0000097476-22-000048 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 18, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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		907,571,712
Entity Central Index Key	0000097476
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 5,241	$ 4,643	$ 15,358	$ 13,512
Cost of revenue (COR)	1,624	1,491	4,674	4,486
Gross profit	3,617	3,152	10,684	9,026
Research and development (R&D)	431	388	1,236	1,165
Selling, general and administrative (SG&A)	431	412	1,275	1,262
Acquisition charges	0	47	0	142
Restructuring charges/other	77	0	209	0
Operating profit	2,678	2,305	7,964	6,457
Other income (expense), net (OI&E)	33	15	55	134
Interest and debt expense	53	45	154	135
Income before income taxes	2,658	2,275	7,865	6,456
Provision for income taxes	363	328	1,078	825
Net income	$ 2,295	$ 1,947	$ 6,787	$ 5,631
Earnings per common share (EPS):
Basic (in dollars per share)	$ 2.50	$ 2.10	$ 7.35	$ 6.08
Diluted (in dollars per share)	$ 2.47	$ 2.07	$ 7.27	$ 5.99
Average shares outstanding:
Basic (in shares)	913	923	919	923
Diluted (in shares)	923	936	929	936
Diluted EPS:
Net income	$ 2,295	$ 1,947	$ 6,787	$ 5,631
Income allocated to RSUs	(11)	(9)	(30)	(24)
Income allocated to common stock for diluted EPS	$ 2,284	$ 1,938	$ 6,757	$ 5,607

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 2,295	$ 1,947	$ 6,787	$ 5,631
Net actuarial losses of defined benefit plans:
Adjustments, net of tax effect of ($4) and ($1); $2 and ($8)	11	3	(23)	24
Recognized within net income, net of tax effect of ($4) and ($2); ($9) and ($7)	15	8	33	24
Prior service credit of defined benefit plans:
Adjustments, net of tax effect of $0 and $0; $0 and $0	1	0	1	0
Recognized within net income, net of tax effect of $0 and $0; $0 and $0	(1)	(1)	(1)	(1)
Derivative instruments:
Change in fair value, net of tax effect of $0 and $0; $0 and $0	1	0	1	0
Available-for-sale investments:
Unrealized losses, net of tax effect of $0 and $0; $2 and $0	(1)	0	(8)	0
Other comprehensive income (loss), net of taxes	26	10	3	47
Total comprehensive income	$ 2,321	$ 1,957	$ 6,790	$ 5,678

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net actuarial losses of defined benefit plans adjustment, tax effect	$ (4)	$ (1)	$ 2	$ (8)
Net actuarial losses of defined benefit plans recognized within net income, tax effect	(4)	(2)	(9)	(7)
Prior service credit of defined benefit plans adjustments, tax effect	0	0	0	0
Prior service credit of defined benefit plans recognized within net income, tax effect	0	0	0	0
Derivative instruments, unrealized losses, tax	0	0	0	0
Available-for-sale investments unrealized losses, tax effect	$ 0	$ 0	$ 2	$ 0

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 3,169	$ 4,631
Short-term investments	5,921	5,108
Accounts receivable, net of allowances of ($10) and ($8)	2,040	1,701
Raw materials	333	245
Work in process	1,347	1,067
Finished goods	724	598
Inventories	2,404	1,910
Prepaid expenses and other current assets	238	335
Total current assets	13,772	13,685
Property, plant and equipment at cost	9,491	7,858
Accumulated depreciation	(3,006)	(2,717)
Property, plant and equipment	6,485	5,141
Goodwill	4,362	4,362
Deferred tax assets	291	263
Capitalized software licenses	75	85
Overfunded retirement plans	273	392
Other long-term assets	799	748
Total assets	26,057	24,676
Current liabilities:
Current portion of long-term debt	499	500
Accounts payable	780	571
Accrued compensation	662	775
Income taxes payable	123	121
Accrued expenses and other liabilities	734	602
Total current liabilities	2,798	2,569
Long-term debt	7,438	7,241
Underfunded retirement plans	69	79
Deferred tax liabilities	92	87
Other long-term liabilities	1,153	1,367
Total liabilities	11,550	11,343
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	2,877	2,630
Retained earnings	49,519	45,919
Treasury common stock at cost: Shares: September 30, 2022 –831; December 31, 2021 – 817	(39,476)	(36,800)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(154)	(157)
Total stockholders’ equity	14,507	13,333
Total liabilities and stockholders’ equity	$ 26,057	$ 24,676

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Allowance for doubtful accounts receivable, current	$ (10)	$ (8)
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)	831	817

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net income	$ 6,787	$ 5,631
Adjustments to net income:
Depreciation	676	555
Amortization of acquisition-related intangibles	0	142
Amortization of capitalized software	40	44
Stock compensation	227	180
Gains on sales of assets	(3)	(7)
Deferred taxes	(18)	19
Increase (decrease) from changes in:
Accounts receivable	(339)	(239)
Inventories	(494)	92
Prepaid expenses and other current assets	45	99
Accounts payable and accrued expenses	72	87
Accrued compensation	(114)	(103)
Income taxes payable	26	(54)
Changes in funded status of retirement plans	126	48
Other	(353)	(95)
Cash flows from operating activities	6,678	6,399
Cash flows from investing activities
Capital expenditures	(1,830)	(1,180)
Proceeds from asset sales	3	7
Purchases of short-term investments	(10,795)	(6,427)
Proceeds from short-term investments	10,007	5,770
Other	59	(36)
Cash flows from investing activities	(2,556)	(1,866)
Cash flows from financing activities
Proceeds from issuance of long-term debt	695	1,495
Repayment of debt	(500)	(550)
Dividends paid	(3,174)	(2,824)
Stock repurchases	(2,767)	(385)
Proceeds from common stock transactions	191	325
Other	(29)	(38)
Cash flows from financing activities	(5,584)	(1,977)
Net change in cash and cash equivalents	(1,462)	2,556
Cash and cash equivalents at beginning of period	4,631	3,107
Cash and cash equivalents at end of period	$ 3,169	$ 5,663

Description of business, including segment and geographic area information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Description of business, including segment and geographic area information

We design, make and sell semiconductors 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.

•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				For Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Revenue:
Analog	$	3,993	$	3,548	$	11,801	$	10,292
Embedded Processing	821		738		2,424		2,285
Other	427		357		1,133		935
Total revenue	$	5,241	$	4,643	$	15,358	$	13,512

Operating profit:
Analog	$	2,185	$	1,871	$	6,561	$	5,295
Embedded Processing	321		282		960		881
Other (a)	172		152		443		281
Total operating profit	$	2,678	$	2,305	$	7,964	$	6,457

(a)Includes acquisition charges and restructuring charges/other

Geographic area information

The following geographic area information includes revenue, based on product shipment destination. The geographic revenue information does not necessarily reflect end demand by geography because our products tend to be shipped to the locations where our customers manufacture their products.


	For Three Months Ended				For Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Revenue:
United States	$	694	$	515	$	1,765	$	1,437
Asia (a)	3,135		3,082		9,733		8,933
Europe, Middle East and Africa	942		683		2,578		2,061
Japan	310		242		849		716
Rest of world	160		121		433		365
Total revenue	$	5,241	$	4,643	$	15,358	$	13,512

(a)Revenue from products shipped into China was $2.4 billion and $2.5 billion in the third quarters of 2022 and 2021, respectively, and $7.7 billion and $7.3 billion in the first nine months of 2022 and 2021, respectively, which 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.

Basis of presentation and significant accounting policies and practices

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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, 2021. The Consolidated Statements of Income, Comprehensive Income and Cash Flows for the periods ended September 30, 2022 and 2021, and the Consolidated Balance Sheet as of September 30, 2022, 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, 2021. Certain amounts in prior periods' financial statements have been reclassified to conform to the current presentation. The results for the three- and nine-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 September 30,
	2022					2021
	Net Income		Shares	EPS		Net Income		Shares	EPS
Basic EPS:
Net income	$	2,295				$	1,947
Income allocated to RSUs	(11)					(9)
Income allocated to common stock	$	2,284	913	$	2.50	$	1,938	923	$	2.10
Dilutive effect of stock compensation plans			10					13

Diluted EPS:
Net income	$	2,295				$	1,947
Income allocated to RSUs	(11)					(9)
Income allocated to common stock	$	2,284	923	$	2.47	$	1,938	936	$	2.07

	For Nine Months Ended September 30,
	2022					2021
	Net Income		Shares	EPS		Net Income		Shares	EPS
Basic EPS:
Net income	$	6,787				$	5,631
Income allocated to RSUs	(30)					(23)
Income allocated to common stock	$	6,757	919	$	7.35	$	5,608	923	$	6.08
Dilutive effect of stock compensation plans			10					13

Diluted EPS:
Net income	$	6,787				$	5,631
Income allocated to RSUs	(30)					(24)
Income allocated to common stock	$	6,757	929	$	7.27	$	5,607	936	$	5.99

Potentially dilutive securities representing 6 million and 2 million shares of common stock that were outstanding during the third quarters of 2022 and 2021, respectively, and 5 million and 3 million shares outstanding during the first nine months of 2022 and 2021, 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 September 30, 2022. 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 September 30, 2022, the carrying value of long-term debt, including the current portion, was $7.94 billion, and the estimated fair value was $6.91 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

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income taxes

Provision for income taxes is based on the following:


	For Three Months Ended						For Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Taxes calculated using the estimated annual effective tax rate	$	391		$	337		$	1,147		$	934
Discrete tax items	(28)			(9)			(69)			(109)
Provision for income taxes	$	363		$	328		$	1,078		$	825

Effective tax rate	14		%	14		%	14		%	13		%

The effective tax rate differs from the 21% U.S. statutory corporate tax rate due to the effect of U.S. tax benefits.

On August 16, 2022, the U.S. government enacted the Inflation Reduction Act (IRA), which introduces a new 15% corporate minimum tax effective January 1, 2023, based on adjusted financial statement income. Based on our current analysis of the provisions, we do not believe this legislation will have a material impact on our consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Valuation of debt and equity investments and certain liabilities

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Valuation of debt and equity investments and certain liabilities

Investments measured at fair value

Money market funds, available-for-sale debt investments and mutual funds are stated at fair value, which is generally based on market prices or broker quotes. See Fair-value considerations. Unrealized gains and losses from available-for-sale debt securities are recorded as an increase or decrease, net of taxes, in AOCI on our Consolidated Balance Sheets, and any credit losses on available-for-sale debt securities 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 equity investments, which are not measured at fair value. These investments consist of interests in venture capital funds and other non-marketable equity 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 equity securities are measured at cost with adjustments for observable changes in price or impairments. Gains and losses on non-marketable equity investments are recognized in OI&E.

Details of our investments are as follows:


	September 30, 2022						December 31, 2021
	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	$	1,043	$	—	$	—	$	1,824	$	—	$	—
Corporate obligations	596		1,272		—		1,060		1,070		—
U.S. government and agency securities	798		4,301		—		642		3,388		—
Non-U.S. government and agency securities	50		348		—		300		650		—
Mutual funds	—		—		11		—		—		16
Total	2,487		5,921		11		3,826		5,108		16

Other measurement basis:
Equity-method investments	—		—		21		—		—		42
Non-marketable investments	—		—		5		—		—		4
Cash on hand	682		—		—		805		—		—
Total	$	3,169	$	5,921	$	37	$	4,631	$	5,108	$	62

As of September 30, 2022, and December 31, 2021, unrealized gains and losses associated with our available-for-sale investments were not material. We did not recognize any credit losses related to available-for-sale investments for the first nine months of 2022 and 2021.

Proceeds from sales, redemptions and maturities of short-term available-for-sale investments were $3.03 billion and $1.32 billion for the third quarters of 2022 and 2021, respectively, and $10.01 billion and $5.77 billion for the first nine months of 2022 and 2021, respectively. Gross realized gains and losses from these sales were not material.

The following table presents the aggregate maturities of our available-for-sale debt investments as of September 30, 2022:


	Fair Value
One year or less	$	7,292
One to two years	73

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 September 30, 2022, our Level 3 assets and liabilities were not material. As of December 31, 2021, 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.


	September 30, 2022						December 31, 2021
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Money market funds	$	1,043	$	—	$	1,043	$	1,824	$	—	$	1,824
Corporate obligations	—		1,868		1,868		—		2,130		2,130
U.S. government and agency securities	5,099		—		5,099		3,629		401		4,030
Non-U.S. government and agency securities	—		398		398		—		950		950
Mutual funds	11		—		11		16		—		16
Total assets	$	6,153	$	2,266	$	8,419	$	5,469	$	3,481	$	8,950

Liabilities:
Deferred compensation	$	310	$	—	$	310	$	395	$	—	$	395
Total liabilities	$	310	$	—	$	310	$	395	$	—	$	395

Postretirement benefit plans

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Postretirement benefit plans

Postretirement benefit plansExpenses 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 September 30,	2022		2021		2022		2021		2022		2021
Service cost	$	4	$	5	$	1	$	—	$	6	$	9
Interest cost	8		8		3		3		7		9
Expected return on plan assets	(6)		(8)		(3)		(2)		(15)		(20)
Recognized net actuarial loss	1		3		—		—		1		2
Amortization of prior service cost (credit)	—		—		(1)		(1)		—		—
Net periodic benefit costs	7		8		—		—		(1)		—
Settlement losses	16		4		—		—		1		1
Total, including other postretirement losses	$	23	$	12	$	—	$	—	$	—	$	1

	U.S. Defined Benefit				U.S. Retiree Health Care				Non-U.S. Defined Benefit
For Nine Months Ended September 30,	2022		2021		2022		2021		2022		2021
Service cost	$	12	$	16	$	2	$	2	$	19	$	27
Interest cost	20		23		8		8		26		28
Expected return on plan assets	(22)		(25)		(9)		(8)		(50)		(61)
Recognized net actuarial loss	2		11		—		—		1		6
Amortization of prior service cost (credit)	—		—		(1)		(1)		—		—
Net periodic benefit costs	12		25		—		1		(4)		—
Settlement losses	29		12		—		—		10		2
Total, including other postretirement losses	$	41	$	37	$	—	$	1	$	6	$	2

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Debt and lines of credit

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Debt and lines of credit

Short-term borrowings

We maintain a line of credit to support commercial paper borrowings, if any, and to provide additional liquidity through bank loans. As of September 30, 2022, we had a variable-rate revolving credit facility from a consortium of investment-grade banks that allows us to borrow up to $1 billion until March 2023. 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 September 30, 2022, our credit facility was undrawn, and we had no commercial paper outstanding.

Long-term debt

In August 2022, we issued two series of senior unsecured notes for an aggregate principal amount of $700 million, consisting of $400 million of 3.65% notes due in 2032 and $300 million of 4.10% notes due in 2052. We incurred $3 million of issuance and other related costs. The proceeds of the offering were $695 million, net of the original issuance discounts, which will be used for general corporate purposes.

In April 2022, we retired $500 million of maturing debt.

Long-term debt outstanding is as follows:


	September 30,		December 31,
	2022		2021
Notes due 2022 at 1.85%	$	—	$	500
Notes due 2023 at 2.25%	500		500
Notes due 2024 at 2.625%	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 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		—
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		—
Total debt	8,000		7,800
Net unamortized discounts, premiums and issuance costs	(63)		(59)
Total debt, including net unamortized discounts, premiums and issuance costs	7,937		7,741
Current portion of long-term debt	(499)		(500)
Long-term debt	$	7,438	$	7,241

Interest and debt expense was $53 million and $45 million for the third quarters of 2022 and 2021, respectively, and $154 million and $135 million for the first nine months of 2022 and 2021, respectively. This was net of the amortized discounts, premiums, issuance and other related costs. Capitalized interest was not material.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Stockholders' equity

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Stockholders’ equity

Stockholders’ equityChanges in equity are as follows:


	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)

Net income	—		—		2,291		—		—
Dividends declared and paid ($1.15 per share)	—		—		(1,060)		—		—
Common stock issued for stock-based awards	—		31		—		25		—
Stock repurchases	—		—		—		(1,266)		—
Stock compensation	—		85		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		(27)
Dividend equivalents on RSUs	—		—		(4)		—		—

Balance, June 30, 2022	1,741		2,783		48,280		(38,532)		(180)

Net income	—		—		2,295		—		—
Dividends declared and paid ($1.15 per share)	—		—		(1,051)		—		—
Common stock issued for stock-based awards	—		26		—		52		—
Stock repurchases	—		—		—		(996)		—
Stock compensation	—		68		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		26
Dividend equivalents on RSUs	—		—		(5)		—		—

Balance, September 30, 2022	$	1,741	$	2,877	$	49,519	$	(39,476)	$	(154)


	Common Stock		Paid-in Capital		Retained Earnings		Treasury Common Stock		AOCI
Balance, December 31, 2020	$	1,741	$	2,333	$	42,051	$	(36,578)	$	(360)

2021
Net income	—		—		1,753		—		—
Dividends declared and paid ($1.02 per share)	—		—		(940)		—		—
Common stock issued for stock-based awards	—		(3)		—		199		—
Stock repurchases	—		—		—		(100)		—
Stock compensation	—		61		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		13
Dividend equivalents on RSUs	—		—		(4)		—		—

Balance, March 31, 2021	1,741		2,391		42,860		(36,479)		(347)

Net income	—		—		1,931		—		—
Dividends declared and paid ($1.02 per share)	—		—		(942)		—		—
Common stock issued for stock-based awards	—		25		—		29		—
Stock repurchases	—		—		—		(146)		—
Stock compensation	—		69		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		24
Dividend equivalents on RSUs	—		—		(4)		—		—
Other	—		—		1		—		—
Balance, June 30, 2021	1,741		2,485		43,846		(36,596)		(323)

Net income	—		—		1,947		—		—
Dividends declared and paid ($1.02 per share)	—		—		(942)		—		—
Common stock issued for stock-based awards	—		27		—		48		—
Stock repurchases	—		—		—		(139)		—
Stock compensation	—		50		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		10
Dividend equivalents on RSUs	—		—		(3)		—		—
Other	—		1		(1)		—		—
Balance, September 30, 2021	$	1,741	$	2,563	$	44,847	$	(36,687)	$	(313)

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2022
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 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. 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 financial condition, results of operations or liquidity. 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. 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 financial condition, results of operations or liquidity.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Supplemental financial information

9 Months Ended

Sep. 30, 2022

Disclosure Text Block Supplement [Abstract]

Supplemental financial information

Restructuring charges/other

During the third quarter and first nine months of 2022, restructuring charges/other included $77 million and $209 million, respectively, related to integration charges at our Lehi, Utah, manufacturing facility. These costs are included in Other for segment reporting purposes.

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 third quarters and first nine months of 2022 and 2021. The table below details where these transactions are recorded in our Consolidated Statements of Income.


	For Three Months Ended				For Nine Months Ended				Impact to Related Statement of Income Lines
	September 30,				September 30,
	2022		2021		2022		2021
Net actuarial losses of defined benefit plans:
Recognized net actuarial loss and settlement losses (a)	$	19	$	10	$	42	$	31	Decrease to OI&E
Tax effect	(4)		(2)		(9)		(7)		Decrease to provision for income taxes
Recognized within net income, net of taxes	$	15	$	8	$	33	$	24	Decrease to net income

Prior service credit of defined benefit plans:
Amortization of prior service credit (a)	$	(1)	$	(1)	$	(1)	$	(1)	Increase to OI&E
Tax effect	—		—		—		—		Increase to provision for income taxes
Recognized within net income, net of taxes	$	(1)	$	(1)	$	(1)	$	(1)	Increase to net income

(a)Detailed in Note 5

Stock compensation

During the third quarter and first nine months of 2022, 1 million and 3 million shares, respectively, were issued from treasury related to stock compensation.

Basis of presentation and significant accounting policies and practices (Policies)	9 Months Ended
	Sep. 30, 2022
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, 2021. The Consolidated Statements of Income, Comprehensive Income and Cash Flows for the periods ended September 30, 2022 and 2021, and the Consolidated Balance Sheet as of September 30, 2022, 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, 2021. Certain amounts in prior periods' financial statements have been reclassified to conform to the current presentation. The results for the three- and nine-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 instruments The fair values of our derivative financial instruments were not material as of September 30, 2022. 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 September 30, 2022, the carrying value of long-term debt, including the current portion, was $7.94 billion, and the estimated fair value was $6.91 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.
Investments measured at fair value	Investments measured at fair value Money market funds, available-for-sale debt investments and mutual funds are stated at fair value, which is generally based on market prices or broker quotes. See Fair-value considerations. Unrealized gains and losses from available-for-sale debt securities are recorded as an increase or decrease, net of taxes, in AOCI on our Consolidated Balance Sheets, and any credit losses on available-for-sale debt securities 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 equity investments, which are not measured at fair value. These investments consist of interests in venture capital funds and other non-marketable equity 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 equity securities are measured at cost with adjustments for observable changes in price or impairments. Gains and losses on non-marketable equity 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 September 30, 2022, our Level 3 assets and liabilities were not material. As of December 31, 2021, 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 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. 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 financial condition, results of operations or liquidity. 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.

Description of business, including segment and geographic area information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Information

Segment information


	For Three Months Ended				For Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Revenue:
Analog	$	3,993	$	3,548	$	11,801	$	10,292
Embedded Processing	821		738		2,424		2,285
Other	427		357		1,133		935
Total revenue	$	5,241	$	4,643	$	15,358	$	13,512

Operating profit:
Analog	$	2,185	$	1,871	$	6,561	$	5,295
Embedded Processing	321		282		960		881
Other (a)	172		152		443		281
Total operating profit	$	2,678	$	2,305	$	7,964	$	6,457

(a)Includes acquisition charges and restructuring charges/other

Schedule of Geographic Area Information

Geographic area information


	For Three Months Ended				For Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Revenue:
United States	$	694	$	515	$	1,765	$	1,437
Asia (a)	3,135		3,082		9,733		8,933
Europe, Middle East and Africa	942		683		2,578		2,061
Japan	310		242		849		716
Rest of world	160		121		433		365
Total revenue	$	5,241	$	4,643	$	15,358	$	13,512

Basis of presentation and significant accounting policies and practices (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30,
	2022					2021
	Net Income		Shares	EPS		Net Income		Shares	EPS
Basic EPS:
Net income	$	2,295				$	1,947
Income allocated to RSUs	(11)					(9)
Income allocated to common stock	$	2,284	913	$	2.50	$	1,938	923	$	2.10
Dilutive effect of stock compensation plans			10					13

Diluted EPS:
Net income	$	2,295				$	1,947
Income allocated to RSUs	(11)					(9)
Income allocated to common stock	$	2,284	923	$	2.47	$	1,938	936	$	2.07

	For Nine Months Ended September 30,
	2022					2021
	Net Income		Shares	EPS		Net Income		Shares	EPS
Basic EPS:
Net income	$	6,787				$	5,631
Income allocated to RSUs	(30)					(23)
Income allocated to common stock	$	6,757	919	$	7.35	$	5,608	923	$	6.08
Dilutive effect of stock compensation plans			10					13

Diluted EPS:
Net income	$	6,787				$	5,631
Income allocated to RSUs	(30)					(24)
Income allocated to common stock	$	6,757	929	$	7.27	$	5,607	936	$	5.99

Income taxes (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Provision for income taxes

Provision for income taxes is based on the following:


	For Three Months Ended						For Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Taxes calculated using the estimated annual effective tax rate	$	391		$	337		$	1,147		$	934
Discrete tax items	(28)			(9)			(69)			(109)
Provision for income taxes	$	363		$	328		$	1,078		$	825

Effective tax rate	14		%	14		%	14		%	13		%

Valuation of debt and equity investments and certain liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Investments

Details of our investments are as follows:


	September 30, 2022						December 31, 2021
	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	$	1,043	$	—	$	—	$	1,824	$	—	$	—
Corporate obligations	596		1,272		—		1,060		1,070		—
U.S. government and agency securities	798		4,301		—		642		3,388		—
Non-U.S. government and agency securities	50		348		—		300		650		—
Mutual funds	—		—		11		—		—		16
Total	2,487		5,921		11		3,826		5,108		16

Other measurement basis:
Equity-method investments	—		—		21		—		—		42
Non-marketable investments	—		—		5		—		—		4
Cash on hand	682		—		—		805		—		—
Total	$	3,169	$	5,921	$	37	$	4,631	$	5,108	$	62

Aggregate Maturities of Available-for-sale Debt Investments

The following table presents the aggregate maturities of our available-for-sale debt investments as of September 30, 2022:


	Fair Value
One year or less	$	7,292
One to two years	73

Assets and Liabilities Accounted for at Fair Value


	September 30, 2022						December 31, 2021
	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Money market funds	$	1,043	$	—	$	1,043	$	1,824	$	—	$	1,824
Corporate obligations	—		1,868		1,868		—		2,130		2,130
U.S. government and agency securities	5,099		—		5,099		3,629		401		4,030
Non-U.S. government and agency securities	—		398		398		—		950		950
Mutual funds	11		—		11		16		—		16
Total assets	$	6,153	$	2,266	$	8,419	$	5,469	$	3,481	$	8,950

Liabilities:
Deferred compensation	$	310	$	—	$	310	$	395	$	—	$	395
Total liabilities	$	310	$	—	$	310	$	395	$	—	$	395

Postretirement benefit plans (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

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 September 30,	2022		2021		2022		2021		2022		2021
Service cost	$	4	$	5	$	1	$	—	$	6	$	9
Interest cost	8		8		3		3		7		9
Expected return on plan assets	(6)		(8)		(3)		(2)		(15)		(20)
Recognized net actuarial loss	1		3		—		—		1		2
Amortization of prior service cost (credit)	—		—		(1)		(1)		—		—
Net periodic benefit costs	7		8		—		—		(1)		—
Settlement losses	16		4		—		—		1		1
Total, including other postretirement losses	$	23	$	12	$	—	$	—	$	—	$	1

	U.S. Defined Benefit				U.S. Retiree Health Care				Non-U.S. Defined Benefit
For Nine Months Ended September 30,	2022		2021		2022		2021		2022		2021
Service cost	$	12	$	16	$	2	$	2	$	19	$	27
Interest cost	20		23		8		8		26		28
Expected return on plan assets	(22)		(25)		(9)		(8)		(50)		(61)
Recognized net actuarial loss	2		11		—		—		1		6
Amortization of prior service cost (credit)	—		—		(1)		(1)		—		—
Net periodic benefit costs	12		25		—		1		(4)		—
Settlement losses	29		12		—		—		10		2
Total, including other postretirement losses	$	41	$	37	$	—	$	1	$	6	$	2

Debt and lines of credit (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt outstanding is as follows:


	September 30,		December 31,
	2022		2021
Notes due 2022 at 1.85%	$	—	$	500
Notes due 2023 at 2.25%	500		500
Notes due 2024 at 2.625%	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 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		—
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		—
Total debt	8,000		7,800
Net unamortized discounts, premiums and issuance costs	(63)		(59)
Total debt, including net unamortized discounts, premiums and issuance costs	7,937		7,741
Current portion of long-term debt	(499)		(500)
Long-term debt	$	7,438	$	7,241

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Topic 235
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-Section S99
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-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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+ Details

Stockholders' equity (Tables)

9 Months Ended

Sep. 30, 2022

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, 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)

Net income	—		—		2,291		—		—
Dividends declared and paid ($1.15 per share)	—		—		(1,060)		—		—
Common stock issued for stock-based awards	—		31		—		25		—
Stock repurchases	—		—		—		(1,266)		—
Stock compensation	—		85		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		(27)
Dividend equivalents on RSUs	—		—		(4)		—		—

Balance, June 30, 2022	1,741		2,783		48,280		(38,532)		(180)

Net income	—		—		2,295		—		—
Dividends declared and paid ($1.15 per share)	—		—		(1,051)		—		—
Common stock issued for stock-based awards	—		26		—		52		—
Stock repurchases	—		—		—		(996)		—
Stock compensation	—		68		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		26
Dividend equivalents on RSUs	—		—		(5)		—		—

Balance, September 30, 2022	$	1,741	$	2,877	$	49,519	$	(39,476)	$	(154)


	Common Stock		Paid-in Capital		Retained Earnings		Treasury Common Stock		AOCI
Balance, December 31, 2020	$	1,741	$	2,333	$	42,051	$	(36,578)	$	(360)

2021
Net income	—		—		1,753		—		—
Dividends declared and paid ($1.02 per share)	—		—		(940)		—		—
Common stock issued for stock-based awards	—		(3)		—		199		—
Stock repurchases	—		—		—		(100)		—
Stock compensation	—		61		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		13
Dividend equivalents on RSUs	—		—		(4)		—		—

Balance, March 31, 2021	1,741		2,391		42,860		(36,479)		(347)

Net income	—		—		1,931		—		—
Dividends declared and paid ($1.02 per share)	—		—		(942)		—		—
Common stock issued for stock-based awards	—		25		—		29		—
Stock repurchases	—		—		—		(146)		—
Stock compensation	—		69		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		24
Dividend equivalents on RSUs	—		—		(4)		—		—
Other	—		—		1		—		—
Balance, June 30, 2021	1,741		2,485		43,846		(36,596)		(323)

Net income	—		—		1,947		—		—
Dividends declared and paid ($1.02 per share)	—		—		(942)		—		—
Common stock issued for stock-based awards	—		27		—		48		—
Stock repurchases	—		—		—		(139)		—
Stock compensation	—		50		—		—		—
Other comprehensive income (loss), net of taxes	—		—		—		—		10
Dividend equivalents on RSUs	—		—		(3)		—		—
Other	—		1		(1)		—		—
Balance, September 30, 2021	$	1,741	$	2,563	$	44,847	$	(36,687)	$	(313)

Supplemental financial information (Tables)

9 Months Ended

Sep. 30, 2022

Disclosure Text Block Supplement [Abstract]

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				For Nine Months Ended				Impact to Related Statement of Income Lines
	September 30,				September 30,
	2022		2021		2022		2021
Net actuarial losses of defined benefit plans:
Recognized net actuarial loss and settlement losses (a)	$	19	$	10	$	42	$	31	Decrease to OI&E
Tax effect	(4)		(2)		(9)		(7)		Decrease to provision for income taxes
Recognized within net income, net of taxes	$	15	$	8	$	33	$	24	Decrease to net income

Prior service credit of defined benefit plans:
Amortization of prior service credit (a)	$	(1)	$	(1)	$	(1)	$	(1)	Increase to OI&E
Tax effect	—		—		—		—		Increase to provision for income taxes
Recognized within net income, net of taxes	$	(1)	$	(1)	$	(1)	$	(1)	Increase to net income

(a)Detailed in Note 5

Description of business, including segment and geographic area information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 reportable_segment
Segment Reporting [Abstract]
Number of reportable segments	2

Description of business, including segment and geographic area information - Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 5,241	$ 4,643	$ 15,358	$ 13,512
Total operating profit	2,678	2,305	7,964	6,457
Analog
Segment Reporting Information [Line Items]
Total revenue	3,993	3,548	11,801	10,292
Total operating profit	2,185	1,871	6,561	5,295
Embedded Processing
Segment Reporting Information [Line Items]
Total revenue	821	738	2,424	2,285
Total operating profit	321	282	960	881
Other
Segment Reporting Information [Line Items]
Total revenue	427	357	1,133	935
Total operating profit	$ 172	$ 152	$ 443	$ 281

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Description of business, including segment and geographic area information - Geographic Area Information (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Segment Reporting Information [Line Items]

Total revenue

$ 5,241

$ 4,643

$ 15,358

$ 13,512

United States

Segment Reporting Information [Line Items]

Total revenue

694

515

1,765

1,437

Asia

Segment Reporting Information [Line Items]

Total revenue

^[1]

3,135

3,082

9,733

8,933

Europe, Middle East and Africa

Segment Reporting Information [Line Items]

Total revenue

942

683

2,578

2,061

Japan

Segment Reporting Information [Line Items]

Total revenue

310

242

849

716

Rest of world

Segment Reporting Information [Line Items]

Total revenue

160

121

433

365

China

Segment Reporting Information [Line Items]

Total revenue

$ 2,400

$ 2,500

$ 7,700

$ 7,300

[1]

Revenue from products shipped into China was $2.4 billion and $2.5 billion in the third quarters of 2022 and 2021, respectively, and $7.7 billion and $7.3 billion in the first nine months of 2022 and 2021, respectively, which 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.

- Definition

+ References

+ Details

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic EPS:
Net income	$ 2,295	$ 1,947	$ 6,787	$ 5,631
Income allocated to RSUs	(11)	(9)	(30)	(23)
Income allocated to common stock	$ 2,284	$ 1,938	$ 6,757	$ 5,608
Weighted average number of shares outstanding, basic (in shares)	913	923	919	923
Basic (in dollars per share)	$ 2.50	$ 2.10	$ 7.35	$ 6.08
Dilutive effect of stock compensation plans (in shares)	10	13	10	13
Diluted EPS:
Net income	$ 2,295	$ 1,947	$ 6,787	$ 5,631
Income allocated to RSUs	(11)	(9)	(30)	(24)
Income allocated to common stock for diluted EPS	$ 2,284	$ 1,938	$ 6,757	$ 5,607
Weighted average number of shares outstanding, diluted (in shares)	923	936	929	936
Diluted (in dollars per share)	$ 2.47	$ 2.07	$ 7.27	$ 5.99

Basis of presentation and significant accounting policies and practices - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Antidilutive securities excluded from computation of earnings per share, Amount (in shares)	6	2	5	3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, carrying value	$ 7,937		$ 7,937		$ 7,741
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, estimated fair value	$ 6,910		$ 6,910

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Income taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Taxes calculated using the estimated annual effective tax rate	$ 391	$ 337	$ 1,147	$ 934
Discrete tax items	(28)	(9)	(69)	(109)
Provision for income taxes	$ 363	$ 328	$ 1,078	$ 825
Effective tax rate	14.00%	14.00%	14.00%	13.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income taxes - Additional Information (Details)	9 Months Ended
Income taxes - Additional Information (Details)	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Statutory corporate tax rate	21.00%

Valuation of debt and equity investments and certain liabilities - Investments at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	$ 3,169	$ 4,631
Short-Term Investments	5,921	5,108
Long-Term Investments	37	62
Measured at fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	2,487	3,826
Short-Term Investments	5,921	5,108
Long-Term Investments	11	16
Measured at fair value \| Available-for-sale debt securities \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	1,043	1,824
Short-Term Investments	0	0
Long-Term Investments	0	0
Measured at fair value \| Available-for-sale debt securities \| Corporate obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	596	1,060
Short-Term Investments	1,272	1,070
Long-Term Investments	0	0
Measured at fair value \| Available-for-sale debt securities \| U.S. government and agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	798	642
Short-Term Investments	4,301	3,388
Long-Term Investments	0	0
Measured at fair value \| Available-for-sale debt securities \| Non-U.S. government and agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	50	300
Short-Term Investments	348	650
Long-Term Investments	0	0
Measured at fair value \| Trading securities \| 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	11	16
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	21	42
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	5	4
Other measurement basis \| Cash on hand
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	682	805
Short-Term Investments	0	0
Long-Term Investments	$ 0	$ 0

Valuation of debt and equity investments and certain liabilities - Aggregate Liabilities of Our Available-for-Sale Debt Investments (Details) $ in Millions	Sep. 30, 2022 USD ($)
Fair Value Disclosures [Abstract]
One year or less	$ 7,292
One to two years	$ 73

Valuation of debt and equity investments and certain liabilities - Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Recurring - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	$ 8,419	$ 8,950
Total liabilities fair value	310	395
Deferred compensation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities fair value	310	395
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	6,153	5,469
Total liabilities fair value	310	395
Level 1 \| Deferred compensation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities fair value	310	395
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	2,266	3,481
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	1,043	1,824
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	1,043	1,824
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	1,868	2,130
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	1,868	2,130
U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	5,099	4,030
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	5,099	3,629
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	401
Non-U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	398	950
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	398	950
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	11	16
Mutual funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	11	16
Mutual funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets fair value	$ 0	$ 0

Valuation of debt and equity investments and certain liabilities - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
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	$ 3,030,000,000.00	$ 1,320,000,000	10,010,000,000.00	$ 5,770,000,000
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities, fair value	0		0		$ 0
Assets, fair value	$ 0		$ 0		$ 0

Postretirement benefit plans - Expense Related to Defined Benefit and Retiree Health Care Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
U.S. \| Defined benefit plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	$ 5	$ 12	$ 16
Interest cost	8	8	20	23
Expected return on plan assets	(6)	(8)	(22)	(25)
Recognized net actuarial loss	1	3	2	11
Amortization of prior service cost (credit)	0	0	0	0
Net periodic benefit costs	7	8	12	25
Settlement losses	16	4	29	12
Total, including other postretirement losses	23	12	41	37
U.S. \| Retiree health care plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	0	2	2
Interest cost	3	3	8	8
Expected return on plan assets	(3)	(2)	(9)	(8)
Recognized net actuarial loss	0	0	0	0
Amortization of prior service cost (credit)	(1)	(1)	(1)	(1)
Net periodic benefit costs	0	0	0	1
Settlement losses	0	0	0	0
Total, including other postretirement losses	0	0	0	1
Non-U.S. \| Defined benefit plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	9	19	27
Interest cost	7	9	26	28
Expected return on plan assets	(15)	(20)	(50)	(61)
Recognized net actuarial loss	1	2	1	6
Amortization of prior service cost (credit)	0	0	0	0
Net periodic benefit costs	(1)	0	(4)	0
Settlement losses	1	1	10	2
Total, including other postretirement losses	$ 0	$ 1	$ 6	$ 2

Debt and lines of credit - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Aug. 31, 2022	Apr. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Commercial paper			$ 0		$ 0
Proceeds from issuance of long-term debt					695,000,000	$ 1,495,000,000
Retirement of debt		$ 500,000,000			500,000,000	550,000,000
Interest and debt expense			$ 53,000,000	$ 45,000,000	$ 154,000,000	$ 135,000,000
Notes due 2032 at 3.65%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)			3.65%		3.65%
Notes due 2052 at 4.10%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)			4.10%		4.10%
Senior unsecured notes
Debt Instrument [Line Items]
Principal amount	$ 700,000,000
Payments of debt issuance costs	3,000,000
Proceeds from issuance of long-term debt	695,000,000
Senior unsecured notes \| Notes due 2032 at 3.65%
Debt Instrument [Line Items]
Principal amount	$ 400,000,000
Long-term debt stated interest rate (in percentage)	3.65%
Senior unsecured notes \| Notes due 2052 at 4.10%
Debt Instrument [Line Items]
Principal amount	$ 300,000,000
Long-term debt stated interest rate (in percentage)	4.10%
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 - Schedule of Long-term Debt Outstanding (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 8,000	$ 7,800
Net unamortized discounts, premiums and issuance costs	(63)	(59)
Total debt, including net unamortized discounts, premiums and issuance costs	7,937	7,741
Current portion of long-term debt	(499)	(500)
Long-term debt	$ 7,438	7,241
Notes due 2022 at 1.85%
Debt Instrument [Line Items]
Long-term debt stated interest rate (in percentage)	1.85%
Total debt	$ 0	500
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 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 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	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	$ 0

Stockholders' equity - Schedule of Changes in Stockholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning			$ 13,333				$ 13,333
Net income	$ 2,295			$ 1,947			6,787	$ 5,631
Other comprehensive income (loss), net of taxes	26			10			3	47
Balance, ending	14,507						14,507
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	1,741	$ 1,741	1,741	1,741	$ 1,741	$ 1,741	1,741	1,741
Balance, ending	1,741	1,741	1,741	1,741	1,741	1,741	1,741	1,741
Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	2,783	2,667	2,630	2,485	2,391	2,333	2,630	2,333
Common stock issued for stock-based awards	26	31	(36)	27	25	(3)
Stock compensation	68	85	74	50	69	61
Other			(1)	1
Balance, ending	2,877	2,783	2,667	2,563	2,485	2,391	2,877	2,563
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	48,280	47,053	45,919	43,846	42,860	42,051	45,919	42,051
Net income	2,295	2,291	2,201	1,947	1,931	1,753
Dividends declared and paid	(1,051)	(1,060)	(1,063)	(942)	(942)	(940)
Dividend equivalents on RSUs	(5)	(4)	(5)	(3)	(4)	(4)
Other			1	(1)	1
Balance, ending	49,519	48,280	47,053	44,847	43,846	42,860	49,519	44,847
Treasury Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	(38,532)	(37,291)	(36,800)	(36,596)	(36,479)	(36,578)	(36,800)	(36,578)
Common stock issued for stock-based awards	52	25	93	48	29	199
Stock repurchases	(996)	(1,266)	(584)	(139)	(146)	(100)
Balance, ending	(39,476)	(38,532)	(37,291)	(36,687)	(36,596)	(36,479)	(39,476)	(36,687)
AOCI
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	(180)	(153)	(157)	(323)	(347)	(360)	(157)	(360)
Other comprehensive income (loss), net of taxes	26	(27)	4	10	24	13
Balance, ending	$ (154)	$ (180)	$ (153)	$ (313)	$ (323)	$ (347)	$ (154)	$ (313)

Stockholders' equity - Additional Information (Details) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 1.15	$ 1.15	$ 1.15	$ 1.02	$ 1.02	$ 1.02
Cash dividends paid per common share (in dollars per share)	$ 1.15	$ 1.15	$ 1.15	$ 1.02	$ 1.02	$ 1.02

Supplemental financial information - Amounts Reclassified out of AOCI (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Other income (expense), net (OI&E)

$ 33

$ 15

$ 55

$ 134

Provision for income taxes

(363)

(328)

(1,078)

(825)

Net income

2,295

1,947

6,787

5,631

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]

Provision for income taxes

(4)

(2)

(9)

(7)

Net income

Reclassification out of Accumulated Other Comprehensive Income | Prior service credit of defined benefit plans

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Other income (expense), net (OI&E)

^[1]

(1)

Provision for income taxes

Net income

$ (1)

[1]	Detailed in Note 5

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Supplemental financial information - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Asset Acquisition [Line Items]
Treasury shares issued related to stock compensation (in shares)	1	3
Lehi, Utah \| Other
Asset Acquisition [Line Items]
Restructuring charges/other	$ 77	$ 209