GLOBALFOUNDRIES (GFS) 6-K5 Nov 24Current report (foreign)Financial data

Company Profile

Cover

Cover	9 Months Ended
Cover	Sep. 30, 2024
Cover [Abstract]
Document Type	6-K
Entity Registrant Name	GLOBALFOUNDRIES Inc.
Document Period End Date	Sep. 30, 2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001709048
Amendment Flag	false

INTERIM CONDENSED CONSOLIDATED

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 2,286	$ 2,387
Marketable securities	1,187	1,033
Receivables, prepayments and other assets	1,323	1,420
Inventories	1,802	1,487
Total current assets	6,598	6,327
Non-current assets:
Property, plant and equipment, net	8,950	9,829
Right of use assets	492	335
Goodwill and intangible assets, net	552	391
Marketable securities	860	468
Other non-current financial assets	138	110
Deferred tax assets	197	241
Receivables, prepayments and other assets	318	343
Total non-current assets	11,507	11,717
Total assets	18,105	18,044
Current liabilities:
Trade payables and other current liabilities	2,003	2,403
Current portion of deferred income from government grants	86	93
Current portion of lease obligations	93	32
Current portion of long-term debt	541	571
Total current liabilities	2,723	3,099
Non-current liabilities
Non-current portion of long-term debt	1,772	1,801
Non-current portion of deferred income from government grants	242	267
Provisions	207	186
Non-current portion of lease obligations	443	350
Other non-current liabilities	1,136	1,190
Total non-current liabilities	3,800	3,794
Total liabilities	6,523	6,893
Equity:
Ordinary shares, $0.02 par value, 552,654,594 and 553,548,190 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	11	11
Additional paid-in capital	23,971	24,027
Accumulated deficit	(12,536)	(13,001)
Accumulated other comprehensive income	87	67
Equity attributable to the shareholders of GlobalFoundries Inc.	11,533	11,104
Non-controlling interest	49	47
Total equity	11,582	11,151
Total liabilities and equity	$ 18,105	$ 18,044

INTERIM CONDENSED CONSOLIDATE_2

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of financial position [abstract]
Par value per share (in USD per share)	$ 0.02	$ 0.02
Number of shares issued (in shares)	552,654,594	553,548,190
Number of shares outstanding (in shares)	552,654,594	553,548,190

INTERIM CONDENSED CONSOLIDATE_3

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Profit or loss [abstract]
Net revenue	$ 1,739	$ 1,852	$ 4,920	$ 5,538
Cost of revenue	1,325	1,323	3,718	3,962
Gross profit	414	529	1,202	1,576
Research and development expense	130	108	375	323
Selling, general and administrative expense and other	98	143	334	386
Restructuring charges	1	17	6	41
Operating expense	229	268	715	750
Income from operations	185	261	487	826
Finance income (expense) net	15	3	41	4
Other income (expense), net	(5)	(21)	(11)	(45)
Income before income taxes	195	243	517	785
Income tax (expense) benefit	(17)	6	(50)	(45)
Net income	178	249	467	740
Attributable to:
Shareholders of GlobalFoundries Inc.	177	249	465	743
Non-controlling interest	1	0	2	(3)
Net income	$ 178	$ 249	$ 467	$ 740
Net earnings per share attributable to the equity holders of the Company:
Basic (in USD per share)	$ 0.32	$ 0.45	$ 0.84	$ 1.35
Diluted (in USD per share)	$ 0.32	$ 0.45	$ 0.83	$ 1.34
Weighted average common shares outstanding:
Basic (in shares)	552	553	554	552
Diluted (in shares)	555	556	557	556

INTERIM CONDENSED CONSOLIDATE_4

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Attributable to:
Shareholders of GlobalFoundries Inc.	$ 177	$ 249	$ 465	$ 743
Non-controlling interest	1	0	2	(3)
Net income	178	249	467	740
Items that may be reclassified subsequently to income:
Share of foreign exchange fluctuation reserve of joint ventures	5	0	1	(1)
Effective portion of changes in the fair value of cash flow hedges	28	(24)	8	(37)
Fair value on investments measured at fair value through other comprehensive income	15	0	11	0
Total other comprehensive income (loss)	48	(24)	20	(38)
Attributable to:
Shareholders of GlobalFoundries Inc.	47	(23)	20	(38)
Non-controlling interest	1	(1)	0	0
Total other comprehensive income (loss)	48	(24)	20	(38)
Attributable to:
Shareholders of GlobalFoundries Inc.	224	226	485	705
Non-controlling interest	2	(1)	2	(3)
Total comprehensive income	$ 226	$ 225	$ 487	$ 702

INTERIM CONDENSED CONSOLIDATE_5

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Total	Common Shares	Additional Paid-In Capital	Accumulated Deficit	Hedging Reserve	Foreign Currency Translation and Investments Reserves	Non-Controlling Interest
Beginning balance	$ 9,960	$ 9,913	$ 11	$ 23,831	$ (14,021)	$ 103	$ (11)	$ 47
Beginning balance (in shares) at Dec. 31, 2022			548,000,000
Proceeds from issuance of equity instruments (in shares)			5,000,000
Proceeds from issuance of equity instruments and other	49	49		49
Share-based compensation	120	120		120
Net income	740	743			743			(3)
Other comprehensive income (loss)	(38)	(38)				(37)	(1)
Ending balance (in shares) at Sep. 30, 2023			553,000,000
Ending balance at Sep. 30, 2023	10,831	10,787	$ 11	24,000	(13,278)	66	(12)	44
Beginning balance	10,831	10,787	11	24,000	(13,278)	66	(12)	44
Beginning balance	$ 11,151	11,104	$ 11	24,027	(13,001)	66	1	47
Beginning balance (in shares) at Dec. 31, 2023	553,548,190		554,000,000
Proceeds from issuance of equity instruments (in shares)			3,000,000
Proceeds from issuance of equity instruments and other	$ 1	1		1
Treasury shares (in shares)			(4,000,000)
Treasury shares	(200)	(200)		(200)
Share-based compensation	143	143		143
Net income	467	465			465			2
Other comprehensive income (loss)	$ 20	20				8	12
Ending balance (in shares) at Sep. 30, 2024	552,654,594		553,000,000
Ending balance at Sep. 30, 2024	$ 11,582	11,533	$ 11	23,971	(12,536)	74	13	49
Beginning balance	$ 11,582	$ 11,533	$ 11	$ 23,971	$ (12,536)	$ 74	$ 13	$ 49

INTERIM CONDENSED CONSOLIDATE_6

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
OPERATING ACTIVITIES
Net income	$ 467	$ 740
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,094	952
Amortization of intangible assets	96	97
Share-based compensation	143	120
Finance income	(152)	(105)
Finance expense	111	101
Deferred income taxes, net	66	42
Gain on disposal of property, plant and equipment and other	(63)	(27)
Change in assets and liabilities, net of acquisitions:
Receivables, prepayments, other assets and other non-current assets	83	(140)
Inventories	(316)	(170)
Current and non-current trade and other payables	(295)	(173)
Adjustments for increase (decrease) in changes in assets and liabilities	(528)	(483)
Interest received	126	86
Interest paid	(78)	(77)
Income taxes paid	(17)	(5)
Net cash provided by operating activities	1,265	1,441
INVESTING ACTIVITIES
Acquisitions, net of cash acquired	(69)	0
Purchases of property, plant and equipment, net	(391)	(1,499)
Purchase of intangible assets	(99)	(77)
Proceeds from sale of a business	0	238
Purchases of marketable securities	(1,527)	(1,121)
Proceeds from sale of marketable securities	54	7
Proceeds from maturities of marketable securities	963	644
Other investing activities	36	21
Net cash used in investing activities	(1,033)	(1,787)
FINANCING ACTIVITIES
Net proceeds from borrowings	29	46
Repayments of debt and lease obligations	(183)	(218)
Proceeds from issuance of equity instruments and other	21	47
Purchase of treasury stock	(200)	0
Net cash used in financing activities	(333)	(125)
Effect of exchange rate changes on cash and cash equivalents	0	(1)
Net decrease in cash and cash equivalents	(101)	(472)
Cash and cash equivalents at the beginning of the period	2,387	2,352
Cash and cash equivalents at the end of the period	$ 2,286	$ 1,880

Corporate Information

Corporate Information	9 Months Ended
Corporate Information	Sep. 30, 2024
Corporate information and statement of IFRS compliance [abstract]
Corporate Information	Corporate Information Company Operations GlobalFoundries Inc. (“GlobalFoundries”) is an exempted company with limited liability incorporated under the laws of the Cayman Islands. The address of GlobalFoundries’ registered office is P.O. Box 309, Ugland House, Grand Cayman, KY1-1104 Cayman Islands. GlobalFoundries and its subsidiaries (together referred to as the “Company”, “GlobalFoundries”, “GF”, “we”, or “us”) is one of the world’s leading semiconductor foundries and offers a full range of mainstream wafer fabrication services and technologies. The Company manufactures a broad range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers and power management units.

Basis of Presentation, Summary

Basis of Presentation, Summary of Material Accounting Policies and Critical Judgements, Estimates and Assumptions	9 Months Ended
	Sep. 30, 2024
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Basis of Presentation, Summary of Material Accounting Policies and Critical Judgements, Estimates and Assumptions	Basis of Presentation, Summary of Material Accounting Policies and Critical Judgements, Estimates and Assumptions Statement of Compliance — The interim condensed consolidated financial statements ('interim financial statements") have been prepared in accordance with International Accounting Standards ("IAS") 34 , Interim Financial Reporting ("IAS 34"), as issued by the International Accounting Standards Board ("IASB"). Certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the IASB, have been omitted or condensed. These interim financial statements should be read in conjunction with GlobalFoundries' Annual Report on Form 20-F for the year ended December 31, 2023. The interim financial statements have been prepared on a basis consistent with the accounting policies disclosed in the December 31, 2023 audited consolidated financial statements. The interim financial statements are unaudited and reflect adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to provide a fair statement of results for the interim periods in accordance with IAS 34 as issued by the IASB. The interim financial statements were authorized by the Audit, Risk and Compliance Committee of GlobalFoundries’ Board of Directors on November 4, 2024, to be issued and subsequent events have been evaluated for their potential effect on the interim financial statements through November 5, 2024. Summary of Material Accounting Policies and Critical Judgments, Estimates and Assumptions — The summary of material accounting policies and critical judgments, estimates and assumptions adopted in the preparation of the interim financial statements are consistent with those followed in the preparation of the Company's annual audited consolidated financial statements contained in our Annual Report on Form 20-F for the year ended December 31, 2023. Change in Presentation — Certain prior period balances in the interim financial statements and accompanying notes have been reclassified to conform to current period presentation. This change is not a change in accounting policy. Such reclassifications had no impact on net income, cash flows or shareholders' equity previously reported. New and Amended Accounting Pronouncements Adopted — On January 1, 2024, the Company adopted the following amendments, which did not have a material impact on the interim financial statements: Classification of Liabilities as Current or Non-current (Amendments to IAS 1 Presentation of Financial Statements ) — The amendments clarify that the classification of liabilities as current or non-current is based on rights that are in existence at the end of the reporting period, including compliance with loan covenants before or at the reporting date. The amendments also require disclosures for liabilities subject to future covenants that an entity must comply with after the reporting period, which help users to understand the risk that those liabilities could become repayable within twelve months after the reporting period. Lease Liability in a Sales and Leaseback (Amendments to IFRS 16 Leases ) — The amendments specify the requirements that the seller-lessee must meet when measuring these lease liability arising in a sale and leaseback transaction, to ensure that the seller-lessee does not recognize any amount of profit or loss that relates to the right of use that it retains. Supplier Finance Arrangements (Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures ) — The amendments clarify the characteristics of supplier financing arrangements and require additional disclosures of such arrangements, so as to understand the effects of financing arrangements on an entity’s liabilities, cash flows and liquidity risk exposure. The transition rules clarify that an entity is not required to provide disclosures in any interim periods in the year of initial application of the amendments. Recent Accounting Pronouncements Not Adopted: The Company has not adopted the following new, revised or amended IFRS standards that have been issued by the IASB that are not yet effective: Classification and Measurement of Financial Instruments (Amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures ) — The amendments clarify the requirements for the timing of recognition and derecognition of certain financial assets and liabilities, add further guidance for assessing whether a financial asset meets the solely payments of principal and interest criterion and add new disclosures for certain instruments with contractual terms that can change cash flows. The effective date for adoption of these amendments is annual periods beginning on or after January 1, 2026. IFRS 18 Presentation and Disclosure in Financial Statements ("IFRS 18") — This new standard will replace IAS 1 Presentation of Financial Statements. The key concepts in IFRS 18 relate to the structure of the statement of profit or loss, required disclosures in the financial statements for certain management-defined performance measures and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general. • IFRS 18 introduces new requirements for presentation within the statement of profit or loss, including specified totals and subtotals. Entities are required to classify all income and expenses within the statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations, whereof the first three are new. • IFRS 18 also requires disclosure of newly defined management-defined performance measures, subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of financial information based on the identified ‘roles’ of the primary financial statements and the notes to the financial statements. • In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash flows from operations under the indirect method, from ‘profit or loss’ to ‘operating profit or loss’ and removing the optionality around classification of cash flows from dividends and interest. In addition, there are consequential amendments to several other standards. The effective date for adoption of this standard is annual periods beginning on or after January 1, 2027, and earlier adoption is permitted. Retrospective application is required. Annual Improvements to IFRS Accounting Standards — Volume 11 — These narrow-scope amendments relate to clarifications, simplifications, corrections or changes to improve consistency in the following IFRS statements: IFRS 7 Financial Instruments: Disclosures , IFRS 9 Financial Instruments , IFRS 10 Consolidated Financial Instruments and IAS 7 Statement of Cash Flows . The effective date for adoption of these amendments is annual periods beginning on or after January 1, 2026.

Net Revenue

Net Revenue	9 Months Ended
Net Revenue	Sep. 30, 2024
Revenue from Contracts with Customers [Abstract]
Net Revenue	Net Revenue The following table presents the Company’s revenue disaggregated based on revenue source, timing of revenue recognition and end markets that we serve, for the three and nine month periods ended September 30, 2024 and 2023. The Company believes these categories best depict the nature and timing of revenue: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Type of goods and services: Wafer revenue (1)(2) $ 1,565 $ 1,646 $ 4,421 $ 4,903 Non wafer revenue (1)(2) 174 206 499 635 Total $ 1,739 $ 1,852 $ 4,920 $ 5,538 Timing of revenue recognition: Revenue recognized over time $ 127 $ 117 $ 384 $ 332 Revenue recognized at a point in time 1,612 1,735 4,536 5,206 Total $ 1,739 $ 1,852 $ 4,920 $ 5,538 End Markets: Smart Mobile Devices $ 868 $ 779 $ 2,310 $ 2,258 Communications Infrastructure & Datacenter 133 156 407 719 Home and Industrial IoT 308 408 912 1,198 Automotive 256 303 792 728 Non wafer revenue and other 174 206 499 635 Total $ 1,739 $ 1,852 $ 4,920 $ 5,538 (1) Beginning in 2024, access fees and other have been reclassified from wafer revenue to non wafer revenue. Prior period amounts have been recast to conform to the current presentation. (2) Beginning in the fourth quarter 2023, underutilization charges have been included in wafer revenue. Prior period amounts have been recast to conform to the current presentation.

Income taxes

Income taxes	9 Months Ended
Income taxes	Sep. 30, 2024
Income taxes [Abstract]
Income taxes	Income taxes For tax reporting purposes, the Company consolidates its entities under GlobalFoundries Inc., a Cayman Islands entity. As a Cayman Islands entity, the Company’s domestic statutory income tax rate is 0.0%. The difference between the Company’s domestic statutory income tax rate and its effective income tax rate reflected in income tax benefit or income tax expense is primarily due to the effect of tax rates and permanent differences in other jurisdictions in which the Company operates. The effective tax rate for the three months ended September 30, 2024 and 2023 was 8.7% and (2.5)%, respectively. The increase was primarily the result of a U.S. withholding tax reclassification from income tax in the third quarter 2023 and higher income tax expense related to the U.S. corporate alternative minimum tax. The effective tax rate for the nine months ended September 30, 2024 and 2023 was 9.7% and 5.7%, respectively. The increase was primarily the result of higher income tax expense related to the U.S. corporate alternative minimum tax.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2024
Earnings per share [abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share ("EPS") is based upon the weighted average number of common shares outstanding during the period. Diluted earnings per share is based upon the weighted average number of common shares outstanding during the period assuming the issuance of common shares for all potentially dilutive common shares outstanding. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net income attributable to equity shareholders of the Company $ 177 $ 249 $ 465 $ 743 Weighted average shares outstanding: Basic 552 553 554 552 Diluted 555 556 557 556 Total basic and diluted EPS attributable to equity shareholders: Basic $ 0.32 $ 0.45 $ 0.84 $ 1.35 Diluted $ 0.32 $ 0.45 $ 0.83 $ 1.34

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
Property, Plant and Equipment	Sep. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Property, Plant and Equipment	Property, Plant and Equipment Land and Land Improvements Building and Leasehold Improvements Equipment Computer Construction in Progress Total Cost As of December 31, 2023 $ 92 $ 7,635 $ 24,277 $ 448 $ 1,512 $ 33,964 Additions — 4 29 3 123 159 Transfers from construction in progress — 101 1,259 7 (1,367) — Disposals — — (175) — (4) (179) Effect of exchange rate changes — 1 6 — — 7 As of September 30, 2024 $ 92 $ 7,741 $ 25,396 $ 458 $ 264 $ 33,951 Net book value as of September 30, 2024 $ 63 $ 3,330 $ 5,265 $ 35 $ 257 $ 8,950 Accumulated Depreciation and Impairment As of December 31, 2023 $ 28 $ 4,205 $ 19,486 $ 409 $ 7 $ 24,135 Additions 1 206 817 14 — 1,038 Disposals — — (175) — — (175) Effect of exchange rate changes — — 3 — — 3 As of September 30, 2024 $ 29 $ 4,411 $ 20,131 $ 423 $ 7 $ 25,001 For the three months ended September 30, 2024 and 2023, depreciation expense of property, plant and equipment was $342 million and $319 million, respectively. For the nine months ended September 30, 2024 and 2023, depreciation expense of property, plant and equipment was $1,038 million and $907 million, respectively.

Restructuring

Restructuring	9 Months Ended
Restructuring	Sep. 30, 2024
Restructuring [Abstract]
Restructuring	Restructuring The Company incurred $1 million and $17 million of restructuring charges during the three months ended September 30, 2024 and 2023, respectively. The Company incurred $6 million and $41 million of restructuring charges during the nine months ended September 30, 2024 and 2023, respectively. These costs are included in restructuring expenses in the Company’s consolidated statements of operations and unpaid amounts are included in provisions within current liabilities on the consolidated statements of financial position. The changes to the restructuring provisions recorded on the consolidated statements of financial position as of September 30, 2024 are summarized as follows: 2024 Beginning balance as of December 31, 2023 $ 31 Provision 6 Amounts paid (31) Ending balance as of September 30, 2024 $ 6

Receivables, Prepayments and Ot

Receivables, Prepayments and Other Assets	9 Months Ended
Receivables, Prepayments and Other Assets	Sep. 30, 2024
Trade and other current receivables [abstract]
Receivables, Prepayments and Other Assets	Receivables, Prepayments and Other Assets September 30 2024 December 31 2023 Current: Trade receivables, other than related parties $ 706 $ 1,002 Other receivables 445 255 Unbilled accounts receivable (1) 46 33 Receivables from government grants 58 66 Receivables from related parties 11 12 Other current financial assets 57 52 Total $ 1,323 $ 1,420 Non-current: Advances to suppliers $ 189 $ 213 Receivables from government grants 98 106 Other 31 24 Total $ 318 $ 343 (1) Unbilled accounts receivable represents amounts recognized on revenue contracts less associated advances and progress billings. These amounts will be billed in accordance with the agreed-upon contractual terms or rendering services. The following table summarizes the activity in the Company’s unbilled accounts receivable for the nine months ended September 30, 2024 and for the twelve months ended December 31, 2023, respectively: September 30 2024 December 31 2023 Balance, beginning of period $ 33 $ 24 Revenue recognized during the period 89 101 Amounts invoiced (76) (92) Balance, end of period $ 46 $ 33

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2024
Inventories [Abstract]
Inventories	Inventories September 30 2024 December 31 2023 Work in progress $ 1,199 $ 1,005 Raw materials and supplies 747 625 Inventory reserves (144) (143) Total $ 1,802 $ 1,487 The following table presents the movement in the inventory reserves for the nine months ended September 30, 2024 and for the twelve months ended December 31, 2023, respectively: September 30 2024 December 31 2023 Beginning balance $ 143 $ 115 Additions 127 104 Written-off and scrapped (36) (31) Elimination of reserves upon sale of inventory (90) (45) Ending balance $ 144 $ 143

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Disclosure of Leases [Abstract]
Leases	Leases The Company has various lease agreements for certain of its offices, facilities and equipment, with a weighted average remaining lease term of 12.3 years and weighted average discount rate of 4.4% as of September 30, 2024. Leases may include one or more options to renew. Renewal terms are not included in the determination of the lease term unless the renewals are deemed to be reasonably certain at the time of lease commencement. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. All leases were measured under a single criterion with the exception of those with terms not exceeding 12 months and low-value leases. The following table outlines the carrying amounts of right-of-use assets: September 30 2024 December 31 2023 Land and improvements $ 64 $ 31 Building and leasehold improvements 428 304 Total $ 492 $ 335 The following table summarizes the depreciation of right-of-use assets: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Land and improvements $ 1 $ 2 $ 3 $ 4 Building and leasehold improvements 20 12 53 41 Total $ 21 $ 14 $ 56 $ 45 For the three months ended September 30, 2024 and 2023, the additions to right-of-use assets were $3 million and $8 million, respectively. For the nine months ended September 30, 2024 and 2023, the additions to right-of-use assets were $214 million and $62 million, respectively. For the three months ended September 30, 2024 and 2023, interest expense was $5 million and $5 million, respectively. For the nine months ended September 30, 2024 and 2023, interest expense was $20 million and $16 million, respectively. For the three months ended September 30, 2024 and 2023, cash outflow for leases was $18 million and $20 million, respectively. For the nine months ended September 30, 2024 and 2023, cash outflow for leases was $42 million and $57 million, respectively.

Long Term Debt

Long Term Debt	9 Months Ended
Long Term Debt	Sep. 30, 2024
Borrowing costs Abstract [Abstract]
Long Term Debt	Long Term Debt The following table outlines the terms and carrying amounts of the Company’s debt: Description Currency Nominal Interest Rate Year of Maturity September 30 2024 December 31 2023 (in millions) 2019 EUR Dresden Equipment Financing EUR EURIBOR + 1.75% 2026 373 368 USD Term Loan A USD SOFR + 2.90% 2025 63 64 Various EUR, USD Various 2024-2026 105 139 Current total $ 541 $ 571 USD Term Loan A USD SOFR + 2.90% 2025 554 586 2019 EUR Dresden Equipment Financing EUR EURIBOR + 1.75% 2026 23 30 2021 SGD EDB Loan SGD 1.40% 2041 1,030 987 Various EUR, USD Various 2024-2027 165 198 Non-current total $ 1,772 $ 1,801 Total $ 2,313 $ 2,372 The following table summarizes unutilized credit facilities available to the Company to maintain liquidity necessary to fund operations: September 30 2024 December 31 2023 Revolving Credit Facility $ 1,012 $ 1,012 Uncommitted Credit Facilities 106 46 Total $ 1,118 $ 1,058

Related Party Disclosures

Related Party Disclosures	9 Months Ended
Related Party Disclosures	Sep. 30, 2024
Related party [Abstract]
Related Party Disclosures	Related Party Disclosures The total amounts of $11 million and $12 million due from related parties as of September 30, 2024 and December 31, 2023, respectively, have been included in receivables, prepayments and other assets (see Note 8). The $11 million and $10 million due to related parties as of September 30, 2024 and December 31, 2023, respectively, have been included in trade and other payables. Related party balances disclosed in the interim financial statements relate to Mubadala Technology Investment Company and Silicon Manufacturing Partners Pte Ltd. ("SMP"). SMP is a joint venture with LSI Technology (Singapore) Pte. Ltd. The Company holds a 49% interest in SMP and manages all aspects of its manufacturing operations. The following table presents the related party transactions included in the interim condensed consolidated statements of operations: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Purchases from: * SMP $ 11 $ 16 $ 36 $ 39 Other transactions with: SMP (reimbursement of expenses and contribution of tools) $ 13 $ 23 $ 40 $ 46 Mubadala Technology (reimbursement of expenses) 2 — 6 — $ 15 $ 23 $ 46 $ 46 * Purchases from SMP were primarily comprised of wafers.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Other Provisions, Contingent Liabilities, and Contingent Assets [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments – The Company enters into several purchase agreements and supplementary agreements with its third-party manufacturers and suppliers for future deliveries of equipment and components. In addition, the Company enters into intellectual property and licensing agreements with third parties. The total future payments under these agreements amounted to $591 million and $1.1 billion, as of September 30, 2024 and December 31, 2023, respectively. Unconditional purchase commitments of $368 million are due within the next 12 months. Additionally, the Company obtained letters of credit to primarily guarantee payments for utility suppliers and foreign statutory payroll related charges. The Company has obtained letters of credit of $30 million and $23 million as of September 30, 2024 and December 31, 2023, respectively, and has drawn down bank guarantees of $4 million and $54 million as of September 30, 2024 and December 31, 2023, respectively. Contingencies – From time to time, the Company is a party to claims that arise in the normal course of business. These claims include allegations of infringement of intellectual property rights of others as well as other claims of liability. In addition, the Company, on a case by case basis, includes intellectual property indemnification provisions in the terms of sale and technology licenses with third parties. The Company is also subject to various taxes in the different jurisdictions in which it operates. These include property, goods and services, and other non-income taxes. The Company accrues costs associated with these matters when they become probable and reasonably estimable. The Company does not believe it is probable that losses associated with these matters beyond those already recognized will be incurred in amounts that would be material to the interim financial statements. On April 28, 2021, IBM sent the Company a letter alleging for the first time that it did not fulfill its obligations under the contracts entered into with IBM in 2014 and 2015 associated with the acquisition of IBM’s Microelectronics division. IBM asserted that the Company engaged in fraudulent misrepresentations during the underlying negotiations, and claimed the Company owed them $2.5 billion in damages and restitution. On June 7, 2021, the Company filed a complaint with the New York State Supreme Court (the “Court”) seeking a declaratory judgment that the Company did not breach the relevant contracts. IBM subsequently filed its complaint with the Court on June 8, 2021. On September 14, 2021, the Court granted the Company’s motion to dismiss IBM’s claims of fraud, unjust enrichment and breach of the implied covenant of good faith and fair dealing. IBM appealed the dismissal of its fraud claim, and on April 7, 2022, the New York Appellate Division reversed the Court’s decision. Discovery and dispositive motion practice have been completed and the trial is scheduled to commence on February 3, 2025. The Company believes, based on discussions with legal counsel, that it has meritorious defenses against IBM’s claims and intends to vigorously defend against them.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair value measurements of assets and liabilities [Abstract]
Fair Value Measurements	Fair Value Measurements The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices in active markets in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for similar assets or liabilities that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. • Level 3: Unobservable inputs for which little or no market data exists, therefore requiring management judgment to develop the Company’s own models with estimates and assumptions. Cash Equivalents – Cash equivalents include investments in government obligation-based money market funds, other money market instruments and interest-bearing deposits with initial or remaining terms of three months or less. The fair value of cash equivalents approximates its carrying value due to the short-term nature of these instruments. Marketable Securities – Marketable securities utilizing Level 1 and Level 2 inputs include U.S. Treasury Securities, U.S. Government Sponsored Enterprises, floating rate securities, money market mutual funds, corporate debt instruments and other Notes, bonds or debt securities issued by non-U.S. sovereign or multilateral entities, as these securities all have quoted prices in active markets. The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis: Quoted Prices Identical Assets/ Liabilities Significant Other Inputs Significant Unobservable Inputs Total (Level 1) (Level 2) (Level 3) December 31, 2023 Assets: Cash equivalents (1) $ 1,897 $ 1,626 $ 271 $ — Investments in equity instruments (2) $ 19 $ — $ — $ 19 Derivatives (3) $ 132 $ — $ 132 $ — Investments in marketable securities (4) $ 1,501 $ 1,189 $ 312 $ — Liabilities: Derivatives (3) $ 56 $ — $ 56 $ — September 30, 2024 Assets: Cash equivalents (1) $ 1,578 $ 1,578 $ — $ — Investments in equity instruments (2) $ 25 $ — $ — $ 25 Derivatives (3) $ 166 $ — $ 166 $ — Investments in marketable securities (4) $ 2,047 $ 577 $ 1,470 $ — Liabilities: Derivatives (3) $ 42 $ — $ 42 $ — (1) Included in cash and cash equivalents on the Company’s interim condensed consolidated statements of financial position. (2) Included in current and non-current receivables, prepayments and other assets on the Company’s interim condensed consolidated statements of financial position. (3) Consists of foreign currency forward contracts, interest rate swaps, cross currency swaps and commodity hedges. Included in other current and non-current financial assets and other current and non-current liabilities on the Company’s interim condensed consolidated statements of financial position. (4) Included in current and non-current marketable securities on the Company's interim condensed consolidated statements of financial position. During the nine months ended September 30, 2024 and the year ended December 31, 2023, there were no transfers between Level 1, Level 2 or Level 3 fair value measurements. Assets Measured and Recorded at Fair Value on a Non-Recurring Basis Certain assets and liabilities, such as equity method investments, intangible assets and property, plant and equipment, and other non-financial assets are recorded at fair value only if an impairment or observable price adjustment is recognized in the current period. Financial Instruments Not Recorded at Fair Value on a Recurring Basis Financial instruments not recorded at fair value on a recurring basis include grants receivable, loans receivable, lease obligations and the Company’s current and non-current portion of long-term debt. The carrying amounts and fair values of the Company’s financial instruments not recorded at fair value on a recurring basis are presented in the following table: September 30, 2024 December 31, 2023 Financial Liabilities Carrying Amount Fair Value Carrying Amount Fair Value Other long-term debt 2,313 2,256 2,372 2,319 Total $ 2,313 $ 2,256 $ 2,372 $ 2,319 Estimated fair values of long-term debt are based on quoted prices for similar liabilities for which significant inputs are observable and represent a Level 2 valuation. The fair values are estimated based on the type of debt and their maturities. The Company estimates the fair value using market interest rates of debts with similar maturities.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
Share-Based Compensation	Sep. 30, 2024
Share-based payment arrangements [Abstract]
Share-Based Compensation	Share-Based Compensation We measure and recognize compensation expense related to share-based transactions, including employee, consultant, and non-employee director share option awards, in our consolidated financial statements based on fair value. The fair value of each award is estimated on the date of grant using the Black-Scholes option pricing model for options, and the Monte Carlo simulation model for the performance share units and a share price at the grant date for the restricted share units. The Black-Scholes model and Monte Carlo model both require management to make certain assumptions of future expectations based on historical and current data. The assumptions include the expected term of the awards, expected volatility, dividend yield and risk-free interest rate. The expected term represents the amount of time that awards granted are expected to be outstanding, based on forecasted exercise behavior. The option pricing model requires the input of highly subjective assumptions, including the estimated fair value of the Company’s stock, expected term of the awards, expected volatility of the price of the Company’s shares, risk free interest rate and the expected dividend yield of ordinary shares. The assumptions used to determine the fair value of the option awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The Company estimates the expected forfeiture for options utilizing historical data, and only recognizes expense when a defined liquidity event (change in control or IPO) is deemed probable on the number of awards that are expected to vest. After applying a forfeiture estimate during each reporting period for when they are probable of vesting, the Company recognizes expense on a graded attribution basis for each tranche of the award over the period from the grant date to the later of the one-year anniversary of estimated time following a liquidity event or the legal vesting dates.

Equity

Equity	9 Months Ended
Equity	Sep. 30, 2024
Stockholders Equity Note [Abstract]
Equity	Equity On May 22, 2024, the Company announced a share repurchase of 3.9 million ordinary shares from Mubadala Technology Investment Company ("MTIC"), a majority shareholder, at the price of $50.75 per share, for an aggregate purchase amount of $200 million. We completed the share repurchase on May 28, 2024.

Basis of Presentation, Summar_2

Basis of Presentation, Summary of Material Accounting Policies and Critical Judgements, Estimates and Assumptions (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Statement of Compliance	Statement of Compliance — The interim condensed consolidated financial statements ('interim financial statements") have been prepared in accordance with International Accounting Standards ("IAS") 34 , Interim Financial Reporting ("IAS 34"), as issued by the International Accounting Standards Board ("IASB"). Certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the IASB, have been omitted or condensed. These interim financial statements should be read in conjunction with GlobalFoundries' Annual Report on Form 20-F for the year ended December 31, 2023. The interim financial statements have been prepared on a basis consistent with the accounting policies disclosed in the December 31, 2023 audited consolidated financial statements. The interim financial statements are unaudited and reflect adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to provide a fair statement of results for the interim periods in accordance with IAS 34 as issued by the IASB.
Summary of Material Accounting Policies and Critical Judgments, Estimates and Assumptions	Summary of Material Accounting Policies and Critical Judgments, Estimates and Assumptions — The summary of material accounting policies and critical judgments, estimates and assumptions adopted in the preparation of the interim financial statements are consistent with those followed in the preparation of the Company's annual audited consolidated financial statements contained in our Annual Report on Form 20-F for the year ended December 31, 2023.
New and Amended Accounting Pronouncement Adopted	New and Amended Accounting Pronouncements Adopted — On January 1, 2024, the Company adopted the following amendments, which did not have a material impact on the interim financial statements: Classification of Liabilities as Current or Non-current (Amendments to IAS 1 Presentation of Financial Statements ) — The amendments clarify that the classification of liabilities as current or non-current is based on rights that are in existence at the end of the reporting period, including compliance with loan covenants before or at the reporting date. The amendments also require disclosures for liabilities subject to future covenants that an entity must comply with after the reporting period, which help users to understand the risk that those liabilities could become repayable within twelve months after the reporting period. Lease Liability in a Sales and Leaseback (Amendments to IFRS 16 Leases ) — The amendments specify the requirements that the seller-lessee must meet when measuring these lease liability arising in a sale and leaseback transaction, to ensure that the seller-lessee does not recognize any amount of profit or loss that relates to the right of use that it retains. Supplier Finance Arrangements (Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures ) — The amendments clarify the characteristics of supplier financing arrangements and require additional disclosures of such arrangements, so as to understand the effects of financing arrangements on an entity’s liabilities, cash flows and liquidity risk exposure. The transition rules clarify that an entity is not required to provide disclosures in any interim periods in the year of initial application of the amendments. Recent Accounting Pronouncements Not Adopted: The Company has not adopted the following new, revised or amended IFRS standards that have been issued by the IASB that are not yet effective: Classification and Measurement of Financial Instruments (Amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures ) — The amendments clarify the requirements for the timing of recognition and derecognition of certain financial assets and liabilities, add further guidance for assessing whether a financial asset meets the solely payments of principal and interest criterion and add new disclosures for certain instruments with contractual terms that can change cash flows. The effective date for adoption of these amendments is annual periods beginning on or after January 1, 2026. IFRS 18 Presentation and Disclosure in Financial Statements ("IFRS 18") — This new standard will replace IAS 1 Presentation of Financial Statements. The key concepts in IFRS 18 relate to the structure of the statement of profit or loss, required disclosures in the financial statements for certain management-defined performance measures and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general. • IFRS 18 introduces new requirements for presentation within the statement of profit or loss, including specified totals and subtotals. Entities are required to classify all income and expenses within the statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations, whereof the first three are new. • IFRS 18 also requires disclosure of newly defined management-defined performance measures, subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of financial information based on the identified ‘roles’ of the primary financial statements and the notes to the financial statements. • In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash flows from operations under the indirect method, from ‘profit or loss’ to ‘operating profit or loss’ and removing the optionality around classification of cash flows from dividends and interest. In addition, there are consequential amendments to several other standards. The effective date for adoption of this standard is annual periods beginning on or after January 1, 2027, and earlier adoption is permitted. Retrospective application is required. Annual Improvements to IFRS Accounting Standards — Volume 11 — These narrow-scope amendments relate to clarifications, simplifications, corrections or changes to improve consistency in the following IFRS statements: IFRS 7 Financial Instruments: Disclosures , IFRS 9 Financial Instruments , IFRS 10 Consolidated Financial Instruments and IAS 7 Statement of Cash Flows . The effective date for adoption of these amendments is annual periods beginning on or after January 1, 2026.
Earnings Per Share	Basic earnings per share ("EPS") is based upon the weighted average number of common shares outstanding during the period. Diluted earnings per share is based upon the weighted average number of common shares outstanding during the period assuming the issuance of common shares for all potentially dilutive common shares outstanding.

Net Revenue (Tables)

Net Revenue (Tables)	9 Months Ended
Net Revenue (Tables)	Sep. 30, 2024
Revenue from Contracts with Customers [Abstract]
Schedule of Disaggregation of Revenue	The following table presents the Company’s revenue disaggregated based on revenue source, timing of revenue recognition and end markets that we serve, for the three and nine month periods ended September 30, 2024 and 2023. The Company believes these categories best depict the nature and timing of revenue: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Type of goods and services: Wafer revenue (1)(2) $ 1,565 $ 1,646 $ 4,421 $ 4,903 Non wafer revenue (1)(2) 174 206 499 635 Total $ 1,739 $ 1,852 $ 4,920 $ 5,538 Timing of revenue recognition: Revenue recognized over time $ 127 $ 117 $ 384 $ 332 Revenue recognized at a point in time 1,612 1,735 4,536 5,206 Total $ 1,739 $ 1,852 $ 4,920 $ 5,538 End Markets: Smart Mobile Devices $ 868 $ 779 $ 2,310 $ 2,258 Communications Infrastructure & Datacenter 133 156 407 719 Home and Industrial IoT 308 408 912 1,198 Automotive 256 303 792 728 Non wafer revenue and other 174 206 499 635 Total $ 1,739 $ 1,852 $ 4,920 $ 5,538 (1) Beginning in 2024, access fees and other have been reclassified from wafer revenue to non wafer revenue. Prior period amounts have been recast to conform to the current presentation. (2) Beginning in the fourth quarter 2023, underutilization charges have been included in wafer revenue. Prior period amounts have been recast to conform to the current presentation.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2024
Earnings per share [abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net income attributable to equity shareholders of the Company $ 177 $ 249 $ 465 $ 743 Weighted average shares outstanding: Basic 552 553 554 552 Diluted 555 556 557 556 Total basic and diluted EPS attributable to equity shareholders: Basic $ 0.32 $ 0.45 $ 0.84 $ 1.35 Diluted $ 0.32 $ 0.45 $ 0.83 $ 1.34

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
Property, Plant and Equipment (Tables)	Sep. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Schedule of Property, Plant and Equipment	Land and Land Improvements Building and Leasehold Improvements Equipment Computer Construction in Progress Total Cost As of December 31, 2023 $ 92 $ 7,635 $ 24,277 $ 448 $ 1,512 $ 33,964 Additions — 4 29 3 123 159 Transfers from construction in progress — 101 1,259 7 (1,367) — Disposals — — (175) — (4) (179) Effect of exchange rate changes — 1 6 — — 7 As of September 30, 2024 $ 92 $ 7,741 $ 25,396 $ 458 $ 264 $ 33,951 Net book value as of September 30, 2024 $ 63 $ 3,330 $ 5,265 $ 35 $ 257 $ 8,950 Accumulated Depreciation and Impairment As of December 31, 2023 $ 28 $ 4,205 $ 19,486 $ 409 $ 7 $ 24,135 Additions 1 206 817 14 — 1,038 Disposals — — (175) — — (175) Effect of exchange rate changes — — 3 — — 3 As of September 30, 2024 $ 29 $ 4,411 $ 20,131 $ 423 $ 7 $ 25,001

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
Restructuring (Tables)	Sep. 30, 2024
Restructuring [Abstract]
Schedule of Restructuring Provisions	The changes to the restructuring provisions recorded on the consolidated statements of financial position as of September 30, 2024 are summarized as follows: 2024 Beginning balance as of December 31, 2023 $ 31 Provision 6 Amounts paid (31) Ending balance as of September 30, 2024 $ 6

Receivables, Prepayments and _2

Receivables, Prepayments and Other Assets (Tables)	9 Months Ended
Receivables, Prepayments and Other Assets (Tables)	Sep. 30, 2024
Trade and other current receivables [abstract]
Schedule of Accounts Receivable	September 30 2024 December 31 2023 Current: Trade receivables, other than related parties $ 706 $ 1,002 Other receivables 445 255 Unbilled accounts receivable (1) 46 33 Receivables from government grants 58 66 Receivables from related parties 11 12 Other current financial assets 57 52 Total $ 1,323 $ 1,420 Non-current: Advances to suppliers $ 189 $ 213 Receivables from government grants 98 106 Other 31 24 Total $ 318 $ 343 (1)
Schedule of Unbilled Accounts Receivables	The following table summarizes the activity in the Company’s unbilled accounts receivable for the nine months ended September 30, 2024 and for the twelve months ended December 31, 2023, respectively: September 30 2024 December 31 2023 Balance, beginning of period $ 33 $ 24 Revenue recognized during the period 89 101 Amounts invoiced (76) (92) Balance, end of period $ 46 $ 33

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2024
Inventories [Abstract]
Schedule of Inventories	September 30 2024 December 31 2023 Work in progress $ 1,199 $ 1,005 Raw materials and supplies 747 625 Inventory reserves (144) (143) Total $ 1,802 $ 1,487 The following table presents the movement in the inventory reserves for the nine months ended September 30, 2024 and for the twelve months ended December 31, 2023, respectively: September 30 2024 December 31 2023 Beginning balance $ 143 $ 115 Additions 127 104 Written-off and scrapped (36) (31) Elimination of reserves upon sale of inventory (90) (45) Ending balance $ 144 $ 143

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Disclosure of Leases [Abstract]
Schedule of Leases Right-of-use Assets	The following table outlines the carrying amounts of right-of-use assets: September 30 2024 December 31 2023 Land and improvements $ 64 $ 31 Building and leasehold improvements 428 304 Total $ 492 $ 335 The following table summarizes the depreciation of right-of-use assets: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Land and improvements $ 1 $ 2 $ 3 $ 4 Building and leasehold improvements 20 12 53 41 Total $ 21 $ 14 $ 56 $ 45

Long Term Debt (Tables)

Long Term Debt (Tables)	9 Months Ended
Long Term Debt (Tables)	Sep. 30, 2024
Borrowing costs Abstract [Abstract]
Schedule of Detailed Information About Borrowings	The following table outlines the terms and carrying amounts of the Company’s debt: Description Currency Nominal Interest Rate Year of Maturity September 30 2024 December 31 2023 (in millions) 2019 EUR Dresden Equipment Financing EUR EURIBOR + 1.75% 2026 373 368 USD Term Loan A USD SOFR + 2.90% 2025 63 64 Various EUR, USD Various 2024-2026 105 139 Current total $ 541 $ 571 USD Term Loan A USD SOFR + 2.90% 2025 554 586 2019 EUR Dresden Equipment Financing EUR EURIBOR + 1.75% 2026 23 30 2021 SGD EDB Loan SGD 1.40% 2041 1,030 987 Various EUR, USD Various 2024-2027 165 198 Non-current total $ 1,772 $ 1,801 Total $ 2,313 $ 2,372 The following table summarizes unutilized credit facilities available to the Company to maintain liquidity necessary to fund operations: September 30 2024 December 31 2023 Revolving Credit Facility $ 1,012 $ 1,012 Uncommitted Credit Facilities 106 46 Total $ 1,118 $ 1,058

Related Party Disclosures (Tabl

Related Party Disclosures (Tables)	9 Months Ended
Related Party Disclosures (Tables)	Sep. 30, 2024
Related party [Abstract]
Schedule of Related Party Transactions	The following table presents the related party transactions included in the interim condensed consolidated statements of operations: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Purchases from: * SMP $ 11 $ 16 $ 36 $ 39 Other transactions with: SMP (reimbursement of expenses and contribution of tools) $ 13 $ 23 $ 40 $ 46 Mubadala Technology (reimbursement of expenses) 2 — 6 — $ 15 $ 23 $ 46 $ 46 * Purchases from SMP were primarily comprised of wafers.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair value measurements of assets and liabilities [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis: Quoted Prices Identical Assets/ Liabilities Significant Other Inputs Significant Unobservable Inputs Total (Level 1) (Level 2) (Level 3) December 31, 2023 Assets: Cash equivalents (1) $ 1,897 $ 1,626 $ 271 $ — Investments in equity instruments (2) $ 19 $ — $ — $ 19 Derivatives (3) $ 132 $ — $ 132 $ — Investments in marketable securities (4) $ 1,501 $ 1,189 $ 312 $ — Liabilities: Derivatives (3) $ 56 $ — $ 56 $ — September 30, 2024 Assets: Cash equivalents (1) $ 1,578 $ 1,578 $ — $ — Investments in equity instruments (2) $ 25 $ — $ — $ 25 Derivatives (3) $ 166 $ — $ 166 $ — Investments in marketable securities (4) $ 2,047 $ 577 $ 1,470 $ — Liabilities: Derivatives (3) $ 42 $ — $ 42 $ — (1) Included in cash and cash equivalents on the Company’s interim condensed consolidated statements of financial position. (2) Included in current and non-current receivables, prepayments and other assets on the Company’s interim condensed consolidated statements of financial position. (3) Consists of foreign currency forward contracts, interest rate swaps, cross currency swaps and commodity hedges. Included in other current and non-current financial assets and other current and non-current liabilities on the Company’s interim condensed consolidated statements of financial position. (4) Included in current and non-current marketable securities on the Company's interim condensed consolidated statements of financial position.
Schedule of Financial Instruments Not Recorded at Fair Value on a Recurring Basis	The carrying amounts and fair values of the Company’s financial instruments not recorded at fair value on a recurring basis are presented in the following table: September 30, 2024 December 31, 2023 Financial Liabilities Carrying Amount Fair Value Carrying Amount Fair Value Other long-term debt 2,313 2,256 2,372 2,319 Total $ 2,313 $ 2,256 $ 2,372 $ 2,319

Net Revenue (Details)

Net Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Net Revenue (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	$ 1,739	$ 1,852	$ 4,920	$ 5,538
Smart Mobile Devices
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	868	779	2,310	2,258
Communications Infrastructure & Datacenter
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	133	156	407	719
Home and Industrial IoT
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	308	408	912	1,198
Automotive
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	256	303	792	728
Non wafer revenue and other
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	174	206	499	635
Revenue recognized over time
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	127	117	384	332
Revenue recognized at a point in time
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	1,612	1,735	4,536	5,206
Wafer revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	1,565	1,646	4,421	4,903
Non wafer revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total	$ 174	$ 206	$ 499	$ 635

Income taxes (Details)

Income taxes (Details)	3 Months Ended		9 Months Ended
Income taxes (Details)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income taxes [Abstract]
Statutory income tax rate			0%
Effective income tax rate	8.70%	(2.50%)	9.70%	5.70%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings per share [abstract]
Net income attributable to equity shareholders of the Company	$ 177	$ 249	$ 465	$ 743
Basic (in shares)	552	553	554	552
Diluted (in shares)	555	556	557	556
Basic (in USD per share)	$ 0.32	$ 0.45	$ 0.84	$ 1.35
Diluted (in USD per share)	$ 0.32	$ 0.45	$ 0.83	$ 1.34

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	$ 9,829
Property, plant and equipment including right-of-use assets at end of period	8,950
Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at end of period	63
Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at end of period	3,330
Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at end of period	5,265
Computer
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at end of period	35
Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at end of period	257
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	33,964
Additions	159
Transfers from construction in progress	0
Disposals	(179)
Effect of exchange rate changes	7
Property, plant and equipment including right-of-use assets at end of period	33,951
Cost \| Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	92
Additions	0
Transfers from construction in progress	0
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment including right-of-use assets at end of period	92
Cost \| Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	7,635
Additions	4
Transfers from construction in progress	101
Disposals	0
Effect of exchange rate changes	1
Property, plant and equipment including right-of-use assets at end of period	7,741
Cost \| Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	24,277
Additions	29
Transfers from construction in progress	1,259
Disposals	(175)
Effect of exchange rate changes	6
Property, plant and equipment including right-of-use assets at end of period	25,396
Cost \| Computer
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	448
Additions	3
Transfers from construction in progress	7
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment including right-of-use assets at end of period	458
Cost \| Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	1,512
Additions	123
Transfers from construction in progress	(1,367)
Disposals	(4)
Effect of exchange rate changes	0
Property, plant and equipment including right-of-use assets at end of period	264
Accumulated Depreciation and Impairment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	(24,135)
Additions	(1,038)
Disposals	175
Effect of exchange rate changes	(3)
Property, plant and equipment including right-of-use assets at end of period	(25,001)
Accumulated Depreciation and Impairment \| Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	(28)
Additions	(1)
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment including right-of-use assets at end of period	(29)
Accumulated Depreciation and Impairment \| Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	(4,205)
Additions	(206)
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment including right-of-use assets at end of period	(4,411)
Accumulated Depreciation and Impairment \| Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	(19,486)
Additions	(817)
Disposals	175
Effect of exchange rate changes	(3)
Property, plant and equipment including right-of-use assets at end of period	(20,131)
Accumulated Depreciation and Impairment \| Computer
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	(409)
Additions	(14)
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment including right-of-use assets at end of period	(423)
Accumulated Depreciation and Impairment \| Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment including right-of-use assets at beginning of period	(7)
Additions	0
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment including right-of-use assets at end of period	$ (7)

Property, Plant and Equipment_2

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disclosure of detailed information about property, plant and equipment [abstract]
Depreciation expense	$ 342	$ 319	$ 1,038	$ 907

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Restructuring - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring [Abstract]
Restructuring charges	$ 1	$ 17	$ 6	$ 41

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Provisions (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Restructuring [Roll Forward]
Beginning balance	$ 31
Provision	6
Amounts paid	(31)
Ending balance	$ 6

Receivables, Prepayments and _3

Receivables, Prepayments and Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Trade receivables, other than related parties	$ 706,000	$ 1,002,000
Other receivables	445,000	255,000
Unbilled accounts receivable	46,000	33,000	$ 24,000
Receivables from government grants	58,000	66,000
Receivables from related parties	11,000	12,000
Other current financial assets	57,000	52,000
Total	1,323,000	1,420,000
Non-current:
Advances to suppliers	189,000	213,000
Receivables from government grants	98,000	106,000
Other	31,000	24,000
Total	$ 318,000	$ 343,000

Receivables, Prepayments and _4

Receivables, Prepayments and Other Assets - Schedule of Unbilled Accounts Receivable (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Trade and other current receivables [abstract]
Balance, beginning of period	$ 33,000	$ 24,000
Revenue recognized during the period	89,000	101,000
Amounts invoiced	76,000	92,000
Balance, end of period	$ 46,000	$ 33,000

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Inventories [Abstract]
Work in progress	$ 1,199	$ 1,005
Raw materials and supplies	747	625
Inventory reserves	(144)	(143)	$ (115)
Total	$ 1,802	$ 1,487

Inventories - Inventory Reserve

Inventories - Inventory Reserve Rollforward (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Inventories [Abstract]
Beginning balance	$ 144	$ 143
Additions	127	104
Written-off and scrapped	(36)	(31)
Elimination of reserves upon sale of inventory	(90)	(45)
Ending balance	$ 143	$ 115

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disclosure of Leases [Abstract]
Weighted average remaining lease term			12 years 3 months 18 days
Weighted average discount rate percent	4.40%		4.40%
Additions to right-of-use assets	$ 3	$ 8	$ 214	$ 62
Interest expense	5	5	20	16
Cash outflow for leases	$ 18	$ 20	$ 42	$ 57

Leases - Schedule of Leases Rig

Leases - Schedule of Leases Right-of-use Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disclosure of quantitative information about right-of-use assets [line items]
Right of use assets	$ 492		$ 492		$ 335
Depreciation of right-of-use assets	21	$ 14	56	$ 45
Land and improvements
Disclosure of quantitative information about right-of-use assets [line items]
Right of use assets	64		64		31
Depreciation of right-of-use assets	1	2	3	4
Building and leasehold improvements
Disclosure of quantitative information about right-of-use assets [line items]
Right of use assets	428		428		$ 304
Depreciation of right-of-use assets	$ 20	$ 12	$ 53	$ 41

Long Term Debt - Schedule of Te

Long Term Debt - Schedule of Term Loan Facilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about borrowings [line items]
Current total	$ 541	$ 571
Non-current total	1,772	1,801
Total	$ 2,313	2,372
2019 EUR Dresden Equipment Financing
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.75%
Current total	$ 373	368
Non-current total	$ 23	30
USD Term Loan A
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	2.90%
Current total	$ 63	64
Non-current total	554	586
Various
Disclosure of detailed information about borrowings [line items]
Current total	$ 105	139
2021 SGD EDB Loan
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.40%
Non-current total	$ 1,030	987
Various
Disclosure of detailed information about borrowings [line items]
Non-current total	$ 165	$ 198

Long Term Debt - Schedule of Un

Long Term Debt - Schedule of Unutilized Credit Facilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	$ 1,118	$ 1,058
Revolving Credit Facility
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	1,012	1,012
Uncommitted Credit Facilities
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	$ 106	$ 46

Related Party Disclosures - Nar

Related Party Disclosures - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Related party [Abstract]
Due from related parties	$ 11	$ 12
Due to related parties	$ 11	$ 10
Silicon Manufacturing Partners Pte Ltd. (“SMP”)
Disclosure of transactions between related parties [line items]
Voting rights (as a percent)	49%

Related Party Disclosures - Sch

Related Party Disclosures - Schedule of Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disclosure of transactions between related parties [line items]
Other purchases of goods, related party transactions	$ 15	$ 23	$ 46	$ 46
Joint ventures where entity is venturer
Disclosure of transactions between related parties [line items]
SMP	11	16	36	39
Other purchases of goods, related party transactions	13	23	40	46
Mubadala Technology
Disclosure of transactions between related parties [line items]
Other purchases of goods, related party transactions	$ 2	$ 0	$ 6	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Apr. 28, 2021
Disclosure of contingent liabilities [line items]
Contractual capital and operating commitments	$ 591	$ 1,100
Contractual capital and operating commitments, current	368
Loans and borrowings	2,313	2,372
Provisions			$ 2,500
PILOT Bonds, Letters Of Credit
Disclosure of contingent liabilities [line items]
Loans and borrowings	30	23
Bank guarantees	$ 4	$ 54

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	$ 18,105	$ 18,044
Total financial liabilities	6,523	6,893
Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial liabilities	42	56
Level 1 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial liabilities	0	0
Level 2 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial liabilities	42	56
Level 3 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial liabilities	0	0
Cash equivalents
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	1,578	1,897
Cash equivalents \| Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	1,578	1,626
Cash equivalents \| Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	271
Cash equivalents \| Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Investments in equity instruments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	25	19
Investments in equity instruments \| Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Investments in equity instruments \| Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Investments in equity instruments \| Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	25	19
Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	166	132
Derivatives \| Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Derivatives \| Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	166	132
Derivatives \| Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Investments in marketable securities
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	2,047	1,501
Investments in marketable securities \| Level 1
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	577	1,189
Investments in marketable securities \| Level 2
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	1,470	312
Investments in marketable securities \| Level 3
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	$ 0	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Financial Instruments Not Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Carrying Amount	$ 2,313	$ 2,372
Fair Value	2,256	2,319
Other long-term debt
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Carrying Amount	2,313	2,372
Fair Value	$ 2,256	$ 2,319

Share-Based Compensation (Detai

Share-Based Compensation (Details)	9 Months Ended
Share-Based Compensation (Details)	Sep. 30, 2024 shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Offering period	6 months
Employee Share Purchase Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Employee subscription rate (as a percent)	10%
Maximum subscription (in shares)	2,500
Employer match (as a percent)	20%

Equity (Details)

Equity (Details) $ in Millions	May 28, 2024 shares	May 22, 2024 USD ($) $ / shares shares
Stockholders Equity Note [Abstract]
Shares repurchased (in shares)		3,900,000
Repurchase price per share (in USD per share) \| $ / shares		50.75
Value of shares repurchased \| $		$ 200
Cancellation of ordinary shares (in shares)	3,900,000