Cash paid per acquiree share (in dollars per share)

[Table of Contents](#i98d6063bdf2440eba45e838b461fbea1_7)  
Equity Investments

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| (In Millions) |  | Oct 1, 2022 |  | Dec 25, 2021 |
| Marketable equity securities |  | $ | 1,185  |  |  | $ | 2,171  |  |
| Non-marketable equity securities  |  | 4,626  |  |  | 4,111  |  |
| Equity method investments |  | 11  |  |  | 16  |  |
| Total |  | $ | 5,822  |  |  | $ | 6,298  |  |

The components of gains (losses) on equity investments, net for each period were as follows:

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|   |  | Three Months Ended |  | Nine Months Ended |  |  |  |  |  |
| (In Millions) |  | Oct 1, 2022 |  | Sep 25, 2021 |  | Oct 1, 2022 |  | Sep 25, 2021 |  |  |  |  |  |  |  |  |
| Ongoing mark-to-market adjustments on marketable equity securities |  | $ | (244) |  |  | $ | (192) |  |  | $ | (883) |  |  | $ | (345) |  |  |  |  |  |  |  |  |  |
| Observable price adjustments on non-marketable equity securities |  | 67  |  |  | 79  |  |  | 273  |  |  | 702  |  |  |  |  |  |  |  |  |  |
| Impairment charges |  | (45) |  |  | (38) |  |  | (112) |  |  | (111) |  |  |  |  |  |  |  |  |  |
| Sale of equity investments and other¹ |  | 71  |  |  | 1,858  |  |  | 4,804  |  |  | 2,124  |  |  |  |  |  |  |  |  |  |
| Total gains (losses) on equity investments, net |  | $ | (151) |  |  | $ | 1,707  |  |  | $ | 4,082  |  |  | $ | 2,370  |  |  |  |  |  |  |  |  |  |

1 Sale of equity investments and other, includes realized gains (losses) on sales of non-marketable equity investments, our share of equity method investees' gains (losses) and distributions, and initial fair value adjustments recorded upon a security becoming marketable. Gains and losses for our marketable and non-marketable equity securities for each period were as follows:

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|  |  | Three Months Ended |  | Nine Months Ended |  |  |  |
| (In Millions) |  | Oct 1, 2022 |  | Sep 25, 2021 |  | Oct 1, 2022 |  | Sep 25, 2021 |  |  |  |  |  |
| Net gains (losses) recognized during the period on equity securities |  | $ | (154) |  |  | $ | 346  |  |  | $ | (490) |  |  | $ | 883  |  |  |  |  |  |  |
| Less: Net (gains) losses recognized during the period on equity securities sold during the period |  | 1  |  |  | (46) |  |  | 15  |  |  | (189) |  |  |  |  |  |  |
| Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date |  | $ | (153) |  |  | $ | 300  |  |  | $ | (475) |  |  | $ | 694  |  |  |  |  |  |  |

McAfee Corp.McAfee Corp. (McAfee) completed its initial public offering in October 2020. Due to our 41% ownership and significant influence as of December 25, 2021, we accounted for our investment in McAfee as an equity method investment. We had no accounting carrying value as of December 25, 2021.In the first nine months of 2022, the sale of McAfee to an investor group was completed and we received $4.6 billion in cash for the sale of our remaining share of McAfee, recognizing a $4.6 billion gain in Sale of equity investments and other.Beijing Unisoc Technology Ltd.We account for our interest in Beijing Unisoc Technology Ltd. (Unisoc) as a non-marketable equity security. In the first nine months of 2021, we recognized $471 million of observable price adjustments for our investment in Unisoc. As of October 1, 2022 the carrying value of the investment was $1.1 billion ($1.1 billion as of December 25, 2021).

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| Note 7 :  | Acquisitions and Divestitures |

AcquisitionsPending acquisition of Tower SemiconductorDuring the first quarter of 2022, we entered into a definitive agreement to acquire Tower Semiconductor Ltd. (Tower) in a cash for stock transaction expected to close within twelve months from the date of the agreement. Tower is a leading foundry for analog semiconductor solutions. The acquisition is expected to advance our IDM 2.0 strategy by accelerating our global end-to-end foundry business. Tower will be included in our IFS operating segment. Upon completion of the acquisition, each issued and outstanding ordinary share of Tower will be converted into the right to receive $53 per share in cash, representing a total enterprise value of approximately $5.4 billion as of the agreement date. This transaction is subject to certain regulatory approvals and customary closing conditions. If the agreement is terminated under certain circumstances involving the failure to obtain required regulatory approvals, we will be obligated to pay Tower a termination fee of $353 million.  
  
  
  
  
  
  


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| intc-20221001_g2.jpg | Financial Statements |  Notes to Financial Statements | 12 |


