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CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,387	$ 2,352
Marketable securities	1,033	622
Receivables, prepayments and other assets	1,420	1,487
Inventories	1,487	1,339
Total current assets	6,327	5,800
Non-current assets:
Property, plant and equipment, net	10,164	10,596
Goodwill and intangible assets, net	391	363
Marketable securities	468	372
Deferred tax assets	241	292
Receivables, prepayments and other assets	343	281
Other non-current financial assets	110	137
Total non-current assets	11,717	12,041
Total Assets	18,044	17,841
Current liabilities:
Trade payables and other current liabilities	2,349	2,849
Current portion of long-term debt	571	223
Current portion of lease obligations	32	75
Provisions	54	102
Current portion of deferred income from government grants	93	110
Total current liabilities	3,099	3,359
Non-current liabilities:
Non-current portion of long-term debt	1,801	2,288
Other non-current liabilities	1,190	1,474
Non-current portion of lease obligations	350	270
Provisions	186	196
Non-current portion of deferred income from government grants	267	294
Total non-current liabilities	3,794	4,522
Total liabilities	6,893	7,881
Equity:
Ordinary shares, $0.02 par value, 553,548 thousand and 547,755 thousand shares issued and outstanding as of December 31, 2023 and 2022, respectively	11	11
Additional paid-in capital	24,027	23,831
Accumulated deficit	(13,001)	(14,021)
Accumulated other comprehensive loss	67	92
Equity attributable to the shareholders of GLOBALFOUNDRIES INC.	11,104	9,913
Non-controlling interests	47	47
Total equity	11,151	9,960
Total liabilities and equity	$ 18,044	$ 17,841

Cash And Cash Equivalents

12 Months Ended

Dec. 31, 2023

Statement of cash flows [abstract]

Cash And Cash Equivalents


(in millions)	December 31, 2023		December 31, 2022
Cash balances on hand and at banks	$	490	$	990


Other cash and cash equivalents	1,897		1,362
Total	$	2,387	$	2,352

Movements in cash and cash equivalents are presented in the Company’s consolidated statements of cash flows.

The following presents the reconciliation of assets, liabilities and equity arising from financing activities:


					Non-cash changes
(in millions)	As of December 31, 2021 Assets (Liabilities and Equity)		Cash Flows (Inflows)/ Outflows		Addition		Foreign exchange movement		Others		As of December 31, 2022 Assets (Liabilities and Equity)
Restricted cash	$	1	$	—	$	—	$	—	$	—	$	1
Government grants receivable(1)	47		(93)		18		(1)		81		$	52


Other receivables	(1)		—		—		—		—		$	(1)
Debt	(2,013)		(670)		(6)		10		168		$	(2,511)
Lease obligations	(426)		89		(18)		9		1		$	(345)

Share capital	(11)		—		—		—		—		$	(11)
Additional Paid-In Capital	(23,487)		(168)		—		—		(176)		$	(23,831)
Total	$	(25,890)	$	(842)	$	(6)	$	18	$	74	$	(26,646)


					Non-cash changes
(in millions)	As of December 31, 2022 Assets (Liabilities and Equity)		Cash Flows (Inflows)/ Outflows		Addition		Foreign exchange movement		Others		As of December 31, 2023 Assets (Liabilities and Equity)
Restricted cash	$	1	$	—	$	—	$	—	$	—	$	1
Government grants receivable(1)	52		(5)		23		1		101		$	172


Other receivables	(1)		—		—		1		—		$	—
Debt	(2,511)		182		(17)		(30)		4		$	(2,372)
Lease obligations	(345)		77		(117)		(5)		8		$	(382)
Share capital	(11)		—		—		—		—		$	(11)
Additional Paid-In Capital	(23,831)		(42)		—				(154)		$	(24,027)
Total	$	(26,646)	$	212	$	(111)	$	(33)	$	(41)	$	(26,619)

(1)Government grants receivable of $172 million and $52 million are included in receivables, prepayments and other assets in the consolidated statements of financial position as of December 31, 2023 and 2022, respectively.

Geographical concentration of cash and cash equivalents is as follows:


(in millions)	December 31, 2023		December 31, 2022
United States of America	$	481	$	484
Republic of Singapore	1,666		1,775
Other	240		93






Total	$	2,387	$	2,352

Financial Risk Management Objectives and Policies - Assets and Liabilities not Measured at a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets and liabilities [Line Items]
Carrying Amount	$ 2,372	$ 2,511
Fair Value	2,319	2,414
Other long-term debt
Disclosure of financial assets and liabilities [Line Items]
Carrying Amount	2,372	2,511
Fair Value	$ 2,319	$ 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

Cost of Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contracts with Customers [Abstract]

Schedule of cost of revenues


(in millions)	2023		2022		2021

Depreciation of property, plant and equipment and amortization of intangible assets (1)	$	1,321	$	1,468	$	1,422
Inventory changes materials costs and other	1,742		1,834		1,726
Staff costs, maintenance costs, and utilities(2)	2,228		2,567		2,424






Total	$	5,291	$	5,869	$	5,572

(1)Amounts are net of amortization of government grants relating to assets. See Note 8 for the detailed movements of property, plant and equipment.

(2)Staff costs, maintenance costs, and utilities costs include share-based compensation of $48 million, $64 million and $55 million for share options for the years ended December 31, 2023, 2022 and 2021, respectively.

Government Grants - Roll forward of Government Grants (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Government grants [Abstract]
Beginning balance	$ 404	$ 176
Received/receivable during the period	81	270
Fair value of EDB loan	7	0
Capitalized to fixed assets	(74)	0
Released to the consolidated statements of operations	(58)	(42)
Ending balance	360	404
Current	93	110
Non-current	267	294
Total	$ 360	$ 404

Financial Risk Management Objectives and Policies - Maturity of Financial Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Carrying Value
Loans and borrowings	$ 2,372	$ 2,511	$ 2,013
Lease obligations	382	345
Liquidity risk
Carrying Value
Loans and borrowings	2,372	2,511
Lease obligations	382	345
Derivative liabilities	56	66
Trade payables and other liabilities	1,438	2,265
Total	4,248	5,187
Contractual Cash Flows
Loans and borrowings	2,558	2,706
Lease obligations	521	427
Derivative liabilities	56	66
Trade payables and other liabilities	1,438	2,265
Total	4,573	5,464
Liquidity risk \| Within 1 year
Contractual Cash Flows
Loans and borrowings	575	229
Lease obligations	44	92
Derivative liabilities	42	61
Trade payables and other liabilities	1,354	2,171
Total	2,015	2,553
Liquidity risk \| 2-5 years
Contractual Cash Flows
Loans and borrowings	971	1,443
Lease obligations	194	184
Derivative liabilities	14	5
Trade payables and other liabilities	55	63
Total	1,234	1,695
Liquidity risk \| After 5 years
Contractual Cash Flows
Loans and borrowings	1,012	1,034
Lease obligations	283	151
Derivative liabilities	0	0
Trade payables and other liabilities	29	31
Total	$ 1,324	$ 1,216

Other Financial Assets And Liabilities

12 Months Ended

Dec. 31, 2023

Financial Instruments [Abstract]

Other Financial Assets And Liabilities

The following foreign currency forward contracts are outstanding at December 31, 2023 and 2022 (in millions, except average foreign currency/US$):


	Fair Value of Derivative Instruments
Derivative Instruments	Other Current Financial Assets		Other Non-current Financial Assets		Other Current Financial Liabilities		Other Non-current Financial Liabilities		Notional Amount		Average Foreign Currency/ US$	Average Strike Price	Maturity
Outstanding as of December 31, 2022:
Forward contracts:
Euro forward contracts (receive euros/pay US$)	$	46	$	3	$	(32)	$	—	$	1,203	0.94	—	2023 - 2024
Singapore dollar forward contracts (receive Singapore$/pay US$)	15		—		(1)		—		496		1.37	—	2023
Japanese yen forward contracts (receive Japanese yen/pay US$)	18		—		(20)		—		236		127.22	—	2023 - 2024
	79		3		(53)		—		1,935
Interest rate swaps	—		42		—		—		795		—	0.382% - 1.731%	2023 - 2026
Cross currency interest rate swaps (receive euros/pay US$)	—		2		—		(3)		535		0.89	3.834% - 4.182%	2024 - 2026
Cross currency swaps (receive Singapore $/pay US$)	—		51		—		—		796		1.37	1.830% - 1.941%	2028
Commodity swaps	—		—		(8)		(2)		47		—	512.56	2023
Total	$	79	$	98	$	(61)	$	(5)	$	4,108

Outstanding as of December 31, 2023:
Forward contracts:
Euro forward contracts (receive euros/pay US$)	$	14	$	—	$	(4)	$	—	$	845	0.91	—	2024 - 2025
Singapore dollar forward contracts (receive Singapore$/pay US$)	8		—		(1)		—		483		1.33	—	2024 - 2025
Japanese yen forward contracts (receive Japanese yen/pay US$)	6		1		(7)		—		116		140.20	—	2024 - 2025
	28		1		(12)		—		1,444
Interest rate swaps	17		5		—		—		653		—	0.442% - 1.761%	2024 - 2026
Cross currency interest rate swaps (receive euros/pay US$)	5		1		(3)		—		519		0.89	3.834% - 4.182%	2024 - 2026
Cross currency swaps (receive Singapore $/pay US$)	—		73		—		—		1,127		1.37	1.83% - 1.941%	2028
Commodity swaps	2		—		(27)		(14)		237		0.91	73.59	2024 - 2025
Total	$	52	$	80	$	(42)	$	(14)	$	3,980

The following table presents the fair values and locations of these derivative instruments recorded in the consolidated statements of financial position:


	Fair Value of Derivative Instruments
Derivative Instruments	Other Current Financial Assets		Other Non-current Financial Assets		Other Current Financial Liabilities		Other Non-current Financial Liabilities
Outstanding as of December 31, 2022:
Derivatives designated as hedging instruments
Foreign currency forwards	$	69	$	3	$	(52)	$	—
Interest rate swaps	—		42		—		—
Cross currency swaps and cross currency interest rate swaps	—		53		—		(3)
Commodity swaps	—		—		(8)		(2)
Derivatives not designated as hedging instruments
Foreign currency forwards	10		—		(1)		—
Total	$	79	$	98	$	(61)	$	(5)

Outstanding as of December 31, 2023:
Derivatives designated as hedging instruments
Foreign currency forwards	$	24	$	—	$	(9)	$	—
Interest rate swaps	17		5		—		—
Cross currency swaps and cross currency interest rate swaps	5		74		(3)		—
Commodity swaps	2		—		(22)		(11)
Derivatives not designated as hedging instruments
Foreign currency forwards	4		1		(3)		—
Commodity swaps	—		—		(5)		(3)
Total	$	52	$	80	$	(42)	$	(14)

The following table presents the effect of derivatives designated as hedging instruments on the consolidated statements of operations and comprehensive income (loss) (net of tax):

As of December 31, 2023 and 2022, the estimated amount of loss from cash flow hedges currently retained in consolidated statements of comprehensive income (loss) expected to be reclassified into the consolidated statements of operations within the next 12 months is approximately $15 million and $17 million, respectively.


(in millions)	Amount of Gains (Losses) Recognized in Accumulated OCI on Derivatives (effective Portion)		Amount of Gains (Losses) Reclassified from Accumulated OCI to cost of Property, Plant and Equipment		Location of Gains (Losses) Reclassified from Accumulated OCI into Income	Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Gain (Losses) Reclassified into Income (Missed Forecast)	Location of Gains (Losses) Recognized into Income (Ineffective Portion)	Amount of Gain (Losses) Recognized into Income (Ineffective Portion)
Year ended December 31, 2022
Derivatives designated as hedging instruments— Forward currency forward contracts	$	(105)	$	(93)	Cost of revenue and operating expenses	$	(76)	—	Other income (expense)	$	(5)
Derivatives designated as hedging instruments— Interest rate swaps	55		—		Finance expense	6		—	Other income (expense)	—
Derivatives designated as hedging instruments— Cross currency swaps and cross currency interest rate swaps	72		—		Cost of revenue and operating expenses	—		—	Other income (expense)	4
Derivatives designated as hedging instruments – Commodity swaps	(5)		—		Cost of revenue and operating expenses	26		—	Other income (expense)	(8)

Year ended December 31, 2023
Derivatives designated as hedging instruments— Forward currency forward contracts	$	17	$	(17)	Cost of revenue and operating expenses	$	34	—	Other income (expense)	—
Derivatives designated as hedging instruments— Interest rate swaps	8		—		Finance expense	28		—	Other income (expense)	—
Derivatives designated as hedging instruments— Cross currency swaps and cross currency interest rate swaps	31		—		Finance expense	6		—	Other income (expense)	(4)
					Other income (expense)	31		—
Derivatives designated as hedging instruments – Commodity swaps	(32)		—		Cost of revenue and operating expenses	(4)			Other income (expense)	—
					Other income (expense)	—		(13)

The following table presents the effect of derivatives not designated as hedging instruments on the consolidated statements of operations:


(in millions)	Location of Gains (Losses) Recognized in Income on Derivative	Amount of Gains (Losses) Recognized in Income on Derivative
Year ended December 31, 2021
Derivatives not designed as hedging instruments—foreign currency forwards contracts	Selling, general and administrative expenses	$	(17)

Year ended December 31, 2022
Derivatives not designed as hedging instruments—foreign currency forwards contracts	Other income (expense)	$	(22)

Total gain/(loss)		$	(22)

Year ended December 31, 2023
Derivatives not designed as hedging instruments—foreign currency forwards contracts	Other income (expense)	$	(16)
Derivatives not designed as hedging instruments—commodity swaps	Other income (expense)	(8)
Total gain/(loss)		$	(24)

Income Taxes - Classification of deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income taxes [Abstract]
Deferred tax assets	$ 241	$ 292
Deferred tax liabilities	(6)	(26)
Net deferred tax assets	$ 235	$ 266	$ 351

Finance Income and Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Schedule of finance income

Finance Income


(in millions)	2023		2022		2021
Interest income - deposits	$	92	$	31	$	1
Interest income on FVOCI investments	30		8		—
Accretion income	27		12		5

Total finance income	$	149	$	51	$	6

Schedule of finance expenses

Finance Expenses


(in millions)	2023		2022		2021
Interest on long-term debt	$	80	$	69	$	72
Interest on lease obligations	21		23		27
Commitment fees and amortization of debt issuance costs	13		13		12

Accretion costs and other	23		6		3
Total finance expenses	$	137	$	111	$	114

Provisions (Tables)

12 Months Ended

Dec. 31, 2023

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

Schedule of movement in provision for asset retirement obligation

The movement in provision for asset retirement obligations and restructuring expenses during the years ended December 31, 2023 and 2022 is as follows:


(in millions)	December 31, 2023		December 31, 2022
Beginning balance	$	298	$	349
Arising during the period	2		2
Accretion cost	5		(4)
Restructuring expenses	71		91
Utilized(1)	(136)		(52)
Released to the consolidated statements of operations(2)	$	—	(88)
Ending balance	$	240	$	298

(1) Includes $10 million and $40 million related to asset retirement obligations, $126 million and $5 million related to restructuring expense and $0 and $7 million related to sale of EFK business for the years ended December 31, 2023 and 2022, respectively.

(2) Relates to the derecognition of asset retirement obligation related to the sale of the EFK business.

Share-Based Compensation - Range of Exercise Prices, Options Outstanding, and Contractual Life (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
Disclosure of range of exercise prices of outstanding share options [line items]
Number Outstanding	1,640,039	6,260,603	21,749,558
$10.02
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price of outstanding share options (in dollars per share) \| $ / shares	$ 10.02
Number Outstanding	1,640,039
Weighted average remaining contractual life (in years)	2 years 8 months 1 day

Research and Development Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Schedule of research and development expenses


(in millions)	2023		2022		2021
Staff costs, maintenance costs, and utilities(1)	$	230	$	247	$	257

Depreciation of property, plant and equipment and amortization of intangible assets	119		110		147
Other (2)	79		125		74
Total	$	428	$	482	$	478

(1)Staff costs, maintenance costs, and utilities costs include share-based compensation of $25 million, $27 million and $22 million for share options for the years ended December 31, 2023, 2022 and 2021, respectively.

(2)Other primarily includes material costs and net (income) expenses related to research funding agreements and wafer, labor, software license costs allocated (to) and from cost of revenue.

Leases - Schedule of Lease Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of Leases [Abstract]
Beginning balance	$ 282	$ 305
Additions	117	59
Disposals	(7)	0
Amortization	(57)	(82)
Ending balance	$ 335	$ 282

Other Income (Expense), Net (Tables)

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Schedule of other (income) expense, net


(in millions)	2023		2022		2021
Loss on hedging activities	$	(78)	$	—	$	—

Other(1)	21		$	22	$	(8)
Total other income (expense), net	$	(57)	$	22	$	(8)

(1) Relates primarily to share of profits of joint ventures, and gains on the sales of property, plant and equipment and intangible assets.

Research and Development Expenses

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Research and Development Expenses


(in millions)	2023		2022		2021
Staff costs, maintenance costs, and utilities(1)	$	230	$	247	$	257

Depreciation of property, plant and equipment and amortization of intangible assets	119		110		147
Other (2)	79		125		74
Total	$	428	$	482	$	478

(2)Other primarily includes material costs and net (income) expenses related to research funding agreements and wafer, labor, software license costs allocated (to) and from cost of revenue.

Selling, General and Administrative Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Schedule of selling, general and administrative expenses


(in millions)	2023		2022		2021
Staff costs, maintenance costs, and utilities (1)	$	342	$	417	$	537
Depreciation of property, plant and equipment and amortization of intangible assets	25		45		49
Other (2)	106		34		9




Total	$	473	$	496	$	595

(1)Staff costs, maintenance costs, and utilities costs include share-based payments of $96 million, $92 million and $152 million for share options for the years ended December 31, 2023, 2022 and 2021, respectively. See Note 3 for further discussion on the timing of expense recognition.

(2)Other primarily includes net professional charges, marketing expenses and facility costs, (gain) loss on tool sales and certain contract cancellation fees. Real estate transfer taxes are also included in Other.

Other Income (Expense), Net

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Other Income (Expense), Net


(in millions)	2023		2022		2021
Loss on hedging activities	$	(78)	$	—	$	—

Other(1)	21		$	22	$	(8)
Total other income (expense), net	$	(57)	$	22	$	(8)

(1) Relates primarily to share of profits of joint ventures, and gains on the sales of property, plant and equipment and intangible assets.

Long-Term Debt - Summary of Term Loan Facilities (Details) $ in Millions, $ in Millions	Apr. 23, 2020 USD ($)	Jan. 21, 2019 USD ($) bank	Mar. 02, 2018 USD ($) bank	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 03, 2021 USD ($)	Sep. 03, 2021 SGD ($)	Oct. 31, 2019 USD ($)
Disclosure of detailed information about borrowings [line items]
Current portion of non-current borrowings				$ 571	$ 223
Non-current portion of non-current borrowings				1,801	2,288
Total				2,372	2,511	$ 2,013
Number of banks \| bank		5	4
Proceeds from sales of property, plant and equipment	$ 300	$ 425	$ 375
Lease obligations				$ 382	345
Equipment
Disclosure of detailed information about borrowings [line items]
Lease obligations			$ 375
2018 Tool Equipment Purchase and Lease Financing
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate				1.60%
Current portion of non-current borrowings				$ 0	19
2019 Tool Equipment Purchase and Lease Financing
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate				1.75%
Current portion of non-current borrowings				$ 21	85
Non-current portion of non-current borrowings				$ 0	21
USD Term Loan A
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate				2.90%
Current portion of non-current borrowings				$ 64	0
Non-current portion of non-current borrowings				$ 586	649
EUR Term Loan A
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate				2.60%
Current portion of non-current borrowings				$ 9	0
Non-current portion of non-current borrowings				$ 82	89
2019 USD Dresden Equipment Financing
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate				1.75%
Current portion of non-current borrowings				$ 36	36
Non-current portion of non-current borrowings				$ 72	108
2019 USD Dresden Equipment Financing Non-Current
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]
Nominal Interest Rate				1.90%
Current portion of non-current borrowings				$ 60	59
Non-current portion of non-current borrowings				$ 34	93
2019 EUR Dresden Equipment Financing
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate				1.75%
Current portion of non-current borrowings				$ 368	13
Non-current portion of non-current borrowings				$ 30	387
Maximum borrowing capacity									$ 750
2019 EUR Dresden Equipment Financing Noncurrent
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate				2.25%
2021 SGD EDB Loan
Disclosure of detailed information about borrowings [line items]
Nominal Interest Rate				1.40%			1.40%	1.40%
Non-current portion of non-current borrowings				$ 987	923
Maximum borrowing capacity							$ 1,149	$ 1,541
Various
Disclosure of detailed information about borrowings [line items]
Current portion of non-current borrowings				13	11
Non-current portion of non-current borrowings				$ 10	$ 18

Share-Based Compensation - Stock Option Activity (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares
Number of Share options
Beginning balance (in shares) \| shares	6,260,603	21,749,558
Exercised (in shares) \| shares	(4,468,985)	(14,956,321)
Forfeited (in shares) \| shares	(151,579)	(532,634)
Ending balance (in shares) \| shares	1,640,039	6,260,603
Exercisable (in shares) \| shares	1,485,670
Weighted average exercise price per Share
Beginning balance (in dollars per share) \| $ / shares	$ 10.02	$ 10.03
Exercised (in dollars per share) \| $ / shares	10.02	10.00
Forfeited (in dollars per share) \| $ / shares	10.00	10.00
Ending balance (in dollars per share) \| $ / shares	10.02	$ 10.02
Exercisable (in dollars per share) \| $ / shares	$ 10.03

Gain on Sale of a Business - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of analysis of single amount of discontinued operations [line items]
Gain on sale of East Fishkill (“EFK”) business		$ 0	$ 403	$ 0
Discontinued Operations - Tampines, Singapore Facility
Disclosure of analysis of single amount of discontinued operations [line items]
Consideration received			406	$ 170
Gain on sale of East Fishkill (“EFK”) business			403
Net liabilities			$ (9)
Discontinued Operations - Tampines, Singapore Facility \| Other disposals of assets
Disclosure of analysis of single amount of discontinued operations [line items]
Consideration received	$ 236

Finance Income and Expenses

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Finance Income and Expenses

Finance Income


(in millions)	2023		2022		2021
Interest income - deposits	$	92	$	31	$	1
Interest income on FVOCI investments	30		8		—
Accretion income	27		12		5

Total finance income	$	149	$	51	$	6

Finance Expenses


(in millions)	2023		2022		2021
Interest on long-term debt	$	80	$	69	$	72
Interest on lease obligations	21		23		27
Commitment fees and amortization of debt issuance costs	13		13		12

Accretion costs and other	23		6		3
Total finance expenses	$	137	$	111	$	114

Related Party Disclosures - Narrative (Details) - Loan from Shareholder - USD ($) $ in Millions		12 Months Ended
	Oct. 03, 2021	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Payments to related parties		$ (568)
Conversion of loan from shareholder	$ (10,100)	$ 10,113

Finance Income and Expenses- Finance Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Interest on long-term debt	$ 80	$ 69	$ 72
Interest on lease obligations	21	23	27
Commitment fees and amortization of debt issuance costs	13	13	12
Accretion costs and other	23	6	3
Total finance expenses	$ 137	$ 111	$ 114

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

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

Commitments and Contingencies

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


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

Contracts for capital expenditures	$	1,136	$	2,774
Contracts for operating expenditures	2,786		3,587
Total	$	3,922	$	6,361
Due within the next 12 months	$	970	$	2,732

In addition to the above, the Company obtained letters of credit to primarily guarantee payments for utility supplies and foreign statutory payroll related charges. The Company has obtained letters of credit of $23 million and $20 million at December 31, 2023 and 2022, respectively, and bank guarantees of $54 million and $4 million at December 31, 2023 and 2022, respectively.

The Company has a patent license agreement with LSI Technology Corporation (“LSI”) under which the parties grant to one another a license to use certain of each other’s patents. Under the terms of the patent license agreement, the Company may provide wafer capacity in lieu of payment for royalties. Such royalties under the patent license agreement are waived until such time the interest of LSI in SMP falls below 49%. In exchange, the Company has waived capacity shortfall obligations from LSI. Should the interest of LSI in SMP fall below 49%, the Company may be required to make royalty payments to LSI under this patent license agreement. The Company has not made any royalty payments to LSI. The patent license agreement continues for as long as the joint venture agreement between the parties remains.

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 parties are awaiting a trial date. 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.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Intangible Assets [Abstract]

Goodwill and Intangible Assets


Cost (in millions)	Technology, Licenses and Similar Rights		Software		Patents		Goodwill		Others		Total

As of December 31, 2021	$	1,202	$	284	$	229	$	18	$	132	$	1,865
Additions	62		96		—		—		5		163

Disposals	(47)		(12)		(3)		—		—		(62)
As of December 31, 2022	1,217		368		226		18		137		1,966
Additions	61		96		—		—		—		157
Disposals	(40)		—		—		—		—		(40)
As of December 31, 2023	$	1,238	$	464	$	226	$	18	$	137	$	2,083

Accumulated Amortization
As of December 31, 2021	$	867	$	278	$	212	$	—	$	131	$	1,488
Additions	150		10		16		—		—		176

Disposals	(46)		(12)		(3)		—		—		(61)
As of December 31, 2022	971		276		225		—		131		1,603
Additions	121		7		—		—		1		129
Disposals	(40)		—		—		—		—		(40)
As of December 31, 2023	$	1,052	$	283	$	225	$	—	$	132	$	1,692

Net book value as of December 31, 2022	$	246	$	92	$	1	$	18	$	6	$	363

Net book value as of December 31, 2023	$	186	$	181	$	1	$	18	$	5	$	391

Amortization expense on intangible assets is as follows:


(in millions)	2023		2022		2021
Cost of revenue	$	61	$	91	$	113
Research and development expenses	63		70		74
Selling, general and administrative expenses	5		15		20
Total	$	129	$	176	$	207

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 28, 2021
Disclosure of contingent liabilities [line items]
Loans and borrowings	$ 2,372	$ 2,511	$ 2,013
Bank guarantees	$ 54	4
Minimum interest on license agreement	49.00%
Provisions	$ 240	298	$ 349	$ 2,500
PILOT Bonds, Letters Of Credit
Disclosure of contingent liabilities [line items]
Loans and borrowings	$ 23	$ 20

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income taxes [Abstract]

Schedule of components of income tax benefit (expense)

Income tax expense consisted of the following:


(in millions)	December 31, 2023		December 31, 2022		December 31, 2021
Current income tax expense:
Current income tax benefit (expense)	$	(13)	$	(14)	$	2
Adjustments in respect of current income tax of previous year	(3)		(5)		(1)
Deferred tax
Net operating and investment allowance carryforwards	(74)		(44)		(78)
Currency effect on non-monetary assets of subsidiary	23		(12)		(37)
Other change in temporary differences	1		(11)		36
Income tax expense reported in the consolidated statements of operations	$	(66)	$	(86)	$	(78)

Reconciliation between tax benefit and accounting profit multiplied by the Company's tax rate

A reconciliation between tax expense and accounting profit multiplied by the Company’s statutory rate of 0.0% is as follows:


(in millions)	December 31, 2023			December 31, 2022			December 31, 2021
Income (Loss) before income taxes	$	1,084		$	1,532		$	(176)
Tax at Enacted Statutory Rate	$	—		$	—		$	—
Foreign tax rate differential	(65)			(98)			(75)
Adjustments in respect to current income tax of previous years	(1)			(5)			(1)
Government grants exempt from tax	7			7			5
Deductible expense for tax purpose	(2)			—			(1)
Impact of unrecognized deferred tax assets	(20)			57			9
Non-deductible expenses for tax purposes	—			(21)			(4)
Effects of foreign exchange gains (loss)	10			(14)			(22)
Impact of change in liability for uncertain tax positions	3			1			7
Withholding Tax	—			(11)			—
Other effects	2			(2)			4
Income tax (expense) benefit	$	(66)		$	(86)		$	(78)
Effective income tax rate	(6.1)		%	(5.6)		%	44.3		%

schedule of deferred tax assets and liabilities

Components of the Company’s deferred tax assets and liabilities are attributable as follows:


(in millions)	December 31, 2023		December 31, 2022
Accelerated depreciation on property, plant and equipment	$	(12)	$	(18)
Losses, credits and investment allowances available for offsetting against future taxable income	231		277
Accrued expenses	11		16
Inventory	3		1
Other comprehensive income (loss)	2		(8)
Currency effect	(1)		—

Other	1		(2)
Net deferred tax assets	$	235	$	266

The classification of the net deferred tax assets in the statements of financial position is as follows:


(in millions)	December 31, 2023		December 31, 2022
Deferred tax assets	$	241	$	292
Deferred tax liabilities(1)	(6)		(26)
Net deferred tax assets	$	235	$	266

(1) Included in Other non-current liabilities in the statements of financial position.

Schedule of deferred tax assets, net

A reconciliation of deferred taxes, net is as follows:


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

Beginning balance	$	266	$	351
Tax (expense) benefit recognized to consolidated statements of operations	(50)		(67)
Tax (expense) benefit recognized to other comprehensive income (loss)	19		(18)


Ending balance	$	235	$	266

Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share [abstract]
Net income (loss) attributable to equity shareholders of the Company	$ (1,020)	$ (1,448)	$ 250
Basic weighted average ordinary shares outstanding (in shares)	552	539	506
Weighted average common shares outstanding (in shares)	556	552	506
Total basic and diluted earnings per share attributable to equity shareholders (in USD per share)	$ 1.85	$ 2.69	$ (0.49)
Total basic and diluted earnings per share attributable to equity shareholders (in USD per share)	$ 1.83	$ 2.62	$ (0.49)
Number of instruments that are antidilutive in period presented (in shares)	1	6	22

Cash And Cash Equivalents - Schedule of Cash and Cash equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of cash flows [abstract]
Cash balances on hand and at banks	$ 490	$ 990
Other cash and cash equivalents	1,897	1,362
Total	$ 2,387	$ 2,352	$ 2,939	$ 908

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 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)	553,548	547,755
Number of shares outstanding (in shares)	553,548	547,755

Related Party Disclosures - Balances in the Consolidated Statement of Financial Position (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of transactions between related parties [line items]
Due from Related Parties	$ 12	$ 11
Due to Related Parties	10	10
SMP
Disclosure of transactions between related parties [line items]
Due from Related Parties	12	11
Due to Related Parties	$ 10	$ 10

Issued Capital and Reserves (Details) - $ / shares	Sep. 12, 2021	Dec. 31, 2023	Dec. 31, 2022	Oct. 27, 2021
Disclosure of classes of share capital [line items]
Stock split (in shares)	0.5
Number of shares issued (in shares)		553,548,000	547,755,000
Par value per share (in dollars per share)		$ 0.02	$ 0.02
Number of shares outstanding (in shares)		553,548,000	547,755,000
Ordinary shares
Disclosure of classes of share capital [line items]
Number of shares issued (in shares)		554,000,000		30,250,000
Number of shares authorised (in shares)		1,300,000,000
Par value per share (in dollars per share)		$ 0.02
Number of shares outstanding (in shares)		554,000,000
Ordinary Shares In Private Placement
Disclosure of classes of share capital [line items]
Number of shares issued (in shares)				1,595,744
Preference shares
Disclosure of classes of share capital [line items]
Number of shares authorised (in shares)		200,000,000
Par value per share (in dollars per share)		$ 0.02

Related Party Disclosures - Compensation to Key Management Personnel (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Amount incurred by entity for provision of key management personnel services provided by separate management entity	$ 33	$ 29	$ 53
Chief Executive Officer, Chief Financial Officer, Chief Business Officer, Chief Operating Officer, Short-term benefits
Disclosure of transactions between related parties [line items]
Amount incurred by entity for provision of key management personnel services provided by separate management entity	9	5	8
Chief Executive Officer, Chief Financial Officer, Chief Business Officer, Chief Operating Officer, Share-based payments
Disclosure of transactions between related parties [line items]
Amount incurred by entity for provision of key management personnel services provided by separate management entity	21	19	42
Board of Directors
Disclosure of transactions between related parties [line items]
Amount incurred by entity for provision of key management personnel services provided by separate management entity	$ 3	$ 5	$ 3

Long-Term Debt - Summary of Unutilized Credit Facilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	$ 1,058	$ 1,118
2021 SGD EDB Loan
Disclosure of detailed information about borrowings [line items]
Unutilized borrowing facilities	0	42
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	$ 46	$ 64

Operating Segments Information

12 Months Ended

Dec. 31, 2023

Operating Segments [Abstract]

Operating Segments Information

(a)Operating segments, segment revenue, operating results

The Company’s chief operating decision-maker is the Company’s Chief Executive Officer who makes resource allocation decisions and assesses performance based on financial information presented on a consolidated basis. There are no segment managers who are held accountable by the chief operating decision-maker, or anyone else, for operations, operating results, and planning for levels or components below the consolidated unit level. Accordingly, the Company has determined that the Company has a single reportable segment and operating segment structure.

(b)Revenue based on customers’ headquarters and non-current assets by geography were as follows:


	For the year ended December 31,
Revenue by Geography	2023		2022		2021
(in millions)
United States	$	4,262	$	4,898	$	3,975
Europe, the Middle East, and Africa	1,533		1,182		805



Other	1,597		2,028		1,805
Total	$	7,392	$	8,108	$	6,585


Non-current Assets by Geography	2023		2022
(in millions)
United States	$	4,738	$	5,149
Germany	2,400		2,462
Singapore	3,801		3,508
Other	457		532
Total	$	11,396	$	11,651

Non-current assets include property, plant, equipment, right-of-use assets, intangible assets, investments in joint venture and associates, restricted cash (non-current) and receivables, prepayments and other assets (non-current).

Trade Payables and Other Liabilities - Reconciliation of Contract Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Beginning contract liabilities balance	$ 1,918	$ 1,901
Cash receipts in advance of satisfaction of performance obligations	805	1,189
Released to the consolidated statements of operations	(759)	(951)
Amounts credited to customers	0	(221)
Other	19	0
Ending contract liabilities balance	1,983	1,918
Current	895	592
Non-current	1,088	1,326
Deferred revenue	$ 476	$ 522

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Borrowing costs Abstract [Abstract]

Disclosure of detailed information about borrowings


(in millions)	December 31, 2023		December 31, 2022
Current:
Term loans	$	571	$	223
Non-current:
Term loans	1,801		2,288
Total	$	2,372	$	2,511

Movements in interest bearing borrowings for the year ended December 31, 2023 and 2022 were as follows:


(in millions)	December 31, 2023		December 31, 2022
Opening balance	$	2,511	$	2,013
New loans and borrowings	46		971
Repayments	(228)		(301)
Other	43		(172)
Ending balance	$	2,372	$	2,511

The following table summarizes term loan facilities. The below arrangements are all considered to be secured.

Description

Currency

Nominal Interest
Rate

Interest

Payment

Terms

Principal

Payment

Terms

Year

Maturity

2023

Carrying

Amount

2022

Carrying

Amount

2018 Tool Equipment Purchase and Lease Financing(1)

USD

SOFR + 1.60%

Quarterly

2023

—

2019 Tool Equipment Purchase and Lease Financing(2)

USD

SOFR + 1.75%

Quarterly

2024

USD Term Loan A

USD

SOFR + 2.90%

Quarterly

Semi-Annual

2025

—

EUR Term Loan A

EUR

EURIBOR + 2.60%

Quarterly

Semi-Annual

2025

—

2019 USD Dresden Equipment Financing(3)

USD

SOFR + 1.75%

Semi- Annual

Semi-Annual

2026

2020 USD Equipment Financing(4)

USD

SOFR + 1.90%

Quarterly

2025

2019 EUR Dresden Equipment Financing(3)

EUR

EURIBOR + 1.75%

Semi- Annual

Semi-Annual

2024

368

Various

EUR, USD

Various

2024-2026

Current total

571

223

Non-current:

2019 Tool Equipment Purchase and Lease Financing(2)

USD

SOFR + 1.75%

Quarterly

2024

—

2019 USD Dresden Equipment Financing(3)

USD

SOFR + 2.25%

Semi-Annual

2026

108

2020 USD Equipment Financing(4)

USD

SOFR + 1.90%

Quarterly

2025

USD Term Loan A

USD

SOFR + 2.90%

Quarterly

Semi-Annual

2025

586

649

EUR Term Loan A

EUR

EURIBOR + 2.60%

Quarterly

Semi-Annual

2025

2019 EUR Dresden Equipment Financing(3)

EUR

EURIBOR + 2.25%

Semi-Annual

2026

387

2021 SGD EDB Loan

SGD

1.40%

Semi-Annual

2041

987

923

Various

EUR, USD

Various

2024-2027

Non-current total

1,801

2,288

Total

2,372

2,511

(1)On March 2, 2018, GLOBALFOUNDRIES SINGAPORE PTE, LTD. (“GFS”) entered into several Equipment Purchase and Lease Agreements with four banks to sell and leaseback certain semiconductor manufacturing equipment located in GFS’ fabrication facilities in Singapore for a total of $375 million. The total minimum lease payments amount to $375 million, to be paid in equal quarterly installments through March 1, 2023.

(2)On January 21, 2019, GFS entered into several Equipment Purchase Agreements and Lease Agreements with five banks to sell and leaseback certain semiconductor manufacturing equipment located in GFS’ Fabs in Singapore for a total of $425 million.

(3)On October 31, 2019, the Company, GLOBALFOUNDRIES Dresden Module One Limited Liability Company & Co., KG. and GLOBALFOUNDRIES Dresden Module Two Limited Liability Company & Co. KG. entered into a term facilities agreement with Bank of America Merrill Lynch International Designated Activity Company and ING Bank, a branch of ING-DIBA AG, as coordinating mandated lead arrangers, and Bank of America Merrill Lynch International Designated Activity Company as facility and security agent, which provides a maximum incremental facility commitment totaling $750 million secured by certain qualifying equipment assets.

(4)On April 23, 2020, GFS entered into several Equipment Purchase Agreements and Lease Agreements with four banks to sell and leaseback certain semiconductor manufacturing equipment located in GFS’ fabrication facilities in Singapore for a total of $300 million.

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


(in millions)	December 31, 2023		December 31, 2022
SGD EDB Loan	$	—	$	42
Revolving Credit Facility	1,012		1,012

Uncommitted Credit Facilities(1)	46		64




Total	$	1,058	$	1,118

(1) Credit facility made available to the Company, but the lender is not obligated to loan funds.

Receivables, Prepayments and Other Assets

12 Months Ended

Dec. 31, 2023

Trade and other current receivables [abstract]

Receivables, Prepayments and Other Assets


(in millions)	December 31, 2023		December 31, 2022
Current:
Trade receivables, other than related parties(1)	$	1,002	$	824


Other receivables	255		497
Unbilled accounts receivable(2)	33		24








Receivables from government grant	66		52
Receivables from related parties (Note 29)	12		11
Other current financial assets	52		79
Total	$	1,420	$	1,487
Non-current:
Advances to suppliers(3)	213		235
Non-trade receivables	—		10
Receivables from government grant	106		—
Payment in Lieu of Tax (“PILOT”) Bonds	—		11


Other	24		25

Total	$	343	$	281

(1)The Company’s trade receivables, other than related parties, are all classified as current and are expected to be collected within one year. The Company’s provision for sales returns was not material for either of the years ended December 31, 2023 and 2022. See the table below for the aging of the Company’s trade receivables, other than related parties.

(2)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 upon shipment of products or rendering services.

(3)Primarily represents advances to supplier to offset against future purchases.

The following table presents the activities in unbilled accounts receivable as of December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Beginning balance	$	24	$	43
Revenue recognized during the year	101		87

Amounts invoiced	(92)		(106)

Ending balance	$	33	$	24

The following table presents the aging of accounts receivable as of December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Receivables neither past due nor impaired	$	880	$	708

Less than 30 days	114		83
31 to 60 days	4		22
61 to 90 days	4		11

Total	$	1,002	$	824

Financial Risk Management Objectives and Policies - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of fair value measurement of assets [line items]
Assets	$ 18,044	$ 17,841
Liabilities	6,893	7,881
Cash equivalents \| Recurring fair value measurement
Disclosure of fair value measurement of assets [line items]
Assets	1,897	961
Cash equivalents \| Recurring fair value measurement \| Quoted Prices Identical Assets/ Liabilities (Level 1)
Disclosure of fair value measurement of assets [line items]
Assets	1,626	961
Cash equivalents \| Recurring fair value measurement \| Significant Other Inputs (Level 2)
Disclosure of fair value measurement of assets [line items]
Assets	271	0
Cash equivalents \| Recurring fair value measurement \| Significant Unobservable Inputs (Level 3)
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Investments in equity instruments \| Recurring fair value measurement
Disclosure of fair value measurement of assets [line items]
Assets	19	15
Investments in equity instruments \| Recurring fair value measurement \| Quoted Prices Identical Assets/ Liabilities (Level 1)
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Investments in equity instruments \| Recurring fair value measurement \| Significant Other Inputs (Level 2)
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Investments in equity instruments \| Recurring fair value measurement \| Significant Unobservable Inputs (Level 3)
Disclosure of fair value measurement of assets [line items]
Assets	19	15
Investments in marketable securities \| Recurring fair value measurement
Disclosure of fair value measurement of assets [line items]
Assets	1,501
Investments in marketable securities \| Recurring fair value measurement \| Quoted Prices Identical Assets/ Liabilities (Level 1)
Disclosure of fair value measurement of assets [line items]
Assets	1,189	994
Investments in marketable securities \| Recurring fair value measurement \| Significant Other Inputs (Level 2)
Disclosure of fair value measurement of assets [line items]
Assets	312	0
Investments in marketable securities \| Recurring fair value measurement \| Significant Unobservable Inputs (Level 3)
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Derivatives \| Recurring fair value measurement
Disclosure of fair value measurement of assets [line items]
Assets	132	177
Liabilities	56	66
Derivatives \| Recurring fair value measurement \| Quoted Prices Identical Assets/ Liabilities (Level 1)
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Liabilities	0	0
Derivatives \| Recurring fair value measurement \| Significant Other Inputs (Level 2)
Disclosure of fair value measurement of assets [line items]
Assets	132	177
Liabilities	56	66
Derivatives \| Recurring fair value measurement \| Significant Unobservable Inputs (Level 3)
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Liabilities	$ 0	$ 0

Finance Income and Expenses- Finance Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Interest income - deposits	$ 92	$ 31	$ 1
Interest income on FVOCI investments	30	8	0
Accretion income	27	12	5
Total finance income	$ 149	$ 51	$ 6

Employee Benefits Plans	12 Months Ended
Employee Benefits Plans	Dec. 31, 2023
Employee Benefits [Abstract]
Employee Benefits Plans	Employee Benefits Plans Retirement Savings Plans—The Company has a retirement savings plan, commonly known as a 401(k) plan, which allows participating employees in the United States to contribute a portion of their pre-tax salary up to Internal Revenue Service limits. The Company matches employee contributions dollar for dollar for the first 3% of participants’ contributions and 50 cents on each dollar of additional 3% of participants’ contributions, to a maximum of 4.5% of eligible compensation. The Company’s contributions to the 401(k) plan were $25 million, $32 million and $31 million for the years ended December 31, 2023, 2022 and 2021, respectively. The Company also has an employee benefits plan that requires the Company to make monthly contributions based on the statutory funding requirement into a Central Provident Fund for substantially all Singapore citizens and permanent residents. The Company’s contributions under this plan were $29 million, $31 million and $29 million for the years ended December 31, 2023, 2022 and 2021, respectively. See Note 22 for our Employee Stock Purchase Plan.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)

$ 1,018

$ 1,446

$ (254)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

1,451

1,623

1,618

Share-based payments

150

181

223

Interest and income taxes paid, net

^[1]

(9)

(68)

(107)

Finance income

(149)

(51)

(6)

Finance expense

137

111

114

Amortization of deferred income from government grants

(29)

(28)

(33)

Deferred income taxes

(Gain) Loss on disposal of property, plant and equipment and other

(103)

(39)

Gain on the sale of a business

(403)

Change in assets and liabilities:

Receivables, prepayments and other assets

(169)

(387)

Inventories

(148)

(261)

(202)

Trade and other payables

(190)

1,819

Net cash provided by operating activities

2,125

2,624

2,839

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of property, plant and equipment and intangible assets

(1,804)

(3,059)

(1,767)

Proceeds from government grants

138

Advances and proceeds from sale of property, plant and equipment and intangible assets

324

Purchase of marketable securities

(1,419)

(1,302)

Proceeds from sale of marketable securities

945

306

Proceeds from sale of a business

236

Other investing activities

(2)

(44)

(7)

Net cash used in investing activities

(1,882)

(4,058)

(1,450)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from issuance of equity instruments

168

1,444

Repayments of shareholder loan

(568)

Net proceeds from borrowings

971

617

Repayments of debt and finance lease obligations

(305)

(390)

(960)

Proceeds from government grants

Increase in restricted cash

Net cash provided by (used in) financing activities

(212)

842

650

Effect of exchange rate changes on cash and cash equivalents

(8)

Net increase (decrease) in cash and cash equivalents

(587)

2,031

Cash and cash equivalents at the beginning of the year

2,352

2,939

908

Cash and cash equivalents at the end of the year

$ 2,387

$ 2,352

$ 2,939

[1]

Includes interest paid of $121 million, $96 million and $101 million for years ended December 31, 2023, 2022 and 2021, respectively, and interest received of $123 million, $32 million and $1 million for the years ended December 31, 2023, 2022 and 2021, respectively, and taxes paid of $11 million, $4 million and $7 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventories [Abstract]

Schedule of inventories

Inventories consist of the following:


(in millions)	December 31, 2023		December 31, 2022
Work in progress	$	928	$	1,024
Raw materials and supplies	559		315

Total	$	1,487	$	1,339

Leases

12 Months Ended

Dec. 31, 2023

Disclosure of Leases [Abstract]

Leases

The Company has various lease agreements for certain of its offices, facilities, and equipment. Leases may include one or more options to renew. Renewals are not in the determination of the lease term unless the renewals are deemed to be reasonably certain at 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.


(in millions)	December 31, 2023			December 31, 2022
Amortization of right-of-use assets	$	57		$	82
Interest expense on lease liabilities	21			23
Short-term and low-value leases expense	—			1
Total net lease cost	$	78		$	106
Weighted average remaining lease term	12.4 years			7.18 years
Weighted average discount rate	5.16		%	4.75		%

The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 and 2022:


	December 31, 2023				December 31, 2022
(in millions)	Minimum Lease Payments		Present Value of Payments		Minimum Lease Payments		Present Value of Payments
Within 1 year	$	44	$	32	$	92	$	75
2-5 years	194		128		184		146
After 5 years	283		222		151		124
	$	521	$	382	$	427	$	345
Less: amounts representing
finance charges	(139)		—		(82)		—
Present value of minimum lease payments	$	382	$	382	$	345	$	345
Current			32				75
Non-current			350				270
Total			$	382			$	345

Supplemental cash flow information related to leases is as follows:


(in millions)	December 31, 2023		December 31, 2022
Cash flows used in operating activities:
Payments of short-term and low-value leases	$	—	$	(1)
Interest paid	(21)		(23)
Cash flows used in financing activities:
Payment of lease obligations	(77)		(89)

The following table summarizes the movement of ROU assets which primarily relates to building and leasehold improvements during the years ended December 31, 2023 and 2022 is as follows:


(in millions)	December 31, 2023		December 31, 2022
Beginning balance	$	282	$	305
Additions	117		59
Disposals	(7)		—

Amortization	(57)		(82)
Ending balance	$	335	$	282

Restructuring (Details) - USD ($) $ in Millions	12 Months Ended
Restructuring (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring [Abstract]
Restructuring expense	$ 71	$ 94	$ 0
Accelerated share-based compensation expense		3
Restructuring [Roll Forward]
Beginning balance	86	0
Provision	71	91
Amounts paid	(126)	(5)
Ending balance	$ 31	$ 86	$ 0

Restructuring

12 Months Ended

Dec. 31, 2023

Restructuring [Abstract]

Restructuring

In December 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 met the recognition criteria for the provisioning of phase one restructuring costs in the fourth quarter of 2022.

In February 2023, the Company announced phase two to the restructuring plan. Costs arising from this restructuring program comprised of termination benefits and costs associated with direct transition works.

The Company incurred $71 million and $94 million of restructuring charges for the years ended December 31, 2023, and 2022, respectively, which included $3 million of accelerated share-based compensation expense in 2022. These expenses are included in restructuring expense 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 December 31, 2023 and 2022 are summarized as follows:


(in millions)	2023		2022
Beginning balance	$	86	$	—
Provision	71		91
Amounts paid	(126)		(5)

Ending balance	$	31	$	86

The actual costs that the Company will incur may differ from these estimates based on the timing required to complete the restructuring plan, the number of people invoiced and the final termination benefits.

Leases - Maturity of Lease Payments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of maturity analysis of operating lease payments [line items]
Minimum Lease Payments	$ 521	$ 427
Present Value of Payments	382	345
Less: amounts representing finance charges	(139)	(82)
Minimum Undiscounted Operating Lease Payments due	382	345
Minimum present value of operating lease payments due	382	345
Current	32	75
Non-current	350	270
Total	382	345
Within 1 year
Disclosure of maturity analysis of operating lease payments [line items]
Minimum Lease Payments	44	92
Present Value of Payments	32	75
2-5 years
Disclosure of maturity analysis of operating lease payments [line items]
Minimum Lease Payments	194	184
Present Value of Payments	128	146
After 5 years
Disclosure of maturity analysis of operating lease payments [line items]
Minimum Lease Payments	283	151
Present Value of Payments	$ 222	$ 124

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

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

Summary of commitments

The Company’s unconditional purchase commitments are as follows:


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

Contracts for capital expenditures	$	1,136	$	2,774
Contracts for operating expenditures	2,786		3,587
Total	$	3,922	$	6,361
Due within the next 12 months	$	970	$	2,732

Related Party Disclosures - Transactions with Related Parties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Purchases and recharges from:	$ 61	$ 60	$ 60
Other transactions with:	66	52	48
SMP
Disclosure of transactions between related parties [line items]
Purchases and recharges from:	61	60	60
Other transactions with:	61	52	45
MDC General Services Holding Company L.L.C (recharge of expenses)
Disclosure of transactions between related parties [line items]
Other transactions with:	$ 5	$ 0	$ 3

Property, Plant and Equipment - Summary of Property, Plant And Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	$ 10,596
End of period	10,164	$ 10,596
Investment tax credits, property plant and equipment	226	179
Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	83
End of period	94	83
Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	3,323
End of period	3,732	3,323
Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	3,765
End of period	4,793	3,765
Computer
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	48
End of period	40	48
Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	3,377
End of period	1,505	3,377
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	34,381	31,914
Additions	905	3,658
Transfers from construction in progress	0	0
Disposals	(339)	(1,169)
Effects of exchange rate changes	13	(22)
End of period	34,960	34,381
Cost \| Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	122	130
Additions	16	0
Transfers from construction in progress	0	1
Disposals	0	(8)
Effects of exchange rate changes	0	(1)
End of period	138	122
Cost \| Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	7,867	7,576
Additions	121	67
Transfers from construction in progress	616	409
Disposals	(25)	(182)
Effects of exchange rate changes	2	(3)
End of period	8,581	7,867
Cost \| Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	22,569	22,350
Additions	19	27
Transfers from construction in progress	1,979	935
Disposals	(297)	(725)
Effects of exchange rate changes	11	(18)
End of period	24,281	22,569
Cost \| Computer
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	439	435
Additions	4	0
Transfers from construction in progress	7	21
Disposals	(2)	(17)
Effects of exchange rate changes	0	0
End of period	448	439
Cost \| Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	3,384	1,423
Additions	745	3,564
Transfers from construction in progress	(2,602)	(1,366)
Disposals	(15)	(237)
Effects of exchange rate changes	0	0
End of period	1,512	3,384
Accumulated Amortization
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	(23,785)	(23,201)
Additions	(1,322)	(1,447)
Disposals	316	858
Effects of exchange rate changes	(5)	5
End of period	(24,796)	(23,785)
Accumulated Amortization \| Land and Land Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	(39)	(37)
Additions	(5)	(6)
Disposals	0	4
Effects of exchange rate changes	0	0
End of period	(44)	(39)
Accumulated Amortization \| Building and Leasehold Improvements
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	(4,544)	(4,266)
Additions	(322)	(443)
Disposals	18	164
Effects of exchange rate changes	(1)	1
End of period	(4,849)	(4,544)
Accumulated Amortization \| Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	(18,804)	(18,507)
Additions	(976)	(975)
Disposals	296	674
Effects of exchange rate changes	(4)	4
End of period	(19,488)	(18,804)
Accumulated Amortization \| Computer
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	(391)	(384)
Additions	(19)	(23)
Disposals	2	16
Effects of exchange rate changes	0	0
End of period	(408)	(391)
Accumulated Amortization \| Construction in Progress
Reconciliation of changes in property, plant and equipment [abstract]
Beginning of period	(7)	(7)
Additions	0	0
Disposals	0	0
Effects of exchange rate changes	0	0
End of period	$ (7)	$ (7)

Trade Payables and Other Liabilities

12 Months Ended

Dec. 31, 2023

Subclassifications of assets, liabilities and equities [abstract]

Trade Payables and Other Liabilities


(in millions)	December 31, 2023		December 31, 2022
Current:
Trade payables	$	511	$	532
Accrued expenses	496		573

Contract liabilities(1)	895		592
Advances and deposits(2)	68		93
Payable for property, plant and equipment and Intangible Assets	282		961

Other(3)	97		98










Total	$	2,349	$	2,849
Non-current:

Payable for Intangible Assets	76		92
Contract liabilities(1)	1,088		1,326



Other(3)	26		56
Total	$	1,190	$	1,474

(1)Contract liabilities comprises contract liabilities for payments received in advance of the satisfaction of performance obligations for wafers, as well as NRE services.

(2)Advances and deposits include advances from customers of $22 million (2022: $73 million) collected for purchase orders.

(3)Other includes other financial liabilities, due from related parties, deferred tax liabilities and non-current advances and deposits. See Note 10 for further details on other financial liabilities.

The following table presents the activities in contract liabilities for the years ended December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Beginning contract liabilities balance	$	1,918	$	1,901
Cash receipts in advance of satisfaction of performance obligations	805		1,189
Released to the consolidated statements of operations (1)	(759)		(951)
Amounts credited to customers	—		(221)
Other(2)	19		—
Ending contract liabilities balance	$	1,983	$	1,918

Current	$	895	$	592
Non-current	1,088		1,326
Total	$	1,983	$	1,918

(1)Of revenue released to the consolidated statements of operations for the years ended December 31, 2023 and 2022, $476 million and $522 million, respectively were included in the beginning balance of the contract liabilities.

(2)Includes $19 million reclassification from accrued liabilities to contract liabilities.

Selling, General and Administrative Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Staff costs, maintenance costs, and utilities	$ 342	$ 417	$ 537
Depreciation of property, plant and equipment and amortization of intangible assets	25	45	49
Other	106	34	9
Total	473	496	595
Expense from share-based payment transactions with employees	$ 96	$ 92	$ 152

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax asset	$ 3,665	$ 3,708
Profit (loss), attributable to owners of parent	(1,020)	(1,448)	$ 250
Deferred tax assets	241	292
Current income tax receivable	0	1
Current income tax payable	19	14
Unused Capital Allowances
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	440	713
Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	58	58
Unused Investment Allowances
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	$ 843	843
Republic of Singapore
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets realized (as a percent)	100.00%
Current income tax payable	$ 5	9
Uncertain tax provisions	5	8
Germany
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Profit (loss), attributable to owners of parent	1,119	1,132
Trade tax losses	$ 830	851
Maximum operating loss carryforwards (as a percent)	60.00%
United States of America
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Current income tax payable	$ 4	3
Uncertain tax provisions	2	0
United States of America \| Operating Loss Carryforward
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Operating loss carryforward	5,984	7,307
United States of America \| Unused Tax Credits Due to Expire
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Operating loss carryforward	4,434
United States of America \| Unused Research and Development Tax Credits
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax asset	186	157
CALIFORNIA \| Operating Loss Carryforward
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Operating loss carryforward	821	822
CALIFORNIA \| Unused Research and Development Tax Credits
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax asset	22	17
Other states \| Operating Loss Carryforward
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Operating loss carryforward	868	885
NEW YORK \| Nonrefundable New York Empire Zone
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax asset	947	1,115
Texas, Minnesota, Vermont, North Carolina, and New Jersey \| Operating Loss Carryforward
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax asset	10	8
Europe
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Current income tax payable	10	2
Uncertain tax provisions	$ 2	$ 3

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Total	Ordinary Share	Additional Paid-In Capital	Loan from Shareholder	Accumulated Deficit	Hedging Reserve	Foreign Currency Translation Reserve and Investments Reserves	Non- controlling Interest
Beginning balance	$ 7,241	$ 7,175	$ 10	$ 11,707	$ 10,681	$ (15,219)	$ (15)	$ 11	$ 66
Beginning balance (in shares) at Dec. 31, 2020			500,000
Proceeds from issuance of equity instruments (in shares)			32,000
Proceeds from issuance of equity instruments	1,445	1,445	$ 1	1,444
Share-based payments	223	223		223
Repayment of loan from shareholder	(568)	(568)			(568)
Conversion of loan from shareholder				10,113	(10,113)
Net income (loss) for the year	(254)	(250)				(250)			(4)
Other comprehensive income	(54)	(50)					(42)	(8)	(4)
Ending balance (in shares) at Dec. 31, 2021			532,000
Ending balance at Dec. 31, 2021	8,033	7,975	$ 11	23,487	0	(15,469)	(57)	3	58
Beginning balance	8,033	7,975	$ 11	23,487	0	(15,469)	(57)	3	58
Proceeds from issuance of equity instruments (in shares)			6,000
Proceeds from issuance of equity instruments	163	163		163
Share-based payments (in shares)			10,000
Share-based payments	181	181		181
Net income (loss) for the year	1,446	1,448				1,448			(2)
Other comprehensive income	$ 137	146					160	(14)	(9)
Ending balance (in shares) at Dec. 31, 2022	547,755		548,000
Ending balance at Dec. 31, 2022	$ 9,960	9,913	$ 11	23,831	0	(14,021)	103	(11)	47
Beginning balance	9,960	9,913	$ 11	23,831	0	(14,021)	103	(11)	47
Proceeds from issuance of equity instruments (in shares)			6,000
Proceeds from issuance of equity instruments	46	46		46
Share-based payments	150	150		150
Net income (loss) for the year	1,018	1,020				1,020			(2)
Other comprehensive income	$ (23)	(25)					(37)	12	2
Ending balance (in shares) at Dec. 31, 2023	553,548		554,000
Ending balance at Dec. 31, 2023	$ 11,151	11,104	$ 11	24,027	0	(13,001)	66	1	47
Beginning balance	$ 11,151	$ 11,104	$ 11	$ 24,027	$ 0	$ (13,001)	$ 66	$ 1	$ 47

Government Grants - Located in Consolidated Statements of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Government Grants [Line Items]
Income from government grants	$ 58	$ 42	$ 33
Cost of revenue
Government Grants [Line Items]
Income from government grants	29	30	33
Research and development expenses
Government Grants [Line Items]
Income from government grants	29	11	0
Selling, general and administrative expenses
Government Grants [Line Items]
Income from government grants	$ 0	$ 1	$ 0

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	$ 335	$ 282	$ 305
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Transfers from construction in progress	0	0
Right-of-use assets	996	888
Cost \| Construction in Progress
Disclosure of detailed information about property, plant and equipment [line items]
Transfers from construction in progress	(2,602)	(1,366)
Accumulated Amortization
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	$ (57)	$ (82)	$ (81)

Share-Based Compensation - RSU and PSU Activity (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares
Restricted Share Units (RSU)
Number of RSUs
Outstanding at beginning of period (in shares) \| shares	3,211,430	847,430
Granted (in shares) \| shares	2,426,183	3,416,545
Forfeited (in shares) \| shares	(390,769)	(314,158)
Exercised (in shares) \| shares	(1,093,061)	(738,387)
Outstanding at end of period (in shares) \| shares	4,153,783	3,211,430
Weighted average grant date fair value
Outstanding at beginning of period (in USD per share) \| $ / shares	$ 54.39	$ 39.59
Granted (in USD per share) \| $ / shares	62.94	57.09
Forfeited (in USD per share) \| $ / shares	55.28	55.36
Exercised (in USD per share) \| $ / shares	55.35	49.51
Outstanding at end of period (in USD per share) \| $ / shares	$ 58.87	$ 54.39
Performance Share Units (PSU)
Number of RSUs
Outstanding at beginning of period (in shares) \| shares	537,195	0
Granted (in shares) \| shares	875,646	571,277
Forfeited (in shares) \| shares	(220,422)	(34,082)
Outstanding at end of period (in shares) \| shares	1,192,419	537,195
Weighted average grant date fair value
Outstanding at beginning of period (in USD per share) \| $ / shares	$ 70.91	$ 0
Granted (in USD per share) \| $ / shares	69.73	70.85
Forfeited (in USD per share) \| $ / shares	69.90	70.91
Outstanding at end of period (in USD per share) \| $ / shares	$ 69.96	$ 70.91

Goodwill and Intangible Assets - Schedule of Goodwill and Intangible Assets Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	$ 363
Intangible assets and goodwill at end of period	391	$ 363
Technology, Licenses and Similar Rights
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	246
Intangible assets and goodwill at end of period	186	246
Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	92
Intangible assets and goodwill at end of period	181	92
Patents
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	1
Intangible assets and goodwill at end of period	1	1
Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	18
Intangible assets and goodwill at end of period	18	18
Others
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	6
Intangible assets and goodwill at end of period	5	6
Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	1,966	1,865
Additions	157	163
Disposals	(40)	(62)
Intangible assets and goodwill at end of period	2,083	1,966
Cost \| Technology, Licenses and Similar Rights
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	1,217	1,202
Additions	61	62
Disposals	(40)	(47)
Intangible assets and goodwill at end of period	1,238	1,217
Cost \| Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	368	284
Additions	96	96
Disposals	0	(12)
Intangible assets and goodwill at end of period	464	368
Cost \| Patents
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	226	229
Additions	0	0
Disposals	0	(3)
Intangible assets and goodwill at end of period	226	226
Cost \| Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	18	18
Additions	0	0
Disposals	0	0
Intangible assets and goodwill at end of period	18	18
Cost \| Others
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	137	132
Additions	0	5
Disposals	0	0
Intangible assets and goodwill at end of period	137	137
Accumulated Amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	(1,603)	(1,488)
Additions	(129)	(176)
Disposals	40	61
Intangible assets and goodwill at end of period	(1,692)	(1,603)
Accumulated Amortization \| Technology, Licenses and Similar Rights
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	(971)	(867)
Additions	(121)	(150)
Disposals	40	46
Intangible assets and goodwill at end of period	(1,052)	(971)
Accumulated Amortization \| Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	(276)	(278)
Additions	(7)	(10)
Disposals	0	12
Intangible assets and goodwill at end of period	(283)	(276)
Accumulated Amortization \| Patents
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	(225)	(212)
Additions	0	(16)
Disposals	0	3
Intangible assets and goodwill at end of period	(225)	(225)
Accumulated Amortization \| Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	0	0
Additions	0	0
Disposals	0	0
Intangible assets and goodwill at end of period	0	0
Accumulated Amortization \| Others
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill at beginning of period	(131)	(131)
Additions	(1)	0
Disposals	0	0
Intangible assets and goodwill at end of period	$ (132)	$ (131)

Trade Payables and Other Liabilities - Schedule of Noncurrent and Current Trade and Other Payables (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current:
Trade payables	$ 511	$ 532
Accrued expenses	496	573
Contract liabilities	895	592
Advances and deposits	68	93
Payable for property, plant and equipment and Intangible Assets	282	961
Other	97	98
Total	2,349	2,849
Non-current:
Payable for Intangible Assets	76	92
Contract liabilities	1,088	1,326
Other	26	56
Total	1,190	1,474
Deposits from customers	$ 22	$ 73

Net Revenue - Narrative (Details) $ in Billions	12 Months Ended
Net Revenue - Narrative (Details) $ in Billions	Dec. 31, 2023 USD ($)
Revenue from Contracts with Customers [Abstract]
Cash receipts from futures contracts, forward contracts, option contracts and swap contracts	$ 20

Inventories

12 Months Ended

Dec. 31, 2023

Inventories [Abstract]

Inventories

Inventories consist of the following:


(in millions)	December 31, 2023		December 31, 2022
Work in progress	$	928	$	1,024
Raw materials and supplies	559		315

Total	$	1,487	$	1,339

Financial Risk Management Objectives and Policies - Aging of Financial assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Carrying Amount	$ 2,372	$ 2,511
Credit risk
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Carrying Amount	2,785	2,254
Credit risk \| Receivables neither past due nor impaired
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Carrying Amount	2,651	2,137
Credit risk \| Less than 30 days
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Carrying Amount	127	84
Credit risk \| 31-90 Days
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Carrying Amount	7	33
Credit risk \| 91-120 Days
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Carrying Amount	0	0
Credit risk \| Great than 120 days
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Carrying Amount	$ 0	$ 0

- Definition

+ References + Details

Long-Term Debt - Narrative (Details) $ in Millions, $ in Millions			12 Months Ended
	Oct. 13, 2021 USD ($)	Sep. 03, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 03, 2021 SGD ($)
Disclosure of detailed information about borrowings [line items]
Loans and borrowings			$ 2,372	$ 2,511	$ 2,013
Non-current portion of long-term debt			$ 1,801	2,288
2021 SGD EDB Loan
Disclosure of detailed information about borrowings [line items]
Maximum borrowing capacity		$ 1,149				$ 1,541
Nominal Interest Rate		1.40%	1.40%			1.40%
Borrowing term (in years)		5 years
New loans and borrowings			$ 1,100	971
Non-current portion of long-term debt			987	923
Five-year Revolving and Letter of Credit Facilities Agreement
Disclosure of detailed information about borrowings [line items]
Maximum borrowing capacity	$ 1,000
Borrowing term (in years)	5 years
Deferred Financing costs Netting
Disclosure of detailed information about borrowings [line items]
Loans and borrowings			7	12
Deferred Income From Government Grants \| 2021 SGD EDB Loan
Disclosure of detailed information about borrowings [line items]
Loans and borrowings			$ 179	$ 184
Nominal Interest Rate			3.20%

Customer And Supplier Concentration - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SOI Wafers
Disclosure of major customers [line items]
Amount due to supplier	$ 61	$ 56
SOI Wafers \| Supplier Risk
Disclosure of major customers [line items]
Supplier concentration risk (as a percent)	63.00%	54.00%	46.00%
Customer A
Disclosure of major customers [line items]
Percentage of entity's revenue	8.00%	9.00%	12.00%
Trade receivables	$ 122	$ 71
Customer B
Disclosure of major customers [line items]
Percentage of entity's revenue	17.00%	16.00%	15.00%
Trade receivables	$ 237	$ 163

Customer And Supplier Concentration - Revenue by Major Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of major customers [line items]
Revenue from contracts with customers	$ 7,392	$ 8,108	$ 6,585
Customer A
Disclosure of major customers [line items]
Revenue from contracts with customers	$ 620	$ 746	$ 811
Percentage of entity's revenue	8.00%	9.00%	12.00%
Customer B
Disclosure of major customers [line items]
Revenue from contracts with customers	$ 1,279	$ 1,329	$ 995
Percentage of entity's revenue	17.00%	16.00%	15.00%

Financial Risk Management Objectives and Policies - Narrative (Details)	Dec. 31, 2023	Dec. 31, 2022
Customer Risk \| Ten Largest Customers
Disclosure of nature and extent of risks arising from financial instruments [line items]
Customer concentration risk (as a percent)	79.00%	74.00%

Provisions

12 Months Ended

Dec. 31, 2023

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

Provisions

The movement in provision for asset retirement obligations and restructuring expenses during the years ended December 31, 2023 and 2022 is as follows:


(in millions)	December 31, 2023		December 31, 2022
Beginning balance	$	298	$	349
Arising during the period	2		2
Accretion cost	5		(4)
Restructuring expenses	71		91
Utilized(1)	(136)		(52)
Released to the consolidated statements of operations(2)	$	—	(88)
Ending balance	$	240	$	298

(2) Relates to the derecognition of asset retirement obligation related to the sale of the EFK business.

The Company records a provision for site restoration costs as required by legal and contractual obligations if assessed to be probable that it will incur such costs. Because of the long-term nature of the liability, the greatest uncertainty in estimating the provision is the costs that will be incurred. The Company has estimated costs based on currently available information provided by experts about the extent of restoration work required.

The provision has been calculated using a discount rate of 1.72% to 3.35% (2022: 1.58% to 4.04%), which is the risk-free rate in the jurisdiction of the liability. The site restoration costs are expected to be incurred on site abandonment for owned property and on lease expiration for leasehold land. The expected timing of incurring site restoration costs is consistent with the remaining useful lives of the underlying property, plant and equipment.

See Note 21 for information regarding the Company’s restructuring initiative.

Government Grants (Tables)

12 Months Ended

Dec. 31, 2023

Government grants [Abstract]

Disclosure of movement in deferred income from government grants

The following table presents the movement in deferred income from government grants for the years ended December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Beginning balance	$	404	$	176
Received/receivable during the period	81		270
Fair value of EDB loan	7		—
Capitalized to fixed assets	(74)		—
Released to the consolidated statements of operations	(58)		(42)
Ending balance	$	360	$	404

Current	93		110
Non-current	267		294
Total	$	360	$	404

Disclosure of government grants recognized in consolidated statement of operations

Government grants were recognized in the consolidated statements of operations as follows:


(in millions)	December 31, 2023		December 31, 2022		December 31, 2021
Cost of revenue	$	29	$	30	$	33
Research and development expenses	29		11		—
Selling, general and administrative	—		1		—
Total balance	$	58	$	42	$	33

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

Schedule of basic and diluted earnings per share

Basic and diluted earnings (loss) per share has been calculated for the years ended December 31, 2023, 2022, and 2021 as follows:


(in millions except per share amounts)	2023		2022		2021

Net income (loss) attributable to equity shareholders of the Company	$	1,020	$	1,448	$	(250)

Weighted average ordinary shares outstanding
Basic	552		539		506
Diluted	556		552		506
Total basic and diluted earnings per share attributable to equity shareholders
Basic	$	1.85	$	2.69	$	(0.49)
Diluted	$	1.83	$	2.62	$	(0.49)

Cost of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
Cost of Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contracts with Customers [Abstract]
Depreciation of property, plant and equipment and amortization of intangible assets	$ 1,321	$ 1,468	$ 1,422
Inventory changes materials costs and other	1,742	1,834	1,726
Staff costs, maintenance costs, and utilities(2)	2,228	2,567	2,424
Total cost of revenues	5,291	5,869	5,572
Staff, maintenance, and utility costs	$ 48	$ 64	$ 55

Cash And Cash Equivalents - Concentration of Cash and Cash Equivalents by Geography (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of geographical areas [line items]
Cash and cash equivalents	$ 2,387	$ 2,352	$ 2,939	$ 908
United States of America
Disclosure of geographical areas [line items]
Cash and cash equivalents	481	484
Republic of Singapore
Disclosure of geographical areas [line items]
Cash and cash equivalents	1,666	1,775
Other
Disclosure of geographical areas [line items]
Cash and cash equivalents	$ 240	$ 93

Summary of Material Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]

Summary of Material Accounting Policies

The Company has consistently applied the following accounting policies to all periods presented in these consolidated financial statements, except if mentioned otherwise. In addition, the Company adopted Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) from 1 January 2023. The amendments require the disclosure of ‘material’, rather than ‘significant’, accounting policies. The amendments also provide guidance on the application of materiality to disclosure of accounting policies, assisting entities to provide useful, entity-specific accounting policy information that users need to understand other information in the financial statements. Management reviewed the accounting policies and made updates to the information disclosed in Note 3 Material accounting policies (2022: Significant accounting policies) in certain instances in line with the amendments.

Investments in Joint Operations—A joint operation is an arrangement in which the Company has joint control whereby the Company has rights to assets, and obligations for the liabilities, relating to an arrangement. The Company accounts for each of its assets, liabilities and transactions, including its share of those held or incurred jointly, in relation to the joint operation.

Cash and Cash Equivalents—Cash and cash equivalents consist of highly liquid time deposits and investments that are readily convertible into cash, which are not subjected to significant risk of changes in value, and have original maturities of three months or less at the time of purchase.

Trade Accounts Receivable—Trade accounts receivable are recognized initially at fair value. A provision for impairment of trade accounts receivable is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivable.

Inventories—Inventories are stated at standard cost adjusted to the lower of cost or net realizable value. The Company measures the cost of its inventory based on a standard cost process with appropriate adjustments for purchasing and manufacturing variances, which approximates weighted average cost.

Inventory allowances are made on an item-by-item basis, except where it may be appropriate to group similar or related items. An allowance is made for the estimated losses due to obsolescence based on expected future demand and market conditions. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

Financial Instruments:

Category of financial instruments and measurement

Recognition and Initial Measurement—Trade receivables are initially recognized when they are originated. All other financial assets and financial liabilities are initially recognized when the Company becomes a party to the contractual provisions of the instrument.

A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus or minus, for an item not at fair value in the profit and loss (“FVPL”), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.

Classification and Measurement—All recognized financial assets are measured based on amortized cost or fair value. The classification is based on two criteria, the Company’s business model for managing the assets and whether the instrument’s contractual cash flows represent solely payments of principal and interest (“SPPI”).

The assessment of whether contractual cash flows on debt instruments are solely comprised of principal and interest is made based on the facts and circumstances at the initial recognition of assets.

Financial assets include trade and other receivables. These are recorded at amortized cost when such financial assets are held with the objective to collect contract cash flows that meet the SPPI criterion.

Financial assets recorded at FVPL comprise unquoted equity instruments which the Company had not irrevocably elected, at initial recognition, to classify at fair value through other comprehensive income (“FVOCI”).

Financial assets recorded at FVOCI comprise marketable securities that are quoted debt instruments when such financial assets are held with the objectives of both collecting contractual cash flows and selling these financial assets, and meet the SPPI criterion. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or

losses and interest income which are recognized in the consolidated statements of operations. Interest income from these financial assets is included in finance income using the effective interest rate method.

Derecognition of financial assets

The Company derecognizes a financial asset only when the contractual rights to the cash flows from the financial asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the financial asset to another entity. On derecognition of a financial asset at amortized cost in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in the consolidated statements of operations.

On derecognition of an investment in a debt instrument at FVOCI, the difference between the asset’s carrying amount and the sum of the consideration received and receivable and the cumulative gain or loss that had been recognized in OCI is recognized in the consolidated statements of operations.

Impairment of financial assets

The Company will record an allowance for expected credit losses (“ECL”) for all loans to related parties, marketable securities (that are quoted debt instruments), contract assets, and trade receivables and other receivables not recorded at FVPL. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive. The shortfall is then discounted using the asset’s effective interest rate.

The Company estimated its ECL for its contract assets and trade receivables at an amount equal to lifetime credit losses, while marketable securities and other receivables are measured at 12-months ECL if they are determined to have low credit risk at the reporting date.

Offsetting of Financial Instruments—Financial assets and financial liabilities are offset and the net amount reported in the consolidated statements of financial position when there is an enforceable legal right to offset the recognized amounts, and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously.

Derivative Financial Instruments and Hedge Accounting—Through its operating, investing and financing activities in the normal course of business, the Company is exposed to various types of market risk including foreign exchange risk, interest rate risk and risks associated with changes in the market price of certain commodities. The Company uses derivative financial instruments, such as foreign currency forward contracts, interest rate swaps, cross currency swaps and commodity swaps to mitigate a portion of the risks associated with changes in foreign currency exchange rates, interest rates and commodity prices. The Company’s objective for holding derivatives include reducing, eliminating and efficiently managing the economic impact of these exposures as effectively as possible. The Company’s derivative programs include strategies that both qualify and do not qualify for hedge accounting treatment. However, the Company does not use derivative financial instruments for trading or speculative purposes.

Derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value at each reporting date. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.

Foreign currency forward contracts are used to hedge a portion of certain foreign currency-denominated forecasted operating expenditures, primarily in Euro (“EUR”), Japanese Yen (“JPY”) and Singapore Dollar (“SGD”). The Company also hedges future cash flows for certain foreign currency-denominated forecasted capital expenditures, primarily in EUR and JPY. Certain foreign currency forward contracts not designated as hedging instruments are also used to manage the variability in foreign exchange rates on certain balance sheet amounts and to manage other foreign currency exposures.

The Company uses interest rate swaps, cross-currency interest rate swaps and cross-currency swaps to protect itself against adverse fluctuations in interest rates and foreign currency exchange rates and to reduce its exposure to variability in forecasted cash flows associated with the Company’s floating-rate and foreign currency-denominated debt.

The Company also uses commodity swaps to hedge forecasted electricity and natural gas purchases to minimize the impact of commodity price movements on the reported earnings of the Company and on future cash flows related to fluctuations of the contractually specified, separately identifiable and reliably measurable commodity risk component.

At the inception of the hedge relationship, the Company documents the relationship between the hedging instrument and the hedged item along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge, and on an ongoing basis, the Company documents whether there continues to be an economic relationship between the hedged item and the hedging instruments. The Company designates these derivative instruments in cash flow hedges of forecasted operating and capital expenditures or floating-rate and foreign currency-denominated debt, as applicable, and evaluates hedge effectiveness prospectively.

The effective portion of the gain or loss on these contracts is reported as a component of OCI and reclassified to the consolidated statements of operations in the same line item and in the same period during which the associated hedged forecasted transaction affects earnings. For hedges of capital expenditures, the amount in OCI is incorporated into the initial carrying amounts of the non-financial assets and depreciated over the average useful life of the associated assets. Any

ineffective portion of hedges or changes in fair value from excluded components of the hedge are immediately recorded in the consolidated statements of operations.

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, or exercised, or when it no longer meets the criteria for hedge accounting. When a forecasted transaction is no longer expected to occur, the gain or loss accumulated in OCI is recognized immediately in the consolidated statements of operations.

Property, Plant and Equipment —Construction in progress and property, plant and equipment are stated at historical cost, net of accumulated depreciation. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date. Major additions and improvements are capitalized as appropriate, only when it is probable that future economic benefits associated with the item and the cost of the item can be measured reliably; minor replacements and repairs are charged to the consolidated statements of operations. The Company also capitalizes interest on borrowings related to eligible capital expenditures. Capitalized interest is added to the cost of qualified assets and depreciated together with that asset cost. The Company also records capital-related government grants as a reduction to property, plant and equipment.

Commencement of depreciation related to construction in progress and property, plant and equipment involves determining when the assets are available for their intended use. The Company considers various factors which include functionality, engineering specifications, nature and usage of assets among others, in assessing the conditions necessary for the assets to be capable of operating in the manner intended by the management. The Company also factors in the length of time it takes for the assets to reach the tooling qualification criteria from the initial point of when the assets are received. Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:


Building and leasehold/land improvements			Up to 50 years (or the remaining lease term of related land on which the buildings are erected, if shorter)
Equipment			2 to 10 years
Computers			5 years

The Company periodically assesses 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 income before income taxes of $76 million for the year ended December 31, 2023.

Leases—The Company determines if an arrangement is a lease or contains a lease at inception. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Right-of-use assets—Right-of-use (“ROU”) assets are reported within property, plant and equipment, and are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of ROU assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. ROU assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets.

Lease liabilities—At the commencement date of the lease, the Company recognizes lease liabilities at the present value of the lease payments to be made over the lease term.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying assets. The Company’s lease liabilities are separately reported in the consolidated statements of financial position under non-current portion of lease obligations and current portion of lease obligations.

Short-term leases and leases of low-value assets—The Company applies the short-term lease recognition exemption to leases that have a lease term not exceeding 12 months, or for leases of low-value assets. The payment for such leases is recognized in the Company’s consolidated statements of operations on a straight-line basis over the lease term.

Intangible Assets—Technology, patent, software licenses and similar rights acquired separately are stated at cost less accumulated amortization or are adjusted to fair value when impaired. Intangible assets acquired through business combinations which include customer relationships and manufacturing and process technology, are recorded at estimated fair values at the date of acquisition. Intangible assets are amortized based on the pattern in which the economic benefits of the respective intangible asset are consumed, which is, in general, on a straight-line basis over their estimated useful lives of between 3 and 10 years. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis.

Impairment of Non-Financial Assets—The Company reviews, at each reporting date, the carrying amount of the Company’s property, plant and equipment and finite lived intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any indication exists, the recoverable amount of the asset is estimated in order to determine the extent, if any, of the impairment loss. Where it is not possible to estimate the recoverable amount of an individual assets, the Company estimates the recoverable amount of the cash generating unit (“CGU”) to which the asset belongs. The recoverable amount of an asset or CGU is estimated to be the higher of an asset’s or CGU’s fair value less costs to dispose and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset or CGU is considered impaired and is written down to its recoverable amount. The Company also evaluates, and adjusts, if appropriate, the asset’s useful lives, at each reporting date or when impairment indicators exist.

In assessing value in use, the estimated future post-tax cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Impairment losses are recognized in the consolidated statements of operations to the extent the recoverable amount, measured at the present value of discounted cash flows attributable to the assets, is less than their carrying value.

If the recoverable amount subsequently increases, the impairment loss previously recognized will be reversed to the extent of the increase in the recoverable amount, provided that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. The impairment loss reversal is recognized immediately in the consolidated statements of operations.

Revenue Recognition—The Company generates revenue primarily from fabricating semiconductor wafers for its customers using the manufacturing processes based on their own or third parties’ proprietary integrated circuit designs and, to a lesser extent, the Company also generates revenue from engineering and other pre-fabrication services such as non-recurring engineering (“NRE”) services, which include design services and mask production.

The Company recognizes revenue when performance obligations are satisfied. The performance obligations are satisfied at the point at which control of the wafers is transferred to the customer, which is determined to be at the point of wafer shipment from the Company’s facilities or delivery to the customer location. NRE services are recognized over time as the Company performs the services based on a percentage of costs incurred over total expected costs.

The Company generally requires a purchase order from all of its customers, to which the Company responds with an order acknowledgement and a copy of the Company’s standard terms and conditions. The Company also enters into master supply agreements (“MSA”) with certain of its customers that may specify additional terms and conditions, such as pricing formulas based on volume, volume discounts, calculation of yield adjustments, indemnifications, transfer of title and risk of loss, and payment terms. The Company also requires a purchase order from its customers with which it has MSAs for specific products and quantities. As a result, the Company has concluded that the combination of a purchase order and order acknowledgement, including the Company’s standard terms and conditions, and the MSA, if applicable, create enforceable rights and obligations between the Company and its customers. For certain customers under long-term supply agreements (“LTAs”) with minimum volume requirements that are subject to a certain breakage fee if such commitment is not met, the Company has concluded that LTAs’ terms and conditions generally constitute enforceable rights and obligations for revenue recognition purposes, unless the underlying facts and circumstances vary and indicate otherwise.

Typically, goods and services provided under the Company’s contracts are accounted for as a single performance obligation. However, in some contracts, the Company provides multiple distinct goods or services to a customer. In those cases, the Company accounts for the distinct contract deliverables as separate performance obligations at the stated contract value, which appropriately represents the individual performance obligation’s estimated standalone selling price.

The Company estimates for the breakage fee arising from not meeting the minimum purchase requirements under certain LTAs with customers as variable consideration and includes such fee in the contract transaction price if not constrained, and accordingly, recognizes as revenue upon satisfaction of performance obligations for wafers over the expected term of the agreement. Given the volumes under these arrangements are usually not guaranteed and subject to subsequent negotiations or changes, breakage fees that are constrained are not included in the contract transaction price for revenue recognition purposes.

The Company estimates the variable consideration related to volume rebates and yield adjustments for certain contracts that may be refundable to customers through the issuance of a credit note, and accordingly, recognizes revenue in accordance with the pattern applicable to the performance obligation, subject to a constraint. The Company determines the amounts to be recognized based on the amount of potential refund required by the contract, historical experience and other surrounding facts and circumstances. These potential revenue adjustments are accrued and netted against accounts receivable on the consolidated statements of financial position.

Our contracts may be subsequently modified to reflect changes in scope or customer requirements. Generally, our contract modifications are for goods or services that are distinct from the existing contract and are accounted for as a new contract and performance obligation, which are recognized prospectively. If contract modifications are for goods or services that are

not distinct from the existing contract, they are accounted for as if they are part of the original contract with the effect of the contract modification recognized as an adjustment to revenue on a cumulative catch-up basis.

A contract asset (“unbilled accounts receivables”) is recognized when the Company has recognized revenue, but not issued an invoice for payment. The Company has determined that unbilled accounts receivables are not considered a significant financing component of the Company’s contracts. Contract assets are included in receivables, prepayments and other assets on the consolidated statements of financial position and are transferred to trade receivables when invoiced (see Note 6).

A contract liability is recognized when the Company receives payments in advance of the satisfaction of performance obligations and are included as deferred revenue on the consolidated statements of financial position (see Note 11). This includes upfront non-refundable capacity access fees under certain LTAs with customers which are accounted for as additional wafer price considerations and recognized as revenue upon satisfaction of performance obligations for wafers over the expected term of the agreements.

Provisions—Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are mainly made up of site restoration obligations, as well as restructuring charges. The associated site restoration costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the estimated useful life of the related long-lived assets.

A provision for restructuring is recognized when the Company has approved a detailed and formal restructuring plan, and the restructuring either has commenced or has been announced publicly. Future operating losses are not provided for.

The Company records site restoration obligations in the period in which they are incurred at their estimated fair value. Site restoration obligations consist of the present value of the estimated costs of dismantlement, removal, site reclamation and similar activities associated with facilities built on land held under long-term operating leases. The site restoration obligations are recorded as a liability at the estimated present value as of the related long-lived asset’s inception discounted using a pre-tax rate that reflects the current market assessment of the time value of money and risks specific to the site restoration obligations. After initial recognition, the liability is increased for the passage of time, with the increase being reflected as accretion expense in the line item “finance expenses” in the consolidated statements of operations. The associated site restoration costs are capitalized as part of the carrying amount of the underlying asset and depreciated over the estimated useful life of the related long-lived asset. Subsequent adjustments in the discount rates, estimated amounts, timing and probability of the estimated future costs and changes resulting from the passage of time are recognized as an increase or decrease in the carrying amount of the liability and the related site restoration cost capitalized as part of the carrying amount of the related long-lived asset on a prospective basis. If the decrease in the liability exceeds the remaining carrying amount of the related long-lived assets, the excess is recognized in the consolidated statements of operations.

Deferred Tax Assets—Deferred tax assets are recognized for all deductible temporary differences, carryforward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carryforward of unused tax credits and unused tax losses can be utilized except in respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at each balance sheet date and are recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the balance sheet date.

Earnings Per Share—Basic earnings per share is calculated by dividing the net income (loss) attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings per share is calculated by dividing the net income (loss) attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding, adjusted for the effects of all potentially dilutive ordinary shares. The weighted average number of ordinary shares outstanding is increased by the number of additional ordinary shares that would have been issued by the Company assuming exercise of all options with exercise prices below the average market price for the year.

Share-based compensation—Share-based compensation expense related to share awards is recognized based on the fair value of the awards granted.

The grant date fair value of equity-settled share-based payment awards granted to employee is recognized as an employee benefit expense, with a corresponding increase in equity, over the vesting period of the awards, The amount recognized as an expense is adjusted to reflected the number of awards for which the service and non-market performance conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that meet the service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual performance.

Government Grants—Government grants are recognized when there is reasonable assurance that the grant will be received and the Company will be in compliance with all attached conditions. When the grant relates to an expense item it is recognized as deferred income and released to the consolidated statements of operations over the period necessary to match the grant on a systematic basis to the costs that it is intended to compensate and is presented as a reduction of those costs. Where the grant relates to acquisition of assets, it is recognized as a reduction in the basis of the asset and released as a reduction to depreciation expense in equal amounts over the expected useful life of the related asset. Grants the Company received are primarily provided in connection with construction and operation of the Company’s manufacturing facilities, employment and research and development.

Research and Development Costs—Research costs are expensed as incurred. Development costs are recognized as intangible assets if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the assets.

Borrowing Costs—Borrowing costs directly attributable to the construction phase of property, plant and equipment are capitalized as part of the cost of assets which are constructed by the Company and for which a considerable period of time (at least six months) is planned for construction. Borrowing costs are capitalized from the start of construction until the date the asset is ready for its intended use. All other borrowing costs are recognized as an expense in the period in which they are incurred.

Current Income Tax—Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the balance sheet date.

Recent Accounting Pronouncements and Developments

Recent Accounting Pronouncement, Adopted:

Amendments to IFRS 7, IFRS 9 and IAS 39 Interest Rate Benchmark Reform —

Phase 1 Amendments - On 1 January 2020, the Company adopted the Phase 1 amendments arising from the Interbank Offered Rate (“IBOR”) reform amendments issued in September 2019, which provides temporary relief from applying specific hedge accounting requirements to hedge relationships directly affected by IBOR reform, such that the effect is that IBOR reform should not generally cause hedge accounting to terminate.

Phase 2 Amendments - On 1 January 2021, the Company adopted the Phase 2 amendments arising from the IBOR reform issued in August 2020. The Phase 2 amendments address issues that arise from the implementation of the IBOR reform, including the replacement of an interest rate benchmark with an alternative benchmark rate. The key reliefs provided to the Company are as follows:

•financial instruments measured at amortized cost are allowed to account for changes in the basis for determining contractual cash flows as a direct consequence of the IBOR reform by updating the effective interest rate, provided that the new basis is economically equivalent to the previous basis, such that there is no immediate gain or loss recognized; and

•most IFRS 9 hedge relationships that are directly affected by the IBOR reform are allowed to continue.

As of June 30, 2023, the Company had completed the transition of the affected rates on borrowings from USD London Interbank Offered Rate to Term Secured Overnight Financing Rate (“SOFR”) and assessed the changes to be economically equivalent in accordance with IFRS 9. Any future impact has been deemed to be immaterial to the Company.

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 but are not yet effective:

•Non-current Liabilities with Covenants - Amendments to IAS 1 - Effective for annual periods beginning on or after January 01, 2024;

•Lease Liability in a Sale and Leaseback - Amendments to IFRS 16 - Effective for annual periods beginning on or after January 01, 2024;

•Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7-Effective for annual periods beginning on or after January 01, 2024

•General Requirement for Disclosure of Sustainability-related Financial Information - IFRS S1 -Effective for annual reporting periods beginning on or after January 1, 2024; and

•Climate Related Disclosures - IFRS S2 - Effective for annual reporting periods beginning on or after January 1, 2024

As of the date the accompanying financial statements were authorized for issue, the Company continues to evaluate the impact on its financial position and performance as a result of the initial adoption of the aforementioned standards or interpretations and related applicable period. The Company does not anticipate the impacts of the standards effective for annual periods beginning on or after January 01, 2024 will have a material impact on the financial statements.

New Legislation:

In August 2022, the CHIPS and Science Act was signed into U.S. law. Designed to boost investment in domestic high tech-research and development and catalyze investment in domestic semiconductor manufacturing capacity the CHIPS and Science Act provides a 25% refundable advanced manufacturing investment tax credit (“AMITC”) on certain investment and other financial incentives to promote investments in domestic semiconductor manufacturing beginning in 2023. The Company has analyzed the provisions of the new law and determined that certain capital expenditures will qualify under the law and provide a refundable tax credit to the Company on its 2023 tax return.

In August 2022, the U.S. Inflation Reduction Act (the "IRA") was signed into law. The IRA establishes a new corporate alternative minimum tax ("CAMT") of 15% for corporations with an average global adjusted financial statement income in excess of $1 billion over a consecutive three year period, as well as a 1% excise tax on qualifying stock repurchases. The CAMT is effective for tax years beginning after December 31, 2022. The Company has estimated no tax liability relating to CAMT for the current fiscal year. It is possible that the CAMT could result in an additional tax liability in a particular year due to offsetting the U.S. tax liability with prior year losses. The Company continues to evaluate the impact the IRA may have on its operations and consolidated financial statements in future periods.

Legislation and administrative guidance continue to evolve under the Organization for Economic Co-operation and Development's ("OECD") international tax reform centering on a global minimum tax regime ("Pillar 2") effective beginning in fiscal year 2024. The Pillar 2 regime seeks to collect additional top-up taxes from multinational groups whose effective tax rates are lower than 15% at a jurisdictional level. The initiative will also trigger additional compliance obligations, such as the requirement to file an annual GloBE Information Return within 15 months of the end of the fiscal year. Pillar 2 is being accounted for under the scope of IAS 12 Income Taxes, which includes an amendment in May 2023 granting temporary relief from accounting for deferred taxes arising from jurisdictions implementing Pillar 2 minimum taxes. Under the amendment, the Company is applying the exception of neither recognizing nor disclosing deferred tax adjustments related to Pillar 2 income taxes.

The effective tax rate is computed at a jurisdictional level with reference to GloBE income for all constituent entities of the multinational group in that jurisdiction. Singapore announced in its 2024 budget that it will enact a domestic top-up tax and income inclusion rule (“IIR”) effective in 2025. The Company and its subsidiaries are considered constituent entities forming part of the multinational group led by Mubadala Diversified Global Holding, PJSC. Eligibility to safe harbor and Pillar 2 top-up taxes payable as well as Pillar 2 filing and reporting requirements by the Company are partially dependent upon and influenced by GloBE income calculations of Mubadala subsidiaries having operations in the jurisdictions in which it operates.

The Company and its subsidiaries operate in Germany, the Netherlands, France, Bulgaria, the United Kingdom, Japan, Korea and Malaysia which have enacted Pillar 2 rules in 2023, Singapore announced in its 2024 budget that it will enact domestic top-up tax and income inclusion rule effective in 2025. The Dutch IIR regime may apply to GloBE income from the United States and Germany entities in the Company’s structure but the Company continues to analyze whether a Pillar 2 income tax expense and cash tax detriment are expected to arise from the Netherlands or any other material jurisdictions in 2024. Similarly, the recently announced Singapore rules may cause an additional liability beginning in 2025. Several jurisdictions are yet to finalize their Pillar 2 implementation timeline, including the United States, India, Cayman Islands and the United Arab Emirates. The Cayman Islands and Bulgaria are jurisdictions in which the Company operates with statutory tax rates below 15% and the Company’s Singapore operations include incentive tax rates below 15% which may be more likely to result in a tax liability under Pillar 2 if transitional safe harbor rules do not apply. The Company is tracking legislative updates from these and other jurisdictions to determine if any Pillar 2 taxes may be payable in fiscal 2024.

Summary of Material Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]

Summary of property, plant and equipment

Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:


Building and leasehold/land improvements			Up to 50 years (or the remaining lease term of related land on which the buildings are erected, if shorter)
Equipment			2 to 10 years
Computers			5 years

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, 2021	$	130	$	7,576	$	22,350	$	435	$	1,423	$	31,914
Additions(1)	—		67		27		—		3,564		3,658
Transfers from construction in progress	1		409		935		21		(1,366)		—

Disposals	(8)		(182)		(725)		(17)		(237)		(1,169)
Effects of exchange rate changes	(1)		(3)		(18)		—		—		(22)
As of December 31, 2022	122		7,867		22,569		439		3,384		34,381
Additions(1)	16		121		19		4		745		905
Transfers from construction in progress	—		616		1,979		7		(2,602)		—
Disposals	—		(25)		(297)		(2)		(15)		(339)
Effect of exchange rate changes	—		2		11		—		—		13
As of December 31, 2023	$	138	$	8,581	$	24,281	$	448	$	1,512	$	34,960
Accumulated Depreciation
As of December 31, 2021	$	37	$	4,266	$	18,507	$	384	$	7	$	23,201
Additions(1)	6		443		975		23		—		1,447


Disposals	(4)		(164)		(674)		(16)		—		(858)
Effects of exchange rate changes	—		(1)		(4)		—		—		(5)
As of December 31, 2022	$	39	$	4,544	$	18,804	$	391	$	7	$	23,785
Additions(1)	5		322		976		19		—		1,322
Disposals	—		(18)		(296)		(2)		—		(316)
Effect of exchange rate changes	—		1		4		—		—		5
As of December 31, 2023	$	44	$	4,849	$	19,488	$	408	$	7	$	24,796

Net book value as of December 31, 2022	$	83	$	3,323	$	3,765	$	48	$	3,377	$	10,596

Net book value as of December 31, 2023	$	94	$	3,732	$	4,793	$	40	$	1,505	$	10,164

(1) The Company earned investment tax credits related to the Company’s construction of a wafer fabrication facility in Saratoga County, New York (which were netted against additions relating to Building and Leasehold Improvements and Equipment). These credits were generally earned based on when the related assets were placed in service. The Company recorded the investment tax credits as a reduction of property, plant and equipment costs. As of December 31, 2023, and 2022, the investment tax credits included in property, plant and equipment amounted to $226 million and $179 million, respectively.

Net Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contracts with Customers [Abstract]

Schedule of disaggregation of revenue

The following table presents the Company’s revenue disaggregated based on revenue source and timing of revenue recognition. The Company believes these categories best depict the nature and timing of revenue.


(in millions)	2023		2022		2021
Type of goods and services:
Wafer fabrication	$	6,820	$	7,627	$	6,204
Engineering and other services	572		481		381
Total	$	7,392	$	8,108	$	6,585

Timing of revenue recognition:
Revenue recognized over time	$	471	$	445	$	357
Revenue recognized at a point in time	6,921		7,663		6,228
Total	$	7,392	$	8,108	$	6,585

Other Income (Expense), Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Loss on hedging activities	$ (78)	$ 0	$ 0
Other	21	22	(8)
Total other income (expense), net	$ (57)	$ 22	$ (8)

Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2023

Related party [Abstract]

Company's which have entered into related party transaction with

The consolidated financial statements include the following subsidiaries which are all wholly owned, except for Advanced Mask Technology Centre GmbH & Co. KG, Maskhouse Building Administration GmbH & Co. KG, Advanced Mask Technology Center Verwaltungs GmbH, and Maskhouse Building Administration Verwaltungs GmbH:

Subsidiary

Jurisdiction of

Incorporation or

Organization

December 31, 2023

December 31, 2022

December 31, 2021

GLOBALFOUNDRIES Dresden Module One LLC

United States

GLOBALFOUNDRIES Dresden Module Two LLC

United States

GLOBALFOUNDRIES Innovation LLC (formerly GLOBALFOUNDRIES Innovation Investments LLC)

United States

GLOBALFOUNDRIES Investments LLC

United States

GLOBALFOUNDRIES U.S. Inc.

United States

GLOBALFOUNDRIES U.S. 2 LLC

United States

GLOBALFOUNDRIES Borrower LLC

United States

Hudson Valley Research Park Sewage Works Corporation

United States

N/A

Hudson Valley Research Park Water-Works Corporation

United States

N/A

GF Power LLC

United States

N/A

GLOBALFOUNDRIES Finance Inc.

Cayman Islands

N/A

GLOBALFOUNDRIES France SAS

France

N/A

GLOBALFOUNDRIES Dresden Module One Holding GmbH

Germany

GLOBALFOUNDRIES Dresden Module One LLC & Co. KG

Germany

GLOBALFOUNDRIES Dresden Module Two LLC & Co. KG

Germany

GLOBALFOUNDRIES Dresden Module Two Holding GmbH

Germany

GLOBALFOUNDRIES Management Services LLC & Co. KG

Germany

Advanced Mask Technology Center GmbH & Co. KG (50%)

Germany

Maskhouse Building Administration GmbH & Co. KG (50%)

Germany

Advanced Mask Technology Center Verwaltungs GmbH (50%)

Germany

Maskhouse Building Administration Verwaltungs GmbH (50%)

Germany

GLOBALFOUNDRIES Europe Sales & Support GmbH

Germany

GLOBALFOUNDRIES Engineering Private Limited

India

GLOBALFOUNDRIES Japan Ltd.

Japan

GLOBALFOUNDRIES Malaysia Sdn. Bhd.

Malaysia

N/A

GLOBALFOUNDRIES Netherlands Cooperatief U.A.

The Netherlands

GLOBALFOUNDRIES Netherlands Holding B.V.

The Netherlands

GLOBALFOUNDRIES Bulgaria EAD

Bulgaria

GF Asia Investments Pte. Ltd.

Singapore

GF Asia Sales Pte. Ltd.

Singapore

GLOBALFOUNDRIES Singapore Pte. Ltd.

Singapore

GLOBALFOUNDRIES Taiwan Ltd.

Taiwan

GLOBALFOUNDRIES Europe Ltd.

United Kingdom

GA (Chengdu) Technology Co., Limited

China

GLOBALFOUNDRIES China (Beijing) Co., Limited

China

GLOBALFOUNDRIES China (Shanghai) Co., Limited

China

Nanjing APD Technologies Co. Ltd.

China

N/A

Below are the related parties which the Company has entered into transactions with:


	December 31, 2023	December 31, 2022
Related Party Name
SMP	Joint venture	Joint venture
Mubadala Investment Company PJSC	Shareholder entity	Shareholder entity
Mubadala Technology Investment Company	Shareholder entity	Shareholder entity
MDC General Services Holding Company L.L.C	Shareholder entity	Shareholder entity

Schedule of balances with related parties included in the consolidated statements of financial position

Balances with related parties included in the consolidated statements of financial positions are as follows:


	December 31, 2023				December 31, 2022
(in millions)	Due from Related Parties		Due to Related Parties		Due from Related Parties		Due to Related Parties
SMP	$	12	$	10	$	11	$	10

Total(1)	$	12	$	10	$	11	$	10

(1)The total amounts of $12 million and $11 million due from related parties as of the years ended December 31, 2023 and 2022, respectively, have been included in receivables, prepayments and other assets (see Note 6). The total amounts of $10 million and $10 million due to related parties’ balance for the years ended December 31, 2023 and 2022, respectively, have been included in trade and other payables (see Note 11).

Schedule of related party transactions

The following table presents the related party transactions included in the consolidated statements of operations:


(in millions)	December 31, 2023		December 31, 2022		December 31, 2021
Purchases and recharges from:
SMP(1)	$	61	$	60	$	60

Total	$	61	$	60	$	60

Other transactions with:
SMP (reimbursement of expenses and contribution of tools)	$	61	$	52	$	45

MDC General Services Holding Company L.L.C (recharge of expenses)	5		—		3

Total	$	66	$	52	$	48

(1)Purchases from SMP were primarily comprised of wafers.

Schedule of compensation to key management personnel

The compensation of key management personnel during the following years were as follows:


(in millions)	2023		2022		2021
Chief Executive Officer, Chief Financial Officer, Chief Business Officer, Chief Operating Officer
Short-term benefits(1)	$	9	$	5	$	8
Share-based payments(1)	21		19		42
Board of Directors	3		5		3
Total	$	33	$	29	$	53

(1) For the year ended December 31, 2023, the amounts include short-term benefits and share-based payments for the Chief Business Officer and Chief Operating Officer.

Inventories - Summary of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventories [Abstract]
Work in progress	$ 928	$ 1,024
Raw materials and supplies	559	315
Total	$ 1,487	$ 1,339

Provisions - Movement in Provision for Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of changes in other provisions [abstract]
Provisions at beginning of period	$ 298	$ 349
Arising during the period	2	2
Accretion cost	5	(4)
Restructuring expenses	71	91
Utilized	(136)	(52)
Released to the consolidated statement of operations	0	(88)
Provisions at end of period	240	298
Provisions related to asset retirement obligations	(10)	40
Amounts paid	126	5
Provisions related to the sale of a business	$ 0	$ (7)

Related Party Disclosures

12 Months Ended

Dec. 31, 2023

Related party [Abstract]

Related Party Disclosures

Subsidiary

Jurisdiction of

Incorporation or

Organization

December 31, 2023

December 31, 2022

December 31, 2021

GLOBALFOUNDRIES Dresden Module One LLC

United States

GLOBALFOUNDRIES Dresden Module Two LLC

United States

GLOBALFOUNDRIES Innovation LLC (formerly GLOBALFOUNDRIES Innovation Investments LLC)

United States

GLOBALFOUNDRIES Investments LLC

United States

GLOBALFOUNDRIES U.S. Inc.

United States

GLOBALFOUNDRIES U.S. 2 LLC

United States

GLOBALFOUNDRIES Borrower LLC

United States

Hudson Valley Research Park Sewage Works Corporation

United States

N/A

Hudson Valley Research Park Water-Works Corporation

United States

N/A

GF Power LLC

United States

N/A

GLOBALFOUNDRIES Finance Inc.

Cayman Islands

N/A

GLOBALFOUNDRIES France SAS

France

N/A

GLOBALFOUNDRIES Dresden Module One Holding GmbH

Germany

GLOBALFOUNDRIES Dresden Module One LLC & Co. KG

Germany

GLOBALFOUNDRIES Dresden Module Two LLC & Co. KG

Germany

GLOBALFOUNDRIES Dresden Module Two Holding GmbH

Germany

GLOBALFOUNDRIES Management Services LLC & Co. KG

Germany

Advanced Mask Technology Center GmbH & Co. KG (50%)

Germany

Maskhouse Building Administration GmbH & Co. KG (50%)

Germany

Advanced Mask Technology Center Verwaltungs GmbH (50%)

Germany

Maskhouse Building Administration Verwaltungs GmbH (50%)

Germany

GLOBALFOUNDRIES Europe Sales & Support GmbH

Germany

GLOBALFOUNDRIES Engineering Private Limited

India

GLOBALFOUNDRIES Japan Ltd.

Japan

GLOBALFOUNDRIES Malaysia Sdn. Bhd.

Malaysia

N/A

GLOBALFOUNDRIES Netherlands Cooperatief U.A.

The Netherlands

GLOBALFOUNDRIES Netherlands Holding B.V.

The Netherlands

GLOBALFOUNDRIES Bulgaria EAD

Bulgaria

GF Asia Investments Pte. Ltd.

Singapore

GF Asia Sales Pte. Ltd.

Singapore

GLOBALFOUNDRIES Singapore Pte. Ltd.

Singapore

GLOBALFOUNDRIES Taiwan Ltd.

Taiwan

GLOBALFOUNDRIES Europe Ltd.

United Kingdom

GA (Chengdu) Technology Co., Limited

China

GLOBALFOUNDRIES China (Beijing) Co., Limited

China

GLOBALFOUNDRIES China (Shanghai) Co., Limited

China

Nanjing APD Technologies Co. Ltd.

China

N/A

Related parties represent associated companies, the shareholder, directors and key management personnel of the Company and entities controlled, or significantly influenced by such parties. Pricing policies and terms of these transactions are approved by the Audit Committee or the Company’s management, as applicable.

Below are the related parties which the Company has entered into transactions with:


	December 31, 2023	December 31, 2022
Related Party Name
SMP	Joint venture	Joint venture
Mubadala Investment Company PJSC	Shareholder entity	Shareholder entity
Mubadala Technology Investment Company	Shareholder entity	Shareholder entity
MDC General Services Holding Company L.L.C	Shareholder entity	Shareholder entity

Balances with related parties included in the consolidated statements of financial positions are as follows:


	December 31, 2023				December 31, 2022
(in millions)	Due from Related Parties		Due to Related Parties		Due from Related Parties		Due to Related Parties
SMP	$	12	$	10	$	11	$	10

Total(1)	$	12	$	10	$	11	$	10

The following table presents the related party transactions included in the consolidated statements of operations:


(in millions)	December 31, 2023		December 31, 2022		December 31, 2021
Purchases and recharges from:
SMP(1)	$	61	$	60	$	60

Total	$	61	$	60	$	60

Other transactions with:
SMP (reimbursement of expenses and contribution of tools)	$	61	$	52	$	45

MDC General Services Holding Company L.L.C (recharge of expenses)	5		—		3

Total	$	66	$	52	$	48

(1)Purchases from SMP were primarily comprised of wafers.

Terms and Conditions of Transactions with Related Parties

Outstanding balances at the year-end are unsecured, interest free, repayable on demand and settlement occurs in cash. The Company has not recorded any allowance relating to amounts owed by related parties for the years ended December 31, 2023 and 2022. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.

Transactions with Shareholder:

Shareholder Loan Agreement—The Company, as a borrower, entered into loan facilities with its shareholder in 2012 to 2016 (collectively the “Shareholder Loans”). The Shareholder Loans were non-interest bearing and principal repayment, in whole or in part, was entirely at the Company’s discretion as explicitly stated in the loan agreement. The Shareholder Loans were subordinated to any claims of other unsubordinated and subordinated creditors, including beneficiaries under guarantees issued, of the Company. The loans had no maturity date and remained outstanding until the loans were paid in full. Further, there were no contingent settlements in the agreements. Since the Shareholder Loans did not contain any contractual obligations to deliver cash, but rather allowed the Company to make repayment at its absolute discretion and further prohibited the shareholder from demanding repayment, the Company treated the Shareholder Loans as equity.

The Company repaid $568 million during the year ended December 31, 2021.

On October 1, 2021, the Company’s board approved the conversion of the Shareholder Loans to additional paid-in-capital, and on October 3, 2021, the Company executed an agreement with Mubadala Investment Company PJSC (“Mubadala”) to convert the remaining $10.1 billion of the Shareholder Loan balance into additional paid-in-capital (the ”Conversion”). The Conversion did not have an impact on shares outstanding or have any dilutive effects, as no additional shares were issued.

Compensation of Key Management Personnel

The compensation of key management personnel during the following years were as follows:


(in millions)	2023		2022		2021
Chief Executive Officer, Chief Financial Officer, Chief Business Officer, Chief Operating Officer
Short-term benefits(1)	$	9	$	5	$	8
Share-based payments(1)	21		19		42
Board of Directors	3		5		3
Total	$	33	$	29	$	53

(1) For the year ended December 31, 2023, the amounts include short-term benefits and share-based payments for the Chief Business Officer and Chief Operating Officer.

Receivables, Prepayments and Other Assets (Tables)

12 Months Ended

Dec. 31, 2023

Trade and other current receivables [abstract]

Schedule of accounts receivable


(in millions)	December 31, 2023		December 31, 2022
Current:
Trade receivables, other than related parties(1)	$	1,002	$	824


Other receivables	255		497
Unbilled accounts receivable(2)	33		24








Receivables from government grant	66		52
Receivables from related parties (Note 29)	12		11
Other current financial assets	52		79
Total	$	1,420	$	1,487
Non-current:
Advances to suppliers(3)	213		235
Non-trade receivables	—		10
Receivables from government grant	106		—
Payment in Lieu of Tax (“PILOT”) Bonds	—		11


Other	24		25

Total	$	343	$	281

(3)Primarily represents advances to supplier to offset against future purchases.

Schedule of unbilled accounts receivables

The following table presents the activities in unbilled accounts receivable as of December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Beginning balance	$	24	$	43
Revenue recognized during the year	101		87

Amounts invoiced	(92)		(106)

Ending balance	$	33	$	24

The following table presents the aging of accounts receivable as of December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Receivables neither past due nor impaired	$	880	$	708

Less than 30 days	114		83
31 to 60 days	4		22
61 to 90 days	4		11

Total	$	1,002	$	824

Selling, General and Administrative Expenses

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

Selling, General and Administrative Expenses


(in millions)	2023		2022		2021
Staff costs, maintenance costs, and utilities (1)	$	342	$	417	$	537
Depreciation of property, plant and equipment and amortization of intangible assets	25		45		49
Other (2)	106		34		9




Total	$	473	$	496	$	595

Other Financial Assets And Liabilities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of financial assets and liabilities [Line Items]
Other comprehensive income that will be reclassified to profit or loss, net of tax	$ (23)	$ 137	$ (54)
Cash flow hedges
Disclosure of financial assets and liabilities [Line Items]
Other comprehensive income that will be reclassified to profit or loss, net of tax	$ 15	$ 17

Government Grants

12 Months Ended

Dec. 31, 2023

Government grants [Abstract]

Government Grants

The following table presents the movement in deferred income from government grants for the years ended December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Beginning balance	$	404	$	176
Received/receivable during the period	81		270
Fair value of EDB loan	7		—
Capitalized to fixed assets	(74)		—
Released to the consolidated statements of operations	(58)		(42)
Ending balance	$	360	$	404

Current	93		110
Non-current	267		294
Total	$	360	$	404

Government grants were recognized in the consolidated statements of operations as follows:


(in millions)	December 31, 2023		December 31, 2022		December 31, 2021
Cost of revenue	$	29	$	30	$	33
Research and development expenses	29		11		—
Selling, general and administrative	—		1		—
Total balance	$	58	$	42	$	33

The Company has received government support in the form of investment grants, research and development subsidies, refundable credits, subsidized loans and miscellaneous receipts for employee support. Amounts receivable from the government but not yet received have been included in receivables, prepayments and other assets. Certain investment grants are subject to forfeiture in declining amounts over the life of the agreement if the Company does not maintain agreed upon conditions specified in the relevant grant agreements. The Company continues to comply with the government grant conditions mainly relating to qualifying property, plant and equipment and employment levels.

Long-Term Debt

12 Months Ended

Dec. 31, 2023

Borrowing costs Abstract [Abstract]

Long-Term Debt


(in millions)	December 31, 2023		December 31, 2022
Current:
Term loans	$	571	$	223
Non-current:
Term loans	1,801		2,288
Total	$	2,372	$	2,511

The above balances are net of $7 million and $12 million of unamortized debt issuance costs for the years ended December 31, 2023 and 2022, respectively.

Movements in interest bearing borrowings for the year ended December 31, 2023 and 2022 were as follows:


(in millions)	December 31, 2023		December 31, 2022
Opening balance	$	2,511	$	2,013
New loans and borrowings	46		971
Repayments	(228)		(301)
Other	43		(172)
Ending balance	$	2,372	$	2,511

Terms and Debt Repayment Schedule

The following table summarizes term loan facilities. The below arrangements are all considered to be secured.

Description

Currency

Nominal Interest
Rate

Interest

Payment

Terms

Principal

Payment

Terms

Year

Maturity

2023

Carrying

Amount

2022

Carrying

Amount

2018 Tool Equipment Purchase and Lease Financing(1)

USD

SOFR + 1.60%

Quarterly

2023

—

2019 Tool Equipment Purchase and Lease Financing(2)

USD

SOFR + 1.75%

Quarterly

2024

USD Term Loan A

USD

SOFR + 2.90%

Quarterly

Semi-Annual

2025

—

EUR Term Loan A

EUR

EURIBOR + 2.60%

Quarterly

Semi-Annual

2025

—

2019 USD Dresden Equipment Financing(3)

USD

SOFR + 1.75%

Semi- Annual

Semi-Annual

2026

2020 USD Equipment Financing(4)

USD

SOFR + 1.90%

Quarterly

2025

2019 EUR Dresden Equipment Financing(3)

EUR

EURIBOR + 1.75%

Semi- Annual

Semi-Annual

2024

368

Various

EUR, USD

Various

2024-2026

Current total

571

223

Non-current:

2019 Tool Equipment Purchase and Lease Financing(2)

USD

SOFR + 1.75%

Quarterly

2024

—

2019 USD Dresden Equipment Financing(3)

USD

SOFR + 2.25%

Semi-Annual

2026

108

2020 USD Equipment Financing(4)

USD

SOFR + 1.90%

Quarterly

2025

USD Term Loan A

USD

SOFR + 2.90%

Quarterly

Semi-Annual

2025

586

649

EUR Term Loan A

EUR

EURIBOR + 2.60%

Quarterly

Semi-Annual

2025

2019 EUR Dresden Equipment Financing(3)

EUR

EURIBOR + 2.25%

Semi-Annual

2026

387

2021 SGD EDB Loan

SGD

1.40%

Semi-Annual

2041

987

923

Various

EUR, USD

Various

2024-2027

Non-current total

1,801

2,288

Total

2,372

2,511

2021 SGD EDB Loan—On September 3, 2021, the Company entered into a loan agreement with Singapore Economic Development Board (“EDB”), which provided loan facilities with maximum drawdown of $1,149 million (SGD 1,541 million) at a fixed nominal interest rate of 1.4%. The difference between the nominal interest rate of the loan and the market interest rate for an equivalent loan is recognized as a government grant. The loan matures on June 1, 2041, with interest-only payments for the first 5 years and principal repayments commence thereafter, payable on a semi-annual basis.

As of December 31, 2023, the Company’s total drawdown was $1.1 billion, of which $971 million was drawn down in 2022.

As of December 31, 2023 and 2022, $987 million and $923 million respectively, were recorded in long-term debt based on an effective interest rate of 3.20% and $179 million and $184 million respectively, were recorded in deferred income from government grants.

5-year Revolving and Letter of Credit Facilities Agreement—On October 13, 2021, the Company entered into an amendment to the 5-year Revolving and Letter of Credit Facilities Agreement to increase the commitment to $1.0 billion.

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


(in millions)	December 31, 2023		December 31, 2022
SGD EDB Loan	$	—	$	42
Revolving Credit Facility	1,012		1,012

Uncommitted Credit Facilities(1)	46		64




Total	$	1,058	$	1,118

(1) Credit facility made available to the Company, but the lender is not obligated to loan funds.

Assets pledged as security— Various assets have been pledged to secure borrowings under pledged agreements for the Company. Cash and cash equivalents, trade accounts receivables, property, plant and equipment, inventories, and financial assets have been pledged to secure borrowings under pledged agreements for the Company. The Company is not allowed to pledge these assets as security for other borrowings or to sell them outside normal course of business.

Operating Segments Information - Revenue by Geography (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of geographical areas [line items]
Revenue	$ 7,392	$ 8,108	$ 6,585
United States of America
Disclosure of geographical areas [line items]
Revenue	4,262	4,898	3,975
Europe, the Middle East, and Africa
Disclosure of geographical areas [line items]
Revenue	1,533	1,182	805
Other
Disclosure of geographical areas [line items]
Revenue	$ 1,597	$ 2,028	$ 1,805

Gain on Sale of a Business (Tables)

12 Months Ended

Dec. 31, 2023

Non-Current Asset Held For Sale And Discontinued Operations [Abstract]

Schedule of sale of facility and business

The following is the breakdown of the net liabilities that were derecognized:


(in millions)	December 31, 2022
Property, plant and equipment	$	83
Inventories	43

Total Assets	126
Lease liabilities	(47)
Other current and non-current liabilities	(88)

Total Liabilities	(135)
Net Liabilities	$	(9)

Critical Accounting Judgements, Estimates, and Assumptions	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Changes in estimates	Critical Accounting Judgements, Estimates and Assumptions The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses as well as the disclosure of commitments and contingencies. Actual results may differ from these estimates and such differences may be material to the consolidated financial statements. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the year in which the estimate is revised if the revision affects only that year, or in the year of the revision and future years if the revision affects both current and future years. Determination of useful lives of property, plant and equipment—The Company periodically assesses 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 income before income taxes of $76 million for the year ended December 31, 2023. Inventory Valuation—Inventory is based on a standard cost process with appropriate adjustments for purchasing and manufacturing variances, which approximates weighted average cost. The cost of raw materials is determined using applicable raw material purchase prices. The cost of supplies is determined based on a weighted-average cost formula. Work in process and finished goods are valued at the cost of direct materials and a proportion of manufacturing labor and overhead costs based on normal operating capacity. Inventory allowances are made on an item-by-item basis, except where it may be appropriate to group similar or related items. An allowance is made for the estimated losses due to obsolescence based on expected future demand and market conditions. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale. Impairment Assessment of Non-Financial Assets—Impairment exists when the carrying value of an asset or CGU exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs to sell calculation is based on a discounted cash flow analysis that a potential buyer would perform in determining a transaction value of the CGU less incremental costs for disposing of the asset. The value in use calculation is based on a discounted cash flow model. When preparing the discounted cash flow analysis, the Company makes judgments in determining the independent cash flows that can be related to a specific CGU based on its asset usage model and manufacturing capabilities in addition to the discount rate used in the analysis. In addition, because judgments are made regarding the remaining useful lives of assets and expected future revenue and expenses associated with the assets, changes in these estimates based on changes in economic conditions or business strategies could result in material impairment charges in future periods. Income Taxes and Realization of Deferred Tax Assets—In determining taxable income for financial statement reporting purposes, management makes certain estimates and judgments specific to taxation issues. These estimates and judgments are applied in the calculation of certain tax liabilities and in the determination of the recoverability of deferred tax assets, which arise from temporary differences between the recognition of assets and liabilities for income tax and financial statement reporting purposes. Deferred taxes are recognized for unused losses, among other factors, to the extent that it is probable that taxable profit will be available against which the losses can be utilized. This evaluation requires the exercise of judgment with respect to, among other things, benefits that could be realized from available tax strategies and future taxable income, as well as other positive and negative factors. The ultimate realization of deferred tax assets is dependent upon, among other things, the Company’s ability to generate future taxable income that is sufficient to utilize loss carry-forwards or tax credits before their expiration or the Company’s ability to implement prudent and feasible tax planning strategies. If estimates of projected future taxable income and benefits from available tax strategies are reduced as a result of a change in the assessment or due to other factors, or if changes in current tax regulations are enacted that impose restrictions on the timing or extent of the Company’s ability to utilize net operating losses and tax credit carry-forwards in the future, the Company may be required to reduce the amount of total deferred tax assets resulting in a decrease of total assets. Likewise, a change in the tax rates applicable in the various jurisdictions or unfavorable outcomes of any ongoing tax audits could have a material impact on the future tax provisions in the periods in which these changes could occur. In addition, the calculation of tax liabilities involves dealing with uncertainties in the application of complex tax rules and the potential for future adjustment of uncertain tax positions by the tax authorities in the countries in which the Company operates. If estimates of these taxes are greater or less than actual results, an additional tax benefit or charge may result. Share-based compensation—Share-based compensation expense is recognized based on the grant date fair value of the awards. The fair value of Restricted Share Units (“RSUs”) is determined based on the closing price of the ordinary stock on the date of grant. The fair value of stock options is estimated using the Black-Scholes option pricing model for options. The fair value of Performance Share Units (“PSUs”) is estimated using a Monte Carlo simulation. Both models require management to make certain assumptions of future expectations based on historical and current data. The assumptions include the estimated fair value of the Company’s stock, expected term of the awards, expected volatility, dividend yield, and risk-free interest rate. These estimates involve inherent uncertainties and the application of management’s judgment. The principles of modification accounting are applied when a new share-based payment is granted as a replacement for another share-based payment that is cancelled. When modification accounting is applied, the entity accounts for any incremental fair value in addition to the grant-date fair value of the original award. In the case of a replacement, the incremental fair value is the difference between the fair value of the replacement award and the net fair value of the cancelled award, both measured at the date on which the replacement award is issued. The net fair value is the fair value of the cancelled award measured immediately before the cancellation, less any payment made to the employees on cancellation. A package of modifications might include several changes to the terms of a grant, some of which are favorable to the employee and some not. In the event the net effect is not beneficial to the employee, cancellation accounting will be applied. Cancellations or settlements of equity-settled share-based payments during the vesting period by the Company are accounted for as accelerated vesting; therefore, the amount that would otherwise have been recognized for services received is recognized immediately. In September 2023, the people and compensation committee of GlobalFoundries approved a modification to the 2023 PSUs, to adjust the return on invested capital (“ROIC”) performance threshold. The modification did not increase the fair value of the 2023 PSUs as the non-market performance condition was not considered when determining the fair value on the modification date. The Company will cumulatively adjust the expense based on the number of shares probable of vesting based on ROIC metrics and the grant date fair value.

Summary of Material Accounting Policies - Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2023
Minimum
Disclosure of changes in accounting estimates [line items]
Useful life (in years)	3 years
Maximum
Disclosure of changes in accounting estimates [line items]
Useful life (in years)	10 years

Financial Risk Management Objectives and Policies (Tables)

12 Months Ended

Dec. 31, 2023

Financial Instruments [Abstract]

Disclosure of derivative financial liabilities

The Company’s exposure to foreign currency risk against financial assets and financial liabilities was as follows, based on notional amounts:


(in millions)	EUR		JPY		SGD
December 31, 2022
Receivables and prepayments	$	120	$	—	$	16
Cash and cash equivalents	48		4		420
Loans and borrowings	45		—		—
Trade and other payables	(388)		(73)		(149)

	$	(175)	$	(69)	$	287
December 31, 2023
Receivables and prepayments	$	86	$	—	$	28
Cash and cash equivalents	$	104	$	5	$	19
Loans and borrowings	$	11	$	—	$	—
Trade and other payables	$	(253)	$	(97)	$	(121)

	$	(52)	$	(92)	$	(74)

Disclosure of maturity analysis for derivative financial liabilities

The aging of financial assets including trade receivables is as follows:


					Past Due but Not Impaired
(in millions)	Total		Neither past Due Nor Impaired		< 30 Days		31-90 Days		91-120 Days		Great than 120 days
December 31, 2022	$	2,254	$	2,137	$	84	$	33	$	—	$	—
December 31, 2023	$	2,785	$	2,651	$	127	$	7	$	—	$	—

The table below summarizes the maturity profile of the Company’s financial liabilities:


(in millions)	Carrying Value		Contractual Cash Flows		1 Year or Less		1 to 5 Years		Greater than 5 Years
December 31, 2022
Loans and borrowings	$	2,511	$	2,706	$	229	$	1,443	$	1,034
Lease obligations	345		427		92		184		151
Derivative liabilities	66		66		61		5		—
Trade payables and other liabilities	2,265		2,265		2,171		63		31
Total	$	5,187	$	5,464	$	2,553	$	1,695	$	1,216
December 31, 2023
Loans and borrowings	$	2,372	$	2,558	$	575	$	971	$	1,012
Lease obligations	382		521		44		194		283
Derivative liabilities	56		56		42		14		—
Trade payables and other liabilities	1,438		1,438		1,354		55		29
Total	$	4,248	$	4,573	$	2,015	$	1,234	$	1,324

Disclosure of fair value measurement of assets

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


	Fair Value Measurement at Reporting Date Using

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

Cash equivalents(1)	$	961	$	961	$	—	$	—



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

Investment in marketable securities(3)	$	994	$	994	$	—	$	—



Derivatives(3)	$	177	$	—	$	177	$	—

Liabilities:




Derivatives(3)	$	66	$	—	$	66	$	—


	Fair Value Measurement at Reporting Date Using

(in millions)	Total		Quoted Prices Identical Assets/ Liabilities (Level 1)		Significant Other Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2023
Assets:

Cash equivalents (1)	$	1,897	$	1,626	$	271	$	—

Investments in equity instruments (2)	$	19	$	—	$	—	$	19

Investments in marketable securities(3)	$	1,501	$	1,189	$	312	$	—

Derivatives(4)	$	132	$	—	$	132	$	—

Liabilities:






Derivatives(4)	$	56	$	—	$	56	$	—

(1)Included in cash and cash equivalents on the Company’s consolidated statements of financial position.

(2)Included in current and non-current receivables, prepayments and other assets on the Company’s consolidated statements of financial position.

(3)Included in current and non-current marketable securities on the Company’s consolidated statements of financial position.

(4)Consists of foreign currency forward contracts, interest rate swaps, cross currency swaps and commodity swaps. Included in other current and non-current financial assets and liabilities, as applicable, on the Company’s consolidated statements of financial position.

Disclosure of financial assets

The following table shows the carrying and fair values of the Company’s financial liabilities at amortized cost (“FLAC”) not recorded at fair value on a recurring basis. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.


(in millions)		December 31, 2023				December 31, 2022
Financial Liability	Category	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Other long-term debt	FLAC	$	2,372	$	2,319	$	2,511	$	2,414
Total		$	2,372	$	2,319	$	2,511	$	2,414

Customer And Supplier Concentration (Tables)

12 Months Ended

Dec. 31, 2023

Financial Instruments [Abstract]

Disclosure of major customers


	For the year ended December 31,
Revenue by major customer	2023			2022			2021
(in millions)	Amount		%	Amount		%	Amount		%
Customer A	$	620	8	$	746	9	$	811	12
Customer B	$	1,279	17	$	1,329	16	$	995	15

Customer And Supplier Concentration

12 Months Ended

Dec. 31, 2023

Financial Instruments [Abstract]

Customer And Supplier Concentration

Significant customers and suppliers are those that account for greater than 10% of the Company’s revenue and purchases in any of the years presented.

The Company earned a substantial portion of revenue from two customers in 2023 , 2022 and 2021: Customer A amounted to 8%, 9% and 12% of total revenue, respectively, and Customer B amounted to 17%, 16%, and 15% of total revenue, respectively. As of December 31, 2023 and 2022, the amounts due from Customer A included in accounts receivable were $122 million and $71 million, respectively, and the amounts due from Customer B included in accounts receivable were $237 million and $163 million, respectively. The loss of the significant customers or the failure to attract new customers could have a material adverse effect on the Company’s business, results of operations and financial condition.


	For the year ended December 31,
Revenue by major customer	2023			2022			2021
(in millions)	Amount		%	Amount		%	Amount		%
Customer A	$	620	8	$	746	9	$	811	12
Customer B	$	1,279	17	$	1,329	16	$	995	15

The Company purchased 63%, 54% and 46%, of its SOI wafers, a key input into its products, from a single supplier in 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, the net amount due to the supplier was $61 million and $56 million, respectively. Any failure in the supplier’s ability to provide SOI wafers could materially and adversely affect the Company’s results of operations, financial condition, business and prospects.

Commitments and Contingencies - Unconditional Purchase Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Provisions, Contingent Liabilities, and Contingent Assets [Abstract]
Contracts for capital expenditures	$ 1,136	$ 2,774
Contracts for operating expenditures	2,786	3,587
Total	3,922	6,361
Due within the next 12 months	$ 970	$ 2,732

Gain on Sale of a Business - Schedule of Net Assets Derecognized (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of analysis of single amount of discontinued operations [line items]
Total Assets	$ 18,044	$ 17,841
Lease liabilities	(382)	(345)
Total Liabilities	$ (6,893)	(7,881)
Discontinued Operations - Tampines, Singapore Facility
Disclosure of analysis of single amount of discontinued operations [line items]
Property, plant and equipment		83
Inventories		43
Total Assets		126
Lease liabilities		(47)
Other current and non-current liabilities		(88)
Total Liabilities		(135)
Net Liabilities		$ (9)

Research and Development Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Staff costs, maintenance costs, and utilities	$ 230	$ 247	$ 257
Depreciation of property, plant and equipment and amortization of intangible assets	119	110	147
Other	79	125	74
Research and development expense	428	482	478
Staff, maintenance, and utility costs	$ 25	$ 27	$ 22

Income Taxes - Reconciliation of income tax expense applying statutory tax and effective tax rates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income taxes [Abstract]
Income (Loss) before income taxes	$ 1,084	$ 1,532	$ (176)
Tax at Enacted Statutory Rate	0	0	0
Foreign tax rate differential	(65)	(98)	(75)
Adjustments in respect to current income tax of previous years	(1)	(5)	(1)
Government grants exempt from tax	7	7	5
Deductible expense for tax purpose	(2)	0	(1)
Impact of unrecognized deferred tax assets	(20)	57	9
Non-deductible expenses for tax purposes	0	(21)	(4)
Effects of foreign exchange gains (loss)	10	(14)	(22)
Impact of change in liability for uncertain tax positions	3	1	7
Withholding Tax	0	(11)	0
Other effects	2	(2)	4
Income tax (expense) benefit	$ (66)	$ (86)	$ (78)
Effective income tax rate	(6.10%)	(5.60%)	44.30%

Leases - Additional Information about Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Leases [Abstract]
Amortization of right-of-use assets	$ 57	$ 82
Interest expense on lease liabilities	21	23	$ 27
Short-term and low-value leases expense	0	1
Total net lease cost	$ 78	$ 106
Weighted average remaining lease term	12 years 4 months 24 days	7 years 2 months 4 days
Weighted average discount rate	5.16%	4.75%

Gain on Sale of a Business

12 Months Ended

Dec. 31, 2023

Non-Current Asset Held For Sale And Discontinued Operations [Abstract]

Gain on Sale of a Business

In April 2019, the Company entered into an Asset Purchase Agreement with ON Semiconductor pursuant to which the Company agreed to transfer substantially all the assets and employees related to the EFK business. On December 31, 2022, the Company completed the sale of the EFK business for a total purchase price of $406 million, of which $170 million was received in prior years, and the remaining $236 million was received in January 2023. The Company recognized a gain upon the completion of the sale of $403 million after derecognition of net liabilities of $9 million.

The following is the breakdown of the net liabilities that were derecognized:


(in millions)	December 31, 2022
Property, plant and equipment	$	83
Inventories	43

Total Assets	126
Lease liabilities	(47)
Other current and non-current liabilities	(88)

Total Liabilities	(135)
Net Liabilities	$	(9)

Cash And Cash Equivalents - Reconciliation of Assets and Liabilities Arising from Financing Activities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Changes in liabilities arising from financing activities [abstract]
Liabilities arising from financing activities at beginning of period	$ (26,646)	$ (25,890)
Cash Flows (Inflows)/ Outflows	212	(842)
Addition	(111)	(6)
Foreign exchange movement	(33)	18
Others	(41)	74
Liabilities arising from financing activities at end of period	(26,619)	(26,646)
Cash and cash equivalents	2,387	2,352	$ 2,939	$ 908
Debt
Changes in liabilities arising from financing activities [abstract]
Liabilities arising from financing activities at beginning of period	(2,511)	(2,013)
Cash Flows (Inflows)/ Outflows	182	(670)
Addition	(17)	(6)
Foreign exchange movement	(30)	10
Others	4	168
Liabilities arising from financing activities at end of period	(2,372)	(2,511)
Lease obligations
Changes in liabilities arising from financing activities [abstract]
Liabilities arising from financing activities at beginning of period	(345)	(426)
Cash Flows (Inflows)/ Outflows	77	89
Addition	(117)	(18)
Foreign exchange movement	(5)	9
Others	8	1
Liabilities arising from financing activities at end of period	(382)	(345)
Share capital
Changes in liabilities arising from financing activities [abstract]
Liabilities arising from financing activities at beginning of period	(11)	(11)
Liabilities arising from financing activities at end of period	(11)	(11)
Additional Paid-In Capital
Changes in liabilities arising from financing activities [abstract]
Liabilities arising from financing activities at beginning of period	(23,831)	(23,487)
Cash Flows (Inflows)/ Outflows	(42)	(168)
Others	(154)	(176)
Liabilities arising from financing activities at end of period	(24,027)	(23,831)
Restricted cash
Changes in liabilities arising from financing activities [abstract]
Assets arising from financing activities at beginning of period	1	1
Assets arising from financing activities at end of period	1	1
Government grants receivable
Changes in liabilities arising from financing activities [abstract]
Assets arising from financing activities at beginning of period	52	47
Cash Flows (Inflows)/ Outflows	(5)	(93)
Addition	23	18
Foreign exchange movement	1	(1)
Others	101	81
Assets arising from financing activities at end of period	172	52
Cash and cash equivalents	172	52
Other receivables
Changes in liabilities arising from financing activities [abstract]
Assets arising from financing activities at beginning of period	(1)
Liabilities arising from financing activities at beginning of period		(1)
Foreign exchange movement	$ 1
Assets arising from financing activities at end of period		$ (1)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of cash flows [abstract]
Interest paid	$ 121	$ 96	$ 101
Interest received	123	32	1
Income taxes paid, classified as operating activities	$ 11	$ 4	$ 7

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2023
Corporate information and statement of IFRS compliance [abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company have been presented in United States (“U.S.”) dollars, and prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These financial statements have been prepared on the historical cost basis except as otherwise described in the notes below. Basis of Consolidation—The consolidated financial statements comprise the financial statements of GLOBALFOUNDRIES and its subsidiaries. Subsidiaries are fully consolidated from the date of acquisition, being the date on which GLOBALFOUNDRIES obtains control, and continue to be consolidated until the date when such control ceases. All intercompany transactions, balances, income and expenses are eliminated in full on consolidation. Wholly-owned subsidiaries and controlled entities included in these consolidated financial statements are disclosed in Note 29. Control is achieved when the Company is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary. Specifically, the Company controls a subsidiary if the Company (a) has power over the subsidiary, (b) is exposed, or has rights, to variable returns from its involvement with subsidiary, and (c) has the ability to use the power to affect its returns. Profit or loss and each component of other comprehensive income (loss) (“OCI”) are attributed to the Shareholder of the Company and to the non-controlling interests. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Company loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resulting gain or loss is recognized in the consolidated statements of operations. Any investment retained is recognized at fair value. Foreign Currency Translation—Assets and liabilities of foreign operations having a functional currency other than the U.S. dollar are translated at the rate of exchange prevailing at the reporting date and revenue and expenses at the rate of exchange prevailing at the dates of the transactions during the period. Gains or losses on translation of foreign operations are included in OCI. In preparing the consolidated financial statements of the Company, foreign currency-denominated monetary assets and liabilities are translated into the functional currency using the closing rate at the applicable consolidated statement of financial position dates. Non-monetary assets and liabilities, denominated in a foreign currency and measured at fair value, are translated at the rate of exchange prevailing at the date when the fair value was determined and non-monetary assets measured at historical cost are translated at the historical rate. Revenue and expenses are measured in the functional currency at the rates of exchange prevailing at the dates of the transactions with gains or losses included in the statements of operations.

CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of comprehensive income [abstract]
Net income (loss) for the year	$ 1,018	$ 1,446	$ (254)
Attributable to:
Shareholder of GLOBALFOUNDRIES INC.	1,020	1,448	(250)
Non-controlling interest	(2)	(2)	(4)
Net income (loss) for the year	1,018	1,446	(254)
Items that may be reclassified subsequently to profit or loss:
Share of foreign exchange fluctuation reserve of joint ventures	14	(23)	(12)
Effective portion of changes in the fair value of cash flow hedges	(27)	187	(45)
Fair value gain (loss) on investments measured at fair value through other comprehensive income	9	(9)	0
Income tax effect	(19)	(18)	3
Total other comprehensive income that will be reclassified to profit or loss, net of tax	(23)	137	(54)
Attributable to:
Shareholders of GLOBALFOUNDRIES INC.	(25)	146	(50)
Non-controlling interests	2	(9)	(4)
Total other comprehensive income (loss) for the year	(23)	137	(54)
Total comprehensive income (loss)
Shareholders of GLOBALFOUNDRIES INC.	995	1,594	(300)
Non-controlling interests	0	(11)	(8)
Total comprehensive income (loss) for the year	$ 995	$ 1,583	$ (308)

Financial Risk Management Objectives and Policies - Foreign Currency Risk Exposure (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of nature and extent of risks arising from financial instruments [line items]
Cash and cash equivalents	$ 2,387	$ 2,352	$ 2,939	$ 908
Currency risk \| Eurodollar [Member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Prepayments And Other Current Assets	86	120
Cash and cash equivalents	104	48
Loans and borrowings	11	45
Trade and other payables	(253)	(388)
Total financial liabilities	(52)	(175)
Currency risk \| Japan, Yen
Disclosure of nature and extent of risks arising from financial instruments [line items]
Prepayments And Other Current Assets	0	0
Cash and cash equivalents	5	4
Loans and borrowings	0	0
Trade and other payables	(97)	(73)
Total financial liabilities	(92)	(69)
Currency risk \| Singapore, Dollars
Disclosure of nature and extent of risks arising from financial instruments [line items]
Prepayments And Other Current Assets	28	16
Cash and cash equivalents	19	420
Loans and borrowings	0	0
Trade and other payables	(121)	(149)
Total financial liabilities	$ (74)	$ 287

Long-Term Debt - Movements in Interest bearing Borrowings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Borrowing costs Abstract [Abstract]
Opening balance	$ 2,511	$ 2,013
New loans and borrowings	46	971
Repayments	(228)	(301)
Other	43	(172)
Ending balance	$ 2,372	$ 2,511

Other Financial Assets And Liabilities - Effect of Derivatives on Statements of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedging instruments [line items]
Amount of Gains (Losses) Recognized in Income on Derivative	$ (24)	$ (22)
Foreign currency forwards
Disclosure of detailed information about hedging instruments [line items]
Amount of Gains (Losses) Recognized in Income on Derivative	(16)	$ (22)	$ (17)
Commodity swaps
Disclosure of detailed information about hedging instruments [line items]
Amount of Gains (Losses) Recognized in Income on Derivative	$ (8)

Net Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contracts with Customers [Abstract]

Net Revenue


(in millions)	2023		2022		2021
Type of goods and services:
Wafer fabrication	$	6,820	$	7,627	$	6,204
Engineering and other services	572		481		381
Total	$	7,392	$	8,108	$	6,585

Timing of revenue recognition:
Revenue recognized over time	$	471	$	445	$	357
Revenue recognized at a point in time	6,921		7,663		6,228
Total	$	7,392	$	8,108	$	6,585

The Company recognizes revenue when wafers are transferred to the customer, which is determined to be at the point of wafer shipment from the Company’s facilities or delivery to the customer location, as determined by the agreed shipping terms.

The Company’s remaining performance obligations that are completely or partially unsatisfied as of December 31, 2023, was approximately $20 billion pertaining to wafer products under certain long-term supply arrangements with customers. The Company recognizes revenue as the wafer products are shipped based on the agreed shipping terms. Generally, the amount and timing of recognition of the remaining performance obligations are subject to change and are affected by several factors, including terminations, subsequent modifications in the scope of contracts, and uncertainty in meeting volume commitments. Based on the current terms of the contracts, these performance obligations are expected to be substantially satisfied within the next five years.

Long-Term Debt - Schedule of Noncurrent and Current Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Current portion of long-term debt	$ 571	$ 223
Non-current:
Non-current portion of long-term debt	1,801	2,288
Total	$ 2,372	$ 2,511	$ 2,013

Cost of Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contracts with Customers [Abstract]

Cost of Revenue


(in millions)	2023		2022		2021

Depreciation of property, plant and equipment and amortization of intangible assets (1)	$	1,321	$	1,468	$	1,422
Inventory changes materials costs and other	1,742		1,834		1,726
Staff costs, maintenance costs, and utilities(2)	2,228		2,567		2,424






Total	$	5,291	$	5,869	$	5,572

(1)Amounts are net of amortization of government grants relating to assets. See Note 8 for the detailed movements of property, plant and equipment.

Other Financial Assets And Liabilities - Effect on Financial Statements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Foreign currency forwards
Disclosure of detailed information about hedging instruments [line items]
Amount of Gains (Losses) Recognized in Accumulated OCI on Derivatives (effective Portion)	$ 17	$ (105)
Amount of Gains (Losses) Reclassified from Accumulated OCI to cost of Property, Plant and Equipment	(17)	(93)
Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)	34	(76)
Amount of Gain (Losses) Reclassified into Income (Missed Forecast)	0	0
Amount of Gain (Losses) Recognized into Income (Ineffective Portion)	0	(5)
Interest rate swaps
Disclosure of detailed information about hedging instruments [line items]
Amount of Gains (Losses) Recognized in Accumulated OCI on Derivatives (effective Portion)	8	55
Amount of Gains (Losses) Reclassified from Accumulated OCI to cost of Property, Plant and Equipment	0	0
Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)	28	6
Amount of Gain (Losses) Reclassified into Income (Missed Forecast)	0	0
Amount of Gain (Losses) Recognized into Income (Ineffective Portion)	0	0
Cross currency swaps and cross currency interest rate swaps
Disclosure of detailed information about hedging instruments [line items]
Amount of Gains (Losses) Recognized in Accumulated OCI on Derivatives (effective Portion)	31	72
Amount of Gains (Losses) Reclassified from Accumulated OCI to cost of Property, Plant and Equipment	0	0
Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)		0
Amount of Gain (Losses) Reclassified into Income (Missed Forecast)		0
Amount of Gain (Losses) Recognized into Income (Ineffective Portion)	(4)	4
Cross currency swaps and cross currency interest rate swaps \| Finance expense
Disclosure of detailed information about hedging instruments [line items]
Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)	6
Amount of Gain (Losses) Reclassified into Income (Missed Forecast)	0
Cross currency swaps and cross currency interest rate swaps \| Other income (expense)
Disclosure of detailed information about hedging instruments [line items]
Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)	31
Amount of Gain (Losses) Reclassified into Income (Missed Forecast)	0
Commodity swaps
Disclosure of detailed information about hedging instruments [line items]
Amount of Gains (Losses) Recognized in Accumulated OCI on Derivatives (effective Portion)	(32)	(5)
Amount of Gains (Losses) Reclassified from Accumulated OCI to cost of Property, Plant and Equipment	0	0
Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)		26
Amount of Gain (Losses) Reclassified into Income (Missed Forecast)		0
Amount of Gain (Losses) Recognized into Income (Ineffective Portion)	0	$ (8)
Commodity swaps \| Other income (expense)
Disclosure of detailed information about hedging instruments [line items]
Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)	0
Amount of Gain (Losses) Reclassified into Income (Missed Forecast)	(13)
Commodity swaps \| Cost of revenue and operating expenses
Disclosure of detailed information about hedging instruments [line items]
Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)	(4)
Amount of Gain (Losses) Reclassified into Income (Missed Forecast)

Share-Based Compensation - Narrative (Details) $ / shares in Units, yr in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2021 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($) yr $ / shares	Dec. 31, 2017	Dec. 31, 2020 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment expenses		$ 1	$ 7	$ 63
Additional-paid in capital		11,151	9,960	8,033			$ 7,241
Expense from share-based payment transactions with employees		$ 96	92	152
Share-based payment arrangement, performance period (in years)		3 years
Term (in years)		10 years
Additional Paid-In Capital
Disclosure of terms and conditions of share-based payment arrangement [line items]
Additional-paid in capital		$ 24,027	23,831	23,487			$ 11,707
Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment arrangement, vesting percentage		0.00%
Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment arrangement, vesting percentage		200.00%
Share Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment expenses		$ 148	173	223
Expense from share-based payment transactions with employees		$ 21	$ 10	5
Lookback period (in years)		2 years 10 months 2 days	2 years 8 months 26 days
Exercise price of outstanding share options (in dollars per share) \| $ / shares					$ 10.00
Fair value of options	$ 39				$ 64
Weighted average remaining contractual life (in years)	10 years
Share Options \| Additional Paid-In Capital
Disclosure of terms and conditions of share-based payment arrangement [line items]
Additional-paid in capital		$ 46	$ 163
Share Options \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)					4 years
Share Options \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)					5 years	5 years
Granted (in shares) \| yr					25
Share Incentive Plan 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share options available for future grant (in shares) \| shares		3,485,505	2,826,758
Equity Compensation Plan 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share options available for future grant (in shares) \| shares		17,011,837	13,648,116
RSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting percentage		33.33%
Vesting period (in years)		1 year
Unrecognized compensation costs		$ 107	$ 88	$ 26
Performance Share Units (PSU)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Unrecognized compensation costs		$ 22	$ 24
Employee Stock Purchase Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Matching contribution (as a percent)		20.00%
Shares available (in shares) \| shares		7,500,000
Commencement period (in years)		8 years
Annual increase percentage		0.25%
Maximum grant limit (in shares) \| shares		18,750,000
Shares issued (in shares) \| shares		620,481
Employee Share Purchase Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted (in shares) \| shares		50
Employee subscription rate (as a percent)		10.00%
Maximum employee subscription (in shares) \| shares		2,500
Matching contribution (as a percent)		20.00%

Property, Plant and Equipment - Schedule of Depreciation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expense	$ 1,322	$ 1,447	$ 1,411
Cost of revenue
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expense	1,259	1,377	1,309
Research and development expenses
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expense	38	40	73
Selling, general and administrative expenses
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation expense	$ 25	$ 30	$ 29

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

Earnings Per Share

Basic and diluted earnings (loss) per share has been calculated for the years ended December 31, 2023, 2022, and 2021 as follows:


(in millions except per share amounts)	2023		2022		2021

Net income (loss) attributable to equity shareholders of the Company	$	1,020	$	1,448	$	(250)

Weighted average ordinary shares outstanding
Basic	552		539		506
Diluted	556		552		506
Total basic and diluted earnings per share attributable to equity shareholders
Basic	$	1.85	$	2.69	$	(0.49)
Diluted	$	1.83	$	2.62	$	(0.49)

For the years ended December 31, 2023, 2022 and 2021, there were 1 million, 6 million and 22 million share options outstanding, respectively. Share options for the years ended December 31, 2023, 2022 and 2021 were not included in the calculation of diluted earnings per share as their inclusion would have been anti-dilutive.

Financial Risk Management Objectives and Policies

12 Months Ended

Dec. 31, 2023

Financial Instruments [Abstract]

Financial Risk Management Objectives and Policies

GLOBALFOUNDRIES has implemented a cash investment policy which determines the overall objectives of the Company’s investment strategy. This policy is aimed to ensure the preservation of capital and the maintenance of sufficient liquidity necessary to fund operations while balancing the needs for appropriate returns. The cash investment policy limits permissible investments and credit quality.

The primary objective of the Company’s capital management is to ensure that it maintains a healthy capital ratio in order to support its business and maximize shareholder value.

The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions. There are no regulatorily-imposed requirements on the level of share capital which the Company is required to maintain.

The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company’s policy is to keep the gearing ratio within a range to meet the business needs of the Company.

The Company includes within net debt, interest bearing loans and borrowings and obligations under lease less bank balances, cash and marketable securities. Capital includes total equity including non-controlling interests less cumulative changes in fair value.

The Company’s interest-bearing loans and borrowings have certain financial covenants. Restrictive covenants in the Company’s credit facilities may prevent the Company from pursuing certain transactions or business strategies, including by limiting the Company’s ability to, in certain circumstances:

•incur additional indebtedness;

•pay dividends or make distributions;

•acquire assets or make investments outside of the ordinary course of business;

•sell, lease, license, transfer or otherwise dispose of assets;

•enter into transactions with the affiliates;

•create or permit liens;

•guarantee indebtedness; and

•engage in certain extraordinary transactions.

As of December 31, 2023, the Company is in compliance with the financial covenants.

Risks Arising from Financial Instruments—The main risks arising from the Company’s financial instruments are market risk (including foreign currency risk, interest rate risk and commodity price risk), credit risk and liquidity risk. The Board of Directors reviews and approves policies for managing each of these risks which are summarized below.

Market Risk—Market price risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market prices comprise the following types of risk: interest rate risk, foreign currency risk and commodity price risk.

Commodity Risk— Although the Company operates facilities that consume commodities, the Company’s exposure to commodity price risk is not material. The Company has established forecasted transaction risk management programs to protect against fluctuations in commodity prices and may use commodity derivatives contracts, such as commodity swaps, in these hedging programs. In addition, the Company has sourcing plans in place that are designed to mitigate the risk of a potential supplier concentration for its key commodities.

Interest Rate Risk—The Company’s exposure to market risk for changes in interest rates relates primarily to interest-earning financial assets and interest-bearing financial liabilities. The Company’s interest-earning financial assets are mostly

highly liquid investments and include money market funds, marketable securities and time deposits. As these financial assets have weighted-average maturity of less than one year, the Company’s exposure to interest risk is not material. The Company’s interest-bearing financial liabilities include fixed and floating rate loans and lease obligations. Floating rate loans bear interest at Base Rate or SOFR or EURIBOR plus a fixed premium. The Company uses pay-fixed / receive-float interest rate swaps to protect itself against adverse fluctuations in interest rates and to reduce its exposure to variability in cash flows from forecasted interest payments on its floating-rate debt facility to the extent that it is practicable and cost effective to do so.

Cash Flow Sensitivity Analysis for Variable Rate Instruments—The sensitivity of net income in the consolidated statements of operations is the effect of the assumed changes in interest rates on the Company’s net income for one year, based on the floating rate financial liabilities held on December 31, 2023, after taking into account interest rate hedges.

A hypothetical change in benchmark interest rates of 10% from current rates would not have a material impact on the consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021, after taking into account interest rate hedges.

Foreign Currency Risk—As a result of foreign operations, the Company has non-US-dollar denominated costs, assets and liabilities, primarily denominated in the EUR, JPY and SGD. Movements in foreign exchange rates could cause foreign currency denominated expenses to increase as a percentage of net revenue, affecting the Company’s profitability and cash flows. The Company uses foreign currency forward contracts to reduce exposure to foreign currency fluctuations from its foreign currency denominated expenditures. The Company may also economically hedge foreign currency risk related to its non-US-dollar denominated assets and liabilities with currency forward contracts.

The Company also incurs a certain portion of its interest expense in EUR and SGD, exposing the Company to exchange rate fluctuations between US dollar and the EUR or SGD. The Company uses cross-currency swaps and cross-currency interest rate swaps to reduce its exposure to variability from foreign exchange rates impacting cash flows arising from Company’s foreign currency denominated debt to the extent that it is practicable and cost effective to do so.

Exposure to Currency Risk—The Company’s exposure to foreign currency risk against financial assets and financial liabilities was as follows, based on notional amounts:


(in millions)	EUR		JPY		SGD
December 31, 2022
Receivables and prepayments	$	120	$	—	$	16
Cash and cash equivalents	48		4		420
Loans and borrowings	45		—		—
Trade and other payables	(388)		(73)		(149)

	$	(175)	$	(69)	$	287
December 31, 2023
Receivables and prepayments	$	86	$	—	$	28
Cash and cash equivalents	$	104	$	5	$	19
Loans and borrowings	$	11	$	—	$	—
Trade and other payables	$	(253)	$	(97)	$	(121)

	$	(52)	$	(92)	$	(74)

A hypothetical 10% change in the relative value of the U.S. dollar to other currencies would not have a material impact on the consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021, after taking into account foreign currency hedges

Credit Risk—Credit risk can be defined as the risk of suffering financial loss from financial instruments due to the failure by a counterparty to fulfill an obligation. Financial instruments that subject the Company to concentrations of credit risk include investments and cash equivalents, accounts receivable and derivatives. The Company generally places investments with high-credit-quality counterparties and, by policy, limits the amount of credit exposure to any one counterparty based on an analysis of that counterparty's relative credit standing. As required per the investment policy, substantially all of the Company’s investments in debt instruments are in investment-grade instruments. Counterparty credit-rating criteria for derivatives are similar to those for other investments.

The Company generally does not require collateral to secure accounts receivable. Credit risk with respect to trade receivables is mitigated by credit evaluations the Company performs on its customers, the short duration of payment terms for the significant majority of its customer contracts and by the diverse nature of the Company’s customer base. The expected credit losses of trade and other receivables are not significant.

The Company’s ten largest customers account for approximately 79% and 74% of the outstanding trade receivables balance as of December 31, 2023 and 2022, respectively. The Company considers the concentration of credit risk for the remaining accounts receivable not material.

Exposure to Credit Risk—The carrying amount of financial assets represents the assets’ maximum credit exposure.

The aging of financial assets including trade receivables is as follows:


					Past Due but Not Impaired
(in millions)	Total		Neither past Due Nor Impaired		< 30 Days		31-90 Days		91-120 Days		Great than 120 days
December 31, 2022	$	2,254	$	2,137	$	84	$	33	$	—	$	—
December 31, 2023	$	2,785	$	2,651	$	127	$	7	$	—	$	—

Liquidity Risk—The Company monitors its risk of a shortage of funds by monitoring its cash flow situation. Ongoing cash forecasting and review processes have been set up to determine the amount of internal and external funding needed in order to meet the Company’s financial obligations as they become due. The Company has set up a process of mid- and long-term financial planning. The Company’s financing structure, including maturities of debt, is determined in response to the financing requirements identified with the long-term business planning process.

The table below summarizes the maturity profile of the Company’s financial liabilities:


(in millions)	Carrying Value		Contractual Cash Flows		1 Year or Less		1 to 5 Years		Greater than 5 Years
December 31, 2022
Loans and borrowings	$	2,511	$	2,706	$	229	$	1,443	$	1,034
Lease obligations	345		427		92		184		151
Derivative liabilities	66		66		61		5		—
Trade payables and other liabilities	2,265		2,265		2,171		63		31
Total	$	5,187	$	5,464	$	2,553	$	1,695	$	1,216
December 31, 2023
Loans and borrowings	$	2,372	$	2,558	$	575	$	971	$	1,012
Lease obligations	382		521		44		194		283
Derivative liabilities	56		56		42		14		—
Trade payables and other liabilities	1,438		1,438		1,354		55		29
Total	$	4,248	$	4,573	$	2,015	$	1,234	$	1,324

In preparing the maturity profile, undiscounted interest payments are calculated based on contractual interest rates where these are fixed, or, in the case of discounted liabilities for leases, based on the interest rate implicit in the financing arrangement. For variable interest arrangements undiscounted payments are determined based on the interest rate prevailing at the reporting date.

Assets and Liabilities Measured at Fair Value—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 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.

For assets and liabilities that are recognized at fair value on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. Foreign currency forward contracts are classified within Level 2. The fair values of foreign currency forward contracts are determined using quantitative models that require the use of multiple market inputs, including interest rates, prices and maturity dates to generate pricing curves,

which are used to value the positions. The market inputs are generally actively quoted and can be validated through external sources. For foreign currency forward contract asset and liability positions with maturity dates which fall between the dates of quoted prices, interpolation of rate or maturity scenarios are used in determining fair values. During the years ended December 31, 2023 and 2022, there were no transfers between Level 1, 2 and Level 3 fair value measurements.

Financial Instruments 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:


	Fair Value Measurement at Reporting Date Using

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

Cash equivalents(1)	$	961	$	961	$	—	$	—



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

Investment in marketable securities(3)	$	994	$	994	$	—	$	—



Derivatives(3)	$	177	$	—	$	177	$	—

Liabilities:




Derivatives(3)	$	66	$	—	$	66	$	—


	Fair Value Measurement at Reporting Date Using

(in millions)	Total		Quoted Prices Identical Assets/ Liabilities (Level 1)		Significant Other Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2023
Assets:

Cash equivalents (1)	$	1,897	$	1,626	$	271	$	—

Investments in equity instruments (2)	$	19	$	—	$	—	$	19

Investments in marketable securities(3)	$	1,501	$	1,189	$	312	$	—

Derivatives(4)	$	132	$	—	$	132	$	—

Liabilities:






Derivatives(4)	$	56	$	—	$	56	$	—

(1)Included in cash and cash equivalents on the Company’s consolidated statements of financial position.

(2)Included in current and non-current receivables, prepayments and other assets on the Company’s consolidated statements of financial position.

(3)Included in current and non-current marketable securities on the Company’s consolidated statements of financial position.

Assets Measured and Recorded at Fair Value on a Non-Recurring Basis

Certain assets 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 non-marketable equity securities (that have not been re-measured or impaired in the current period), grants receivable, loans receivable, lease obligations and the current and non-current portions of the Company’s long-term debt.


(in millions)		December 31, 2023				December 31, 2022
Financial Liability	Category	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Other long-term debt	FLAC	$	2,372	$	2,319	$	2,511	$	2,414
Total		$	2,372	$	2,319	$	2,511	$	2,414

Estimated fair values of loans and borrowings is 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 loan and maturity. The Company estimates the fair value using market interest rates for the Company’s debts with similar maturities.

Income Taxes - Reconciliation of Deferred Tax assets, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of changes in deferred tax liability (asset) [abstract]
Beginning balance	$ (266)	$ (351)
Tax (expense) benefit recognized to consolidated statements of operations	(50)	(67)
Tax (expense) benefit recognized to other comprehensive income (loss)	19	(18)
Ending balance	$ (235)	$ (266)

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Net revenue	$ 7,392	$ 8,108	$ 6,585
Cost of revenue	5,291	5,869	5,572
Gross profit	2,101	2,239	1,013
Research and development expense	428	482	478
Selling, general and administrative expense	473	496	595
Restructuring expense	71	94	0
Operating expenses	972	1,072	1,073
Income (loss) from operations	1,129	1,167	(60)
Finance income	149	51	6
Finance expense	(137)	(111)	(114)
Gain on sale of East Fishkill (“EFK”) business	0	403	0
Other income (expense), net	(57)	22	(8)
Income (loss) before income taxes	1,084	1,532	(176)
Income tax expense	(66)	(86)	(78)
Net income (loss) for the year	1,018	1,446	(254)
Attributable to:
Shareholder of GLOBALFOUNDRIES INC.	1,020	1,448	(250)
Non-controlling interest	(2)	(2)	(4)
Net income (loss) for the year	$ 1,018	$ 1,446	$ (254)
Net income (loss) per share attributable to the equity holders of the Company:
Basic weighted average ordinary shares outstanding (in shares)	552	539	506
Diluted weighted average ordinary shares outstanding (in shares)	556	552	506
Basic loss per share (in USD per share)	$ 1.85	$ 2.69	$ (0.49)
Diluted loss per share (in USD per share)	$ 1.83	$ 2.62	$ (0.49)

Share-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-based payment arrangements [Abstract]

Share-Based Compensation

The Company incurred share-based compensation expense of $148 million, $173 million, and $223 million during the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, the additional paid-in capital related to the share proceeds amounted to $46 million and $163 million, respectively. The Company incurred $21 million, $10 million and $5 million of payroll taxes associated with the share-based compensation expense for the years ended December 31, 2023 ,2022, and 2021 respectively.

As of December 31, 2023 and 2022, the Company has 3,485,505 shares and 2,826,758 shares respectively, available for future grant under the 2018 Share Incentive Plan (as described below).

As of December 31, 2023 and 2022, the Company has 17,011,837 shares and 13,648,116 shares respectively, available for future grant under the 2021 Equity Compensation Plan.

RSUs

In 2023 and 2022, the Company granted RSUs under the 2021 Equity Compensation Plan. The RSUs have a time-based vesting requirement, which provides that the RSUs will generally vest in three annual installments, with 33.33% vesting on each one-year anniversary of the vesting commencement date subject to the employee’s continued employment with the Company.


	Number of RSUs	Weighted average grant date fair value
Outstanding as of December 31, 2021	847,430	$	39.59
Granted	3,416,545	$	57.09
Forfeited	(314,158)	$	55.36
Exercised	(738,387)	$	49.51
Outstanding as of December 31, 2022	3,211,430	$	54.39
Granted	2,426,183	$	62.94
Forfeited	(390,769)	$	55.35
Exercised	(1,093,061)	$	55.28
Outstanding as of December 31, 2023	4,153,783	$	58.87

Prior to the IPO, the value of the RSUs was determined by the Company’s Board of Directors. Because there had been no public market for the ordinary shares, the Board of Directors determined the fair value at the time of grant of the RSU by contemporaneous valuations performed by unrelated third-party valuation firms as well as a number of objective and subjective factors including valuation of comparable companies, operating and financial performance, the lack of liquidity of capital stock and general and industry specific economic outlook, among other factors.

As of December 31, 2023, 2022 and 2021, there was $107 million, $88 million, and $26 million, respectively, of total unrecognized compensation cost related to outstanding RSUs.

PSUs

In 2023 and 2022, the Company granted performance stock units (“PSUs”) under the 2021 Equity Compensation Plan to certain senior level employees. Each PSU represents a contingent right to receive shares of the Company’s stock if the Company meets certain performance measures over the requisite performance period. The PSU awards entitle recipients to receive, upon vesting, a number of shares that ranges from 0% to 200% of the number of PSUs awarded, depending on the level of achievement of the specified performance conditions.

The PSUs vest subject to achievement of a performance target based on an absolute ROIC and relative total shareholder return (“TSR”) versus the SOX Index over a 3 year performance period subject to the grantee remaining employed by the Company through the end of the applicable performance period.


	Number of PSUs	Weighted average grant date fair value
Outstanding as of December 31, 2021	—	—
Granted	571,277	70.85
Forfeited	(34,082)	70.91
Outstanding as of December 31, 2022	537,195	$	70.91
Granted	875,646	$	69.73
Forfeited	(220,422)	$	69.90
Outstanding as of December 31, 2023	1,192,419	$	69.96

The Company uses the Monte Carlo simulation model to estimate the fair value of the PSUs at the date of grant. The equity volatility was determined based on the historical volatilities of comparable publicly traded companies over a look back period of 2.84 years and 2.74 years in 2023 and 2022, respectively, commensurate with the remaining term of the PSUs. The risk-free interest rate is based on the United States Treasury with a remaining term equivalent to the remaining performance measurement period. Dividends are not paid on the Company’s stock.

The assumptions used to value the Company’s PSUs granted during the period presented and their expected lives were as follows:


	December 31, 2023	December 31, 2022

Expected dividend yield	—	—
Expected volatility	50.93%	45.50%

Risk-free interest rate	4.60%	2.55%

Compensation expense is recognized for the PSU awards based on a graded attribution basis over the vesting period. As of December 31, 2023, and 2022 there was $22 million and $24 million, respectively, of total unrecognized compensation expense related to the PSUs.

Share Options

In 2017, the Company approved the Share Incentive Plan, which was intended to attract and retain talented employees and align shareholder and employee interests. Share options under the Share Incentive Plan vested over a five-year period.

In 2019, the Company offered to exchange the share options under the Share Incentive Plan with new share options under the “2018 Share Incentive Plan,” under which the Company may grant up to 25 million options to purchase shares in the Company with an exercise price of $10.00 per share. The options vest based on service over four or five years, depending on the timing of the grant, and contingent upon a liquidity event (change in control or IPO) with the earliest vesting date on the one-year anniversary of a liquidity event. On April 19, 2019, the Company issued the share options subject to the tender offer. The exchange of 2017 plan options into 2018 plan options resulted in a total incremental fair value of $64 million, of which $39 million was recognized in the second quarter of 2021 when an IPO became probable. The remainder was attributed prospectively. In the fourth quarter of 2021, the Company modified the earliest vesting date from one year post-anniversary of a liquidity event to six-months post-anniversary of a liquidity event, and shortened the contractual term for options held by US taxpayers to be the calendar year end after or within the year of vest. The options that remain outstanding at expiration will be auto-exercised through the broker.

The share options are effective for a term of 10 years from the grant date. Because the vesting and exercisability of these share options were dependent on a qualified liquidity event, the Company had to assess the probability of such an event in order to determine the expenses related to the share-based payments for the period. On June 30, 2021, the Company deemed an IPO to be probable under IFRS.

Upon the tender offer, the Company measured the pre-modification value of the old share options and compared that to the fair value of the new share options using the Black-Scholes option pricing model. The equity volatility was determined based on the historical volatilities of comparable publicly traded companies over a period equal to the expected average share-based payments life. The risk-free rate of interest was interpolated from the U.S. Constant Maturity Treasury rate curve to reflect the remaining expected life of share options. The fair value of the ordinary shares underlying the stock options has historically been determined by the Company’s Board of Directors. Because there had been no public market for the ordinary shares, the Board of Directors determined the fair value of the ordinary shares at the time of grant of the option by contemporaneous valuations performed by unrelated third-party valuation firms as well as a number of objective and subjective factors including valuation of comparable companies, operating and financial performance, the lack of liquidity of capital stock and general and industry specific economic outlook, among other factors.

The Company did not grant any stock options in 2023 and 2022.

The following table shows a summary of the share option’s activity for the year ended December 31, 2023 and 2022.


	Number of Share options	Weighted average exercise price per Share



Outstanding as of December 31, 2021	21,749,558	$	10.03

Exercised	(14,956,321)	$	10.00
Forfeited	(532,634)	$	10.00
Outstanding as of December 31, 2022	6,260,603	$	10.02

Exercised	(4,468,985)	$	10.02
Forfeited	(151,579)	$	10.00
Outstanding as of December 31, 2023	1,640,039	$	10.02
Exercisable balance as of December 31, 2023	1,485,670	$	10.03

The following table summarizes information about employees’ share options outstanding as of December 31, 2023:


Outstanding
Range of exercise prices		Number Outstanding	Weighted average remaining contractual life (in years)
$	10.02	1,640,039	2.67

The weighted average remaining contractual life is calculated based on the 10-year contract terms of the options and the weighted average exercise price is calculated using the exercise price of the outstanding options, which pertain to the 2018 Share Incentive Plan.

As of December 31, 2023, 2022 and 2021, there was $1 million, $7 million and $63 million, respectively, of total unrecognized compensation cost related to outstanding stock options.

ESPP

In connection with, and prior to the consummation of the Company's initial public offering in 2021, the Company's board of directors adopted the GLOBALFOUNDRIES Inc. 2021 Employee Stock Purchase Plan (the “ESPP”). The ESPP is administered by the Company's board of directors or, as applicable, its delegate (the “ESPP Administrator”).

The ESPP provides eligible employees with an opportunity to purchase ordinary shares through payroll deduction of up to 10% of their eligible compensation. A participant may purchase a maximum of 2,500 ordinary shares during a purchase period. Amounts deducted and accumulated by the participant are used to purchase ordinary shares at the end of each six-month purchase period. Participants in the ESPP receive a one-time grant of 50 RSUs upon enrollment in the ESPP. The Company matches 20% of each employee’s contributions on an after-tax basis.

Subject to certain equitable adjustments in connection with certain events affecting the outstanding ordinary shares reserved for issuance as awards, the maximum aggregate number of ordinary shares that may be issued or transferred under the ESPP with respect to awards is 7,500,000 ordinary shares; provided that the share reserve under the ESPP will, unless otherwise determined by the board of directors, automatically increase on January 1 of each year for 8 years commencing on January 1, 2023 and ending on (and including) January 1, 2031 in an amount equal to 0.25% of the total number of ordinary shares outstanding on December 31 of the preceding year. In no event will the number of ordinary shares that may be issued or transferred pursuant to rights granted under the ESPP exceed 18,750,000, in the aggregate, subject to the adjustments described above.

As of December 31, 2023, of the Company has issued 620,481 shares under this plan reflecting employees’ contribution and the 20% Company match.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

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

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, 2021	$	130	$	7,576	$	22,350	$	435	$	1,423	$	31,914
Additions(1)	—		67		27		—		3,564		3,658
Transfers from construction in progress	1		409		935		21		(1,366)		—

Disposals	(8)		(182)		(725)		(17)		(237)		(1,169)
Effects of exchange rate changes	(1)		(3)		(18)		—		—		(22)
As of December 31, 2022	122		7,867		22,569		439		3,384		34,381
Additions(1)	16		121		19		4		745		905
Transfers from construction in progress	—		616		1,979		7		(2,602)		—
Disposals	—		(25)		(297)		(2)		(15)		(339)
Effect of exchange rate changes	—		2		11		—		—		13
As of December 31, 2023	$	138	$	8,581	$	24,281	$	448	$	1,512	$	34,960
Accumulated Depreciation
As of December 31, 2021	$	37	$	4,266	$	18,507	$	384	$	7	$	23,201
Additions(1)	6		443		975		23		—		1,447


Disposals	(4)		(164)		(674)		(16)		—		(858)
Effects of exchange rate changes	—		(1)		(4)		—		—		(5)
As of December 31, 2022	$	39	$	4,544	$	18,804	$	391	$	7	$	23,785
Additions(1)	5		322		976		19		—		1,322
Disposals	—		(18)		(296)		(2)		—		(316)
Effect of exchange rate changes	—		1		4		—		—		5
As of December 31, 2023	$	44	$	4,849	$	19,488	$	408	$	7	$	24,796

Net book value as of December 31, 2022	$	83	$	3,323	$	3,765	$	48	$	3,377	$	10,596

Net book value as of December 31, 2023	$	94	$	3,732	$	4,793	$	40	$	1,505	$	10,164

Construction in progress includes property, plant and equipment that are still in progress of construction and qualification process for equipment, necessary for these assets to be operating in the manner for their intended use. When these assets are completed and placed in service, they are transferred to property, plant and equipment and depreciation commences. The Company transferred $2.6 billion and $1.4 billion in 2023 and 2022, respectively, from construction in progress to the respective property, plant and equipment category.

The gross amount of ROU assets recorded under leases, which are included in property, plant and equipment amounted to $996 million and $888 million as of December 31, 2023 and 2022, respectively. The net carrying value of ROU assets amounted to $335 million and $282 million as of December 31, 2023 and 2022, respectively. Amortization of ROU assets is included in depreciation expense. Depreciation expense for the years ended December 31, 2023, 2022 and 2021 for all ROU assets was $57 million, $82 million and $81 million, respectively.

Depreciation expense on property, plant and equipment is as follows:


(in millions)	2023		2022		2021
Cost of revenue	$	1,259	$	1,377	$	1,309
Research and development expenses	38		40		73
Selling, general and administrative expenses	25		30		29
Total	$	1,322	$	1,447	$	1,411

Leases - Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows used in operating activities:
Payments of short-term and low-value leases	$ 0	$ (1)
Interest paid	(21)	(23)	$ (27)
Cash flows used in financing activities:
Payment of lease obligations	$ (77)	$ (89)

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-based payment arrangements [Abstract]

Disclosure of number and weighted average exercise prices of RSUs and PSUs


	Number of RSUs	Weighted average grant date fair value
Outstanding as of December 31, 2021	847,430	$	39.59
Granted	3,416,545	$	57.09
Forfeited	(314,158)	$	55.36
Exercised	(738,387)	$	49.51
Outstanding as of December 31, 2022	3,211,430	$	54.39
Granted	2,426,183	$	62.94
Forfeited	(390,769)	$	55.35
Exercised	(1,093,061)	$	55.28
Outstanding as of December 31, 2023	4,153,783	$	58.87


	Number of PSUs	Weighted average grant date fair value
Outstanding as of December 31, 2021	—	—
Granted	571,277	70.85
Forfeited	(34,082)	70.91
Outstanding as of December 31, 2022	537,195	$	70.91
Granted	875,646	$	69.73
Forfeited	(220,422)	$	69.90
Outstanding as of December 31, 2023	1,192,419	$	69.96

Schedule of fair value assumptions

The assumptions used to value the Company’s PSUs granted during the period presented and their expected lives were as follows:


	December 31, 2023	December 31, 2022

Expected dividend yield	—	—
Expected volatility	50.93%	45.50%

Risk-free interest rate	4.60%	2.55%

Disclosure of number and weighted average exercise prices of share options

The following table shows a summary of the share option’s activity for the year ended December 31, 2023 and 2022.


	Number of Share options	Weighted average exercise price per Share



Outstanding as of December 31, 2021	21,749,558	$	10.03

Exercised	(14,956,321)	$	10.00
Forfeited	(532,634)	$	10.00
Outstanding as of December 31, 2022	6,260,603	$	10.02

Exercised	(4,468,985)	$	10.02
Forfeited	(151,579)	$	10.00
Outstanding as of December 31, 2023	1,640,039	$	10.02
Exercisable balance as of December 31, 2023	1,485,670	$	10.03

Disclosure of number and weighted average remaining contractual life of outstanding share options

The following table summarizes information about employees’ share options outstanding as of December 31, 2023:


Outstanding
Range of exercise prices		Number Outstanding	Weighted average remaining contractual life (in years)
$	10.02	1,640,039	2.67

Restructuring (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring [Abstract]

Disclosure of summary of restructuring

The changes to the restructuring provisions recorded on the consolidated statements of financial position as of December 31, 2023 and 2022 are summarized as follows:


(in millions)	2023		2022
Beginning balance	$	86	$	—
Provision	71		91
Amounts paid	(126)		(5)

Ending balance	$	31	$	86

Employee Benefits Plans (Details) - USD ($)	12 Months Ended
Employee Benefits Plans (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Benefits [Abstract]
Employee contributions matched by employer (as a percent)	3.00%
Matched amount per dollar of additional employee contributions	$ 0.50
Additional employee contributions matched by employer (as a percent)	3.00%
Maximum employee contributions matched by employer (as a percent)	4.50%
Contribution 401(K) expense	$ 25,000,000	$ 32,000,000	$ 31,000,000
Contribution expense	$ 29,000,000	$ 31,000,000	$ 29,000,000

Critical Accounting Judgements, Estimates, and Assumptions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Profit (loss) before tax	$ 1,084	$ 1,532	$ (176)
Building and leasehold/land improvements \| Change In Accounting Estimate
Disclosure of detailed information about property, plant and equipment [line items]
Profit (loss) before tax	$ 76
Minimum \| Building and leasehold/land improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)	26 years
Maximum \| Building and leasehold/land improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)	50 years

Summary of Material Accounting Policies - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [line items]
Profit (loss) before tax	$ 1,084	$ 1,532	$ (176)
Building and leasehold/land improvements \| Change In Accounting Estimate
Disclosure of detailed information about property, plant and equipment [line items]
Profit (loss) before tax	$ 76
Computer
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)	5 years
Maximum \| Building and leasehold/land improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)	50 years
Maximum \| Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)	10 years
Minimum \| Building and leasehold/land improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)	26 years
Minimum \| Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life (in years)	2 years

Summary of Material Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies, Changes In Accounting Estimates And Errors [Abstract]

Basis of Measurement

These financial statements have been prepared on the historical cost basis except as otherwise described in the notes below.

Basis of Consolidation

Basis of Consolidation—The consolidated financial statements comprise the financial statements of GLOBALFOUNDRIES and its subsidiaries. Subsidiaries are fully consolidated from the date of acquisition, being the date on which GLOBALFOUNDRIES obtains control, and continue to be consolidated until the date when such control ceases. All intercompany transactions, balances, income and expenses are eliminated in full on consolidation. Wholly-owned subsidiaries and controlled entities included in these consolidated financial statements are disclosed in Note 29.

Control is achieved when the Company is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary. Specifically, the Company controls a subsidiary if the Company (a) has power over the subsidiary, (b) is exposed, or has rights, to variable returns from its involvement with subsidiary, and (c) has the ability to use the power to affect its returns.

Profit or loss and each component of other comprehensive income (loss) (“OCI”) are attributed to the Shareholder of the Company and to the non-controlling interests.

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

If the Company loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resulting gain or loss is recognized in the consolidated statements of operations. Any investment retained is recognized at fair value.

Foreign Currency Translation

Foreign Currency Translation—Assets and liabilities of foreign operations having a functional currency other than the U.S. dollar are translated at the rate of exchange prevailing at the reporting date and revenue and expenses at the rate of exchange prevailing at the dates of the transactions during the period. Gains or losses on translation of foreign operations are included in OCI.

In preparing the consolidated financial statements of the Company, foreign currency-denominated monetary assets and liabilities are translated into the functional currency using the closing rate at the applicable consolidated statement of financial position dates. Non-monetary assets and liabilities, denominated in a foreign currency and measured at fair value, are translated at the rate of exchange prevailing at the date when the fair value was determined and non-monetary assets measured at historical cost are translated at the historical rate. Revenue and expenses are measured in the functional currency at the rates of exchange prevailing at the dates of the transactions with gains or losses included in the statements of operations.

Investments in Joint Operations

Cash and Cash Equivalents

Trade Accounts Receivable

Inventories

Financial Instruments

Financial Instruments:

Category of financial instruments and measurement

The assessment of whether contractual cash flows on debt instruments are solely comprised of principal and interest is made based on the facts and circumstances at the initial recognition of assets.

Derecognition of financial assets

Impairment of financial assets

ineffective portion of hedges or changes in fair value from excluded components of the hedge are immediately recorded in the consolidated statements of operations.

Property, Plant, and Equipment


Building and leasehold/land improvements			Up to 50 years (or the remaining lease term of related land on which the buildings are erected, if shorter)
Equipment			2 to 10 years
Computers			5 years

Leases

Lease liabilities—At the commencement date of the lease, the Company recognizes lease liabilities at the present value of the lease payments to be made over the lease term.

Share-based compensation

Share-based compensation—Share-based compensation expense related to share awards is recognized based on the fair value of the awards granted.

Share-based compensation—Share-based compensation expense is recognized based on the grant date fair value of the awards. The fair value of Restricted Share Units (“RSUs”) is determined based on the closing price of the ordinary stock on the date of grant. The fair value of stock options is estimated using the Black-Scholes option pricing model for options. The fair value of Performance Share Units (“PSUs”) is estimated using a Monte Carlo simulation. Both models require management to make certain assumptions of future expectations based on historical and current data. The assumptions

include the estimated fair value of the Company’s stock, expected term of the awards, expected volatility, dividend yield, and risk-free interest rate. These estimates involve inherent uncertainties and the application of management’s judgment.

The principles of modification accounting are applied when a new share-based payment is granted as a replacement for another share-based payment that is cancelled. When modification accounting is applied, the entity accounts for any incremental fair value in addition to the grant-date fair value of the original award. In the case of a replacement, the incremental fair value is the difference between the fair value of the replacement award and the net fair value of the cancelled award, both measured at the date on which the replacement award is issued. The net fair value is the fair value of the cancelled award measured immediately before the cancellation, less any payment made to the employees on cancellation.

A package of modifications might include several changes to the terms of a grant, some of which are favorable to the employee and some not. In the event the net effect is not beneficial to the employee, cancellation accounting will be applied. Cancellations or settlements of equity-settled share-based payments during the vesting period by the Company are accounted for as accelerated vesting; therefore, the amount that would otherwise have been recognized for services received is recognized immediately.

In September 2023, the people and compensation committee of GlobalFoundries approved a modification to the 2023 PSUs, to adjust the return on invested capital (“ROIC”) performance threshold. The modification did not increase the fair value of the 2023 PSUs as the non-market performance condition was not considered when determining the fair value on the modification date. The Company will cumulatively adjust the expense based on the number of shares probable of vesting based on ROIC metrics and the grant date fair value.

Government Grants

Research and Development Costs

Borrowing Costs

Current Income Tax

Income Taxes and Realization of Deferred Tax Assets—In determining taxable income for financial statement reporting purposes, management makes certain estimates and judgments specific to taxation issues. These estimates and judgments are applied in the calculation of certain tax liabilities and in the determination of the recoverability of deferred tax assets, which arise from temporary differences between the recognition of assets and liabilities for income tax and financial statement reporting purposes.

Deferred taxes are recognized for unused losses, among other factors, to the extent that it is probable that taxable profit will be available against which the losses can be utilized.

This evaluation requires the exercise of judgment with respect to, among other things, benefits that could be realized from available tax strategies and future taxable income, as well as other positive and negative factors. The ultimate realization of deferred tax assets is dependent upon, among other things, the Company’s ability to generate future taxable income that is sufficient to utilize loss carry-forwards or tax credits before their expiration or the Company’s ability to implement prudent and feasible tax planning strategies.

If estimates of projected future taxable income and benefits from available tax strategies are reduced as a result of a change in the assessment or due to other factors, or if changes in current tax regulations are enacted that impose restrictions on the timing or extent of the Company’s ability to utilize net operating losses and tax credit carry-forwards in the future, the Company may be required to reduce the amount of total deferred tax assets resulting in a decrease of total assets. Likewise, a change in the tax rates applicable in the various jurisdictions or unfavorable outcomes of any ongoing tax audits could have a material impact on the future tax provisions in the periods in which these changes could occur.

In addition, the calculation of tax liabilities involves dealing with uncertainties in the application of complex tax rules and the potential for future adjustment of uncertain tax positions by the tax authorities in the countries in which the Company operates. If estimates of these taxes are greater or less than actual results, an additional tax benefit or charge may result.

Recent Accounting Pronouncements and Developments

Recent Accounting Pronouncement, Adopted:

Amendments to IFRS 7, IFRS 9 and IAS 39 Interest Rate Benchmark Reform —

•most IFRS 9 hedge relationships that are directly affected by the IBOR reform are allowed to continue.

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 but are not yet effective:

•Non-current Liabilities with Covenants - Amendments to IAS 1 - Effective for annual periods beginning on or after January 01, 2024;

•Lease Liability in a Sale and Leaseback - Amendments to IFRS 16 - Effective for annual periods beginning on or after January 01, 2024;

•Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7-Effective for annual periods beginning on or after January 01, 2024

•General Requirement for Disclosure of Sustainability-related Financial Information - IFRS S1 -Effective for annual reporting periods beginning on or after January 1, 2024; and

•Climate Related Disclosures - IFRS S2 - Effective for annual reporting periods beginning on or after January 1, 2024

New Legislation:

Organization	12 Months Ended
Organization	Dec. 31, 2023
Corporate information and statement of IFRS compliance [abstract]
Organization	Organization 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”) is one of the world’s largest pure-play 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. GLOBALFOUNDRIES is a majority owned subsidiary of Mubadala Technology Investments LLC (“Shareholder”) through its subsidiaries, Mubadala Technology Investment Company and MTI International Investment Company LLC. Mubadala Technology Investments LLC is a subsidiary of Mamoura Diversified Global Holding PJSC (“MDGH”). Mubadala Investment Company PJSC (“MIC”) is the ultimate parent company. See Note 29 for further discussion of the Company’s related party disclosures. The Company previously entered into an agreement with Semiconductor Components Industries, LLC (“ON Semiconductor”) to sell the Company’s business in East Fishkill, New York, including buildings, facilities, certain equipment, inventories, and certain contracts. Under the agreement the Company will manufacture 300mm wafers for ON Semiconductor until the end of 2025 for additional fees, allowing ON Semiconductor to increase its 300mm production at the East Fishkill fab over several years. Under the agreement, ON Semiconductor committed to minimum fixed cost payments in each year through 2023. On December 31, 2022, the Company completed the sale of the EFK business for a total purchase price of $406 million, and recognized a gain amounting to $403 million. The consolidated financial statements were authorized by the GLOBALFOUNDRIES’ Board of Directors on April 29, 2024 to be issued and subsequent events have been evaluated for their potential effect on the consolidated financial statements through April 29, 2024.

Provisions - Narrative (Details)	12 Months Ended
Provisions - Narrative (Details)	Dec. 31, 2023	Dec. 31, 2022
Minimum
Disclosure of other provisions [line items]
Discount rate (as a percent)	1.72%	1.58%
Maximum
Disclosure of other provisions [line items]
Discount rate (as a percent)	3.35%	4.04%

Issued Capital and Reserves	12 Months Ended
Issued Capital and Reserves	Dec. 31, 2023
Share Capital, Reserves, and Other Equity Interest [Abstract]
Issued Capital and Reserves	Issued Capital and Reserves Share Capital—On September 12, 2021, the Company effected a 1-for-2 reverse share split, which was approved by our board of directors on September 9, 2021. On October 27, 2021, the Company completed an initial public offering, issuing 30,250,000 ordinary shares, as well as 1,595,744 ordinary shares in a concurrent private placement agreement. As of December 31, 2023, there were 1,300 million ordinary shares and 200 million preferred shares with a par value of $0.02 authorized, and 554 million ordinary shares issued and outstanding. Additional Paid-In Capital—Additional paid-in capital represents the excess of assets less liabilities contributed to GLOBALFOUNDRIES by shareholders over the share capital issued in exchange for those contributions and share-based compensation charges for share-based payments. Reserves All other reserves as stated in the consolidated statements of changes in equity: Hedging Reserve—The cash flow hedge reserve contains the effective portion of the cash flow hedge relationships incurred as at the reporting date. Foreign Currency Translation Reserve—The foreign currency translation reserve is used to record exchange differences arising from the translation of Advanced Mask Technology Centre GmbH & Co. KG (“AMTC”) and Maskhouse Building Administration GmbH & Co. KH (“BAC”)’s financial statements for consolidation purpose.

Cover	12 Months Ended
Cover	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-40974
Entity Registrant Name	GLOBALFOUNDRIES Inc.
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	400 Stonebreak Road Extension
Entity Address, City or Town	Malta
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	12020
Title of 12(b) Security	Ordinary shares, par value US$0.02 per share
Trading Symbol	GFS
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	553,548,190
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Central Index Key	0001709048
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Financial Statement Error Correction [Flag]	false
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	400 Stonebreak Road Extension
Entity Address, City or Town	Malta
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	12020
City Area Code	(518)
Local Phone Number	305-9013
Contact Personnel Name	John Hollister
Contact Personnel Email Address	ir@gf.com

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Intangible Assets [Abstract]

Schedule of goodwill and intangible assets rollforward


Cost (in millions)	Technology, Licenses and Similar Rights		Software		Patents		Goodwill		Others		Total

As of December 31, 2021	$	1,202	$	284	$	229	$	18	$	132	$	1,865
Additions	62		96		—		—		5		163

Disposals	(47)		(12)		(3)		—		—		(62)
As of December 31, 2022	1,217		368		226		18		137		1,966
Additions	61		96		—		—		—		157
Disposals	(40)		—		—		—		—		(40)
As of December 31, 2023	$	1,238	$	464	$	226	$	18	$	137	$	2,083

Accumulated Amortization
As of December 31, 2021	$	867	$	278	$	212	$	—	$	131	$	1,488
Additions	150		10		16		—		—		176

Disposals	(46)		(12)		(3)		—		—		(61)
As of December 31, 2022	971		276		225		—		131		1,603
Additions	121		7		—		—		1		129
Disposals	(40)		—		—		—		—		(40)
As of December 31, 2023	$	1,052	$	283	$	225	$	—	$	132	$	1,692

Net book value as of December 31, 2022	$	246	$	92	$	1	$	18	$	6	$	363

Net book value as of December 31, 2023	$	186	$	181	$	1	$	18	$	5	$	391

Schedule of amortization expense

Amortization expense on intangible assets is as follows:


(in millions)	2023		2022		2021
Cost of revenue	$	61	$	91	$	113
Research and development expenses	63		70		74
Selling, general and administrative expenses	5		15		20
Total	$	129	$	176	$	207

Receivables, Prepayments and Other Assets - Maturity Schedule (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of provision matrix [line items]
Trade receivables, other than related parties	$ 1,002	$ 824
Receivables neither past due nor impaired
Disclosure of provision matrix [line items]
Trade receivables, other than related parties	880	708
Less than 30 days
Disclosure of provision matrix [line items]
Trade receivables, other than related parties	114	83
31 to 60 days
Disclosure of provision matrix [line items]
Trade receivables, other than related parties	4	22
61 to 90 days
Disclosure of provision matrix [line items]
Trade receivables, other than related parties	$ 4	$ 11

Organization (Details) - USD ($) $ in Millions	12 Months Ended
Organization (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of reclassifications or changes in presentation [line items]
Gain on sale of East Fishkill (“EFK”) business	$ 0	$ 403	$ 0
Discontinued Operations - Tampines, Singapore Facility
Disclosure of reclassifications or changes in presentation [line items]
Consideration received		406	$ 170
Gain on sale of East Fishkill (“EFK”) business		$ 403

Receivables, Prepayments and Other Assets - Summary of Receivables, Prepayments and Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Trade receivables, other than related parties	$ 1,002	$ 824
Other receivables	255	497
Unbilled accounts receivable	33	24	$ 43
Receivables from government grant	66	52
Receivables from related parties (Note 29)	12	11
Other current financial assets	52	79
Total	1,420	1,487
Non-current:
Advances to suppliers	213	235
Non-trade receivables	0	10
Receivables from government grant	106	0
Payment in Lieu of Tax (“PILOT”) Bonds	0	11
Other	24	25
Total	$ 343	$ 281

Other Financial Assets And Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Financial Instruments [Abstract]

Disclosure of financial assets and liabilities

The following foreign currency forward contracts are outstanding at December 31, 2023 and 2022 (in millions, except average foreign currency/US$):


	Fair Value of Derivative Instruments
Derivative Instruments	Other Current Financial Assets		Other Non-current Financial Assets		Other Current Financial Liabilities		Other Non-current Financial Liabilities		Notional Amount		Average Foreign Currency/ US$	Average Strike Price	Maturity
Outstanding as of December 31, 2022:
Forward contracts:
Euro forward contracts (receive euros/pay US$)	$	46	$	3	$	(32)	$	—	$	1,203	0.94	—	2023 - 2024
Singapore dollar forward contracts (receive Singapore$/pay US$)	15		—		(1)		—		496		1.37	—	2023
Japanese yen forward contracts (receive Japanese yen/pay US$)	18		—		(20)		—		236		127.22	—	2023 - 2024
	79		3		(53)		—		1,935
Interest rate swaps	—		42		—		—		795		—	0.382% - 1.731%	2023 - 2026
Cross currency interest rate swaps (receive euros/pay US$)	—		2		—		(3)		535		0.89	3.834% - 4.182%	2024 - 2026
Cross currency swaps (receive Singapore $/pay US$)	—		51		—		—		796		1.37	1.830% - 1.941%	2028
Commodity swaps	—		—		(8)		(2)		47		—	512.56	2023
Total	$	79	$	98	$	(61)	$	(5)	$	4,108

Outstanding as of December 31, 2023:
Forward contracts:
Euro forward contracts (receive euros/pay US$)	$	14	$	—	$	(4)	$	—	$	845	0.91	—	2024 - 2025
Singapore dollar forward contracts (receive Singapore$/pay US$)	8		—		(1)		—		483		1.33	—	2024 - 2025
Japanese yen forward contracts (receive Japanese yen/pay US$)	6		1		(7)		—		116		140.20	—	2024 - 2025
	28		1		(12)		—		1,444
Interest rate swaps	17		5		—		—		653		—	0.442% - 1.761%	2024 - 2026
Cross currency interest rate swaps (receive euros/pay US$)	5		1		(3)		—		519		0.89	3.834% - 4.182%	2024 - 2026
Cross currency swaps (receive Singapore $/pay US$)	—		73		—		—		1,127		1.37	1.83% - 1.941%	2028
Commodity swaps	2		—		(27)		(14)		237		0.91	73.59	2024 - 2025
Total	$	52	$	80	$	(42)	$	(14)	$	3,980

Disclosure of financial assets and liabilities

The following foreign currency forward contracts are outstanding at December 31, 2023 and 2022 (in millions, except average foreign currency/US$):


	Fair Value of Derivative Instruments
Derivative Instruments	Other Current Financial Assets		Other Non-current Financial Assets		Other Current Financial Liabilities		Other Non-current Financial Liabilities		Notional Amount		Average Foreign Currency/ US$	Average Strike Price	Maturity
Outstanding as of December 31, 2022:
Forward contracts:
Euro forward contracts (receive euros/pay US$)	$	46	$	3	$	(32)	$	—	$	1,203	0.94	—	2023 - 2024
Singapore dollar forward contracts (receive Singapore$/pay US$)	15		—		(1)		—		496		1.37	—	2023
Japanese yen forward contracts (receive Japanese yen/pay US$)	18		—		(20)		—		236		127.22	—	2023 - 2024
	79		3		(53)		—		1,935
Interest rate swaps	—		42		—		—		795		—	0.382% - 1.731%	2023 - 2026
Cross currency interest rate swaps (receive euros/pay US$)	—		2		—		(3)		535		0.89	3.834% - 4.182%	2024 - 2026
Cross currency swaps (receive Singapore $/pay US$)	—		51		—		—		796		1.37	1.830% - 1.941%	2028
Commodity swaps	—		—		(8)		(2)		47		—	512.56	2023
Total	$	79	$	98	$	(61)	$	(5)	$	4,108

Outstanding as of December 31, 2023:
Forward contracts:
Euro forward contracts (receive euros/pay US$)	$	14	$	—	$	(4)	$	—	$	845	0.91	—	2024 - 2025
Singapore dollar forward contracts (receive Singapore$/pay US$)	8		—		(1)		—		483		1.33	—	2024 - 2025
Japanese yen forward contracts (receive Japanese yen/pay US$)	6		1		(7)		—		116		140.20	—	2024 - 2025
	28		1		(12)		—		1,444
Interest rate swaps	17		5		—		—		653		—	0.442% - 1.761%	2024 - 2026
Cross currency interest rate swaps (receive euros/pay US$)	5		1		(3)		—		519		0.89	3.834% - 4.182%	2024 - 2026
Cross currency swaps (receive Singapore $/pay US$)	—		73		—		—		1,127		1.37	1.83% - 1.941%	2028
Commodity swaps	2		—		(27)		(14)		237		0.91	73.59	2024 - 2025
Total	$	52	$	80	$	(42)	$	(14)	$	3,980

Disclosure of fair value of financial instruments

The following table presents the fair values and locations of these derivative instruments recorded in the consolidated statements of financial position:


	Fair Value of Derivative Instruments
Derivative Instruments	Other Current Financial Assets		Other Non-current Financial Assets		Other Current Financial Liabilities		Other Non-current Financial Liabilities
Outstanding as of December 31, 2022:
Derivatives designated as hedging instruments
Foreign currency forwards	$	69	$	3	$	(52)	$	—
Interest rate swaps	—		42		—		—
Cross currency swaps and cross currency interest rate swaps	—		53		—		(3)
Commodity swaps	—		—		(8)		(2)
Derivatives not designated as hedging instruments
Foreign currency forwards	10		—		(1)		—
Total	$	79	$	98	$	(61)	$	(5)

Outstanding as of December 31, 2023:
Derivatives designated as hedging instruments
Foreign currency forwards	$	24	$	—	$	(9)	$	—
Interest rate swaps	17		5		—		—
Cross currency swaps and cross currency interest rate swaps	5		74		(3)		—
Commodity swaps	2		—		(22)		(11)
Derivatives not designated as hedging instruments
Foreign currency forwards	4		1		(3)		—
Commodity swaps	—		—		(5)		(3)
Total	$	52	$	80	$	(42)	$	(14)

Sensitivity analysis for types of market risk


(in millions)	Amount of Gains (Losses) Recognized in Accumulated OCI on Derivatives (effective Portion)		Amount of Gains (Losses) Reclassified from Accumulated OCI to cost of Property, Plant and Equipment		Location of Gains (Losses) Reclassified from Accumulated OCI into Income	Amounts of Gains (Losses) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Gain (Losses) Reclassified into Income (Missed Forecast)	Location of Gains (Losses) Recognized into Income (Ineffective Portion)	Amount of Gain (Losses) Recognized into Income (Ineffective Portion)
Year ended December 31, 2022
Derivatives designated as hedging instruments— Forward currency forward contracts	$	(105)	$	(93)	Cost of revenue and operating expenses	$	(76)	—	Other income (expense)	$	(5)
Derivatives designated as hedging instruments— Interest rate swaps	55		—		Finance expense	6		—	Other income (expense)	—
Derivatives designated as hedging instruments— Cross currency swaps and cross currency interest rate swaps	72		—		Cost of revenue and operating expenses	—		—	Other income (expense)	4
Derivatives designated as hedging instruments – Commodity swaps	(5)		—		Cost of revenue and operating expenses	26		—	Other income (expense)	(8)

Year ended December 31, 2023
Derivatives designated as hedging instruments— Forward currency forward contracts	$	17	$	(17)	Cost of revenue and operating expenses	$	34	—	Other income (expense)	—
Derivatives designated as hedging instruments— Interest rate swaps	8		—		Finance expense	28		—	Other income (expense)	—
Derivatives designated as hedging instruments— Cross currency swaps and cross currency interest rate swaps	31		—		Finance expense	6		—	Other income (expense)	(4)
					Other income (expense)	31		—
Derivatives designated as hedging instruments – Commodity swaps	(32)		—		Cost of revenue and operating expenses	(4)			Other income (expense)	—
					Other income (expense)	—		(13)

The following table presents the effect of derivatives not designated as hedging instruments on the consolidated statements of operations:


(in millions)	Location of Gains (Losses) Recognized in Income on Derivative	Amount of Gains (Losses) Recognized in Income on Derivative
Year ended December 31, 2021
Derivatives not designed as hedging instruments—foreign currency forwards contracts	Selling, general and administrative expenses	$	(17)

Year ended December 31, 2022
Derivatives not designed as hedging instruments—foreign currency forwards contracts	Other income (expense)	$	(22)

Total gain/(loss)		$	(22)

Year ended December 31, 2023
Derivatives not designed as hedging instruments—foreign currency forwards contracts	Other income (expense)	$	(16)
Derivatives not designed as hedging instruments—commodity swaps	Other income (expense)	(8)
Total gain/(loss)		$	(24)

Receivables, Prepayments and Other Assets - Schedule of Unbilled Accounts Receivable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Trade and other current receivables [abstract]
Beginning balance	$ 24	$ 43
Revenue recognized during the year	101	87
Amounts invoiced	(92)	(106)
Ending balance	$ 33	$ 24

Income Taxes - schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax assets	$ 235	$ 266	$ 351
Accelerated depreciation on property, plant and equipment
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax assets	(12)	(18)
Losses, credits and investment allowances available for offsetting against future taxable income
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax assets	231	277
Accrued expenses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax assets	11	16
Inventory
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax assets	3	1
Other comprehensive income (loss)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax assets	2	(8)
Currency effect
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax assets	(1)	0
Other
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Net deferred tax assets	$ 1	$ (2)

Goodwill and Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about intangible assets [line items]
Amortization expenses	$ 129	$ 176	$ 207
Cost of revenue
Disclosure of detailed information about intangible assets [line items]
Amortization expenses	61	91	113
Research and development expenses
Disclosure of detailed information about intangible assets [line items]
Amortization expenses	63	70	74
Selling, general and administrative expenses
Disclosure of detailed information about intangible assets [line items]
Amortization expenses	$ 5	$ 15	$ 20

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of Leases [Abstract]

Schedule of leases


(in millions)	December 31, 2023			December 31, 2022
Amortization of right-of-use assets	$	57		$	82
Interest expense on lease liabilities	21			23
Short-term and low-value leases expense	—			1
Total net lease cost	$	78		$	106
Weighted average remaining lease term	12.4 years			7.18 years
Weighted average discount rate	5.16		%	4.75		%

Schedule of lease liabilities

The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2023 and 2022:


	December 31, 2023				December 31, 2022
(in millions)	Minimum Lease Payments		Present Value of Payments		Minimum Lease Payments		Present Value of Payments
Within 1 year	$	44	$	32	$	92	$	75
2-5 years	194		128		184		146
After 5 years	283		222		151		124
	$	521	$	382	$	427	$	345
Less: amounts representing
finance charges	(139)		—		(82)		—
Present value of minimum lease payments	$	382	$	382	$	345	$	345
Current			32				75
Non-current			350				270
Total			$	382			$	345

Supplemental cash flow information related to leases is as follows:


(in millions)	December 31, 2023		December 31, 2022
Cash flows used in operating activities:
Payments of short-term and low-value leases	$	—	$	(1)
Interest paid	(21)		(23)
Cash flows used in financing activities:
Payment of lease obligations	(77)		(89)

Disclosure of lease liabilities

The following table summarizes the movement of ROU assets which primarily relates to building and leasehold improvements during the years ended December 31, 2023 and 2022 is as follows:


(in millions)	December 31, 2023		December 31, 2022
Beginning balance	$	282	$	305
Additions	117		59
Disposals	(7)		—

Amortization	(57)		(82)
Ending balance	$	335	$	282

Income Taxes - Income tax benefit (expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current income tax expense:
Current income tax benefit (expense)	$ (13)	$ (14)	$ 2
Adjustments in respect of current income tax of previous year	(3)	(5)	(1)
Deferred tax
Net operating and investment allowance carryforwards	(74)	(44)	(78)
Currency effect on non-monetary assets of subsidiary	23	(12)	(37)
Other change in temporary differences	1	(11)	36
Income tax expense	$ (66)	$ (86)	$ (78)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

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

Summary of property, plant and equipment

Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:


Building and leasehold/land improvements			Up to 50 years (or the remaining lease term of related land on which the buildings are erected, if shorter)
Equipment			2 to 10 years
Computers			5 years

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, 2021	$	130	$	7,576	$	22,350	$	435	$	1,423	$	31,914
Additions(1)	—		67		27		—		3,564		3,658
Transfers from construction in progress	1		409		935		21		(1,366)		—

Disposals	(8)		(182)		(725)		(17)		(237)		(1,169)
Effects of exchange rate changes	(1)		(3)		(18)		—		—		(22)
As of December 31, 2022	122		7,867		22,569		439		3,384		34,381
Additions(1)	16		121		19		4		745		905
Transfers from construction in progress	—		616		1,979		7		(2,602)		—
Disposals	—		(25)		(297)		(2)		(15)		(339)
Effect of exchange rate changes	—		2		11		—		—		13
As of December 31, 2023	$	138	$	8,581	$	24,281	$	448	$	1,512	$	34,960
Accumulated Depreciation
As of December 31, 2021	$	37	$	4,266	$	18,507	$	384	$	7	$	23,201
Additions(1)	6		443		975		23		—		1,447


Disposals	(4)		(164)		(674)		(16)		—		(858)
Effects of exchange rate changes	—		(1)		(4)		—		—		(5)
As of December 31, 2022	$	39	$	4,544	$	18,804	$	391	$	7	$	23,785
Additions(1)	5		322		976		19		—		1,322
Disposals	—		(18)		(296)		(2)		—		(316)
Effect of exchange rate changes	—		1		4		—		—		5
As of December 31, 2023	$	44	$	4,849	$	19,488	$	408	$	7	$	24,796

Net book value as of December 31, 2022	$	83	$	3,323	$	3,765	$	48	$	3,377	$	10,596

Net book value as of December 31, 2023	$	94	$	3,732	$	4,793	$	40	$	1,505	$	10,164

Schedule of depreciation expense

Depreciation expense on property, plant and equipment is as follows:


(in millions)	2023		2022		2021
Cost of revenue	$	1,259	$	1,377	$	1,309
Research and development expenses	38		40		73
Selling, general and administrative expenses	25		30		29
Total	$	1,322	$	1,447	$	1,411

Other Financial Assets And Liabilities - Fair Value and Location of Derivative Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	$ (42)	$ (61)
Other Non-current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	(14)	(5)
Other Current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	52	79
Other Non-current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	80	98
Foreign currency forwards \| Other Current Financial Liabilities
Derivatives Not Designated As Hedging Instruments [Abstract]
Derivative financial liabilities held for trading	(3)	(1)
Foreign currency forwards \| Other Non-current Financial Liabilities
Derivatives Not Designated As Hedging Instruments [Abstract]
Derivative financial liabilities held for trading	0	0
Foreign currency forwards \| Other Current Financial Assets
Derivatives Not Designated As Hedging Instruments [Abstract]
Derivative financial assets held for trading	4	10
Foreign currency forwards \| Other Non-current Financial Assets
Derivatives Not Designated As Hedging Instruments [Abstract]
Derivative financial assets held for trading	1	0
Commodity swaps \| Other Current Financial Liabilities
Derivatives Not Designated As Hedging Instruments [Abstract]
Derivative financial liabilities held for trading	(5)
Commodity swaps \| Other Non-current Financial Liabilities
Derivatives Not Designated As Hedging Instruments [Abstract]
Derivative financial liabilities held for trading	(3)
Commodity swaps \| Other Current Financial Assets
Derivatives Not Designated As Hedging Instruments [Abstract]
Derivative financial assets held for trading	0
Commodity swaps \| Other Non-current Financial Assets
Derivatives Not Designated As Hedging Instruments [Abstract]
Derivative financial assets held for trading	0
Foreign currency forwards \| Other Current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	(9)	(52)
Foreign currency forwards \| Other Non-current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	0	0
Foreign currency forwards \| Other Current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	24	69
Foreign currency forwards \| Other Non-current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	0	3
Interest rate swaps \| Other Current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	0	0
Interest rate swaps \| Other Non-current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	0	0
Interest rate swaps \| Other Current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	17	0
Interest rate swaps \| Other Non-current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	5	42
Cross currency swaps and cross currency interest rate swaps \| Other Current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	(3)	0
Cross currency swaps and cross currency interest rate swaps \| Other Non-current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	0	(3)
Cross currency swaps and cross currency interest rate swaps \| Other Current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	5	0
Cross currency swaps and cross currency interest rate swaps \| Other Non-current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	74	53
Commodity swaps \| Other Current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	(22)	(8)
Commodity swaps \| Other Non-current Financial Liabilities
Derivatives Designated As Hedging Instruments [Abstract]
Derivative liabilities	(11)	(2)
Commodity swaps \| Other Current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	2	0
Commodity swaps \| Other Non-current Financial Assets
Derivatives Designated As Hedging Instruments [Abstract]
Derivative financial assets	$ 0	$ 0

Operating Segments Information - Noncurrent Assets by Geography (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of geographical areas [line items]
Certain non-current assets	$ 11,396	$ 11,651
United States of America
Disclosure of geographical areas [line items]
Certain non-current assets	4,738	5,149
Germany
Disclosure of geographical areas [line items]
Certain non-current assets	2,400	2,462
Republic of Singapore
Disclosure of geographical areas [line items]
Certain non-current assets	3,801	3,508
Other
Disclosure of geographical areas [line items]
Certain non-current assets	$ 457	$ 532

Operating Segments Information (Tables)

12 Months Ended

Dec. 31, 2023

Operating Segments [Abstract]

Disclosure of geographical areas

Revenue based on customers’ headquarters and non-current assets by geography were as follows:


	For the year ended December 31,
Revenue by Geography	2023		2022		2021
(in millions)
United States	$	4,262	$	4,898	$	3,975
Europe, the Middle East, and Africa	1,533		1,182		805



Other	1,597		2,028		1,805
Total	$	7,392	$	8,108	$	6,585


Non-current Assets by Geography	2023		2022
(in millions)
United States	$	4,738	$	5,149
Germany	2,400		2,462
Singapore	3,801		3,508
Other	457		532
Total	$	11,396	$	11,651

Share-Based Compensation - Fair Value Assumptions (Details) - Performance Share Units (PSU)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected dividend yield	0.00%
Expected volatility, share options granted	50.93%	45.50%
Risk free interest rate, share options granted	4.60%	2.55%

Cash And Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2023

Statement of cash flows [abstract]

Disclosure of cash and cash equivalents


(in millions)	December 31, 2023		December 31, 2022
Cash balances on hand and at banks	$	490	$	990


Other cash and cash equivalents	1,897		1,362
Total	$	2,387	$	2,352

Disclosure of reconciliation of assets and liabilities arising from financing activities

The following presents the reconciliation of assets, liabilities and equity arising from financing activities:


					Non-cash changes
(in millions)	As of December 31, 2021 Assets (Liabilities and Equity)		Cash Flows (Inflows)/ Outflows		Addition		Foreign exchange movement		Others		As of December 31, 2022 Assets (Liabilities and Equity)
Restricted cash	$	1	$	—	$	—	$	—	$	—	$	1
Government grants receivable(1)	47		(93)		18		(1)		81		$	52


Other receivables	(1)		—		—		—		—		$	(1)
Debt	(2,013)		(670)		(6)		10		168		$	(2,511)
Lease obligations	(426)		89		(18)		9		1		$	(345)

Share capital	(11)		—		—		—		—		$	(11)
Additional Paid-In Capital	(23,487)		(168)		—		—		(176)		$	(23,831)
Total	$	(25,890)	$	(842)	$	(6)	$	18	$	74	$	(26,646)


					Non-cash changes
(in millions)	As of December 31, 2022 Assets (Liabilities and Equity)		Cash Flows (Inflows)/ Outflows		Addition		Foreign exchange movement		Others		As of December 31, 2023 Assets (Liabilities and Equity)
Restricted cash	$	1	$	—	$	—	$	—	$	—	$	1
Government grants receivable(1)	52		(5)		23		1		101		$	172


Other receivables	(1)		—		—		1		—		$	—
Debt	(2,511)		182		(17)		(30)		4		$	(2,372)
Lease obligations	(345)		77		(117)		(5)		8		$	(382)
Share capital	(11)		—		—		—		—		$	(11)
Additional Paid-In Capital	(23,831)		(42)		—				(154)		$	(24,027)
Total	$	(26,646)	$	212	$	(111)	$	(33)	$	(41)	$	(26,619)

Disclosure of geographical concentration of cash and cash equivalents

Geographical concentration of cash and cash equivalents is as follows:


(in millions)	December 31, 2023		December 31, 2022
United States of America	$	481	$	484
Republic of Singapore	1,666		1,775
Other	240		93






Total	$	2,387	$	2,352

Income Taxes

12 Months Ended

Dec. 31, 2023

Income taxes [Abstract]

Income Taxes

For tax reporting purposes, the Company consolidates its entities under GLOBALFOUNDRIES Inc., a Cayman Islands entity as described in Note 1. Accordingly, the Company has presented the domestic portion of the disclosures below based on its country of domicile in the Cayman Islands.

As a Cayman Islands corporation, the Company’s domestic statutory income tax rate is 0.00%. The difference between the Company’s domestic statutory income tax rate and its (expense) benefit for income taxes is due to the effect of the tax rates in the other jurisdictions in which the Company operates. Principally, for the years ended December 31, 2023 and 2022, the Company is subject to United States’ federal and state taxes with a combined statutory tax rate of 21.6% and 22.1%, respectively; German corporation and trade taxes with a combined statutory tax rate of 31.6%; and Singapore’s statutory tax rate of 17.0%.

Income tax expense consisted of the following:


(in millions)	December 31, 2023		December 31, 2022		December 31, 2021
Current income tax expense:
Current income tax benefit (expense)	$	(13)	$	(14)	$	2
Adjustments in respect of current income tax of previous year	(3)		(5)		(1)
Deferred tax
Net operating and investment allowance carryforwards	(74)		(44)		(78)
Currency effect on non-monetary assets of subsidiary	23		(12)		(37)
Other change in temporary differences	1		(11)		36
Income tax expense reported in the consolidated statements of operations	$	(66)	$	(86)	$	(78)

A reconciliation between tax expense and accounting profit multiplied by the Company’s statutory rate of 0.0% is as follows:


(in millions)	December 31, 2023			December 31, 2022			December 31, 2021
Income (Loss) before income taxes	$	1,084		$	1,532		$	(176)
Tax at Enacted Statutory Rate	$	—		$	—		$	—
Foreign tax rate differential	(65)			(98)			(75)
Adjustments in respect to current income tax of previous years	(1)			(5)			(1)
Government grants exempt from tax	7			7			5
Deductible expense for tax purpose	(2)			—			(1)
Impact of unrecognized deferred tax assets	(20)			57			9
Non-deductible expenses for tax purposes	—			(21)			(4)
Effects of foreign exchange gains (loss)	10			(14)			(22)
Impact of change in liability for uncertain tax positions	3			1			7
Withholding Tax	—			(11)			—
Other effects	2			(2)			4
Income tax (expense) benefit	$	(66)		$	(86)		$	(78)
Effective income tax rate	(6.1)		%	(5.6)		%	44.3		%

The Company has determined that it is probable that 100% of deferred tax assets can be realized in Singapore. The Company has determined that realization of deferred taxes associated with loss carryforwards is limited to reserves for uncertain tax positions in the United States and Germany that would generate future taxable income, and deferred tax assets resulting from consolidation of AMTC and BAC.

Components of the Company’s deferred tax assets and liabilities are attributable as follows:


(in millions)	December 31, 2023		December 31, 2022
Accelerated depreciation on property, plant and equipment	$	(12)	$	(18)
Losses, credits and investment allowances available for offsetting against future taxable income	231		277
Accrued expenses	11		16
Inventory	3		1
Other comprehensive income (loss)	2		(8)
Currency effect	(1)		—

Other	1		(2)
Net deferred tax assets	$	235	$	266

The classification of the net deferred tax assets in the statements of financial position is as follows:


(in millions)	December 31, 2023		December 31, 2022
Deferred tax assets	$	241	$	292
Deferred tax liabilities(1)	(6)		(26)
Net deferred tax assets	$	235	$	266

(1) Included in Other non-current liabilities in the statements of financial position.

Total unrecognized deferred tax assets as of December 31, 2023 and 2022 was $3,665 million and $3,708 million, respectively. The Company does not anticipate any significant changes to the total amounts of unrecognized deferred tax assets within the next 12 months of the reporting date. Deferred tax assets have not been recognized in respect to these items because it is not probable that future taxable profit will be available against which the Company can utilize the benefits.

As of December 31, 2023 and 2022, the Company has accumulated corporate losses in Germany of $1,119 million and $1,132 million, respectively, and trade tax losses in Germany of $830 million and $851 million, respectively. Except for a fully deductible base amount, utilization of German net operating loss carryforwards is limited to 60.0% of taxable income in any one year. German net operating losses do not expire with the passage of time, but may forfeit partially or completely as a result of legal entity restructurings.

As of December 31, 2023 and 2022, the Company has unutilized capital allowances on the property, plant and equipment held in Singapore of $440 million and $713 million, respectively, and unutilized tax losses available for carryforward of $58 million and $58 million, respectively. Under Singapore tax law, unutilized capital allowances and unutilized tax losses are deductible to the extent of income available. Unutilized capital allowances and unutilized tax losses can be carried forward indefinitely subject to compliance with the conditions that there is no substantial change in shareholders and no change in the Company’s principal activities, where applicable. As of December 31, 2023 and 2022, the Company has investment allowances of $843 million and $843 million, respectively in Singapore which can be carried forward indefinitely. These carryforward tax attributes have been fully recognized as deferred tax assets.

As of December 31, 2023 and 2022, the Company has gross operating loss carryforwards in the United States of $5,984 million and $7,307 million, respectively; $4,434 million will expire in years 2029 through 2037. As of December 31, 2023 and 2022, the Company has $821 million and $822 million, respectively of California gross operating loss carryforwards and, in the other states in which it operates, it has gross operating loss carryforwards of $868 million and $885 million, respectively. The state carryforwards expire beginning in 2026. In addition, the Company has U.S. research and development tax credit carryforwards of $186 million and $157 million for the years December 31, 2023 and 2022, respectively, that will expire in years 2030 through 2043. The Company has California research and development tax credits of $22 million and $17 million as of December 31, 2023 and 2022, respectively, that do not expire. In addition, the Company has nonrefundable New York Empire Zone credit carryforwards of $947 million and $1,115 million as of December 31, 2023 and 2022, respectively, that do not expire. Five other states have research and development tax credits, Texas, Minnesota, Vermont, North Carolina, and New Jersey for which the Company has calculated a total credit carryforward of $10 million and $8 million for the years December 31, 2023 and 2022, respectively. These credits have a carryforward that expire between 2030 through 2043. These carryforward attributes have not been recognized as deferred tax assets.

At December 31, 2023 and 2022, no deferred tax liabilities were recorded for taxes that would be payable on the undistributed earnings of the Company’s subsidiaries. It is the Company’s intention to indefinitely reinvest the undistributed earnings of its foreign subsidiaries except in certain limited cases, which are not expected to have a material tax effect. The cash that is permanently reinvested is typically used to expand operations.

A reconciliation of deferred taxes, net is as follows:


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

Beginning balance	$	266	$	351
Tax (expense) benefit recognized to consolidated statements of operations	(50)		(67)
Tax (expense) benefit recognized to other comprehensive income (loss)	19		(18)


Ending balance	$	235	$	266

As of December 31, 2023 and 2022, the Company’s current tax receivables were $0 and $1 million, respectively, related to its subsidiaries in Europe.

As of December 31, 2023 and 2022, the Company’s current income tax payable of $19 million and $14 million is composed of $10 million, $4 million, $5 million and $2 million, $3 million, $9 million, respectively, for entities incorporated in Europe, the United States/Cayman Islands and Singapore, respectively. The current income tax payable amounts include the following uncertain tax provisions: $2 million in the United States for December 31, 2023 and $0 for December 31, 2022; $5 million and $8 million in Singapore for December 31, 2023 and 2022, respectively; $2 million and $3 million in Europe for December 31, 2023 and 2022, respectively, for exposure arising from unutilized capital allowances and domestic related party transactions. Europe had no current income taxable amounts included in uncertain tax provisions for either December 31, 2023 and 2022.

Trade Payables and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Subclassifications of assets, liabilities and equities [abstract]

Schedule of current and noncurrent trade and other payables


(in millions)	December 31, 2023		December 31, 2022
Current:
Trade payables	$	511	$	532
Accrued expenses	496		573

Contract liabilities(1)	895		592
Advances and deposits(2)	68		93
Payable for property, plant and equipment and Intangible Assets	282		961

Other(3)	97		98










Total	$	2,349	$	2,849
Non-current:

Payable for Intangible Assets	76		92
Contract liabilities(1)	1,088		1,326



Other(3)	26		56
Total	$	1,190	$	1,474

(1)Contract liabilities comprises contract liabilities for payments received in advance of the satisfaction of performance obligations for wafers, as well as NRE services.

(2)Advances and deposits include advances from customers of $22 million (2022: $73 million) collected for purchase orders.

The following table presents the activities in contract liabilities for the years ended December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Beginning contract liabilities balance	$	1,918	$	1,901
Cash receipts in advance of satisfaction of performance obligations	805		1,189
Released to the consolidated statements of operations (1)	(759)		(951)
Amounts credited to customers	—		(221)
Other(2)	19		—
Ending contract liabilities balance	$	1,983	$	1,918

Current	$	895	$	592
Non-current	1,088		1,326
Total	$	1,983	$	1,918

(2)Includes $19 million reclassification from accrued liabilities to contract liabilities.

Explanation of significant changes in contract assets and contract liabilities

The following table presents the activities in contract liabilities for the years ended December 31, 2023 and 2022:


(in millions)	December 31, 2023		December 31, 2022
Beginning contract liabilities balance	$	1,918	$	1,901
Cash receipts in advance of satisfaction of performance obligations	805		1,189
Released to the consolidated statements of operations (1)	(759)		(951)
Amounts credited to customers	—		(221)
Other(2)	19		—
Ending contract liabilities balance	$	1,983	$	1,918

Current	$	895	$	592
Non-current	1,088		1,326
Total	$	1,983	$	1,918

(2)Includes $19 million reclassification from accrued liabilities to contract liabilities.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Firm ID	1051
Auditor Name	KPMG LLP
Auditor Location	Singapore

Net Revenue - Disaggregated Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 7,392	$ 8,108	$ 6,585
Revenue recognized over time
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	471	445	357
Revenue recognized at a point in time
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	6,921	7,663	6,228
Wafer fabrication
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	6,820	7,627	6,204
Engineering and other services
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 572	$ 481	$ 381

Other Financial Assets And Liabilities - Financial Assets and Liabilities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) € / $ $ / uSD ¥ / $	Dec. 31, 2022 USD ($) € / $ $ / uSD ¥ / $
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	$ 2,319	$ 2,414
Currency risk
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	3,980	4,108
Currency risk \| Total Forward Contracts
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	1,444	1,935
Currency risk \| Euro forward contracts (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	$ 845	$ 1,203
Average Foreign Currency/ US$ \| € / $	0.91	0.94
Average Strike Price	0	0
Currency risk \| Singapore dollar forward contracts (receive Singapore$/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	$ 483	$ 496
Average Foreign Currency/ US$ \| $ / uSD	1.33	1.37
Average Strike Price	0	0
Currency risk \| Japanese yen forward contracts (receive Japanese yen/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	$ 116	$ 236
Average Foreign Currency/ US$ \| ¥ / $	140.20	127.22
Average Strike Price	0	0
Currency risk \| Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	$ 653	$ 795
Currency risk \| Interest rate swaps \| Minimum
Disclosure of financial assets and liabilities [Line Items]
Average Strike Price	0.00442	0.00382
Currency risk \| Interest rate swaps \| Maximum
Disclosure of financial assets and liabilities [Line Items]
Average Strike Price	0.01761	0.01731
Currency risk \| Cross currency interest rate swaps (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	$ 519	$ 535
Average Foreign Currency/ US$ \| € / $	0.89	0.89
Currency risk \| Cross currency interest rate swaps (receive euros/pay US$) \| Minimum
Disclosure of financial assets and liabilities [Line Items]
Average Strike Price	0.03834	0.03834
Currency risk \| Cross currency interest rate swaps (receive euros/pay US$) \| Maximum
Disclosure of financial assets and liabilities [Line Items]
Average Strike Price	0.04182	0.04182
Currency risk \| Cross currency swaps (receive Singapore $/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	$ 1,127	$ 796
Average Foreign Currency/ US$ \| $ / uSD	1.37	1.37
Currency risk \| Cross currency swaps (receive Singapore $/pay US$) \| Minimum
Disclosure of financial assets and liabilities [Line Items]
Average Strike Price	0.0183	0.01830
Currency risk \| Cross currency swaps (receive Singapore $/pay US$) \| Maximum
Disclosure of financial assets and liabilities [Line Items]
Average Strike Price	0.01941	0.01941
Currency risk \| Commodity swaps
Disclosure of financial assets and liabilities [Line Items]
Notional Amount	$ 237	$ 47
Average Foreign Currency/ US$ \| € / $	0.91
Average Strike Price	73.59	512.56
Currency risk \| Other Current Financial Liabilities
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	$ (42)	$ (61)
Currency risk \| Other Current Financial Liabilities \| Total Forward Contracts
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	(12)	(53)
Currency risk \| Other Current Financial Liabilities \| Euro forward contracts (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	(4)	(32)
Currency risk \| Other Current Financial Liabilities \| Singapore dollar forward contracts (receive Singapore$/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	(1)	(1)
Currency risk \| Other Current Financial Liabilities \| Japanese yen forward contracts (receive Japanese yen/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	(7)	(20)
Currency risk \| Other Current Financial Liabilities \| Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	0
Currency risk \| Other Current Financial Liabilities \| Cross currency interest rate swaps (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	(3)	0
Currency risk \| Other Current Financial Liabilities \| Cross currency swaps (receive Singapore $/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	0
Currency risk \| Other Current Financial Liabilities \| Commodity swaps
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	(27)	(8)
Currency risk \| Other Non-current Financial Liabilities
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	(14)	(5)
Currency risk \| Other Non-current Financial Liabilities \| Total Forward Contracts
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	0
Currency risk \| Other Non-current Financial Liabilities \| Euro forward contracts (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	0
Currency risk \| Other Non-current Financial Liabilities \| Singapore dollar forward contracts (receive Singapore$/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	0
Currency risk \| Other Non-current Financial Liabilities \| Japanese yen forward contracts (receive Japanese yen/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	0
Currency risk \| Other Non-current Financial Liabilities \| Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	0
Currency risk \| Other Non-current Financial Liabilities \| Cross currency interest rate swaps (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	(3)
Currency risk \| Other Non-current Financial Liabilities \| Cross currency swaps (receive Singapore $/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	0	0
Currency risk \| Other Non-current Financial Liabilities \| Commodity swaps
Disclosure of financial assets and liabilities [Line Items]
Financial liabilities, at fair value	(14)	(2)
Currency risk \| Other Current Financial Assets
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	52	79
Currency risk \| Other Current Financial Assets \| Total Forward Contracts
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	28	79
Currency risk \| Other Current Financial Assets \| Euro forward contracts (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	14	46
Currency risk \| Other Current Financial Assets \| Singapore dollar forward contracts (receive Singapore$/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	8	15
Currency risk \| Other Current Financial Assets \| Japanese yen forward contracts (receive Japanese yen/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	6	18
Currency risk \| Other Current Financial Assets \| Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	17	0
Currency risk \| Other Current Financial Assets \| Cross currency interest rate swaps (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	5	0
Currency risk \| Other Current Financial Assets \| Cross currency swaps (receive Singapore $/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	0	0
Currency risk \| Other Current Financial Assets \| Commodity swaps
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	2	0
Currency risk \| Other Non-current Financial Assets
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	80	98
Currency risk \| Other Non-current Financial Assets \| Total Forward Contracts
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	1	3
Currency risk \| Other Non-current Financial Assets \| Euro forward contracts (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	0	3
Currency risk \| Other Non-current Financial Assets \| Singapore dollar forward contracts (receive Singapore$/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	0	0
Currency risk \| Other Non-current Financial Assets \| Japanese yen forward contracts (receive Japanese yen/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	1	0
Currency risk \| Other Non-current Financial Assets \| Interest rate swaps
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	5	42
Currency risk \| Other Non-current Financial Assets \| Cross currency interest rate swaps (receive euros/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	1	2
Currency risk \| Other Non-current Financial Assets \| Cross currency swaps (receive Singapore $/pay US$)
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	73	51
Currency risk \| Other Non-current Financial Assets \| Commodity swaps
Disclosure of financial assets and liabilities [Line Items]
Financial assets, at fair value	$ 0	$ 0