows: April 4, 2021 December 31, 2020 Raw materials 71 66 Work in process 795 786 Finished goods 190 178 1,056 1,030 The amounts recorded above are net of allowance for obsolescence of $124 million as of April 4, 2021 (December 31, 2020: $122 million). Equity Investments At April 4, 2021 and December 31, 2020, the total carrying value of investments in equity securities is summarized as follows: April 4, 2021 December 31, 2020 Marketable equity securities 23 19 Non-marketable equity securities 24 40 Equity-accounted investments 67 61 114 120 The total carrying value of investments in equity-accounted investees is summarized as follows: April 4, 2021 December 31, 2020 Shareholding % Amount Shareholding % Amount Wise Road Industry Investment Fund I, L.P. 10.17 % 31 10.17 % 29 Others — 36 — 32 67 61 Results related to equity-accounted investees at the end of each period were as follows: For the three months ended April 4, 2021 March 29, 2020 Company’s share in income (loss) (1) (1) Other results — — (1) (1) Accumulated other comprehensive income (loss) Total comprehensive income (loss) represents net income (loss) plus the results of certain equity changes not reflected in the condensed consolidated statements of operations. The after-tax components of accumulated other comprehensive income (loss) and their corresponding changes are shown below: Currency Change in fair Net actuarial Accumulated As of December 31, 2020 281 11 (175) 117 Other comprehensive income (loss) before (42) (11) — (53) Amounts reclassified out of accumulated other — (8) — (8) Tax effects — 5 — 5 Other comprehensive income (loss) (42) (14) — (56) As of April 4, 2021 239 (3) (175) 61 Cash dividends The following dividends were declared during the first quarters of 2021 and 2020 under NXP’s quarterly dividend program: Fiscal year 2021 Fiscal year 2020 Dividend per share Amount Dividend per share Amount First quarter 0.5625 155 0.375 105 The dividend declared in the first quarter (not yet paid) is classified in the condensed consolidated balance sheet in other current liabilities as of April 4, 2021 and was subsequently paid on April 5, 2021.

Restructuring

Restructuring	3 Months Ended
	Apr. 04, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring At each reporting date, we evaluate our restructuring liabilities, which consist primarily of termination benefits, to ensure that our accruals are still appropriate. The following table presents the changes in restructuring liabilities in 2021: As of January 1, 2021 Additions Utilized Released Other As of April 4, 2021 Restructuring liabilities 74 — (17) — (1) 56 There were no restructuring costs incurred for the three month period ended April 4, 2021 (March 29, 2020 : $11 million). These restructuring charges recorded in operating income, for the prior period indicated, are included in the following line items in the statement of operations: For the three months ended March 29, 2020 Cost of revenue 3 Research and development 4 Selling, general and administrative 4 Net restructuring charges 11

Income Taxes

Income Taxes	3 Months Ended
	Apr. 04, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Benefit/provision for income taxes: For the three months ended April 4, 2021 March 29, 2020 Tax expense (benefit) 40 2 Effective tax rate 9.9 % 20.0 % Our effective tax rate reflects the impact of tax incentives, non-deductible expenses, change in valuation allowance, a portion of our earnings being taxed in foreign jurisdictions at rates different than the Netherlands statutory tax rate and the relative mix of income and losses across those jurisdictions. Our effective tax rate for the first three months of 2021 was 9.9% compared to 20.0% for the first three months of 2020. The movement in our effective tax rate relates mainly to tax benefits as a result of changes in estimates ($16 million) and an increase in tax incentives in various tax jurisdictions as a result of the improved business performance compared to the prior year quarter ($10 million). In the first quarter of 2020 there was a non-deductible goodwill charge related to the divestiture of the VAS business ($10 million). The Company benefits from income tax incentives in certain jurisdictions which provide that we pay reduced income taxes in those jurisdictions for a fixed period of time that varies depending on the jurisdiction. The predominant income tax holiday is expected to expire at the end of 2026. The impact of this tax holiday decreased foreign income taxes for the first quarter of 2021 by $4 million and decreased by $3 million for the first quarter 2020. The benefit of this tax holiday on net income per share (diluted) was $0.01 for the first quarter of 2021 and $0.01 for the first quarter of 2020.

Identified Intangible Assets

Identified Intangible Assets	3 Months Ended
	Apr. 04, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Identified Intangible Assets	Identified Intangible Assets Identified intangible assets as of April 4, 2021 and December 31, 2020, respectively, were composed of the following: April 4, 2021 December 31, 2020 Gross carrying Accumulated Gross carrying Accumulated In-process R&D (IPR&D) 1) 111 — 147 — Marketing-related 81 (81) 81 (81) Customer-related 911 (348) 957 (381) Technology-based 8,072 (6,689) 8,064 (6,545) Identified intangible assets 9,175 (7,118) 9,249 (7,007) (1) IPR&D is not subject to amortization until completion or abandonment of the associated research and development effort. The estimated amortization expense for these identified intangible assets for each of the five succeeding years is: 2021 (remaining) 506 2022 575 2023 341 2024 150 2025 99 Thereafter 386 All intangible assets, excluding IPR&D and goodwill, are subject to amortization and have no assumed residual value. The expected weighted average remaining life of identified intangibles is 4 years as of April 4, 2021 (December 31, 2020: 4 years).

Debt

Debt	3 Months Ended
	Apr. 04, 2021
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes the outstanding debt as of April 4, 2021 and December 31, 2020: April 4, 2021 December 31, 2020 Maturities Amount Effective Amount Effective Fixed-rate 3.875% senior unsecured notes Sep, 2022 1,000 3.875 1,000 3.875 Fixed-rate 4.625% senior unsecured notes Jun, 2023 900 4.625 900 4.625 Fixed-rate 4.875% senior unsecured notes Mar, 2024 1,000 4.875 1,000 4.875 Fixed-rate 2.7% senior unsecured notes May, 2025 500 2.700 500 2.700 Fixed-rate 5.35% senior unsecured notes Mar, 2026 500 5.350 500 5.350 Fixed-rate 3.875% senior unsecured notes Jun, 2026 750 3.875 750 3.875 Fixed-rate 3.15% senior unsecured notes May, 2027 500 3.150 500 3.150 Fixed-rate 5.55% senior unsecured notes Dec, 2028 500 5.550 500 5.550 Fixed-rate 4.3% senior unsecured notes Jun, 2029 1,000 4.300 1,000 4.300 Fixed-rate 3.4% senior unsecured notes May, 2030 1,000 3.400 1,000 3.400 Floating-rate revolving credit facility (RCF) Jun, 2024 — — — — Total principal 7,650 7,650 Unamortized discounts, premiums and debt (39) (41) Total debt, including unamortized discounts, 7,611 7,609 Current portion of long-term debt — — Long-term debt 7,611 7,609

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Apr. 04, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions The Company's related parties are the members of the board of directors of NXP Semiconductors N.V., the members of the management team of NXP Semiconductors N.V. and equity-accounted investees. The following table presents the amounts related to revenue and other income and purchase of goods and services incurred in transactions with these related parties: For the three months ended April 4, 2021 March 29, 2020 Revenue and other income 2 18 Purchase of goods and services 1 12 The following table presents the amounts related to receivable and payable balances with these related parties: April 4, 2021 December 31, 2020 Receivables 1 3 Payables 7 7

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 04, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table summarizes the estimated fair value of our financial instruments which are measured at fair value on a recurring basis: Estimated fair value Fair value April 4, 2021 December 31, 2020 Assets: Money market funds 1 814 1,469 Marketable equity securities 1 23 19 Derivative instruments-assets 2 3 18 Liabilities: Derivative instruments-liabilities 2 (9) — The following methods and assumptions were used to estimate the fair value of financial instruments: Assets and liabilities measured at fair value on a recurring basis Investments in money market funds (as part of our cash and cash equivalents) and marketable equity securities (as part of other non-current assets) have fair value measurements which are all based on quoted prices in active markets for identical assets or liabilities. For derivatives (as part of other current assets or accrued liabilities) the fair value is based upon significant other observable inputs depending on the nature of the derivative. Assets and liabilities recorded at fair value on a non-recurring basis We measure and record our non-marketable equity securities, equity method investments and non-financial assets, such as intangible assets and property, plant and equipment, at fair value when an impairment charge is required. Assets and liabilities not recorded at fair value on a recurring basis Financial instruments not recorded at fair value on a recurring basis include non-marketable equity securities and equity method investments that have not been remeasured or impaired in the current period and debt. As of April 4, 2021, the estimated fair value of debt, including the current portion, was $8.4 billion ($8.6 billion as of December 31, 2020). The fair value is estimated on the basis of broker-dealer quotes, which are Level 2 inputs. Accrued interest is included under accrued liabilities and not within the carrying amount or estimated fair value of debt.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	Commitments and Contingencies Purchase Commitments The Company maintains purchase commitments with certain suppliers, primarily for raw materials, semi-finished goods and manufacturing services and for some non-production items. Purchase commitments for inventory materials are generally restricted to a forecasted time-horizon as mutually agreed upon between the parties. This forecasted time-horizon can vary for different suppliers. As of April 4, 2021, the Company had purchase commitments of $1,048 million, which are due through 2044. Our long-term obligations increased substantially as we locked in long-term supply with our key manufacturing partners. Litigation We are regularly involved as plaintiffs or defendants in claims and litigation relating to a variety of matters such as contractual disputes, personal injury claims, employee grievances and intellectual property litigation. In addition, our acquisitions, divestments and financial transactions sometimes result in, or are followed by, claims or litigation. Some of these claims may possibly be recovered from insurance reimbursements. Although the ultimate disposition of asserted claims cannot be predicted with certainty, it is our belief that the outcome of any such claims, either individually or on a combined basis, will not have a material adverse effect on our consolidated financial position. However, such outcomes may be material to our condensed consolidated statement of operations for a particular period. The Company records an accrual for any claim that arises whenever it considers that it is probable that it is exposed to a loss contingency and the amount of the loss contingency can be reasonably estimated. The Company does not record a gain contingency until the period in which all contingencies are resolved and the gain is realized or realizable. Legal fees are expensed when incurred. Based on the most current information available to it and based on its best estimate, the Company also reevaluates at least on a quarterly basis the claims that have arisen to determine whether any new accruals need to be made or whether any accruals made need to be adjusted. Based on the procedures described above, the Company has an aggregate amount of $17 million accrued for potential and current legal proceedings pending as of April 4, 2021, compared to $17 million accrued at December 31, 2020. The accruals are included in “Other current liabilities” and “Other non-current liabilities”. As of April 4, 2021, the Company’s related balance of insurance reimbursements was $8 million (December 31, 2020: $8 million) and is included in “Other current assets” and “Other non-current assets”. The Company also estimates the aggregate range of reasonably possible losses in excess of the amount accrued based on currently available information for those cases for which such estimate can be made. The estimated aggregate range requires significant judgment, given the varying stages of the proceedings (including the fact that many of them are currently in preliminary stages), the existence of multiple defendants (including the Company) in such claims whose share of liability has yet to be determined, the numerous yet-unresolved issues in many of the claims, and the attendant uncertainty of the various potential outcomes of such claims. Accordingly, the Company’s estimate will change from time to time, and actual losses may be more than the current estimate. As at April 4, 2021, the Company believes that for all litigation pending its potential aggregate exposure to loss in excess of the amount accrued (without reduction for any amounts that may possibly be recovered under insurance programs) could range between $0 and $23 million. Based upon our past experience with these matters, the Company would expect to receive insurance reimbursement on certain of these claims that would offset the potential maximum exposure of up to $15 million. In addition, the Company is currently assisting Motorola in the defense of personal injury lawsuits due to indemnity obligations included in the agreement that separated Freescale from Motorola in 2004. The multi-plaintiff Motorola lawsuits are pending in Cook County, Illinois. These claims allege a link between working in semiconductor manufacturing clean room facilities and birth defects in 18 individuals. The Motorola suits allege exposures between 1981 and 2005. Each claim seeks an unspecified amount of damages for the alleged injuries; however, legal counsel representing the plaintiffs has indicated they will seek substantial compensatory and punitive damages from Motorola for the entire inventory of claims which, if proven and recovered, the Company considers to be material. In the Motorola suits, a portion of any indemnity due to Motorola will be reimbursed to NXP if Motorola receives an indemnification payment from its insurance coverage. Motorola has potential insurance coverage for many of the years indicated above, but with differing types and levels of coverage, self-insurance retention amounts and deductibles. We are in discussions with Motorola and their insurers regarding the availability of applicable insurance coverage for each of the individual cases. Motorola and NXP have denied liability for these alleged injuries based on numerous defenses.

Significant Accounting Polici_2

Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	3 Months Ended
	Apr. 04, 2021
Accounting Policies [Abstract]
Recently adopted accounting pronouncements	Accounting standards recently adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 modifies ASC 740 to simplify the accounting for income taxes, removing certain exceptions to the general principles in ASC 740 and amending existing guidance to improve consistent application. ASU 2019-12 became effective for us on January 1, 2021. We have assessed our current positions and the interrelation to the amendments and the adoption of this update did not have a material impact on the Company's consolidated financial statements and related disclosures. No other new accounting pronouncements were issued or became effective in the period that had, or are expected to have, a material impact on our Consolidated Financial Statements.

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	3 Months Ended
	Apr. 04, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Disaggregation of revenue	The following table presents revenue disaggregated by sales channel: For the three months ended April 4, 2021 March 29, 2020 Distributors 1,468 984 Original Equipment Manufacturers and Electronic Manufacturing Services 1,064 1,000 Other 35 37 Total 2,567 2,021
Depreciation Amortization And Impairment Charges [Table Text Block]	For the three months ended April 4, 2021 March 29, 2020 Depreciation of property, plant and equipment 132 133 Amortization of internal use software 2 2 Amortization of other identified intangible assets 1) 207 405 Total - Depreciation, amortization and impairment 341 540 1) For the three month period ending April 4, 2021, the amount includes an impairment charge as a result of the discontinuation of an IPR&D project for an amount of $36 million.
Schedule of other income (expense)	The following table presents the split of other income (expense): For the three months ended April 4, 2021 March 29, 2020 Result from MSA and TSA arrangements (1) — Other, net 1 110 Total - Other income (expense) — 110
Schedule of financial income and expense	For the three months ended April 4, 2021 March 29, 2020 Interest income 1 4 Interest expense (87) (82) Total interest expense, net (86) (78) Foreign exchange rate results 1 4 Miscellaneous financing costs/income and other, net (2) (4) Total other financial income/ (expense) (1) — Total - Financial income and expenses (87) (78)
Schedule of earnings per share	The computation of earnings per share (EPS) is presented in the following table: For the three months ended April 4, 2021 March 29, 2020 Net income (loss) 364 (13) Less: net income (loss) attributable to non-controlling interests 11 8 Net income (loss) attributable to stockholders 353 (21) Weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) 277,526 279,933 Plus incremental shares from assumed conversion of: Options 1) 416 — Restricted Share Units, Performance Share Units and Equity Rights 2) 5,321 — Warrants 3) — — Dilutive potential common shares 5,737 — Adjusted weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) 283,263 279,933 EPS attributable to stockholders in $: Basic net income (loss) 1.27 (0.08) Diluted net income (loss) 1.25 (0.08) 1) There were no stock options to purchase shares of NXP’s common stock that were outstanding in Q1 2021 (Q1 2020: 1.1 million shares) that were anti-dilutive and were not included in the computation of diluted EPS because the exercise price was greater than the average fair market value of the common stock or the number of shares assumed to be repurchased using the proceeds of unrecognized compensation expense and exercise prices was greater than the weighted average number of shares underlying outstanding stock options. 2) There were no unvested RSUs, PSUs and equity rights that were outstanding in Q1 2021 (Q1 2020: 7.9 million shares) that were anti-dilutive and were not included in the computation of diluted EPS because the number of shares assumed to be repurchased using the proceeds of unrecognized compensation expense was greater than the weighted average number of outstanding unvested RSUs, PSUs and equity rights or the performance goal has not been met yet. 3) Warrants to purchase up to 7.6 million shares of NXP's common stock at a price of $130.46 per share were outstanding in Q1 2020, no warrants were outstanding at the end of Q1 2021. At the end of Q1 2020, the warrants were not included in the computation of diluted EPS because the warrants exercise price was greater than the average fair market value of the common shares.
Schedule of inventories	Inventories are summarized as follows: April 4, 2021 December 31, 2020 Raw materials 71 66 Work in process 795 786 Finished goods 190 178 1,056 1,030
Marketable Securities	At April 4, 2021 and December 31, 2020, the total carrying value of investments in equity securities is summarized as follows: April 4, 2021 December 31, 2020 Marketable equity securities 23 19 Non-marketable equity securities 24 40 Equity-accounted investments 67 61 114 120
Summary of Carrying Value of Investments in Equity-Accounted Investees	The total carrying value of investments in equity-accounted investees is summarized as follows: April 4, 2021 December 31, 2020 Shareholding % Amount Shareholding % Amount Wise Road Industry Investment Fund I, L.P. 10.17 % 31 10.17 % 29 Others — 36 — 32 67 61
Results Relating to Equity-Accounted Investees	Results related to equity-accounted investees at the end of each period were as follows: For the three months ended April 4, 2021 March 29, 2020 Company’s share in income (loss) (1) (1) Other results — — (1) (1)
Schedule of accumulated other comprehensive income (loss)	The after-tax components of accumulated other comprehensive income (loss) and their corresponding changes are shown below: Currency Change in fair Net actuarial Accumulated As of December 31, 2020 281 11 (175) 117 Other comprehensive income (loss) before (42) (11) — (53) Amounts reclassified out of accumulated other — (8) — (8) Tax effects — 5 — 5 Other comprehensive income (loss) (42) (14) — (56) As of April 4, 2021 239 (3) (175) 61
Schedule of cash dividends	The following dividends were declared during the first quarters of 2021 and 2020 under NXP’s quarterly dividend program: Fiscal year 2021 Fiscal year 2020 Dividend per share Amount Dividend per share Amount First quarter 0.5625 155 0.375 105

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Apr. 04, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following table presents the changes in restructuring liabilities in 2021: As of January 1, 2021 Additions Utilized Released Other As of April 4, 2021 Restructuring liabilities 74 — (17) — (1) 56 These restructuring charges recorded in operating income, for the prior period indicated, are included in the following line items in the statement of operations: For the three months ended March 29, 2020 Cost of revenue 3 Research and development 4 Selling, general and administrative 4 Net restructuring charges 11

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Apr. 04, 2021
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefits) and Effective Tax Rates	Benefit/provision for income taxes: For the three months ended April 4, 2021 March 29, 2020 Tax expense (benefit) 40 2 Effective tax rate 9.9 % 20.0 %

Identified Intangible Assets (T

Identified Intangible Assets (Tables)	3 Months Ended
	Apr. 04, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Identified Intangible Assets	Identified intangible assets as of April 4, 2021 and December 31, 2020, respectively, were composed of the following: April 4, 2021 December 31, 2020 Gross carrying Accumulated Gross carrying Accumulated In-process R&D (IPR&D) 1) 111 — 147 — Marketing-related 81 (81) 81 (81) Customer-related 911 (348) 957 (381) Technology-based 8,072 (6,689) 8,064 (6,545) Identified intangible assets 9,175 (7,118) 9,249 (7,007) (1) IPR&D is not subject to amortization until completion or abandonment of the associated research and development effort.
Schedule of Estimated Amortization Expense	The estimated amortization expense for these identified intangible assets for each of the five succeeding years is: 2021 (remaining) 506 2022 575 2023 341 2024 150 2025 99 Thereafter 386

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 04, 2021
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The following table summarizes the outstanding debt as of April 4, 2021 and December 31, 2020: April 4, 2021 December 31, 2020 Maturities Amount Effective Amount Effective Fixed-rate 3.875% senior unsecured notes Sep, 2022 1,000 3.875 1,000 3.875 Fixed-rate 4.625% senior unsecured notes Jun, 2023 900 4.625 900 4.625 Fixed-rate 4.875% senior unsecured notes Mar, 2024 1,000 4.875 1,000 4.875 Fixed-rate 2.7% senior unsecured notes May, 2025 500 2.700 500 2.700 Fixed-rate 5.35% senior unsecured notes Mar, 2026 500 5.350 500 5.350 Fixed-rate 3.875% senior unsecured notes Jun, 2026 750 3.875 750 3.875 Fixed-rate 3.15% senior unsecured notes May, 2027 500 3.150 500 3.150 Fixed-rate 5.55% senior unsecured notes Dec, 2028 500 5.550 500 5.550 Fixed-rate 4.3% senior unsecured notes Jun, 2029 1,000 4.300 1,000 4.300 Fixed-rate 3.4% senior unsecured notes May, 2030 1,000 3.400 1,000 3.400 Floating-rate revolving credit facility (RCF) Jun, 2024 — — — — Total principal 7,650 7,650 Unamortized discounts, premiums and debt (39) (41) Total debt, including unamortized discounts, 7,611 7,609 Current portion of long-term debt — — Long-term debt 7,611 7,609

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	3 Months Ended
	Apr. 04, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table presents the amounts related to revenue and other income and purchase of goods and services incurred in transactions with these related parties: For the three months ended April 4, 2021 March 29, 2020 Revenue and other income 2 18 Purchase of goods and services 1 12
Schedule Of Amounts Receivable From And Payable To Related Parties	The following table presents the amounts related to receivable and payable balances with these related parties: April 4, 2021 December 31, 2020 Receivables 1 3 Payables 7 7

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 04, 2021
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	The following table summarizes the estimated fair value of our financial instruments which are measured at fair value on a recurring basis: Estimated fair value Fair value April 4, 2021 December 31, 2020 Assets: Money market funds 1 814 1,469 Marketable equity securities 1 23 19 Derivative instruments-assets 2 3 18 Liabilities: Derivative instruments-liabilities 2 (9) —

Acquisitions and Divestments (D

Acquisitions and Divestments (Details) $ in Millions	Feb. 03, 2020USD ($)	Apr. 04, 2021business	Mar. 29, 2020business
Business Acquisition [Line Items]
Number of businesses acquired | business		0	0
Voice and Audio Solutions | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Price of assets acquired	$ 161
Gain on disposal	$ 110

Supplemental Financial Inform_3

Supplemental Financial Information - Disaggregation of revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 2,567	$ 2,021
Distributors
Disaggregation of Revenue [Line Items]
Revenue	1,468	984
Original Equipment Manufacturers and Electronic Manufacturing Services
Disaggregation of Revenue [Line Items]
Revenue	1,064	1,000
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 35	$ 37

Supplemental Financial Inform_4

Supplemental Financial Information - Depreciation, amortization and impairment (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Finite-Lived Intangible Assets [Line Items]
Depreciation of property, plant and equipment	$ 132	$ 133
Total - Depreciation, amortization and impairment	341	540
Internal Use Software
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	2	2
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	207	$ 405
Other Intangible Assets | Marvell
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 36

Supplemental Financial Inform_5

Supplemental Financial Information - Other income (expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Other Nonrecurring Income (Expense) [Line Items]
Other, net	$ 1	$ 110
Total - Other income (expense)	0	110
Manufacturing Service Arrangements and Transitional Service Arrangements
Other Nonrecurring Income (Expense) [Line Items]
Result from MSA and TSA arrangements	$ (1)	$ 0

Supplemental Financial Inform_6

Supplemental Financial Information - Financial income and expense (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest income	$ 1	$ 4
Interest expense	(87)	(82)
Total interest expense, net	(86)	(78)
Foreign exchange rate results	1	4
Miscellaneous financing costs/income and other, net	(2)	(4)
Total other financial income/ (expense)	(1)	0
Total - Financial income and expenses	$ (87)	$ (78)

Supplemental Financial Inform_7

Supplemental Financial Information - Earnings per share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss)	$ 364	$ (13)
Less: Net income (loss) attributable to non-controlling interests	11	8
Net income (loss) attributable to stockholders	$ 353	$ (21)
Basic (in shares)	277,526,000	279,933,000
Options (in shares)	416,000	0
Restricted Share Units, Performance Share Units and Equity Rights (in shares)	5,321,000	0
Warrants (in shares)	0	0
Dilutive potential common shares (in shares)	5,737,000	0
Adjusted weighted average number of shares outstanding (after deduction of treasury shares) during the year (in thousands) (in shares)	283,263,000	279,933,000
Basic net income (loss) (in dollars per share)	$ 1.27	$ (0.08)
Diluted net income (loss) (in dollars per share)	$ 1.25	$ (0.08)
Maximum | Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	1,100,000
Maximum | Restricted Stock Units Performance Share Units And Equity Rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	7,900,000
Maximum | Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	7,600,000
Common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of warrants or rights (in dollars per share)		$ 130.46

Supplemental Financial Inform_8

Supplemental Financial Information - Cash and cash equivalents (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 1,842		$ 2,275
Dividends	155	$ 105
SSMC
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 192		$ 185
SSMC | TSMC
Cash and Cash Equivalents [Line Items]
Ownership percentage by noncontrolling owners	38.80%

Supplemental Financial Inform_9

Supplemental Financial Information - Inventories (Details) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished goods under consignment	$ 29	$ 31
Raw materials	71	66
Work in process	795	786
Finished goods	190	178
Inventory, Net	1,056	1,030
Allowance for obsolescence	$ 124	$ 122

Supplemental Financial Infor_10

Supplemental Financial Information (Details) - Equity investments - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Marketable equity securities	$ 23	$ 19
Other Investments	24	40
Equity Method Investments	67	61
Investments	$ 114	$ 120

Supplemental Financial Infor_11

Supplemental Financial Information - Accumulated other comprehensive income (loss) (Details) $ in Millions	3 Months Ended
	Apr. 04, 2021USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 9,151
Other comprehensive income (loss) before reclassifications	(53)
Amounts reclassified out of accumulated other comprehensive income (loss)	(8)
Other comprehensive income (loss)	5
Other comprehensive income (loss)	(56)
Ending balance	8,521
Currency  translation differences
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	281
Other comprehensive income (loss) before reclassifications	(42)
Amounts reclassified out of accumulated other comprehensive income (loss)	0
Other comprehensive income (loss)	0
Other comprehensive income (loss)	(42)
Ending balance	239
Change in fair  value cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	11
Other comprehensive income (loss) before reclassifications	(11)
Amounts reclassified out of accumulated other comprehensive income (loss)	(8)
Other comprehensive income (loss)	5
Other comprehensive income (loss)	(14)
Ending balance	(3)
Net actuarial gain/(losses)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(175)
Other comprehensive income (loss) before reclassifications	0
Amounts reclassified out of accumulated other comprehensive income (loss)	0
Other comprehensive income (loss)	0
Other comprehensive income (loss)	0
Ending balance	(175)
Accumulated other comprehensive income (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	117
Ending balance	$ 61

Supplemental Financial Infor_12

Supplemental Financial Information - Cash dividends (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Dividends common stock (in dollars per share)	$ 0.5625	$ 0.375
Dividends	$ 155	$ 105

Supplemental Financial Infor_13

Supplemental Financial Information - Summary of carrying value of investments in equity-accounted investees (Details) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 67	$ 61
Wiseroad
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	10.17%	10.17%
Equity Method Investments	$ 31	$ 29
Others
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	0.00%	0.00%
Equity Method Investments	$ 36	$ 32

Supplemental Financial Infor_14

Supplemental Financial Information - Results relating to equity-accounted investees (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Income Loss from Equity Method Investments Before Extraordinary Items	$ (1)	$ (1)
Extraordinary Income Loss From Equity Method Investments	0	0
Income (Loss) from Equity Method Investments	$ (1)	$ (1)

Restructuring - Change in Restr

Restructuring - Change in Restructuring Reserve (Details) $ in Millions	3 Months Ended
	Apr. 04, 2021USD ($)
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	$ 74
Additions	0
Utilized	(17)
Released	0
Other changes	(1)
Restructuring liability, ending balance	$ 56

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 11
Personnel lay-off costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 11

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Charges Recorded in Operating Income (Details) $ in Millions	3 Months Ended
	Mar. 29, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Net restructuring charges	$ 11
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Net restructuring charges	3
Research and development
Restructuring Cost and Reserve [Line Items]
Net restructuring charges	4
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Net restructuring charges	$ 4

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Benefits) and Effective Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Tax expense (benefit)	$ 40	$ 2
Effective tax rate	9.90%	20.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	9.90%	20.00%
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount	$ 16
Effective Income Tax Rate Reconciliation, Tax Incentives	10
Increase in non deductible goodwill	10
Foreign income tax change due to impact of tax holiday	$ 4	$ 3
Income tax holiday (in dollars per share)	$ 0.01	$ 0.01

Identified Intangible Assets -

Identified Intangible Assets - Summary of Identified Intangible Assets (Details) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	$ 9,175	$ 9,249
Finite-lived intangible assets, accumulated amortization	(7,118)	(7,007)
Marketing-related
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	81	81
Finite-lived intangible assets, accumulated amortization	(81)	(81)
Customer-related
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	911	957
Finite-lived intangible assets, accumulated amortization	(348)	(381)
Technology-based
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross carrying amount	8,072	8,064
Finite-lived intangible assets, accumulated amortization	(6,689)	(6,545)
In-process R&D (IPR&D)
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, gross carrying amount	$ 111	$ 147

Identified Intangible Assets _2

Identified Intangible Assets - Schedule of Estimated Amortization Expense (Details) - Other Intangible Assets $ in Millions	Apr. 04, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
2021	$ 506
2022	575
2023	341
2024	150
2025	99
Thereafter	$ 386

Identified Intangible Assets _3

Identified Intangible Assets - Narrative (Details)	3 Months Ended	12 Months Ended
	Apr. 04, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Expected weighted average remaining life of identified intangibles	4 years	4 years

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 7,650	$ 7,650
Unamortized discounts, premiums and debt issuance costs	(39)	(41)
Total debt, including unamortized discounts, premiums, debt issuance costs and fair value adjustments	7,611	7,609
Current portion of long-term debt	0	0
Long-term debt	7,611	7,609
Unsecured Debt | Fixed-rate 3.875% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 1,000	$ 1,000
Debt Instrument, Interest Rate, Effective Percentage	3.875%	3.875%
Unsecured Debt | Fixed-rate 4.625% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 900	$ 900
Debt Instrument, Interest Rate, Effective Percentage	4.625%	4.625%
Unsecured Debt | Fixed-rate 4.875% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 1,000	$ 1,000
Debt Instrument, Interest Rate, Effective Percentage	4.875%	4.875%
Unsecured Debt | Fixed-rate 2.7% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 500	$ 500
Debt Instrument, Interest Rate, Effective Percentage	2.70%	2.70%
Unsecured Debt | Fixed-rate 5.35% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 500	$ 500
Debt Instrument, Interest Rate, Effective Percentage	5.35%	5.35%
Unsecured Debt | Fixed-rate 3.875% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 750	$ 750
Debt Instrument, Interest Rate, Effective Percentage	3.875%	3.875%
Unsecured Debt | Fixed-rate 3.15% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 500	$ 500
Debt Instrument, Interest Rate, Effective Percentage	3.15%	3.15%
Unsecured Debt | Fixed-rate 5.55% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 500	$ 500
Debt Instrument, Interest Rate, Effective Percentage	5.55%	5.55%
Unsecured Debt | Fixed-rate 4.3% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 1,000	$ 1,000
Debt Instrument, Interest Rate, Effective Percentage	4.30%	4.30%
Unsecured Debt | Fixed-rate 3.4% senior unsecured notes
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 1,000	$ 1,000
Debt Instrument, Interest Rate, Effective Percentage	3.40%	3.40%
Revolving Credit Facility | Floating-rate revolving credit facility (RCF)
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 0	$ 0
Debt Instrument, Interest Rate, Effective Percentage	0.00%	0.00%

Related-Party Transactions - Sc

Related-Party Transactions - Schedule of Amounts Related to Revenue and Other Income and Purchase of Goods and Services Incurred in Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Related Party Transactions [Abstract]
Revenue and other income	$ 2	$ 18
Purchase of goods and services	$ 1	$ 12

Related-Party Transactions - _2

Related-Party Transactions - Schedule of Amounts Related to Receivable and Payable Balances with Related Parties (Details) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Receivables	$ 1	$ 3
Payables	$ 7	$ 7

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Instruments (Details) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Assets:
Marketable equity securities	$ 23	$ 19
Estimate of Fair Value Measurement | Level 1
Assets:
Marketable equity securities	23	19
Estimate of Fair Value Measurement | Level 2
Assets:
Derivative instruments-assets	3	18
Liabilities:
Derivative instruments-liabilities	(9)	0
Estimate of Fair Value Measurement | Money market funds | Level 1
Assets:
Money market funds	$ 814	$ 1,469

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Apr. 04, 2021	Dec. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term debt	$ 7,611	$ 7,609
Level 2 | Estimate of Fair Value Measurement
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Long-term debt	$ 8,400	$ 8,600

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Apr. 04, 2021USD ($)individual	Dec. 31, 2020USD ($)
Commitments and Contingencies [Line Items]
Purchase Obligation	$ 1,048
Accrued potential and legal fees	17	$ 17
Insurance reimbursements	8	$ 8
Insurance reimbursement of claims potential maximum exposure	$ 15
Number of birth defect individuals | individual	18
Minimum
Commitments and Contingencies [Line Items]
Range of possible loss	$ 0
Maximum
Commitments and Contingencies [Line Items]
Range of possible loss	$ 23