Texas Instruments (TXN) 10-Q 26 Apr 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 18, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-03761
Entity Registrant Name	TEXAS INSTRUMENTS INCORPORATED
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-0289970
Entity Address, Address Line One	12500 TI Boulevard
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75243
City Area Code	214
Local Phone Number	479-3773
Title of 12(b) Security	Common Stock, par value $1.00
Trading Symbol	TXN
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		907,653,862
Entity Central Index Key	0000097476
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 4,379	$ 4,905
Cost of revenue (COR)	1,516	1,463
Gross profit	2,863	3,442
Research and development (R&D)	455	391
Selling, general and administrative (SG&A)	474	422
Restructuring charges/other	0	66
Operating profit	1,934	2,563
Other income (expense), net (OI&E)	80	15
Interest and debt expense	68	52
Income before income taxes	1,946	2,526
Provision for income taxes	238	325
Net income	$ 1,708	$ 2,201
Earnings per common share (EPS):
Basic (in dollars per share)	$ 1.87	$ 2.37
Diluted (in dollars per share)	$ 1.85	$ 2.35
Average shares outstanding:
Basic (in shares)	907	923
Diluted (in shares)	916	934
Diluted EPS:
Net income	$ 1,708	$ 2,201
Income allocated to RSUs	(9)	(9)
Income allocated to common stock for diluted EPS	$ 1,699	$ 2,192

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,708	$ 2,201
Net actuarial losses of defined benefit plans:
Adjustments, net of tax effect of $1 and ($2)	(2)	6
Recognized within net income, net of tax effect of ($1) and ($1)	3	2
Derivative instruments:
Change in fair value, net of tax effect of $1 and $0	(2)	0
Available-for-sale investments:
Unrealized gains (losses), net of tax effect of $0 and $1	3	(4)
Other comprehensive income (loss), net of taxes	2	4
Total comprehensive income	$ 1,710	$ 2,205

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net actuarial losses of defined benefit plans adjustment, tax effect	$ 1	$ (2)
Net actuarial losses of defined benefit plans recognized within net income, tax effect	(1)	(1)
Derivative instruments change in fair value, tax effect	1	0
Available-for-sale investments unrealized losses, tax effect	$ 0	$ 1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 4,477	$ 3,050
Short-term investments	5,068	6,017
Accounts receivable, net of allowances of ($13) and ($13)	1,877	1,895
Raw materials	378	353
Work in process	1,850	1,546
Finished goods	1,060	858
Inventories	3,288	2,757
Prepaid expenses and other current assets	313	302
Total current assets	15,023	14,021
Property, plant and equipment at cost	10,791	9,950
Accumulated depreciation	(3,126)	(3,074)
Property, plant and equipment	7,665	6,876
Goodwill	4,362	4,362
Deferred tax assets	486	473
Capitalized software licenses	140	152
Overfunded retirement plans	189	188
Other long-term assets	1,355	1,135
Total assets	29,220	27,207
Current liabilities:
Current portion of long-term debt	500	500
Accounts payable	952	851
Accrued compensation	394	799
Income taxes payable	372	189
Accrued expenses and other liabilities	686	646
Total current liabilities	2,904	2,985
Long-term debt	9,626	8,235
Underfunded retirement plans	123	118
Deferred tax liabilities	73	66
Other long-term liabilities	1,251	1,226
Total liabilities	13,977	12,630
Stockholders’ equity:
Preferred stock, $25 par value. Shares authorized – 10; none issued	0	0
Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741	1,741	1,741
Paid-in capital	3,016	2,951
Retained earnings	50,930	50,353
Treasury common stock at cost: Shares: March 31, 2023 - 833; December 31, 2022 – 835	(40,192)	(40,214)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(252)	(254)
Total stockholders’ equity	15,243	14,577
Total liabilities and stockholders’ equity	$ 29,220	$ 27,207

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Allowance for doubtful accounts receivable, current	$ (13)	$ (13)
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 25	$ 25
Preferred stock, shares authorized (in shares)	10	10
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	2,400	2,400
Common stock, shares issued (in shares)	1,741	1,741
Treasury stock (in shares)	833	835

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net income	$ 1,708	$ 2,201
Adjustments to net income:
Depreciation	265	200
Amortization of capitalized software	16	14
Stock compensation	104	74
Gains on sales of assets	0	(2)
Deferred taxes	(8)	(1)
Increase (decrease) from changes in:
Accounts receivable	18	(94)
Inventories	(531)	(150)
Prepaid expenses and other current assets	(4)	21
Accounts payable and accrued expenses	(124)	11
Accrued compensation	(407)	(388)
Income taxes payable	185	284
Changes in funded status of retirement plans	6	21
Other	(68)	(47)
Cash flows from operating activities	1,160	2,144
Cash flows from investing activities
Capital expenditures	(982)	(443)
Proceeds from asset sales	1	2
Purchases of short-term investments	(3,013)	(3,988)
Proceeds from short-term investments	4,026	2,774
Other	(4)	(13)
Cash flows from investing activities	28	(1,668)
Cash flows from financing activities
Proceeds from issuance of long-term debt	1,397	0
Dividends paid	(1,125)	(1,063)
Stock repurchases	(103)	(589)
Proceeds from common stock transactions	85	57
Other	(15)	(7)
Cash flows from financing activities	239	(1,602)
Net change in cash and cash equivalents	1,427	(1,126)
Cash and cash equivalents at beginning of period	3,050	4,631
Cash and cash equivalents at end of period	$ 4,477	$ 3,505

Description of business, includ

Description of business, including segment and geographic area information	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Description of business, including segment and geographic area information	Description of business, including segment and geographic area information We design and manufacture semiconductors that we sell to electronics designers and manufacturers all over the world. We have two reportable segments, Analog and Embedded Processing, each of which represents groups of similar products that are combined on the basis of similar design and development requirements, product characteristics, manufacturing processes and distribution channels. Our segments also reflect how management allocates resources and measures results. • Analog semiconductors change real-world signals, such as sound, temperature, pressure or images, by conditioning them, amplifying them and often converting them to a stream of digital data that can be processed by other semiconductors, such as embedded processors. Analog semiconductors are also used to manage power in all electronic equipment by converting, distributing, storing, discharging, isolating and measuring electrical energy, whether the equipment is plugged into a wall or using a battery. Our Analog segment consists of two major product lines: Power and Signal Chain. • Embedded Processing products are the digital “brains” of many types of electronic equipment. They are designed to handle specific tasks and can be optimized for various combinations of performance, power and cost, depending on the application. We report the results of our remaining business activities in Other. Other includes operating segments that do not meet the quantitative thresholds for individually reportable segments and cannot be aggregated with other operating segments. Other includes DLP ® products, calculators and custom ASIC products. Our centralized manufacturing and support organizations, such as facilities, procurement and logistics, provide support to our operating segments, including those in Other. Costs incurred by these organizations, including depreciation, are charged to the segments on a per-unit basis. Consequently, depreciation expense is not an independently identifiable component within the segments’ results and, therefore, is not provided. Segment information For Three Months Ended March 31, 2023 2022 Revenue: Analog $ 3,289 $ 3,816 Embedded Processing 832 782 Other 258 307 Total revenue $ 4,379 $ 4,905 Operating profit: Analog $ 1,574 $ 2,150 Embedded Processing 237 315 Other (a) 123 98 Total operating profit $ 1,934 $ 2,563 (a) Includes restructuring charges/other Geographic area information The following geographic area information is based on product shipment destination, which does not reflect end demand by geography. For Three Months Ended March 31, 2023 2022 Revenue: United States $ 555 13 % $ 494 10 % China (a) 1,831 41 2,548 52 Rest of Asia 549 13 655 13 Europe, Middle East and Africa 986 23 814 17 Japan 289 6 263 5 Rest of world 169 4 131 3 Total revenue $ 4,379 100 % $ 4,905 100 % (a) Revenue from products shipped into China includes shipments to customers that manufacture in China and then export end products to their customers around the world, as well as distributors that transship inventory through China to service other countries. The following additional geographic information includes our estimate for revenue based on the location of our end customers’ headquarters, providing a better representation of the geographic profile for where critical decisions are made. For Three Months Ended March 31, 2023 2022 Revenue: United States $ 1,357 31 % $ 1,570 32 % China 876 20 1,275 26 Rest of Asia 394 9 540 11 Europe, Middle East and Africa (a) 1,270 29 1,079 22 Japan 438 10 392 8 Rest of world 44 1 49 1 Total revenue $ 4,379 100 % $ 4,905 100 % (a) Revenue from end customers headquartered in Germany was 13% and 10% in the first quarters of 2023 and 2022, respectively.

Basis of presentation and signi

Basis of presentation and significant accounting policies and practices	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation and significant accounting policies and practices	Basis of presentation and significant accounting policies and practices Basis of presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and on the same basis as the audited financial statements included in our annual report on Form 10-K for the year ended December 31, 2022. The Consolidated Statements of Income, Comprehensive Income and Cash Flows for the periods ended March 31, 2023 and 2022, and the Consolidated Balance Sheet as of March 31, 2023, are not audited but reflect all adjustments that are of a normal recurring nature and are necessary for a fair statement of the results of the periods shown. Certain information and note disclosures normally included in annual consolidated financial statements have been omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. Because the consolidated interim financial statements do not include all of the information and notes required by GAAP for a complete set of financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in our annual report on Form 10-K for the year ended December 31, 2022. The results for the three-month periods are not necessarily indicative of a full year’s results. Significant accounting policies and practices Earnings per share (EPS) We use the two-class method for calculating EPS because the restricted stock units (RSUs) we grant are participating securities containing non-forfeitable rights to receive dividend equivalents. Under the two-class method, a portion of net income is allocated to RSUs and excluded from the calculation of income allocated to common stock. Computation and reconciliation of earnings per common share are as follows: For Three Months Ended March 31, 2023 2022 Net Income Shares EPS Net Income Shares EPS Basic EPS: Net income $ 1,708 $ 2,201 Income allocated to RSUs (9) (9) Income allocated to common stock $ 1,699 907 $ 1.87 $ 2,192 923 $ 2.37 Dilutive effect of stock compensation plans 9 11 Diluted EPS: Net income $ 1,708 $ 2,201 Income allocated to RSUs (9) (9) Income allocated to common stock $ 1,699 916 $ 1.85 $ 2,192 934 $ 2.35 Potentially dilutive securities representing 8 million and 5 million shares of common stock that were outstanding during the first quarters of 2023 and 2022, respectively, were excluded from the computation of diluted earnings per common share during these periods because their effect would have been anti-dilutive. Derivatives and hedging We use derivative financial instruments to manage exposure to foreign exchange risk. These instruments are primarily forward foreign currency exchange contracts, which are used as economic hedges to reduce the earnings impact that exchange rate fluctuations may have on our non-U.S. dollar net balance sheet exposures. Gains and losses from changes in the fair value of these forward foreign currency exchange contracts are credited or charged to OI&E. We do not apply hedge accounting to our foreign currency derivative instruments. We are exposed to variability in compensation charges related to certain deferred compensation obligations to employees. We use total return swaps to economically hedge this exposure and offset the related compensation expense, recognizing changes in the value of the swaps and the related deferred compensation liabilities in SG&A. In connection with the issuance of long-term debt, we may use financial derivatives such as treasury-rate lock agreements that are recognized in AOCI and amortized over the life of the related debt. The results of these derivative transactions have not been material. We do not use derivatives for speculative or trading purposes. Fair values of financial instruments The fair values of our derivative financial instruments were not material as of March 31, 2023. Our investments in cash equivalents, short-term investments and certain long-term investments, as well as our deferred compensation liabilities, are carried at fair value. The carrying values for other current financial assets and liabilities, such as accounts receivable and accounts payable, approximate fair value due to the short maturity of such instruments. As of March 31, 2023, the carrying value of long-term debt, including the current portion, was $10.13 billion, and the estimated fair value was $9.53 billion. The estimated fair value is measured using broker-dealer quotes, which are Level 2 inputs. See Note 4 for a description of fair value and the definition of Level 2 inputs.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Provision for income taxes is based on the following: For Three Months Ended March 31, 2023 2022 Taxes calculated using the estimated annual effective tax rate $ 276 $ 361 Discrete tax items (38) (36) Provision for income taxes $ 238 $ 325 Effective tax rate 12 % 13 % The effective tax rate differs from the 21% U.S. statutory corporate tax rate due to the effect of U.S. tax benefits.

Valuation of debt and equity in

Valuation of debt and equity investments and certain liabilities	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Valuation of debt and equity investments and certain liabilities	Valuation of debt and equity investments and certain liabilities Investments measured at fair value Money market funds, debt investments and mutual funds are stated at fair value, which is generally based on market prices or broker quotes. We classify all debt investments as available-for-sale. See Fair-value considerations . Unrealized gains and losses are recorded as an increase or decrease, net of taxes, in AOCI on our Consolidated Balance Sheets, and any credit losses are recorded as an allowance for credit losses with an offset recognized in OI&E in our Consolidated Statements of Income. Our mutual funds hold a variety of debt and equity investments intended to generate returns that offset changes in certain deferred compensation liabilities. We record changes in the fair value of these mutual funds and the related deferred compensation liabilities in SG&A. Other investments Our other investments include equity-method investments and non-marketable investments, which are not measured at fair value. These investments consist of interests in venture capital funds and other non-marketable securities. Gains and losses from equity-method investments are recognized in OI&E based on our ownership share of the investee’s financial results. Non-marketable securities are measured at cost with adjustments for observable changes in price or impairments. Gains and losses on non-marketable investments are recognized in OI&E. Details of our investments are as follows: March 31, 2023 December 31, 2022 Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash and Cash Equivalents Short-Term Investments Long-Term Investments Measured at fair value: Money market funds $ 3,040 $ — $ — $ 1,238 $ — $ — Corporate obligations 198 1,350 — 276 1,535 — U.S. government and agency securities 748 3,570 — 680 4,234 — Non-U.S. government and agency securities 149 148 — 149 248 — Mutual funds — — 10 — — 11 Total 4,135 5,068 10 2,343 6,017 11 Other measurement basis: Equity-method investments — — 13 — — 18 Non-marketable investments — — 6 — — 5 Cash on hand 342 — — 707 — — Total $ 4,477 $ 5,068 $ 29 $ 3,050 $ 6,017 $ 34 As of March 31, 2023, and December 31, 2022, unrealized gains and losses associated with our debt investments were not material. We did not recognize any credit losses related to debt investments for the first three months of 2023 and 2022. The following table presents the aggregate maturities of our available-for-sale debt investments as of March 31, 2023: Fair Value One year or less $ 6,089 One to two years 74 Proceeds from sales, redemptions and maturities of short-term available-for-sale investments were $4.03 billion and $2.77 billion for the first quarters of 2023 and 2022, respectively. Gross realized gains and losses from these sales were not material. Fair-value considerations We measure and report certain financial assets and liabilities at fair value on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The three-level hierarchy described below indicates the extent and level of judgment used to estimate fair-value measurements. • Level 1 – Uses unadjusted quoted prices that are available in active markets for identical assets or liabilities as of the reporting date. • Level 2 – Uses inputs other than Level 1 that are either directly or indirectly observable as of the reporting date through correlation with market data, including quoted prices for similar assets and liabilities in active markets and quoted prices in markets that are not active. Level 2 also includes assets and liabilities that are valued using models or other pricing methodologies that do not require significant judgment since the input assumptions used in the models, such as interest rates and volatility factors, are corroborated by readily observable data. We utilize a third-party data service to provide Level 2 valuations. We verify these valuations for reasonableness relative to unadjusted quotes obtained from brokers or dealers based on observable prices for similar assets in active markets. • Level 3 – Uses inputs that are unobservable, supported by little or no market activity and reflect the use of significant management judgment. These values are generally determined using pricing models that utilize management estimates of market participant assumptions. As of March 31, 2023, and December 31, 2022, we had no Level 3 assets or liabilities. The following are our assets and liabilities that were accounted for at fair value on a recurring basis. These tables do not include cash on hand, assets held by our postretirement plans, or assets and liabilities that are measured at historical cost or any basis other than fair value. March 31, 2023 December 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Money market funds $ 3,040 $ — $ 3,040 $ 1,238 $ — $ 1,238 Corporate obligations — 1,548 1,548 — 1,811 1,811 U.S. government and agency securities 4,318 — 4,318 4,914 — 4,914 Non-U.S. government and agency securities — 297 297 — 397 397 Mutual funds 10 — 10 11 — 11 Total assets $ 7,368 $ 1,845 $ 9,213 $ 6,163 $ 2,208 $ 8,371 Liabilities: Deferred compensation $ 328 $ — $ 328 $ 326 $ — $ 326 Total liabilities $ 328 $ — $ 328 $ 326 $ — $ 326

Postretirement benefit plans

Postretirement benefit plans	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Postretirement benefit plans	Postretirement benefit plans Expenses related to defined benefit and retiree health care benefit plans are as follows: U.S. Defined Benefit U.S. Retiree Health Care Non-U.S. Defined Benefit For Three Months Ended March 31, 2023 2022 2023 2022 2023 2022 Service cost $ 2 $ 4 $ — $ 1 $ 4 $ 7 Interest cost 7 6 4 3 14 10 Expected return on plan assets (6) (8) (5) (4) (15) (18) Recognized net actuarial losses (gains) 2 — (1) — 3 — Net periodic benefit costs (credits) 5 2 (2) — 6 (1) Settlement losses — 2 — — — 1 Total, including other postretirement losses (gains) $ 5 $ 4 $ (2) $ — $ 6 $ —

Debt and lines of credit

Debt and lines of credit	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt and lines of credit	Debt and lines of credit Short-term borrowings We maintain a line of credit to provide additional liquidity through bank loans and, if necessary, to support commercial paper borrowings. As of March 31, 2023, the aforementioned line of credit was a variable-rate, revolving credit facility from a consortium of investment-grade banks that allows us to borrow up to $1 billion until March 2024. The interest rate on borrowings under this credit facility, if drawn, is indexed to the applicable Term Secured Overnight Financing Rate (Term SOFR). As of March 31, 2023, our credit facility was undrawn, and we had no commercial paper outstanding. Long-term debt In March 2023, we issued two series of senior unsecured notes for an aggregate principal amount of $1.40 billion, consisting of $750 million of 4.90% notes due in 2033 and $650 million of 5.00% notes due in 2053. We incurred $11 million of issuance and other related costs. The proceeds of the offering were $1.40 billion, net of the original issuance discounts, which will be used for general corporate purposes. Long-term debt outstanding is as follows: March 31, December 31, 2023 2022 Notes due 2023 at 2.25% $ 500 $ 500 Notes due 2024 at 2.625% 300 300 Notes due 2024 at 4.70% 300 300 Notes due 2025 at 1.375% 750 750 Notes due 2026 at 1.125% 500 500 Notes due 2027 at 2.90% 500 500 Notes due 2028 at 4.60% 500 500 Notes due 2029 at 2.25% 750 750 Notes due 2030 at 1.75% 750 750 Notes due 2031 at 1.90% 500 500 Notes due 2032 at 3.65% 400 400 Notes due 2033 at 4.90% 750 — Notes due 2039 at 3.875% 750 750 Notes due 2048 at 4.15% 1,500 1,500 Notes due 2051 at 2.70% 500 500 Notes due 2052 at 4.10% 300 300 Notes due 2053 at 5.00% 650 — Total debt 10,200 8,800 Net unamortized discounts, premiums and issuance costs (74) (65) Total debt, including net unamortized discounts, premiums and issuance costs 10,126 8,735 Current portion of long-term debt (500) (500) Long-term debt $ 9,626 $ 8,235 Interest and debt expense was $68 million and $52 million for the first quarters of 2023 and 2022, respectively. This was net of the amortized discounts, premiums, issuance and other related costs. Capitalized interest was not material.

Stockholders' equity

Stockholders' equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stockholders’ equity	Stockholders’ equity Changes in equity are as follows: Common Stock Paid-in Capital Retained Earnings Treasury Common Stock AOCI Balance, December 31, 2022 $ 1,741 $ 2,951 $ 50,353 $ (40,214) $ (254) 2023 Net income — — 1,708 — — Dividends declared and paid ($1.24 per share) — — (1,125) — — Common stock issued for stock-based awards — (37) — 118 — Stock repurchases — — — (96) — Stock compensation — 104 — — — Other comprehensive income (loss), net of taxes — — — — 2 Dividend equivalents on RSUs — — (6) — — Other — (2) — — — Balance, March 31, 2023 $ 1,741 $ 3,016 $ 50,930 $ (40,192) $ (252) Common Stock Paid-in Capital Retained Earnings Treasury Common Stock AOCI Balance, December 31, 2021 $ 1,741 $ 2,630 $ 45,919 $ (36,800) $ (157) 2022 Net income — — 2,201 — — Dividends declared and paid ($1.15 per share) — — (1,063) — — Common stock issued for stock-based awards — (36) — 93 — Stock repurchases — — — (584) — Stock compensation — 74 — — — Other comprehensive income (loss), net of taxes — — — — 4 Dividend equivalents on RSUs — — (5) — — Other — (1) 1 — — Balance, March 31, 2022 $ 1,741 $ 2,667 $ 47,053 $ (37,291) $ (153)

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Indemnification guarantees We routinely sell products with an intellectual property indemnification included in the terms of sale. Historically, we have had only minimal, infrequent losses associated with these indemnities. Consequently, we cannot reasonably estimate any future liabilities that may result. Warranty costs/product liabilities Our stated warranties for semiconductor products obligate us to repair, replace or credit the purchase price of a covered product back to the buyer. Product claim consideration may exceed the price of our products. Historically, we have experienced a low rate of payments on product claims. Although we cannot predict the likelihood or amount of any future claims, we do not believe they will have a material adverse effect on our consolidated financial statements. We accrue for known product-related claims if a loss is probable and can be reasonably estimated. During the periods presented, there have been no material accruals or payments regarding product warranty or product liability. General We are subject to various legal and administrative proceedings. Although it is not possible to predict the outcome of these matters, we believe that the results of these proceedings will not have a material adverse effect on our consolidated financial statements.

Supplemental financial informat

Supplemental financial information	3 Months Ended
	Mar. 31, 2023
Disclosure Text Block Supplement [Abstract]
Supplemental financial information	Supplemental financial information Restructuring charges/other During the first quarter of 2022, restructuring charges/other included $66 million of preproduction costs at our Lehi, Utah, manufacturing facility, which were included in Other for segment reporting purposes. These costs transitioned primarily to cost of revenue after production began in December 2022. Other long-term assets March 31, December 31, 2023 2022 U.S. CHIPS and Science Act investment tax credit $ 619 $ 395 Other 736 740 Total $ 1,355 $ 1,135 Details on amounts reclassified out of accumulated other comprehensive income (loss), net of taxes, to net income Our Consolidated Statements of Comprehensive Income include items that have been recognized within net income during the first quarters of 2023 and 2022. The table below details where these transactions are recorded in our Consolidated Statements of Income. For Three Months Ended Impact to Related Statement of Income Lines March 31, 2023 2022 Net actuarial losses of defined benefit plans: Recognized net actuarial loss and settlement losses (a) $ 4 $ 3 Decrease to OI&E Tax effect (1) (1) Decrease to provision for income taxes Recognized within net income, net of taxes $ 3 $ 2 Decrease to net income (a) Detailed in Note 5 Stock compensation During the first quarter of 2023, 3 million shares were issued from treasury related to stock compensation.

Basis of presentation and sig_2

Basis of presentation and significant accounting policies and practices (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and on the same basis as the audited financial statements included in our annual report on Form 10-K for the year ended December 31, 2022. The Consolidated Statements of Income, Comprehensive Income and Cash Flows for the periods ended March 31, 2023 and 2022, and the Consolidated Balance Sheet as of March 31, 2023, are not audited but reflect all adjustments that are of a normal recurring nature and are necessary for a fair statement of the results of the periods shown. Certain information and note disclosures normally included in annual consolidated financial statements have been omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. Because the consolidated interim financial statements do not include all of the information and notes required by GAAP for a complete set of financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in our annual report on Form 10-K for the year ended December 31, 2022. The results for the three-month periods are not necessarily indicative of a full year’s results.
Earnings per share (EPS)	Earnings per share (EPS) We use the two-class method for calculating EPS because the restricted stock units (RSUs) we grant are participating securities containing non-forfeitable rights to receive dividend equivalents. Under the two-class method, a portion of net income is allocated to RSUs and excluded from the calculation of income allocated to common stock.
Derivatives and hedging	Derivatives and hedging We use derivative financial instruments to manage exposure to foreign exchange risk. These instruments are primarily forward foreign currency exchange contracts, which are used as economic hedges to reduce the earnings impact that exchange rate fluctuations may have on our non-U.S. dollar net balance sheet exposures. Gains and losses from changes in the fair value of these forward foreign currency exchange contracts are credited or charged to OI&E. We do not apply hedge accounting to our foreign currency derivative instruments. We are exposed to variability in compensation charges related to certain deferred compensation obligations to employees. We use total return swaps to economically hedge this exposure and offset the related compensation expense, recognizing changes in the value of the swaps and the related deferred compensation liabilities in SG&A. In connection with the issuance of long-term debt, we may use financial derivatives such as treasury-rate lock agreements that are recognized in AOCI and amortized over the life of the related debt. The results of these derivative transactions have not been material. We do not use derivatives for speculative or trading purposes.
Fair values of financial instruments	Fair values of financial instrumentsThe fair values of our derivative financial instruments were not material as of March 31, 2023. Our investments in cash equivalents, short-term investments and certain long-term investments, as well as our deferred compensation liabilities, are carried at fair value. The carrying values for other current financial assets and liabilities, such as accounts receivable and accounts payable, approximate fair value due to the short maturity of such instruments.
Investments measured at fair value	Investments measured at fair value Money market funds, debt investments and mutual funds are stated at fair value, which is generally based on market prices or broker quotes. We classify all debt investments as available-for-sale. See Fair-value considerations . Unrealized gains and losses are recorded as an increase or decrease, net of taxes, in AOCI on our Consolidated Balance Sheets, and any credit losses are recorded as an allowance for credit losses with an offset recognized in OI&E in our Consolidated Statements of Income. Our mutual funds hold a variety of debt and equity investments intended to generate returns that offset changes in certain deferred compensation liabilities. We record changes in the fair value of these mutual funds and the related deferred compensation liabilities in SG&A. Other investments Our other investments include equity-method investments and non-marketable investments, which are not measured at fair value. These investments consist of interests in venture capital funds and other non-marketable securities. Gains and losses from equity-method investments are recognized in OI&E based on our ownership share of the investee’s financial results. Non-marketable securities are measured at cost with adjustments for observable changes in price or impairments. Gains and losses on non-marketable investments are recognized in OI&E.
Fair value considerations	Fair-value considerations We measure and report certain financial assets and liabilities at fair value on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The three-level hierarchy described below indicates the extent and level of judgment used to estimate fair-value measurements. • Level 1 – Uses unadjusted quoted prices that are available in active markets for identical assets or liabilities as of the reporting date. • Level 2 – Uses inputs other than Level 1 that are either directly or indirectly observable as of the reporting date through correlation with market data, including quoted prices for similar assets and liabilities in active markets and quoted prices in markets that are not active. Level 2 also includes assets and liabilities that are valued using models or other pricing methodologies that do not require significant judgment since the input assumptions used in the models, such as interest rates and volatility factors, are corroborated by readily observable data. We utilize a third-party data service to provide Level 2 valuations. We verify these valuations for reasonableness relative to unadjusted quotes obtained from brokers or dealers based on observable prices for similar assets in active markets. • Level 3 – Uses inputs that are unobservable, supported by little or no market activity and reflect the use of significant management judgment. These values are generally determined using pricing models that utilize management estimates of market participant assumptions. As of March 31, 2023, and December 31, 2022, we had no Level 3 assets or liabilities.
Indemnification guarantees and warranty costs/product liabilities	Indemnification guarantees We routinely sell products with an intellectual property indemnification included in the terms of sale. Historically, we have had only minimal, infrequent losses associated with these indemnities. Consequently, we cannot reasonably estimate any future liabilities that may result. Warranty costs/product liabilities

Description of business, incl_2

Description of business, including segment and geographic area information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Information	Segment information For Three Months Ended March 31, 2023 2022 Revenue: Analog $ 3,289 $ 3,816 Embedded Processing 832 782 Other 258 307 Total revenue $ 4,379 $ 4,905 Operating profit: Analog $ 1,574 $ 2,150 Embedded Processing 237 315 Other (a) 123 98 Total operating profit $ 1,934 $ 2,563 (a) Includes restructuring charges/other
Schedule of Geographic Area Information	Geographic area information The following geographic area information is based on product shipment destination, which does not reflect end demand by geography. For Three Months Ended March 31, 2023 2022 Revenue: United States $ 555 13 % $ 494 10 % China (a) 1,831 41 2,548 52 Rest of Asia 549 13 655 13 Europe, Middle East and Africa 986 23 814 17 Japan 289 6 263 5 Rest of world 169 4 131 3 Total revenue $ 4,379 100 % $ 4,905 100 % (a) Revenue from products shipped into China includes shipments to customers that manufacture in China and then export end products to their customers around the world, as well as distributors that transship inventory through China to service other countries. The following additional geographic information includes our estimate for revenue based on the location of our end customers’ headquarters, providing a better representation of the geographic profile for where critical decisions are made. For Three Months Ended March 31, 2023 2022 Revenue: United States $ 1,357 31 % $ 1,570 32 % China 876 20 1,275 26 Rest of Asia 394 9 540 11 Europe, Middle East and Africa (a) 1,270 29 1,079 22 Japan 438 10 392 8 Rest of world 44 1 49 1 Total revenue $ 4,379 100 % $ 4,905 100 % (a) Revenue from end customers headquartered in Germany was 13% and 10% in the first quarters of 2023 and 2022, respectively.

Basis of presentation and sig_3

Basis of presentation and significant accounting policies and practices (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Earnings Per Share	Computation and reconciliation of earnings per common share are as follows: For Three Months Ended March 31, 2023 2022 Net Income Shares EPS Net Income Shares EPS Basic EPS: Net income $ 1,708 $ 2,201 Income allocated to RSUs (9) (9) Income allocated to common stock $ 1,699 907 $ 1.87 $ 2,192 923 $ 2.37 Dilutive effect of stock compensation plans 9 11 Diluted EPS: Net income $ 1,708 $ 2,201 Income allocated to RSUs (9) (9) Income allocated to common stock $ 1,699 916 $ 1.85 $ 2,192 934 $ 2.35

Income taxes (Tables)

Income taxes (Tables)	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	Provision for income taxes is based on the following: For Three Months Ended March 31, 2023 2022 Taxes calculated using the estimated annual effective tax rate $ 276 $ 361 Discrete tax items (38) (36) Provision for income taxes $ 238 $ 325 Effective tax rate 12 % 13 %

Valuation of debt and equity _2

Valuation of debt and equity investments and certain liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Investments	Details of our investments are as follows: March 31, 2023 December 31, 2022 Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash and Cash Equivalents Short-Term Investments Long-Term Investments Measured at fair value: Money market funds $ 3,040 $ — $ — $ 1,238 $ — $ — Corporate obligations 198 1,350 — 276 1,535 — U.S. government and agency securities 748 3,570 — 680 4,234 — Non-U.S. government and agency securities 149 148 — 149 248 — Mutual funds — — 10 — — 11 Total 4,135 5,068 10 2,343 6,017 11 Other measurement basis: Equity-method investments — — 13 — — 18 Non-marketable investments — — 6 — — 5 Cash on hand 342 — — 707 — — Total $ 4,477 $ 5,068 $ 29 $ 3,050 $ 6,017 $ 34
Aggregate Maturities of Available-for-sale Debt Investments	The following table presents the aggregate maturities of our available-for-sale debt investments as of March 31, 2023: Fair Value One year or less $ 6,089 One to two years 74
Assets and Liabilities Accounted for at Fair Value	The following are our assets and liabilities that were accounted for at fair value on a recurring basis. These tables do not include cash on hand, assets held by our postretirement plans, or assets and liabilities that are measured at historical cost or any basis other than fair value. March 31, 2023 December 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Money market funds $ 3,040 $ — $ 3,040 $ 1,238 $ — $ 1,238 Corporate obligations — 1,548 1,548 — 1,811 1,811 U.S. government and agency securities 4,318 — 4,318 4,914 — 4,914 Non-U.S. government and agency securities — 297 297 — 397 397 Mutual funds 10 — 10 11 — 11 Total assets $ 7,368 $ 1,845 $ 9,213 $ 6,163 $ 2,208 $ 8,371 Liabilities: Deferred compensation $ 328 $ — $ 328 $ 326 $ — $ 326 Total liabilities $ 328 $ — $ 328 $ 326 $ — $ 326

Postretirement benefit plans (T

Postretirement benefit plans (Tables)	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Expense Related to Defined Benefit and Retiree Health Care Benefit Plans	Expenses related to defined benefit and retiree health care benefit plans are as follows: U.S. Defined Benefit U.S. Retiree Health Care Non-U.S. Defined Benefit For Three Months Ended March 31, 2023 2022 2023 2022 2023 2022 Service cost $ 2 $ 4 $ — $ 1 $ 4 $ 7 Interest cost 7 6 4 3 14 10 Expected return on plan assets (6) (8) (5) (4) (15) (18) Recognized net actuarial losses (gains) 2 — (1) — 3 — Net periodic benefit costs (credits) 5 2 (2) — 6 (1) Settlement losses — 2 — — — 1 Total, including other postretirement losses (gains) $ 5 $ 4 $ (2) $ — $ 6 $ —

Debt and lines of credit (Table

Debt and lines of credit (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt outstanding is as follows: March 31, December 31, 2023 2022 Notes due 2023 at 2.25% $ 500 $ 500 Notes due 2024 at 2.625% 300 300 Notes due 2024 at 4.70% 300 300 Notes due 2025 at 1.375% 750 750 Notes due 2026 at 1.125% 500 500 Notes due 2027 at 2.90% 500 500 Notes due 2028 at 4.60% 500 500 Notes due 2029 at 2.25% 750 750 Notes due 2030 at 1.75% 750 750 Notes due 2031 at 1.90% 500 500 Notes due 2032 at 3.65% 400 400 Notes due 2033 at 4.90% 750 — Notes due 2039 at 3.875% 750 750 Notes due 2048 at 4.15% 1,500 1,500 Notes due 2051 at 2.70% 500 500 Notes due 2052 at 4.10% 300 300 Notes due 2053 at 5.00% 650 — Total debt 10,200 8,800 Net unamortized discounts, premiums and issuance costs (74) (65) Total debt, including net unamortized discounts, premiums and issuance costs 10,126 8,735 Current portion of long-term debt (500) (500) Long-term debt $ 9,626 $ 8,235

Stockholders' equity (Tables)

Stockholders' equity (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Changes in Stockholders' Equity	Changes in equity are as follows: Common Stock Paid-in Capital Retained Earnings Treasury Common Stock AOCI Balance, December 31, 2022 $ 1,741 $ 2,951 $ 50,353 $ (40,214) $ (254) 2023 Net income — — 1,708 — — Dividends declared and paid ($1.24 per share) — — (1,125) — — Common stock issued for stock-based awards — (37) — 118 — Stock repurchases — — — (96) — Stock compensation — 104 — — — Other comprehensive income (loss), net of taxes — — — — 2 Dividend equivalents on RSUs — — (6) — — Other — (2) — — — Balance, March 31, 2023 $ 1,741 $ 3,016 $ 50,930 $ (40,192) $ (252) Common Stock Paid-in Capital Retained Earnings Treasury Common Stock AOCI Balance, December 31, 2021 $ 1,741 $ 2,630 $ 45,919 $ (36,800) $ (157) 2022 Net income — — 2,201 — — Dividends declared and paid ($1.15 per share) — — (1,063) — — Common stock issued for stock-based awards — (36) — 93 — Stock repurchases — — — (584) — Stock compensation — 74 — — — Other comprehensive income (loss), net of taxes — — — — 4 Dividend equivalents on RSUs — — (5) — — Other — (1) 1 — — Balance, March 31, 2022 $ 1,741 $ 2,667 $ 47,053 $ (37,291) $ (153)

Supplemental financial inform_2

Supplemental financial information (Tables)	3 Months Ended
	Mar. 31, 2023
Disclosure Text Block Supplement [Abstract]
Schedule of Other Long-Term Assets	Other long-term assets March 31, December 31, 2023 2022 U.S. CHIPS and Science Act investment tax credit $ 619 $ 395 Other 736 740 Total $ 1,355 $ 1,135
Amounts Reclassified Out of AOCI to Net Income, Net of Taxes	The table below details where these transactions are recorded in our Consolidated Statements of Income. For Three Months Ended Impact to Related Statement of Income Lines March 31, 2023 2022 Net actuarial losses of defined benefit plans: Recognized net actuarial loss and settlement losses (a) $ 4 $ 3 Decrease to OI&E Tax effect (1) (1) Decrease to provision for income taxes Recognized within net income, net of taxes $ 3 $ 2 Decrease to net income (a) Detailed in Note 5

Description of business, incl_3

Description of business, including segment and geographic area information - Additional Information (Details) - reportable_segment	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Number of reportable segments	2
Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Concentration risk, percentage	100%	100%

Description of business, incl_4

Description of business, including segment and geographic area information - Segment Information (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total revenue		$ 4,379	$ 4,905
Total operating profit		1,934	2,563
Analog
Segment Reporting Information [Line Items]
Total revenue		3,289	3,816
Total operating profit		1,574	2,150
Embedded Processing
Segment Reporting Information [Line Items]
Total revenue		832	782
Total operating profit		237	315
Other
Segment Reporting Information [Line Items]
Total revenue		258	307
Total operating profit	[1]	$ 123	$ 98
[1]Includes restructuring charges/other

Description of business, incl_5

Description of business, including segment and geographic area information - Geographic Area Information (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total revenue		$ 4,379	$ 4,905
Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Shipment Destination
Segment Reporting Information [Line Items]
Total revenue		$ 4,379	$ 4,905
Concentration risk, percentage		100%	100%
Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Total revenue		$ 4,379	$ 4,905
Concentration risk, percentage		100%	100%
United States | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Shipment Destination
Segment Reporting Information [Line Items]
Total revenue		$ 555	$ 494
Concentration risk, percentage		13%	10%
United States | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Total revenue		$ 1,357	$ 1,570
Concentration risk, percentage		31%	32%
China | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Shipment Destination
Segment Reporting Information [Line Items]
Total revenue	[1]	$ 1,831	$ 2,548
Concentration risk, percentage	[1]	41%	52%
China | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Total revenue		$ 876	$ 1,275
Concentration risk, percentage		20%	26%
Rest of Asia | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Shipment Destination
Segment Reporting Information [Line Items]
Total revenue		$ 549	$ 655
Concentration risk, percentage		13%	13%
Rest of Asia | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Total revenue		$ 394	$ 540
Concentration risk, percentage		9%	11%
Europe, Middle East and Africa | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Shipment Destination
Segment Reporting Information [Line Items]
Total revenue		$ 986	$ 814
Concentration risk, percentage		23%	17%
Europe, Middle East and Africa | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Total revenue	[2]	$ 1,270	$ 1,079
Concentration risk, percentage	[2]	29%	22%
Japan | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Shipment Destination
Segment Reporting Information [Line Items]
Total revenue		$ 289	$ 263
Concentration risk, percentage		6%	5%
Japan | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Total revenue		$ 438	$ 392
Concentration risk, percentage		10%	8%
Rest of world | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Shipment Destination
Segment Reporting Information [Line Items]
Total revenue		$ 169	$ 131
Concentration risk, percentage		4%	3%
Rest of world | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Total revenue		$ 44	$ 49
Concentration risk, percentage		1%	1%
Germany | Revenue from Contract with Customer, Product and Service Benchmark | Geographic Concentration Risk, Customers' Headquarters
Segment Reporting Information [Line Items]
Concentration risk, percentage		13%	10%
[1]Revenue from products shipped into China includes shipments to customers that manufacture in China and then export end products to their customers around the world, as well as distributors that transship inventory through China to service other countries.[2]Revenue from end customers headquartered in Germany was 13% and 10% in the first quarters of 2023 and 2022, respectively.

Basis of presentation and sig_4

Basis of presentation and significant accounting policies and practices - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basic EPS:
Net income	$ 1,708	$ 2,201
Income allocated to RSUs	(9)	(9)
Income allocated to common stock	$ 1,699	$ 2,192
Weighted average number of shares outstanding, basic (in shares)	907	923
Basic (in dollars per share)	$ 1.87	$ 2.37
Dilutive effect of stock compensation plans (in shares)	9	11
Diluted EPS:
Net income	$ 1,708	$ 2,201
Income allocated to RSUs	(9)	(9)
Income allocated to common stock for diluted EPS	$ 1,699	$ 2,192
Weighted average number of shares outstanding, diluted (in shares)	916	934
Diluted (in dollars per share)	$ 1.85	$ 2.35

Basis of presentation and sig_5

Basis of presentation and significant accounting policies and practices - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Antidilutive securities excluded from computation of earnings per share, Amount (in shares)	8	5
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, carrying value	$ 10,126		$ 8,735
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, estimated fair value	$ 9,530

Income taxes - Provision for In

Income taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Taxes calculated using the estimated annual effective tax rate	$ 276	$ 361
Discrete tax items	(38)	(36)
Provision for income taxes	$ 238	$ 325
Effective tax rate	12%	13%

Income taxes - Additional Infor

Income taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Statutory corporate tax rate	21%

Valuation of debt and equity _3

Valuation of debt and equity investments and certain liabilities - Investments at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	$ 4,477	$ 3,050
Short-Term Investments	5,068	6,017
Long-Term Investments	29	34
Measured at fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	4,135	2,343
Short-Term Investments	5,068	6,017
Long-Term Investments	10	11
Measured at fair value | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	3,040	1,238
Short-Term Investments	0	0
Long-Term Investments	0	0
Measured at fair value | Corporate obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	198	276
Short-Term Investments	1,350	1,535
Long-Term Investments	0	0
Measured at fair value | U.S. government and agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	748	680
Short-Term Investments	3,570	4,234
Long-Term Investments	0	0
Measured at fair value | Non-U.S. government and agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	149	149
Short-Term Investments	148	248
Long-Term Investments	0	0
Measured at fair value | Mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	0	0
Short-Term Investments	0	0
Long-Term Investments	10	11
Other measurement basis | Equity-method investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	0	0
Short-Term Investments	0	0
Long-Term Investments	13	18
Other measurement basis | Non-marketable investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	0	0
Short-Term Investments	0	0
Long-Term Investments	6	5
Other measurement basis | Cash on hand
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	342	707
Short-Term Investments	0	0
Long-Term Investments	$ 0	$ 0

Valuation of debt and equity _4

Valuation of debt and equity investments and certain liabilities - Aggregate Liabilities of Our Available-for-Sale Debt Investments (Details) $ in Millions	Mar. 31, 2023 USD ($)
Fair Value Disclosures [Abstract]
One year or less	$ 6,089
One to two years	$ 74

Valuation of debt and equity _5

Valuation of debt and equity investments and certain liabilities - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit losses related to available-for-sale investments	$ 0	$ 0
Proceeds from sales, redemptions and maturities of short-term available-for-sale investments	4,030,000,000	$ 2,770,000,000
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities, fair value	0		$ 0
Assets, fair value	$ 0		$ 0

Valuation of debt and equity _6

Valuation of debt and equity investments and certain liabilities - Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	$ 9,213	$ 8,371
Total liabilities fair value	328	326
Deferred compensation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities fair value	328	326
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	7,368	6,163
Total liabilities fair value	328	326
Level 1 | Deferred compensation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities fair value	328	326
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	1,845	2,208
Total liabilities fair value	0	0
Level 2 | Deferred compensation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities fair value	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	3,040	1,238
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	3,040	1,238
Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	0	0
Corporate obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	1,548	1,811
Corporate obligations | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	0	0
Corporate obligations | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	1,548	1,811
U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	4,318	4,914
U.S. government and agency securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	4,318	4,914
U.S. government and agency securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	0	0
Non-U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	297	397
Non-U.S. government and agency securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	0	0
Non-U.S. government and agency securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	297	397
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	10	11
Mutual funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	10	11
Mutual funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	$ 0	$ 0

Postretirement benefit plans -

Postretirement benefit plans - Expense Related to Defined Benefit and Retiree Health Care Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
U.S. | Defined benefit plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2	$ 4
Interest cost	7	6
Expected return on plan assets	(6)	(8)
Recognized net actuarial losses (gains)	2	0
Net periodic benefit costs (credits)	5	2
Settlement losses	0	2
Total, including other postretirement losses (gains)	5	4
U.S. | Retiree health care plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1
Interest cost	4	3
Expected return on plan assets	(5)	(4)
Recognized net actuarial losses (gains)	(1)	0
Net periodic benefit costs (credits)	(2)	0
Settlement losses	0	0
Total, including other postretirement losses (gains)	(2)	0
Non-U.S. | Defined benefit plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	7
Interest cost	14	10
Expected return on plan assets	(15)	(18)
Recognized net actuarial losses (gains)	3	0
Net periodic benefit costs (credits)	6	(1)
Settlement losses	0	1
Total, including other postretirement losses (gains)	$ 6	$ 0

Debt and lines of credit - Addi

Debt and lines of credit - Additional Information (Details)	1 Months Ended	3 Months Ended
	Mar. 31, 2023 USD ($) seriesOfDebt	Mar. 31, 2023 USD ($) seriesOfDebt	Mar. 31, 2022 USD ($)
Debt Instrument [Line Items]
Commercial paper	$ 0	$ 0
Proceeds from issuance of long-term debt		1,397,000,000	$ 0
Interest and debt expense		$ 68,000,000	$ 52,000,000
Notes due 2033 at 4.90%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	4.90%	4.90%
Notes due 2053 at 5.00%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	5%	5%
Senior unsecured notes
Debt Instrument [Line Items]
Number of series of debt issued | seriesOfDebt	2	2
Principal amount	$ 1,400,000,000	$ 1,400,000,000
Debt issuance costs	11,000,000	11,000,000
Proceeds from issuance of long-term debt	1,400,000,000
Senior unsecured notes | Notes due 2033 at 4.90%
Debt Instrument [Line Items]
Principal amount	$ 750,000,000	$ 750,000,000
Long-term debt stated interest rate (in percentage)	4.90%	4.90%
Senior unsecured notes | Notes due 2053 at 5.00%
Debt Instrument [Line Items]
Principal amount	$ 650,000,000	$ 650,000,000
Long-term debt stated interest rate (in percentage)	5%	5%
Revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000	$ 1,000,000,000

Debt and lines of credit - Sche

Debt and lines of credit - Schedule of Long-term Debt Outstanding (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total debt	$ 10,200	$ 8,800
Net unamortized discounts, premiums and issuance costs	(74)	(65)
Total debt, including net unamortized discounts, premiums and issuance costs	10,126	8,735
Current portion of long-term debt	(500)	(500)
Long-term debt	$ 9,626	8,235
Notes due 2023 at 2.25%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	2.25%
Total debt	$ 500	500
Notes due 2024 at 2.625%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	2.625%
Total debt	$ 300	300
Notes due 2024 at 4.70%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	4.70%
Total debt	$ 300	300
Notes due 2025 at 1.375%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	1.375%
Total debt	$ 750	750
Notes due 2026 at 1.125%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	1.125%
Total debt	$ 500	500
Notes due 2027 at 2.90%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	2.90%
Total debt	$ 500	500
Notes due 2028 at 4.60%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	4.60%
Total debt	$ 500	500
Notes due 2029 at 2.25%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	2.25%
Total debt	$ 750	750
Notes due 2030 at 1.75%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	1.75%
Total debt	$ 750	750
Notes due 2031 at 1.90%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	1.90%
Total debt	$ 500	500
Notes due 2032 at 3.65%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	3.65%
Total debt	$ 400	400
Notes due 2033 at 4.90%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	4.90%
Total debt	$ 750	0
Notes due 2039 at 3.875%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	3.875%
Total debt	$ 750	750
Notes due 2048 at 4.15%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	4.15%
Total debt	$ 1,500	1,500
Notes due 2051 at 2.70%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	2.70%
Total debt	$ 500	500
Notes due 2052 at 4.10%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	4.10%
Total debt	$ 300	300
Notes due 2053 at 5.00%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	5%
Total debt	$ 650	$ 0

Stockholders' equity - Schedule

Stockholders' equity - Schedule of Changes in Stockholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	$ 14,577
Net income	1,708	$ 2,201
Other comprehensive income (loss), net of taxes	2	4
Balance, ending	15,243
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	1,741	1,741
Balance, ending	1,741	1,741
Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	2,951	2,630
Common stock issued for stock-based awards	(37)	(36)
Stock compensation	104	74
Other	(2)	(1)
Balance, ending	3,016	2,667
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	50,353	45,919
Net income	1,708	2,201
Dividends declared and paid	(1,125)	(1,063)
Dividend equivalents on RSUs	(6)	(5)
Other		1
Balance, ending	50,930	47,053
Treasury Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	(40,214)	(36,800)
Common stock issued for stock-based awards	118	93
Stock repurchases	(96)	(584)
Balance, ending	(40,192)	(37,291)
AOCI
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	(254)	(157)
Other comprehensive income (loss), net of taxes	2	4
Balance, ending	$ (252)	$ (153)

Stockholders' equity - Addition

Stockholders' equity - Additional Information (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 1.24	$ 1.15
Cash dividends paid per common share (in dollars per share)	$ 1.24	$ 1.15

Supplemental financial inform_3

Supplemental financial information - Other Long-Term Assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
U.S. CHIPS and Science Act investment tax credit	$ 619	$ 395
Other	736	740
Other long-term assets	$ 1,355	$ 1,135

Supplemental financial inform_4

Supplemental financial information - Amounts Reclassified out of AOCI (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net (OI&E)		$ 80	$ 15
Provision for income taxes		(238)	(325)
Net income		1,708	2,201
Reclassification out of Accumulated Other Comprehensive Income | Net actuarial losses of defined benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net (OI&E)	[1]	4	3
Provision for income taxes		(1)	(1)
Net income		$ 3	$ 2
[1]Detailed in Note 5

Supplemental financial inform_5

Supplemental financial information - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Asset Acquisition [Line Items]
Treasury shares issued related to stock compensation (in shares)	3
Lehi, Utah | Other
Asset Acquisition [Line Items]
Restructuring charges/other		$ 66