Financial Analysis

11. COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, various lawsuits, claims, and proceedings have been, and may in the future be, instituted or asserted against the Company, including those pertaining to patent infringement, intellectual property, securities litigation, environmental hazards, product liability and warranty, safety and health, employment, and contractual matters. The semiconductor industry is characterized by vigorous protection and pursuit of intellectual property rights. From time to time, third parties have asserted and may in the future assert patent, copyright, trademark, and other intellectual property rights to technologies that are important to the Companys business and have demanded and may in the future demand that the Company license their technology. The outcome of any such litigation cannot be predicted with certainty and some such lawsuits, claims, or proceedings may be disposed of unfavorably to the Company. Generally speaking, intellectual property disputes often have a risk of injunctive relief, which, if imposed against the Company, could materially and adversely affect the Companys financial condition or results of operations. From time to time the Company may also be involved in legal proceedings in the ordinary course of business. The Company monitors the status of legal proceedings and other contingencies on an ongoing basis to assess whether loss contingencies should be recognized and disclosed in its financial statements …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

16. DEBT Debt consists of the following (in millions, except percentages): Effective Interest Rate As of October 3, 2025 September 27, 2024 1.80% Senior Notes due 2026 1.97 % $ 500.0 $ 500.0 3.00% Senior Notes due 2031 3.13 % 500.0 500.0 Unamortized debt discount and issuance costs (4.2) (5.7) Total debt 995.8 994.3 Less: current portion of long-term debt (499.4) Total long-term debt $ 496.4 $ 994.3 Senior Notes On May 26, 2021, the Company issued $500.0 million of its 0.90% Senior Notes due 2023 (the 2023 Notes), $500.0 million of its 1.80% Senior Notes due 2026 (the 2026 Notes), and $500.0 million of its 3.00% Senior Notes due 2031 (the 2031 Notes and, together with the 2026 Notes, the Notes). During fiscal 2023, the Company repaid $500.0 million of the 2023 Notes at maturity. The Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of its existing and future senior unsecured debt but effectively junior to any of the Companys senior secured debt to the extent of the value of collateral securing such debt and are structurally subordinated to all existing and future obligations of the Companys subsidiaries. The Notes will mature on each respective maturity date, unless earlier redeemed in accordance with their terms. Interest on the Notes is payable on June 1 and December 1 of each year. The Company may redeem all or a portion of the 2026 Notes and the 2031 Notes at any time and from time to time prior to maturity, in whole or in …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Net revenue by sales channel is as follows (in millions): Fiscal Years Ended October 3, 2025 September 27, 2024 September 29, 2023 Distributors $ 3,525.6 $ 3,622.6 $ 4,235.7 Direct customers 561.3 555.4 536.7 Total net revenue $ 4,086.9 $ 4,178.0 $ 4,772.4

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4. FAIR VALUE Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis The Company measures certain assets and liabilities at fair value on a recurring basis such as its financial instruments. There have been no transfers between Level 1, 2, or 3 assets or liabilities during fiscal 2025 . Assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions): As of October 3, 2025 September 27, 2024 Fair Value Measurements Fair Value Measurements Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets Cash and cash equivalents (1) $ 1,161.3 $ 1,120.3 $ 41.0 $ $ 1,368.6 $ 1,199.1 $ 169.5 $ U.S. Treasury and government securities 126.6 109.1 17.5 50.1 36.5 13.6 Corporate bonds and notes 100.5 100.5 155.3 155.3 Municipal bonds 0.1 0.1 Total assets at fair value $ 1,388.4 $ 1,229.4 $ 159.0 $ $ 1,574.1 $ 1,235.6 $ 338.5 $ (1) Cash equivalents included in Levels 1 and 2 consist of money market funds, municipal bonds, corporate bonds and notes, and U.S. Treasury and government securities purchased with less than ninety days until maturity. Assets Measured and Recorded at Fair Value on a Nonrecurring Basis The Companys non-financial assets and liabilities, such as goodwill, intangible assets, and other long-lived assets resulting from business combinations, are measured at fair value using income approach valuation methodologies at the date of acquisition and are subsequently re-measured if there are indicators of …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

7. GOODWILL AND INTANGIBLE ASSETS The Companys goodwill balance was $2,176.7 million as of each of October 3, 2025, and September 27, 2024. In fiscal 2025, the Company performed an impairment test of its goodwill and its indefinite-lived intangible assets as of the first day of the fourth fiscal quarter in accordance with its regularly scheduled testing. The results of these tests indicated that the Companys goodwill was not impaired. There were no indicators of IPR&D impairment noted in fiscal 2025 and fiscal 2023. Refer to Note 4 for a discussion of IPR&D impairments of $146.7 million in fiscal 2024. Intangible assets consist of the following (in millions): As of Weighted Average Amortization Period (Years) October 3, 2025 September 27, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology and other 6.4 $ 1,396.5 $ (678.5) $ 718.0 $ 1,379.6 $ (540.7) $ 838.9 Technology licenses 3.1 167.0 (78.8) 88.2 75.0 (48.8) 26.2 In-process research and development 2.8 2.8 35.4 35.4 Total intangible assets $ 1,566.3 $ (757.3) $ 809.0 $ 1,490.0 $ (589.5) $ 900.5 Fully amortized intangible assets are eliminated from both the gross and accumulated amortization amounts in the first quarter of each fiscal year. During fiscal 2025, $32.6 million of IPR&D assets were transferred to definite-lived intangible assets and are being amortized over their useful lives of 8 years. Durin …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

8. INCOME TAXES Income before income taxes consists of the following components (in millions): Fiscal Years Ended October 3, 2025 September 27, 2024 September 29, 2023 United States $ 133.5 $ 1.9 $ 484.9 Foreign 393.2 634.5 593.9 Income before income taxes $ 526.7 $ 636.4 $ 1,078.8 The provision for income taxes consists of the following components (in millions): Fiscal Years Ended October 3, 2025 September 27, 2024 September 29, 2023 Current tax expense: Federal $ 45.3 $ 79.0 $ 164.4 State 0.1 0.2 0.1 Foreign 59.5 60.8 74.4 104.9 140.0 238.9 Deferred tax expense (benefit): Federal (80.8) (120.5) (102.4) State (0.5) (0.1) Foreign 25.5 21.4 (40.4) (55.3) (99.6) (142.9) Provision for income taxes $ 49.6 $ 40.4 $ 96.0 The actual income tax expense is different than that which would have been computed by applying the federal statutory tax rate to income before income taxes. A reconciliation of income tax expense as computed at the United States federal statutory income tax rate to the provision for income tax expense is as follows (in millions): Fiscal Years Ended October 3, 2025 September 27, 2024 September 29, 2023 Tax expense at United States statutory rate $ 110.6 $ 133.6 $ 226.5 Foreign tax rate difference (22.0) (84.7) (90.7) Effect of stock compensation 10.2 11.3 16.0 Research and development credits (44.5) (28.7) (29.7) Change in tax reserve (1.4) 11.1 8.1 Global Intangible Low-Taxed Income 4.0 18.1 16.3 Foreign Derived Intangible Income (44.7) (49.3) (65.9) Section 162(m …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

10. LEASES The Companys lease arrangements consist primarily of corporate, manufacturing, design, and other facility agreements as well as various machinery and office equipment agreements. The leases expire at various dates through 2061, some of which include options to extend the lease term. The longest potential remaining lease term consists of a 36 year land lease in Osaka, Japan. During fiscal 2025, fiscal 2024, and fiscal 2023, the Company recorded $39.5 million, $35.5 million, and $39.8 million of operating lease expense, and $15.2 million, $20.6 million, and $19.2 million of variable lease expense, respectively. Supplemental cash information and non-cash activities related to operating leases are as follows (in millions): Fiscal Year Ended October 3, 2025 September 27, 2024 September 29, 2023 Operating cash outflows from operating leases $ 38.3 $ 35.4 $ 34.0 Operating lease assets obtained in exchange for new lease liabilities $ 31.3 $ 16.2 $ 11.1 Operating leases are classified as follows (in millions): As of October 3, 2025 September 27, 2024 Other current liabilities $ 36.8 $ 20.2 Long-term operating lease liabilities 170.5 185.9 Total lease liabilities $ 207.3 $ 206.1 Maturities of lease liabilities under operating leases by fiscal year are as follows (in millions): As of October 3, 2025 2026 $ 37.1 2027 38.7 2028 34.5 2029 31.5 2030 20.5 Thereafter 89.8 Total lease payments 252.1 Less: imputed interest (44.8) Present value of lease liabilities 207.3 Less: current …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure (ASU 2023-07). ASU 2023-07 requires disclosure of incremental segment information on an annual and interim basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. The Company adopted ASU 2023-07 during the fourth quarter of fiscal 2025. Refer to Note 14 for additional information. The adoption of ASU 2023-07 did not have a significant impact on the Companys consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, on either a prospective or retrospective basis, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Stat …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

14. SEGMENT INFORMATION AND CONCENTRATIONS The Company has a single reportable operating segment which designs, develops, manufactures, and markets similar proprietary semiconductor products, including intellectual property. In reaching this conclusion, management considers the definition of the chief operating decision maker (CODM), how the business is defined by the CODM, the nature of the information provided to the CODM, and how that information is used to make operating decisions, allocate resources, and assess performance. The Companys CODM is the president and chief executive officer. The results of operations provided to and analyzed by the CODM are at the consolidated level and accordingly, key resource decisions and assessment of performance are performed at the consolidated level. Specifically, the CODM uses net income that is reported on the Consolidated Statement of Operations and cash provided by operating activities as reported in the Consolidated Statements of Cash Flows to evaluate overall profitability and guide decisions regarding reinvestment in operations, shareholder returns, and other strategic initiatives. Significant expense categories regularly provided to and reviewed by the CODM are presented in the Companys consolidated financial statements. The Company assesses its determination of operating segments at least annually. Disaggregation of Revenue and Geographic Information The Company presents net revenue by geographic area, based upon the location …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

9. STOCKHOLDERS EQUITY Common Stock At October 3, 2025, the Company is authorized to issue 525.0 million shares of common stock, par value $0.25 per share, of which 148.7 million shares are issued and outstanding. Holders of the Companys common stock are entitled to dividends in the event declared by the Companys Board of Directors out of funds legally available for such purpose. Dividends may not be paid on common stock unless all accrued dividends on preferred stock, if any, have been paid or declared and set aside. In the event of the Companys liquidation, dissolution, or winding up, the holders of common stock will be entitled to share pro rata in the assets remaining after payment to creditors and after payment of the liquidation preference plus any unpaid dividends to holders of any outstanding preferred stock. Each holder of the Companys common stock is entitled to one vote for each such share outstanding in the holders name. No holder of common stock is entitled to cumulate votes in voting for directors. The Companys restated certificate of incorporation as amended to date (the Certificate of Incorporation) provides that, unless otherwise determined by the Companys Board of Directors, no holder of stock has any preemptive right to purchase or subscribe for any stock of any class which the Company may issue or sell. Preferred Stock The Companys Certificate of Incorporation has authorized and permits the Company to issue up to 25.0 million shares of preferred stock with …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

17. SUBSEQUENT EVENT Merger Agreement with Qorvo On October 27, 2025, Skyworks and Qorvo announced that the companies entered into the Merger Agreement to combine the two companies in a cash-and-stock transaction. Under the terms of this agreement, Qorvo shareholders will receive 0.960 of a share of Skyworks common stock and $32.50 per share in cash upon the completion of the transaction, representing a combined company enterprise value of approximately $22.0 billion based on market close on October 27, 2025. The transaction is currently expected to close early in calendar year 2027, subject to receipt of regulatory approvals, certain approvals of Qorvo and Skyworks shareholders, and satisfaction of other customary closing conditions. The Merger Agreement contains certain termination rights for each of Skyworks and Qorvo. Under specified circumstances, including termination by a party to accept a superior proposal or termination by the other party upon a change in such partys board of directors recommendation to its stockholders, each of Qorvo and Skyworks will be required to pay the other party a termination fee of $298.7 million, as more fully described in the Merger Agreement. Alternatively, under certain specified circumstances, including termination following an injunction arising in connection with certain antitrust or foreign investment laws, or failure to receive certain required regulatory approvals of specified governmental authorities, Skyworks will be required to …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

13. PENDING TRANSACTION WITH QORVO On October 27, 2025, the Company entered into an Agreement and Plan of Merger (Merger Agreement) with Qorvo, Inc. (Qorvo), Comet Acquisition Corp. (Merger Sub I), and Comet Acquisition II, LLC (Merger Sub II) in a cash-and-stock transaction, pursuant to which Merger Sub I will be merged with and into Qorvo (the First Merger), with Qorvo as the surviving entity in the First Merger (the Surviving Corporation) and the Surviving Corporation continuing as a wholly owned subsidiary of the Company, and immediately following the First Merger, and as the second step in a single integrated transaction with the First Merger, the Surviving Corporation will be merged with and into Merger Sub II (the Second Merger, and together with the First Merger, the Mergers), with Merger Sub II as the surviving entity in the Second Merger and a wholly owned subsidiary of the Company. Under the terms of the Merger Agreement, Qorvo stockholders will receive 0.960 of a share of Skyworks common stock and $32.50 per share in cash upon the completion of the transaction, representing a combined company enterprise value of approximately $22.0 billion based on market close on October 27, 2025. The transaction will close after receipt of regulatory approvals, certain approvals of Qorvo and Skyworks stockholders, and satisfaction of other customary closing conditions. The Company is increasingly hopeful that the transaction will close within the calendar year and will be prepar …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

9. COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, various lawsuits, claims, and proceedings have been, and may in the future be, instituted or asserted against the Company, including those pertaining to patent infringement, intellectual property, securities litigation, environmental hazards, product liability and warranty, safety and health, employment, and contractual matters. The semiconductor industry is characterized by vigorous protection and pursuit of intellectual property rights. From time to time, third parties have asserted and may in the future assert patent, copyright, trademark, and other intellectual property rights to technologies that are important to the Companys business and have demanded and may in the future demand that the Company license their technology. The outcome of any such litigation cannot be predicted with certainty and some such lawsuits, claims, or proceedings may be disposed of unfavorably to the Company. Generally speaking, intellectual property disputes often have a risk of injunctive relief, which, if imposed against the Company, could materially and adversely affect the Companys financial condition or results of operations. From time to time the Company may also be involved in legal proceedings in the ordinary course of business. The Company monitors the status of legal proceedings and other contingencies on an ongoing basis to assess whether loss contingencies should be recognized and disclosed in its financial statements …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

14. DEBT Senior Notes On May 26, 2021, the Company issued $500.0 million of its 0.90% Senior Notes due 2023 (the 2023 Notes), $500.0 million of its 1.80% Senior Notes due 2026 (the 2026 Notes), and $500.0 million of its 3.00% Senior Notes due 2031 (the 2031 Notes). The Company repaid $500.0 million of the 2023 Notes and $500.0 million of the 2026 Notes at maturity during fiscal 2023 and during the three and nine months ended July 3, 2026, respectively. The 2031 Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of the Companys existing and future senior unsecured debt, but effectively junior to any of the Companys senior secured debt to the extent of the value of collateral securing such debt, and are structurally subordinated to all existing and future obligations of the Companys subsidiaries. The 2031 Notes will mature on their maturity date, unless earlier redeemed in accordance with their terms. Interest on the 2031 Notes is payable on June 1 and December 1 of each year. The Company may redeem all or a portion of the 2031 Notes at any time and from time to time prior to maturity, in whole or in part, for cash at the applicable redemption prices set forth in the respective supplemental indenture. If the Company undergoes a change of control repurchase event, as defined in the indenture governing the 2031 Notes (as supplemented, the Indenture), holders may require the Company to repurchase the 2031 Notes in whole or in part f …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Net revenue by sales channel is as follows (in millions): Three Months Ended Nine Months Ended July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 Distributors $ 775.2 $ 816.8 $ 2,506.6 $ 2,590.2 Direct customers 159.6 148.2 407.3 396.5 Total net revenue $ 934.8 $ 965.0 $ 2,913.9 $ 2,986.7

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4. FAIR VALUE Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis The Company groups its financial assets and liabilities measured at fair value on a recurring basis in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less-active markets), or model-driven valuations in which all significant inputs are observable or can be derived principally from, or corroborated with, observable market data. Level 3 - Fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including assumptions and judgments made by the Company. Assets and liabilities recorded at fair value on a recurring basis consisted of the following (in millions): As of July 3, 2026 October 3, 2025 Fair Value Measurements Fair Value Measurements Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets Cash and cash equivalents (1) $ 790.0 $ 789.9 $ 0.1 $ $ 1,161.3 $ 1,120.3 $ 41.0 $ U.S. Treasury and government securities 19.7 4.7 15.0 126.6 109.1 17.5 Corporate bonds and notes 3.7 3.7 100.5 100.5 Municipal bonds 0.4 0.4 Non-qualified deferred compensa …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

7. GOODWILL AND INTANGIBLE ASSETS There were no changes to the carrying amount of goodwill during the three and nine months ended July 3, 2026. The Company tests its goodwill and its indefinite-lived intangible assets for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value may be impaired. There were no indicators of goodwill and in-process research and development (IPR&D) impairment noted during the three and nine months ended July 3, 2026 and June 27, 2025. Intangible assets consist of the following (in millions): As of Weighted Average Amortization Period (Years) July 3, 2026 October 3, 2025 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology and other 6.4 $ 1,396.5 $ (785.0) $ 611.5 $ 1,396.5 $ (678.5) $ 718.0 Technology licenses 3.2 106.8 (42.3) 64.5 167.0 (78.8) 88.2 In-process research and development 2.8 2.8 2.8 2.8 Total intangible assets $ 1,506.1 $ (827.3) $ 678.8 $ 1,566.3 $ (757.3) $ 809.0 Fully amortized intangible assets are eliminated from both the gross and accumulated amortization amounts in the first quarter of each fiscal year. There were no transfers of IPR&D assets to definite-lived intangible assets during the three and nine months ended July 3, 2026 and the three months ended June 27, 2025. During the nine months ended June 27, 2025, $24.7 million of …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

8. INCOME TAXES The provision for income taxes consists of the following components (in millions): Three Months Ended Nine Months Ended July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 Provision for income taxes $ 14.9 $ 7.0 $ 55.2 $ 69.0 Effective tax rate 30.5 % 6.3 % 27.1 % 17.0 % The difference between the Companys effective tax rate and the 21.0% United States federal statutory rate for the three and nine months ended July 3, 2026 resulted primarily from tax on global intangible low-taxed income (GILTI), net of foreign tax credits, tax expense related to share-based compensation shortfalls and uncertain tax positions, and transaction costs related to the pending transaction with Qorvo (see Note 13), partially offset by foreign earnings taxed at rates lower than the federal statutory rate and tax benefits from foreign-derived intangible income deduction (FDII), and research and experimentation tax credits. The difference between the Companys effective tax rate and the 21.0% United States federal statutory rate for the three and nine months ended June 27, 2025 resulted primarily from foreign earnings taxed at rates lower than the federal statutory rate, a benefit from FDII, and research and experimentation and foreign tax credits earned, partially offset by a tax on GILTI, and tax expense related to share-based compensation shortfalls. In August 2022, the U.S. government enacted the Inflation Reduction Act, which imposes a corporate alternative minimum tax (CAMT) of 1 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, on either a prospective or retrospective basis, with early adoption permitted. The Company will provide the required disclosures of ASU 2023-09 in its fiscal 2026 annual report. In November 2024, the FASB issued ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03). ASU 2024-03 requires disaggregated disclosure of certain expense captions into specified categories in the notes to financial statements on an annual and interim basis. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual periods beginning after December 15, 2027, on either a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2024-03 on its consolidated financial statements and related disclosures. In September 2025, the FASB issued ASU 2025-06, IntangiblesGoodwil …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

2. REVENUE RECOGNITION The Company presents net revenue by geographic area, based upon the location of the original equipment manufacturers (OEMs) headquarters, and by sales channel, as it believes that doing so best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Individually insignificant OEMs are presented based upon the location of the Companys direct customer, which is typically a distributor. Net revenue by geographic area is as follows (in millions): Three Months Ended Nine Months Ended July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 United States $ 704.9 $ 724.7 $ 2,198.0 $ 2,295.5 Taiwan 72.5 75.8 229.1 195.6 China 66.6 64.6 191.5 193.7 South Korea 35.9 45.5 136.2 140.0 Europe, Middle East, and Africa 45.3 44.4 130.9 133.1 Other Asia-Pacific 9.6 10.0 28.2 28.8 Total net revenue $ 934.8 $ 965.0 $ 2,913.9 $ 2,986.7 Net revenue by sales channel is as follows (in millions): Three Months Ended Nine Months Ended July 3, 2026 June 27, 2025 July 3, 2026 June 27, 2025 Distributors $ 775.2 $ 816.8 $ 2,506.6 $ 2,590.2 Direct customers 159.6 148.2 407.3 396.5 Total net revenue $ 934.8 $ 965.0 $ 2,913.9 $ 2,986.7 The Companys revenue from external customers is generated principally from the sale of semiconductor products. Accordingly, the Company considers its product offerings to be similar in nature and therefore not segregated for reporting purposes. …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

10. STOCKHOLDERS EQUITY Stock Repurchase and Retirement On February 4, 2025, the Board of Directors approved a stock repurchase program (February 2025 stock repurchase program), pursuant to which the Company was authorized to repurchase up to $2.0 billion of its common stock from time to time through February 3, 2027, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. During each of the three and nine months ended July 3, 2026, the Company did not repurchase any shares of its common stock under the February 2025 stock repurchase plan. As of July 3, 2026, approximately $1.2 billion remained available under the February 2025 stock repurchase program. During the three and nine months ended June 27, 2025, the Company repurchased 5.2 million and 12.6 million shares of its common stock for $333.4 million and $837.7 million (including commissions and excise tax, as applicable) under the February 2025 stock repurchase plan, respectively. On July 27, 2026, the Board of Directors terminated the February 2025 stock repurchase program and approved a new stock repurchase program (July 2026 stock repurchase program), pursuant to which the Company is authorized to repurchase up to $2.0 billion of its common stock from time to time through January 31, 2029, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. The July 2026 sto …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing