0001709048-23-000058 | 6-K | XBRL Viewer

NET REVENUE

9 Months Ended

Sep. 30, 2023

Revenue from Contracts with Customers [Abstract]

The following table presents the Company’s revenue disaggregated based on revenue source and timing of revenue recognition for the three and nine month periods ended September 30, 2023 and 2022. The Company believes these categories best depict the nature and timing of revenue:


(in millions)	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Type of goods and services:
Wafer fabrication	$	1,700	$	1,958	$	5,107	$	5,667
Engineering and other pre-fabrication services	152		116		431		340
	$	1,852	$	2,074	$	5,538	$	6,007

Timing of revenue recognition:
Revenue recognized over time	$	117	$	111	$	332	$	344
Revenue recognized at a point in time	1,735		1,963		5,206		5,663
	$	1,852	$	2,074	$	5,538	$	6,007

COMMITMENTS AND CONTINGENCIES - Unconditional Purchase Commitments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Other Provisions, Contingent Liabilities, and Contingent Assets [Abstract]
Contracts for capital expenditures	$ 1,572	$ 2,774
Contracts for operating expenditures	3,030	3,587
Contractual capital and operating commitments	4,602	6,361
Due within the next 12 months	$ 1,377	$ 2,732

PROPERTY PLANT AND EQUIPMENT - Summary of Property, Plant And Equipment (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	$ 10,596
Property, plant and equipment at end of period	10,594
Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at end of period	95
Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at end of period	3,737
Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at end of period	4,033
Computer
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at end of period	41
Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at end of period	2,688
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	34,381
Additions	970
Transfers from construction in progress	0
Disposals	(265)
Effect of exchange rate changes	(6)
Property, plant and equipment at end of period	35,080
Cost \| Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	122
Additions	16
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment at end of period	138
Cost \| Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	7,867
Additions	66
Transfers from construction in progress	594
Disposals	(25)
Effect of exchange rate changes	(2)
Property, plant and equipment at end of period	8,500
Cost \| Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	22,569
Additions	4
Transfers from construction in progress	957
Disposals	(225)
Effect of exchange rate changes	(4)
Property, plant and equipment at end of period	23,301
Cost \| Computer
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	439
Additions	3
Transfers from construction in progress	5
Disposals	(1)
Effect of exchange rate changes	0
Property, plant and equipment at end of period	446
Cost \| Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	3,384
Additions	881
Transfers from construction in progress	(1,556)
Disposals	(14)
Effect of exchange rate changes	0
Property, plant and equipment at end of period	2,695
Accumulated Depreciation and Impairment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(23,785)
Additions	(952)
Disposals	245
Effect of exchange rate changes	6
Property, plant and equipment at end of period	(24,486)
Accumulated Depreciation and Impairment \| Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(39)
Additions	(4)
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment at end of period	(43)
Accumulated Depreciation and Impairment \| Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(4,544)
Additions	(238)
Disposals	19
Effect of exchange rate changes	0
Property, plant and equipment at end of period	(4,763)
Accumulated Depreciation and Impairment \| Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(18,804)
Additions	(695)
Disposals	225
Effect of exchange rate changes	6
Property, plant and equipment at end of period	(19,268)
Accumulated Depreciation and Impairment \| Computer
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(391)
Additions	(15)
Disposals	1
Effect of exchange rate changes	0
Property, plant and equipment at end of period	(405)
Accumulated Depreciation and Impairment \| Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(7)
Additions	0
Disposals	0
Effect of exchange rate changes	0
Property, plant and equipment at end of period	$ (7)

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

Earnings per share [abstract]

Earnings Per Share

Earnings Per ShareBasic 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:


(in millions except per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net income attributable to equity shareholders of the Company	$	249	$	337	$	743	$	780

Weighted average shares outstanding
Basic	553		543		552		537
Diluted	556		553		556		551

Total basic and diluted EPS attributable to equity shareholders
Basic	$	0.45	$	0.62	$	1.35	$	1.45
Diluted	$	0.45	$	0.61	$	1.34	$	1.42

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Statement of Compliance — The accompanying interim condensed consolidated financial statements have been prepared by management of the Company in accordance with the rules and regulations of the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual consolidated financial statements prepared in accordance with IFRS as issued by the IASB and should be read in conjunction with the Company’s annual consolidated financial statements, included in GLOBALFOUNDRIES' Annual Report on Form 20-F for the year ended December 31, 2022. The interim condensed consolidated financial statements were authorized by the Audit, Risk and Compliance Committee of GLOBALFOUNDRIES’ Board of Directors on November 5, 2023, to be issued and subsequent events have been evaluated for their potential effect on the interim condensed consolidated financial statements through November 7, 2023. Significant Accounting Judgments, Estimates and Assumptions — The preparation of financial statements in accordance with International Accounting Standards (“IAS”) 34, Interim Financial Reporting, requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company’s accounting policies. In the opinion of management, all adjustments, consisting solely of normal recurring adjustments necessary for a fair presentation of the financial information for the periods indicated, have been included. The results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. Significant Accounting Policies — Except as set forth below, the accounting policies (including accounting judgements, estimates and assumptions) adopted in the preparation of the interim condensed consolidated 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, 2022. Property, Plant and Equipment — We periodically assess the estimated useful lives of property, plant and equipment. As a result of a review completed in April 2023, the Company concluded the estimated maximum useful life of certain buildings should be increased from 26 years to 50 years. This change in estimate was applied prospectively, effective beginning in the first quarter of 2023. The impact of the change in estimated useful lives of certain buildings resulted in an increase to net income before income taxes of $28 million and $51 million for the three and nine months ended September 30, 2023.

RESTRUCTURING (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
RESTRUCTURING (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2023
Restructuring [Roll Forward]
Beginning balance		$ 86
Provision	$ 17	41
Amounts paid		(107)
Ending balance	$ 20	$ 20

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ 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	$ 8,033	$ 7,975	$ 11	$ 23,487	$ (15,469)	$ (57)	$ 3	$ 58
Beginning balance (in shares) at Dec. 31, 2021			532,000
Proceeds from issuance of equity instruments (in shares)			13,000
Proceeds from issuance of equity instruments	142	142		142
Share-based compensation	137	137		137
Net income	778	780			780			(2)
Other comprehensive income	(9)	6				20	(14)	(15)
Ending balance (in shares) at Sep. 30, 2022			545,000
Ending balance at Sep. 30, 2022	9,081	9,040	$ 11	23,766	(14,689)	(38)	(11)	41
Beginning balance	9,081	9,040	11	23,766	(14,689)	(38)	(11)	41
Beginning balance	$ 9,960	9,913	$ 11	23,831	(14,021)	103	(11)	47
Beginning balance (in shares) at Dec. 31, 2022	547,755		548,000
Proceeds from issuance of equity instruments (in shares)			5,000
Proceeds from issuance of equity instruments	$ 49	49		49
Share-based compensation	120	120		120
Net income	740	743			743			(3)
Other comprehensive income	$ (38)	(38)				(37)	(1)
Ending balance (in shares) at Sep. 30, 2023	553,199		553,000
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

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

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+ Details

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2023
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 corporation, 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 the income tax benefit or income tax expense is primarily due to the effect of the tax rates and permanent differences in the other jurisdictions in which the Company operates. The effective tax rate for the nine months ended September 30, 2023 and 2022 was 5.7% and 9.1%, respectively. The decrease for the nine months ended September 30, 2023 compared to the prior year was primarily the result of a $25 million reclassification of withholding tax expense accrued in the United States from income tax expense given that withholding tax expense is not creditable against income taxes.

PROPERTY PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2023

Disclosure of detailed information about property, plant and equipment [abstract]

Property Plant and Equipment

Property, Plant and Equipment


(in millions)	Land and Land Improvements		Building and Leasehold Improvements		Equipment		Computer		Construction in Progress		Total
Cost











As of December 31, 2022	$	122	$	7,867	$	22,569	$	439	$	3,384	$	34,381
Additions	16		66		4		3		881		970
Transfers from construction in progress			594		957		5		(1,556)		—
Disposals	—		(25)		(225)		(1)		(14)		(265)
Effect of exchange rate changes	—		(2)		(4)		—		—		(6)
As of September 30, 2023	$	138	$	8,500	$	23,301	$	446	$	2,695	$	35,080
Net book value as of September 30, 2023	$	95	$	3,737	$	4,033	$	41	$	2,688	$	10,594



Accumulated Depreciation and Impairment










As of December 31, 2022	$	39	$	4,544	$	18,804	$	391	$	7	$	23,785
Additions	4		238		695		15		—		952
Disposals	—		(19)		(225)		(1)		—		(245)
Effect of exchange rate changes	—		—		(6)		—		—		(6)
As of September 30, 2023	$	43	$	4,763	$	19,268	$	405	$	7	$	24,486

For the three months ended September 30, 2023 and 2022, the depreciation expense of property, plant and equipment was $333 million and $358 million, respectively. For the nine months ended September 30, 2023 and 2022, the depreciation expense of property, plant and equipment was $952 million and $1 billion, respectively.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of financial position [abstract]
Par value per share (in dollars per share)	$ 0.02	$ 0.02
Number of shares issued (in shares)	553,199	547,755
Number of shares outstanding (in shares)	553,199	547,755

RELATED PARTY DISCLOSURES (Tables)

9 Months Ended

Sep. 30, 2023

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:


(in millions)	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Purchases from: *
SMP	$16	$15	$39	$42

Other transactions with:
SMP (reimbursement of expenses and contribution of tools)	$23	$16	$46	$37

* Purchases from SMP were primarily comprised of wafer.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Profit (loss) before tax	$ 243	$ 355	$ 785	$ 856
Building and Leasehold Improvements \| Change In Accounting Estimate
Disclosure of detailed information about property, plant and equipment [line items]
Profit (loss) before tax	$ 28		$ 51
Minimum \| Building and Leasehold Improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)			26 years
Maximum \| Building and Leasehold Improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)			50 years

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 740	$ 778
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	952	1,077
Amortization of intangible assets	97	137
Share-based compensation	120	137
Interest, income taxes paid and finance income (expense), net	0	4
Amortization of deferred income from government grants	(20)	(22)
Deferred income taxes, net	42	52
(Gain) Loss on disposal of property, plant and equipment and other	(7)	(81)
Change in assets and liabilities:
Receivables, prepayments, other assets and other noncurrent assets	(140)	37
Inventories	(170)	(221)
Trade and other payables	(173)	235
Net cash provided by operating activities	1,441	2,133
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment, net	(1,499)	(2,009)
Purchase of intangible assets	(77)	(59)
Proceeds from the sale of EFK business	238	0
Advances and proceeds from sale of property, plant and equipment and intangible assets	22	39
Purchases of investment in marketable securities	(1,121)	(1,046)
Proceeds from the sale of investment in marketable securities	651	108
Other investing activities	(1)	(40)
Net cash used in investing activities	(1,787)	(3,007)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from borrowings	46	612
Repayments of debt and finance lease obligations	(218)	(286)
Proceeds from issuance of equity instruments and other	47	156
Net cash (used in) provided by financing activities	(125)	482
Effect of exchange rate changes on cash and cash equivalents	(1)	(6)
Net decrease in cash and cash equivalents	(472)	(398)
Cash and cash equivalents at the beginning of the period	2,352	2,939
Cash and cash equivalents at the end of the period	1,880	2,541
Noncash investing and financing activities:
Amounts payable for property, plant and equipment	259	1,032
Property, plant and equipment acquired through lease	62	61
Amounts payable for intangible assets	$ 46	$ 99

INVENTORIES

9 Months Ended

Sep. 30, 2023

Inventories [Abstract]

Inventories

The Company records inventories at the lower of cost or net realizable value for finished goods, work-in-progress, raw materials, and supplies. The Company makes inventory write-downs on an item-by-item basis, except where it may be appropriate to group similar or related items.


(in millions)	September 30, 2023		December 31, 2022
Work in progress	$	976	$	1,025
Raw materials and supplies	533		314

Total	$	1,509	$	1,339

COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2023

Other Provisions, Contingent Liabilities, and Contingent Assets [Abstract]

Summary of commitments

Commitments – The Company’s unconditional purchase commitments are as follows:


(in millions)	September 30, 2023		December 31, 2022
Contracts for capital expenditures	$	1,572	$	2,774
Contracts for operating expenditures	3,030		3,587
	$	4,602	$	6,361
Due within the next 12 months	$	1,377	$	2,732

NET REVENUE - Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 1,852	$ 2,074	$ 5,538	$ 6,007
Revenue recognized over time
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	117	111	332	344
Revenue recognized at a point in time
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	1,735	1,963	5,206	5,663
Wafer fabrication
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	1,700	1,958	5,107	5,667
Engineering and other pre-fabrication services
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 152	$ 116	$ 431	$ 340

Cover	9 Months Ended
Cover	Sep. 30, 2023
Cover [Abstract]
Document Type	6-K
Entity Registrant Name	GLOBALFOUNDRIES Inc.
Document Period End Date	Sep. 30, 2023
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001709048
Amendment Flag	false

NET REVENUE (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contracts with Customers [Abstract]

Schedule of disaggregation of revenue


(in millions)	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Type of goods and services:
Wafer fabrication	$	1,700	$	1,958	$	5,107	$	5,667
Engineering and other pre-fabrication services	152		116		431		340
	$	1,852	$	2,074	$	5,538	$	6,007

Timing of revenue recognition:
Revenue recognized over time	$	117	$	111	$	332	$	344
Revenue recognized at a point in time	1,735		1,963		5,206		5,663
	$	1,852	$	2,074	$	5,538	$	6,007

PROPERTY PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
Depreciation expense	$ 333	$ 358	$ 952	$ 1,000

LONG TERM DEBT

9 Months Ended

Sep. 30, 2023

Borrowing costs Abstract [Abstract]

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, 2023		December 31, 2022
				(in millions)
2018 Tool Equipment Purchase and Lease Financing	USD	SOFR + 1.60%	2023	$	—	$	19
2019 Tool Equipment Purchase and Lease Financing	USD	SOFR+ 1.75%	2024	42		85
2019 USD Dresden Equipment Financing	USD	SOFR + 1.75%	2024	36		36
2020 USD Equipment Financing	USD	SOFR + 1.90%	2025	60		59
2019 EUR Dresden Equipment Financing	EUR	EURIBOR + 1.75%	2026	13		13
USD Term Loan A	USD	SOFR + 2.90%	2025	31		—
EUR Term Loan A	EUR	EURIBOR + 2.60%	2025	4		—
Various	EUR, USD	Various	2024-2026	13		11
Current total				$	199	$	223

2019 Tool Equipment Purchase and Lease Financing	USD	SOFR + 1.75%	2024	—		21
2019 USD Dresden Equipment Financing	USD	SOFR + 2.25%	2026	91		108
2020 USD Equipment Financing	USD	SOFR + 1.90%	2025	49		93
USD Term Loan A	USD	SOFR + 2.90%	2025	618		649
EUR Term Loan A	EUR	EURIBOR + 2.60%	2025	83		89
2019 EUR Dresden Equipment Financing	EUR	EURIBOR + 1.75%	2026	376		387
2021 SGD EDB Loan	SGD	1.40%	2041	950		923
Various	EUR, USD	Various	2024-2027	14		18
Noncurrent total				$	2,181	$	2,288
Total				$	2,380	$	2,511

The following table summarizes unutilized credit facilities available to the Company to maintain liquidity necessary to fund operations:


(in millions)	September 30, 2023		December 31, 2022

Revolving Credit Facility	$	1,011	$	1,012
SGD EDB Loan	—		42

Uncommitted Credit Facilities(1)	41		64



Total	$	1,052	$	1,118

(1) Subject to lender approval before draw-down or being usable.

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2023

Other Provisions, Contingent Liabilities, and Contingent Assets [Abstract]

Commitments and Contingencies

Commitments – The Company’s unconditional purchase commitments are as follows:


(in millions)	September 30, 2023		December 31, 2022
Contracts for capital expenditures	$	1,572	$	2,774
Contracts for operating expenditures	3,030		3,587
	$	4,602	$	6,361
Due within the next 12 months	$	1,377	$	2,732

In addition to the above, 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 $23 million as of September 30, 2023 and $20 million as of December 31, 2022 and has drawn down bank guarantees of $58 million and $4 million as of September 30, 2023 and December 31, 2022, 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 condensed consolidated statements of financial position or interim condensed consolidated statements of operations and comprehensive income (loss).

On April 28, 2021, International Business Machines (“IBM”) sent the Company a letter alleging that the Company did not fulfill the Company’s obligations under the contracts the Company entered into with IBM in 2014 associated with the Company’s acquisition of IBM’s Microelectronics business. IBM asserted that the Company engaged in fraudulent misrepresentations during the underlying negotiations, and claimed the Company owed them at least $2.5 billion 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 its fraud claim, and on April 7, 2022, the New York Appellate Division reversed the Court’s decision as to these two claims. Fact and expert discovery were complete as of September 30, 2023 and the case will proceed to trial. 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 (Tables)

9 Months Ended

Sep. 30, 2023

Fair value measurements of assets and liabilities [Abstract]

Disclosure of fair value measurement of assets and liabilities

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis:


(in millions)			Quoted Prices Identical Assets/ Liabilities		Significant Other Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
December 31, 2022
Assets:
Cash equivalents(1)	$	961	$	961	$	—	$	—

Investments in equity instruments(2)	$	15	$	—	$	—	$	15

Derivatives(3)	$	177	$	—	$	177	$	—

Investments in marketable securities(4)	$	994	$	994	$	—	$	—

Liabilities:
Derivatives(3)	$	66	$	—	$	66	$	—

September 30, 2023
Assets:
Cash equivalents(1)	$	1,368	$	1,368	$	—	$	—

Investments in equity instruments(2)	$	15	$	—	$	—	$	15

Derivatives(3)	$	101	$	—	$	101	$	—

Investments in marketable securities(4)	$	1,480	$	1,480	$	—	$	—

Liabilities:
Derivatives(3)	$	84	$	—	$	84	$	—

(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 hedge. Included in other current and non-current financial assets 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.

Disclosure of financial assets

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:


(in millions)	September 30, 2023				December 31, 2022
Financial Liabilities	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Other long-term debt	2,380		2,235		2,511		2,414
Total	$	2,380	$	2,235	$	2,511	$	2,414

PROPERTY PLANT AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2023

Disclosure of detailed information about property, plant and equipment [abstract]

Summary of property, plant and equipment


(in millions)	Land and Land Improvements		Building and Leasehold Improvements		Equipment		Computer		Construction in Progress		Total
Cost











As of December 31, 2022	$	122	$	7,867	$	22,569	$	439	$	3,384	$	34,381
Additions	16		66		4		3		881		970
Transfers from construction in progress			594		957		5		(1,556)		—
Disposals	—		(25)		(225)		(1)		(14)		(265)
Effect of exchange rate changes	—		(2)		(4)		—		—		(6)
As of September 30, 2023	$	138	$	8,500	$	23,301	$	446	$	2,695	$	35,080
Net book value as of September 30, 2023	$	95	$	3,737	$	4,033	$	41	$	2,688	$	10,594



Accumulated Depreciation and Impairment










As of December 31, 2022	$	39	$	4,544	$	18,804	$	391	$	7	$	23,785
Additions	4		238		695		15		—		952
Disposals	—		(19)		(225)		(1)		—		(245)
Effect of exchange rate changes	—		—		(6)		—		—		(6)
As of September 30, 2023	$	43	$	4,763	$	19,268	$	405	$	7	$	24,486

RESTRUCTURING (Tables)

9 Months Ended

Sep. 30, 2023

Restructuring [Abstract]

Disclosure of summary of restructuring

The changes to the restructuring provisions recorded on the consolidated statements of financial position as of September 30, 2023, are summarized as follows:


(in millions)	2023
Beginning balance as of December 31, 2022	$	86
Provision	41

Amounts paid	(107)

Ending balance as of September 30, 2023	$	20

RECEIVABLES, PREPAYMENTS AND OTHER ASSETS

9 Months Ended

Sep. 30, 2023

Trade and other current receivables [abstract]

Receivables, Prepayments and Other Assets


(in millions)	September 30, 2023		December 31, 2022
Current:
Trade receivables, other than related parties	$	1,021	$	824
Other receivables	265		497
Unbilled accounts receivable (1)	29		24
Receivables from government grants	51		52
Receivables from related parties	8		11
Other current financial assets	30		79
	$	1,404	$	1,487
Non-current:

Advances to suppliers	$	219	$	235

Other	24		46
Total	$	243	$	281

(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 as of September 30, 2023 and for the twelve months ended December 31, 2022, respectively:


(in millions)	September 30, 2023		December 31, 2022
Balance, beginning of period	$	24	$	43
Revenue recognized during the period	73		87
Amounts invoiced	(68)		(106)

Balance, end of period	$	29	$	24

CORPORATE INFORMATION	9 Months Ended
CORPORATE INFORMATION	Sep. 30, 2023
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, microcontroller, and power management units.

SHARE-BASED COMPENSATION (Details) - Employee Share Purchase Plan	9 Months Ended
	Sep. 30, 2023 shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Employee subscription rate (as a percent)	10.00%
Maximum subscription (in shares)	2,500
Employer match (as a percent)	20.00%

LONG TERM DEBT - Summary of Term Loan Facilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 199	$ 223
Noncurrent total	2,181	2,288
Total	2,380	2,511
2018 Tool Equipment Purchase and Lease Financing
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 0	19
2018 Tool Equipment Purchase and Lease Financing \| Minimum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.60%
2018 Tool Equipment Purchase and Lease Financing \| Maximum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.75%
2019 Tool Equipment Purchase and Lease Financing
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 42	85
Noncurrent total	$ 0	21
2019 Tool Equipment Purchase and Lease Financing \| Minimum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.75%
2019 USD Dresden Equipment Financing
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 36	36
Noncurrent total	$ 91	108
2019 USD Dresden Equipment Financing \| Minimum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.75%
2019 USD Dresden Equipment Financing \| Maximum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	2.25%
2020 USD Equipment Financing
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 60	59
Noncurrent total	$ 49	93
2020 USD Equipment Financing \| Minimum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.90%
2020 USD Equipment Financing \| Maximum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.90%
2019 EUR Dresden Equipment Financing
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 13	13
Noncurrent total	$ 376	387
2019 EUR Dresden Equipment Financing \| Minimum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.75%
2019 EUR Dresden Equipment Financing \| Maximum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.75%
USD Term Loan A
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 31	0
Noncurrent total	$ 618	649
USD Term Loan A \| Maximum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	2.90%
EUR Term Loan A
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 4	0
Noncurrent total	$ 83	89
EUR Term Loan A \| Maximum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	2.60%
Various Current
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 13	11
SGD EDB Loan
Disclosure of detailed information about borrowings [line items]
Noncurrent total	$ 950	923
SGD EDB Loan \| Maximum
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate	1.40%
Various Noncurrent
Disclosure of detailed information about borrowings [line items]
Noncurrent total	$ 14	$ 18

RECEIVABLES, PREPAYMENTS AND OTHER ASSETS - Summary of Receivables, Prepayments and Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Trade receivables, other than related parties	$ 1,021	$ 824
Other receivables	265	497
Unbilled accounts receivable	29	24	$ 43
Receivables from government grants	51	52
Receivables from related parties	8	11
Other current financial assets	30	79
Current prepayments and other current assets	1,404	1,487
Non-current:
Advances to suppliers	219	235
Other	24	46
Total	$ 243	$ 281

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Apr. 28, 2021
Disclosure of contingent liabilities [line items]
Loans and borrowings	$ 2,380	$ 2,511
Provisions			$ 2,500
PILOT Bonds, Letters Of Credit
Disclosure of contingent liabilities [line items]
Loans and borrowings	23	20
Bank guarantees	$ 58	$ 4

FAIR VALUE MEASUREMENTS - Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	$ 17,844	$ 17,841
Total financial liabilities	7,013	7,881
Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial liabilities	84	66
Cash equivalents
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	1,368	961
Investment in equity instruments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	15	15
Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	101	177
Investments in marketable securities
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	1,480	994
Level 1 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial liabilities	0	0
Level 1 \| Cash equivalents
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	1,368	961
Level 1 \| Investment in equity instruments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Level 1 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Level 1 \| Investments in marketable securities
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	1,480	994
Level 2 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial liabilities	84	66
Level 2 \| Cash equivalents
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Level 2 \| Investment in equity instruments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Level 2 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	101	177
Level 2 \| Investments in marketable securities
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Level 3 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial liabilities	0	0
Level 3 \| Cash equivalents
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Level 3 \| Investment in equity instruments
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	15	15
Level 3 \| Derivatives
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	0	0
Level 3 \| Investments in marketable securities
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Total financial assets	$ 0	$ 0

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,880	$ 2,352
Marketable securities	1,014	622
Receivables, prepayments and other assets	1,404	1,487
Inventories	1,509	1,339
Total current assets	5,807	5,800
Noncurrent assets:
Property, plant and equipment, net	10,594	10,596
Goodwill and intangible assets, net	381	363
Marketable securities	466	372
Other noncurrent financial assets	102	137
Deferred tax assets	251	292
Receivables, prepayments and other assets	243	281
Total noncurrent assets	12,037	12,041
Total assets	17,844	17,841
Current liabilities:
Trade payables and other current liabilities	2,321	2,849
Provisions	34	102
Current portion of deferred income from government grants	142	110
Current portion of lease obligations	52	75
Current portion of long-term debt	199	223
Total current liabilities	2,748	3,359
Noncurrent liabilities
Noncurrent portion of long-term debt	2,181	2,288
Noncurrent portion of deferred income from government grants	285	294
Provisions	199	196
Noncurrent portion of lease obligations	287	270
Other noncurrent liabilities	1,313	1,474
Total noncurrent liabilities	4,265	4,522
Total liabilities	7,013	7,881
Equity:
Ordinary shares, $0.02 par value, 553,199 thousand and 547,755 thousand shares issued and outstanding as of September 30, 2023 and December 31, 2022	11	11
Additional paid-in capital	24,000	23,831
Accumulated deficit	(13,278)	(14,021)
Accumulated other comprehensive income	54	92
Equity attributable to the shareholders of GLOBALFOUNDRIES INC.	10,787	9,913
Non-controlling interest	44	47
Total equity	10,831	9,960
Total liabilities and equity	$ 17,844	$ 17,841

INVENTORIES - Summary of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventories [Abstract]
Work in progress	$ 976	$ 1,025
Raw materials and supplies	533	314
Total	$ 1,509	$ 1,339

SHARE-BASED COMPENSATION	9 Months Ended
SHARE-BASED COMPENSATION	Sep. 30, 2023
Share-based payment arrangements [Abstract]
Share-Based Compensation	Share-Based CompensationWe 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.The Company offers an Employee Stock Purchase Plan which provides eligible employees with an opportunity to purchase our ordinary shares through payroll deductions of up to 10% of their eligible compensation. A participant may purchase a maximum of 2,500 ordinary shares during the purchase period. Amounts deducted and accumulated by the participant are used to purchase ordinary shares at the end of each six-month period, with the Company matching 20% of each employee's contributions on an after-tax basis.

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Attributable to:
Shareholders of GLOBALFOUNDRIES INC.	$ 249	$ 337	$ 743	$ 780
Non-controlling interest	0	(1)	(3)	(2)
Net income for the period	249	336	740	778
Items that may be reclassified subsequently to profit:
Share of foreign exchange fluctuation reserve of joint ventures	0	(8)	(1)	(19)
Effective portion of changes in the fair value of cash flow hedges	(24)	9	(37)	22
Fair value on investments measured at fair value through other comprehensive income	0	(7)	0	(10)
Income tax effect	0	0	0	(2)
Total other comprehensive loss for the period	(24)	(6)	(38)	(9)
Attributable to:
Shareholders of GLOBALFOUNDRIES INC.	(23)	3	(38)	6
Non-controlling interest	(1)	(9)	0	(15)
Total other comprehensive loss for the period	(24)	(6)	(38)	(9)
Attributable to:
Shareholders of GLOBALFOUNDRIES INC.	226	340	705	786
Non-controlling interest	(1)	(10)	(3)	(17)
Total comprehensive income for the period	$ 225	$ 330	$ 702	$ 769

FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2023

Fair value measurements of assets and liabilities [Abstract]

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; and

•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 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:


(in millions)			Quoted Prices Identical Assets/ Liabilities		Significant Other Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
December 31, 2022
Assets:
Cash equivalents(1)	$	961	$	961	$	—	$	—

Investments in equity instruments(2)	$	15	$	—	$	—	$	15

Derivatives(3)	$	177	$	—	$	177	$	—

Investments in marketable securities(4)	$	994	$	994	$	—	$	—

Liabilities:
Derivatives(3)	$	66	$	—	$	66	$	—

September 30, 2023
Assets:
Cash equivalents(1)	$	1,368	$	1,368	$	—	$	—

Investments in equity instruments(2)	$	15	$	—	$	—	$	15

Derivatives(3)	$	101	$	—	$	101	$	—

Investments in marketable securities(4)	$	1,480	$	1,480	$	—	$	—

Liabilities:
Derivatives(3)	$	84	$	—	$	84	$	—

(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.

(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, 2023 and 2022, 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 noncurrent 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:


(in millions)	September 30, 2023				December 31, 2022
Financial Liabilities	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Other long-term debt	2,380		2,235		2,511		2,414
Total	$	2,380	$	2,235	$	2,511	$	2,414

Estimated fair values of long-term debt are based on quoted prices for similar liabilities for which significant inputs are observable and represents 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.

FAIR VALUE MEASUREMENTS - Not Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Carrying Amount	$ 2,380	$ 2,511
Fair Value	2,235	2,414
Other long-term debt
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items]
Carrying Amount	2,380	2,511
Fair Value	$ 2,235	$ 2,414

- Definition

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

+ References + Details

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]
Statement of Compliance	Statement of Compliance — The accompanying interim condensed consolidated financial statements have been prepared by management of the Company in accordance with the rules and regulations of the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual consolidated financial statements prepared in accordance with IFRS as issued by the IASB and should be read in conjunction with the Company’s annual consolidated financial statements, included in GLOBALFOUNDRIES' Annual Report on Form 20-F for the year ended December 31, 2022.
Significant Accounting Judgements, Estimates, and Assumptions	Significant Accounting Judgments, Estimates and Assumptions — The preparation of financial statements in accordance with International Accounting Standards (“IAS”) 34, Interim Financial Reporting, requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company’s accounting policies. In the opinion of management, all adjustments, consisting solely of normal recurring adjustments necessary for a fair presentation of the financial information for the periods indicated, have been included. The results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023.
Significant Accounting Policies	Significant Accounting Policies — Except as set forth below, the accounting policies (including accounting judgements, estimates and assumptions) adopted in the preparation of the interim condensed consolidated 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, 2022.
Property, Plant, and Equipment	We periodically assess the estimated useful lives of property, plant and equipment. As a result of a review completed in April 2023, the Company concluded the estimated maximum useful life of certain buildings should be increased from 26 years to 50 years. This change in estimate was applied prospectively, effective beginning in the first quarter of 2023. The impact of the change in estimated useful lives of certain buildings resulted in an increase to net income before income taxes of $28 million and $51 million for the three and nine months ended September 30, 2023.
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.

LONG TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2023

Borrowing costs Abstract [Abstract]

Disclosure 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, 2023		December 31, 2022
				(in millions)
2018 Tool Equipment Purchase and Lease Financing	USD	SOFR + 1.60%	2023	$	—	$	19
2019 Tool Equipment Purchase and Lease Financing	USD	SOFR+ 1.75%	2024	42		85
2019 USD Dresden Equipment Financing	USD	SOFR + 1.75%	2024	36		36
2020 USD Equipment Financing	USD	SOFR + 1.90%	2025	60		59
2019 EUR Dresden Equipment Financing	EUR	EURIBOR + 1.75%	2026	13		13
USD Term Loan A	USD	SOFR + 2.90%	2025	31		—
EUR Term Loan A	EUR	EURIBOR + 2.60%	2025	4		—
Various	EUR, USD	Various	2024-2026	13		11
Current total				$	199	$	223

2019 Tool Equipment Purchase and Lease Financing	USD	SOFR + 1.75%	2024	—		21
2019 USD Dresden Equipment Financing	USD	SOFR + 2.25%	2026	91		108
2020 USD Equipment Financing	USD	SOFR + 1.90%	2025	49		93
USD Term Loan A	USD	SOFR + 2.90%	2025	618		649
EUR Term Loan A	EUR	EURIBOR + 2.60%	2025	83		89
2019 EUR Dresden Equipment Financing	EUR	EURIBOR + 1.75%	2026	376		387
2021 SGD EDB Loan	SGD	1.40%	2041	950		923
Various	EUR, USD	Various	2024-2027	14		18
Noncurrent total				$	2,181	$	2,288
Total				$	2,380	$	2,511

The following table summarizes unutilized credit facilities available to the Company to maintain liquidity necessary to fund operations:


(in millions)	September 30, 2023		December 31, 2022

Revolving Credit Facility	$	1,011	$	1,012
SGD EDB Loan	—		42

Uncommitted Credit Facilities(1)	41		64



Total	$	1,052	$	1,118

(1) Subject to lender approval before draw-down or being usable.

RELATED PARTY DISCLOSURES

9 Months Ended

Sep. 30, 2023

Related party [Abstract]

Related Party Disclosures

The total amounts of $8 million and $11 million due from related parties as of September 30, 2023 and December 31, 2022, respectively, have been included in receivables, prepayments and other assets (see Note 8). The $17 million and $10 million due to related parties as of September 30, 2023 and December 31, 2022, respectively, have been included in trade and other payables.

Related party balances disclosed in the interim condensed consolidated statements of financial position related to Silicon Manufacturing Partners Pte Ltd. ("SMP"). SMP is a joint venture with LSI Technology (Singapore) Pte. Ltd. The Company holds a 49.0% 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:


(in millions)	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Purchases from: *
SMP	$16	$15	$39	$42

Other transactions with:
SMP (reimbursement of expenses and contribution of tools)	$23	$16	$46	$37

* Purchases from SMP were primarily comprised of wafer.

RECEIVABLES, PREPAYMENTS AND OTHER ASSETS (Tables)

9 Months Ended

Sep. 30, 2023

Trade and other current receivables [abstract]

Schedule of accounts receivable


(in millions)	September 30, 2023		December 31, 2022
Current:
Trade receivables, other than related parties	$	1,021	$	824
Other receivables	265		497
Unbilled accounts receivable (1)	29		24
Receivables from government grants	51		52
Receivables from related parties	8		11
Other current financial assets	30		79
	$	1,404	$	1,487
Non-current:

Advances to suppliers	$	219	$	235

Other	24		46
Total	$	243	$	281

Schedule of unbilled accounts receivables

The following table summarizes the activity in the Company’s unbilled accounts receivable as of September 30, 2023 and for the twelve months ended December 31, 2022, respectively:


(in millions)	September 30, 2023		December 31, 2022
Balance, beginning of period	$	24	$	43
Revenue recognized during the period	73		87
Amounts invoiced	(68)		(106)

Balance, end of period	$	29	$	24

RELATED PARTY DISCLOSURES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Related party [Abstract]
Due from related parties	$ 8	$ 11
Due to related parties	$ 17	$ 10
Silicon Manufacturing Partners Pte Ltd. (“SMP”)
Disclosure of transactions between related parties [line items]
Voting rights (as a percent)	49.00%

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2023

Inventories [Abstract]

Schedule of inventories


(in millions)	September 30, 2023		December 31, 2022
Work in progress	$	976	$	1,025
Raw materials and supplies	533		314

Total	$	1,509	$	1,339

EARNINGS PER SHARE - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings per share [abstract]
Net income attributable to equity shareholders of the Company	$ 249	$ 337	$ 743	$ 780
Weighted average shares outstanding, basic (in shares)	553	543	552	537
Weighted average shares outstanding, diluted (in shares)	556	553	556	551
Total basic EPS attributable to equity shareholders (in USD per share)	$ 0.45	$ 0.62	$ 1.35	$ 1.45
Total diluted EPS attributable to equity shareholders (in USD per share)	$ 0.45	$ 0.61	$ 1.34	$ 1.42

LONG TERM DEBT - Summary of Unutilized Credit Facilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	$ 1,052	$ 1,118
Revolving Credit Facility
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	1,011	1,012
SGD EDB Loan
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	0	42
Uncommitted Credit Facilities
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	$ 41	$ 64

EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2023

Earnings per share [abstract]

Schedule of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share:


(in millions except per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net income attributable to equity shareholders of the Company	$	249	$	337	$	743	$	780

Weighted average shares outstanding
Basic	553		543		552		537
Diluted	556		553		556		551

Total basic and diluted EPS attributable to equity shareholders
Basic	$	0.45	$	0.62	$	1.35	$	1.45
Diluted	$	0.45	$	0.61	$	1.34	$	1.42

RELATED PARTY DISCLOSURES - Transactions with Related Parties (Details) - SMP - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disclosure of transactions between related parties [line items]
Purchases from	$ 16	$ 15	$ 39	$ 42
Other transactions with	$ 23	$ 16	$ 46	$ 37

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Profit or loss [abstract]
Net revenue	$ 1,852	$ 2,074	$ 5,538	$ 6,007
Cost of revenue	1,323	1,464	3,962	4,390
Gross profit	529	610	1,576	1,617
Research and development expense	108	124	323	372
Selling, general and administrative expense	143	129	386	366
Restructuring expense	17	0	41	0
Operating expense	268	253	750	738
Profit from operations	261	357	826	879
Finance income (expense) net	3	(11)	4	(58)
Share of profit of joint ventures	0	1	2	3
Other income (expense), net	(21)	8	(47)	32
Profit before income taxes	243	355	785	856
Income tax (expense) benefit	6	(19)	(45)	(78)
Net income for the period	249	336	740	778
Attributable to:
Shareholders of GLOBALFOUNDRIES INC.	249	337	743	780
Non-controlling interest	0	(1)	(3)	(2)
Net income for the period	$ 249	$ 336	$ 740	$ 778
Net earnings per share attributable to the equity holders of the Company:
Weighted average shares outstanding, basic (in shares)	553	543	552	537
Diluted weighted average common shares outstanding (in shares)	556	553	556	551
Basic earnings per share (in USD per share)	$ 0.45	$ 0.62	$ 1.35	$ 1.45
Diluted earnings per share (in USD per share)	$ 0.45	$ 0.61	$ 1.34	$ 1.42

RECEIVABLES, PREPAYMENTS AND OTHER ASSETS - Schedule of Unbilled Accounts Receivable (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Trade and other current receivables [abstract]
Balance, beginning of period	$ 24	$ 43
Revenue recognized during the period	73	87
Amounts invoiced	(68)	(106)
Balance, end of period	$ 29	$ 24

RESTRUCTURING

9 Months Ended

Sep. 30, 2023

Restructuring [Abstract]

Restructuring

In the fourth quarter 2022, the Company’s management approved and commenced a restructuring plan aimed to realign the Company’s business and strategic priorities. This worldwide restructuring plan included a reduction in the number of full-time employees, as well as a reduction in leased workspaces and engagement of consultants for strategic support.

The Company incurred $17 million and $41 million of restructuring costs during the three and nine months ended September 30, 2023, respectively. These costs are included in restructuring expenses in the Company’s consolidated statements of operations.

The changes to the restructuring provisions recorded on the consolidated statements of financial position as of September 30, 2023, are summarized as follows:


(in millions)	2023
Beginning balance as of December 31, 2022	$	86
Provision	41

Amounts paid	(107)

Ending balance as of September 30, 2023	$	20

INCOME TAXES (Details) - USD ($) $ in Millions	9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022
Income taxes [Abstract]
Statutory income tax rate	0.00%
Effective income tax rate	5.70%	9.10%
Withholding tax expense	$ 25