Annual report pursuant to Section 13 and 15(d)

Business Combinations and Asset Acquisitions (Tables)

v3.23.3
Business Combinations and Asset Acquisitions (Tables)
 12 Months Ended
Sep. 24, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values was as follows (in millions):
Cash $ 30 
Current held for sale assets, net of costs to sell (1) 626 
Completed technology-based intangible assets 349 
In-process research and development (IPR&D) 298 
Goodwill 2,793 
Noncurrent held for sale assets (1) 1,186 
Other assets 326 
Total assets 5,608 
Current held for sale liabilities (1) (677)
Convertible senior notes (352)
Noncurrent held for sale liabilities (1) (128)
Other liabilities (200)
Total liabilities (1,357)
Net assets acquired $ 4,251 
(1) Held for sale assets and liabilities relate to the Non-Arriver businesses and were measured at fair value less costs to sell (including SSW Partners’ estimated return with respect to the sale proceeds of the Non-Arriver businesses), which was estimated using a market approach based on significant inputs that were not observable. The Non-Arriver businesses’ assets are not available to be used to settle our obligations, and the Non-Arriver businesses’ creditors do not have recourse to us. SSW Partners’ funding of the purchase price for Veoneer was recorded as a component of held for sale liabilities. The underlying classes of assets and liabilities held for sale have not been presented because such amounts are not material.