Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months

[Table of Contents](#i98d6063bdf2440eba45e838b461fbea1_7)  
Financial Instruments Not Recorded at Fair Value on a Recurring BasisFinancial instruments not recorded at fair value on a recurring basis include non-marketable equity securities and equity method investments that have not been remeasured or impaired in the current period, grants receivable, reverse repurchase agreements with original maturities greater than three months, and issued debt.We classify the fair value of grants receivable and reverse repurchase agreements with original maturities greater than three months as Level 2. The estimated fair value of these financial instruments approximates their carrying value. The aggregate carrying value of grants receivable as of October 1, 2022 was $569 million (the aggregate carrying value as of December 25, 2021 was $317 million). The aggregate carrying value of reverse repurchase agreements with original maturities greater than three months as of October 1, 2022 was $400 million (the aggregate carrying value as of December 25, 2021 was $0).We classify the fair value of issued debt (excluding any commercial paper, drafts payable, and finance leases) as Level 2. The fair value of our issued debt was $34.8 billion as of October 1, 2022 ($41.5 billion as of December 25, 2021). 

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| Note 10 :  | Other Comprehensive Income (Loss) |

The changes in accumulated other comprehensive income (loss) by component and related tax effects in the first nine months of 2022 were as follows:

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| (In Millions) |  |  |  |  |  | Unrealized Holding Gains (Losses) on Derivatives |  | Actuarial Valuation and Other Pension Expenses |  | Translation Adjustments and Other |  | Total |
| Balance as of December 25, 2021 |  |  |  |  |  | $ | 211  |  |  | $ | (1,114) |  |  | $ | 23  |  |  | $ | (880) |  |
| Other comprehensive income (loss) before reclassifications |  |  |  |  |  | (1,575) |  |  | —  |  |  | (38) |  |  | (1,613) |  |
| Amounts reclassified out of accumulated other comprehensive income (loss) |  |  |  |  |  | 205  |  |  | 34  |  |  |  |  | 239  |  |
| Tax effects |  |  |  |  |  | 192  |  |  | 3  |  |  | 8  |  |  | 203  |  |
| Other comprehensive income (loss) |  |  |  |  |  | (1,178) |  |  | 37  |  |  | (30) |  |  | (1,171) |  |
| Balance as of October 1, 2022 |  |  |  |  |  | $ | (967) |  |  | $ | (1,077) |  |  | $ | (7) |  |  | $ | (2,051) |  |

We estimate that we will reclassify approximately $623 million (before taxes) of net derivative losses included in accumulated other comprehensive income (loss) into earnings within the next 12 months. 

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| Note 11 :  | Derivative Financial Instruments |

Volume of Derivative ActivityTotal gross notional amounts for outstanding derivatives at the end of each period were as follows: 

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| (In Millions) |  | Oct 1, 2022 |  | Dec 25, 2021 |  |  |
| Foreign currency contracts |  | $ | 32,561  |  |  | $ | 38,024  |  |  |  |
| Interest rate contracts |  | 16,760  |  |  | 15,209  |  |  |  |
| Other |  | 2,055  |  |  | 2,517  |  |  |  |
| Total |  | $ | 51,376  |  |  | $ | 55,750  |  |  |  |

  
  
  
  
  
  
  


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| intc-20221001_g2.jpg | Financial Statements |  Notes to Financial Statements | 16 |


