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Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net revenues	$ 12,761	$ 10,219	$ 9,556
Cost of sales	(7,435)	(6,430)	(5,860)
Gross profit	5,326	3,789	3,696
Selling, general and administrative	(1,323)	(1,109)	(1,093)
Research and development	(1,723)	(1,548)	(1,498)
Other income and expenses, net	141	202	103
Impairment, restructuring charges and other related closure costs	(2)	(11)	(5)
Operating income	2,419	1,323	1,203
Interest income (expense), net	(29)	(20)	1
Other components of pension benefit costs	(10)	(12)	(16)
Income (loss) on equity-method investments		2	1
Loss on financial instruments, net	(43)	(26)
Income before income taxes and noncontrolling interest	2,337	1,267	1,189
Income tax expense	(331)	(159)	(156)
Net income	2,006	1,108	1,033
Net income attributable to noncontrolling interest	(6)	(2)	(1)
Net income attributable to parent company stockholders	$ 2,000	$ 1,106	$ 1,032
Earnings per share (Basic) attributable to parent company stockholders	$ 2.21	$ 1.24	$ 1.15
Earnings per share (Diluted) attributable to parent company stockholders	$ 2.16	$ 1.20	$ 1.14
Net Sales [Member]
Net revenues	$ 12,729	$ 10,181	$ 9,529
Other Revenues [Member]
Net revenues	$ 32	$ 38	$ 27

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 2,006	$ 1,108	$ 1,033
Other comprehensive income (loss), net of tax:
Currency translation adjustments arising during the period	(189)	203	(35)
Foreign currency translation adjustments	(189)	203	(35)
Net unrealized gains (losses) arising during the period	(1)		3
Net unrealized gains (losses) on securities	(1)		3
Net unrealized gains (losses) arising during the period	(79)	56	(37)
Reclassification adjustment for (gains) losses included in net income	(16)		69
Net unrealized gains (losses) on derivatives	(95)	56	32
Net gains (losses) arising during the period	57	(12)	(35)
Amortization of prior service cost included in net periodic pension cost	1	1	1
Defined benefit pension plans	58	(11)	(34)
Other comprehensive income (loss), net of tax	(227)	248	(34)
Comprehensive income (loss)	1,779	1,356	999
Less: comprehensive income (loss) attributable to noncontrolling interest	6	2	1
Comprehensive income (loss) attributable to the Company's stockholders	$ 1,773	$ 1,354	$ 998

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 3,225	$ 3,006
Short-term deposits	291	581
Marketable securities		133
Trade accounts receivable, net	1,759	1,465
Inventories	1,972	1,841
Other current assets	581	584
Total current assets	7,828	7,610
Goodwill	313	330
Other intangible assets, net	438	445
Property, plant and equipment, net	5,660	4,596
Non-current deferred tax assets	652	739
Long-term investments	10	10
Other non-current assets	639	724
Total non-current assets	7,712	6,844
Total assets	15,540	14,454
Current liabilities:
Short-term debt	143	795
Trade accounts payable	1,582	1,166
Other payables and accrued liabilities	1,101	966
Dividends payable to stockholders	55	42
Accrued income tax	68	84
Total current liabilities	2,949	3,053
Long-term debt	2,396	1,826
Post-employment benefit obligations	442	506
Long-term deferred tax liabilities	64	75
Other long-term liabilities	416	488
Total non-current liabilities	3,318	2,895
Total liabilities	6,267	5,948
Commitment and contingencies
Parent company stockholders' equity
Common stock (preferred stock: 540,000,000 shares authorized, not issued; common stock: Euro 1.04 par value, 1,200,000,000 shares authorized, 911,276,920 shares issued, 906,518,057 shares outstanding)	1,157	1,157
Additional paid-in capital	2,533	3,062
Retained earnings	5,223	3,599
Accumulated other comprehensive income	496	723
Treasury stock	(200)	(93)
Total parent company stockholders' equity	9,209	8,448
Noncontrolling interest	64	58
Total equity	9,273	8,506
Total liabilities and equity	$ 15,540	$ 14,454

Consolidated Balance Sheets (Parenthetical) - € / shares	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, shares authorized	540,000,000	540,000,000
Preferred stock, shares issued	0	0
Common stock, nominal value	€ 1.04	€ 1.04
Common stock, shares authorized	1,200,000,000	1,200,000,000
Common stock, shares issued	911,276,920	911,239,420
Common stock, shares outstanding	906,518,057	905,415,002

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]
Beginning Balance at Dec. 31, 2018	$ 6,424	$ 1,157	$ 2,843	$ (141)	$ 1,991	$ 509	$ 65
Contribution of noncontrolling interest	8						8
Business combination	61						61
Repurchase of noncontrolling interest	(61)		4				(65)
Repurchase of common stock	(250)			(250)
Stock-based compensation expense	145		145	63	(63)
Comprehensive income (loss):
Net income	1,033				1,032		1
Other comprehensive income (loss), net of tax	(34)					(34)
Comprehensive income (loss)	999
Dividends to noncontrolling interest	(2)						(2)
Dividends	(213)				(213)
Ending Balance at Dec. 31, 2019	7,111	1,157	2,992	(328)	2,747	475	68
Repurchase of common stock	(125)			(125)
Issuance of senior convertible bonds	184		184
Settlement of senior convertible bonds	(11)		(269)	258
Stock-based compensation expense	155		155	102	(102)
Comprehensive income (loss):
Net income	1,108				1,106		2
Other comprehensive income (loss), net of tax	248					248
Comprehensive income (loss)	1,356
Dividends to noncontrolling interest	(12)						(12)
Dividends	(152)				(152)
Ending Balance at Dec. 31, 2020	8,506	1,157	3,062	(93)	3,599	723	58
Repurchase of common stock	(485)			(485)
Settlement of senior convertible bonds	(530)		(750)	220
Stock-based compensation expense	221		221	158	(158)
Comprehensive income (loss):
Net income	2,006				2,000		6
Other comprehensive income (loss), net of tax	(227)					(227)
Comprehensive income (loss)	1,779
Dividends	(218)				(218)
Ending Balance at Dec. 31, 2021	$ 9,273	$ 1,157	$ 2,533	$ (200)	$ 5,223	$ 496	$ 64

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock [Member]
Dividends, per share	$ 0.24	$ 0.168	$ 0.24

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 2,006	$ 1,108	$ 1,033
Items to reconcile net income and cash flows from operating activities:
Depreciation and amortization	1,045	923	854
Interest and amortization of issuance costs on convertible bonds	36	44	38
Interest on settled convertible bonds	(40)	(41)
Loss on financial instruments, net	43	26
Non-cash stock-based compensation	221	155	145
Other non-cash items	(153)	(130)	(110)
Deferred income tax	45	(8)	25
(Income) loss on equity-method investments		(2)	(1)
Impairment, restructuring charges and other related closure costs, net of cash payments	2	(3)	(16)
Changes in assets and liabilities:
Trade receivables, net	(307)	(72)	(103)
Inventories	(188)	(84)	(142)
Trade payables	95	161	(14)
Other assets and liabilities, net	255	16	160
Net cash from operating activities	3,060	2,093	1,869
Cash flows used in investing activities:
Payment for purchase of tangible assets	(1,830)	(1,283)	(1,181)
Proceeds from sale of tangible assets	2	4	7
Proceeds from matured marketable securities	132		200
Net proceeds from (investment in) short-term deposits	290	(577)
Payment for purchase of intangible assets	(97)	(75)	(69)
Net payment for financial assets	(17)		(3)
Proceeds from sale of financial assets	2
Proceeds from sale of equity investments		1	1
Payment for business acquisitions, net of cash acquired		(113)	(127)
Net cash used in investing activities	(1,518)	(2,043)	(1,172)
Cash flows from (used in) financing activities:
Proceeds from long-term debt	788	4	281
Net proceeds from issuance of convertible bonds		1,567
Repayment of issued convertible bonds	(1,223)	(709)
Repayment of long-term debt	(134)	(184)	(144)
Repurchase of common stock	(485)	(125)	(250)
Dividends paid to stockholders	(205)	(168)	(214)
Dividends paid to noncontrolling interest	(6)	(6)	(2)
Proceeds from noncontrolling interest			3
Payment of withholding tax on vested shares	(49)	(31)	(17)
Net cash from (used in) financing activities	(1,314)	348	(343)
Effect of changes in exchange rates	(9)	1	(13)
Net cash increase	219	399	341
Cash, cash equivalents and restricted cash at beginning of the period	3,006	2,607	2,266
Cash, cash equivalents and restricted cash at end of the period	3,225	3,006	2,607
Supplemental cash information:
Interest paid	2	7	13
Income tax paid	$ 279	$ 138	$ 130

The Company

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

The Company

THE COMPANY

STMicroelectronics N.V. (the "Company") is registered in the Netherlands with its corporate legal seat in Amsterdam, the Netherlands, and its corporate headquarters located in Geneva, Switzerland.

The Company is a global independent semiconductor company that designs, develops, manufactures and markets a broad range of products, including discrete and standard commodity components, application-specific integrated circuits (“ASICs”), full custom devices and semi-custom devices and application-specific standard products (“ASSPs”) for analog, digital and mixed-signal applications. In addition, the Company participates in the manufacturing value chain of smartcard products, which includes the production and sale of both silicon chips and smartcards.

Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Accounting Policies

ACCOUNTING POLICIES

The accounting policies of the Company conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”). All balances and values in the current and prior periods are in millions of U.S. dollars, except share and per-share amounts. Under Article 35 of the Company’s Articles of Association, the financial year extends from January 1 to December 31, which is the period-end of each fiscal year.

2.1

Basis of presentation and consolidation

The Company's consolidated financial statements include the assets, liabilities, results of operations and cash flows of its wholly-owned and majority-owned subsidiaries, after elimination of intercompany transactions and balances. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases.

The Company assesses each investment in equity securities to determine whether the investee is a Variable Interest Entity (“VIE”). The Company consolidates the VIEs for which the Company is determined to be the primary beneficiary. The primary beneficiary of a VIE is the party that: (i) has the power to direct the most significant activities of the VIE and (ii) is obligated to absorb losses or has the rights to receive returns that would be considered significant to the VIE. Assets, liabilities, and the noncontrolling interest of newly consolidated VIEs are initially measured at fair value in the same manner as if the consolidation resulted from a business combination.

When the Company owns some, but not all, of the voting stock of a consolidated entity, the shares held by third parties represent a noncontrolling interest. The consolidated financial statements are prepared based on the total amount of assets and liabilities and income and expenses of the consolidated subsidiaries. However, the portion of these items that does not belong to the Company’s shareholders is reported in the line “Noncontrolling interest” of the consolidated financial statements.

When the Company owns some, but not all, of the voting stock of a consolidated entity, the shares held by third parties represent a noncontrolling interest. The consolidated financial statements are prepared based on the total amount of assets and liabilities and income and expenses of the consolidated subsidiaries. However, the portion of these items that does not belong to the Company’s shareholders is reported on the line “Noncontrolling interest” in the consolidated financial statements.

2.2

Use of estimates

The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions. The primary areas that require significant estimates and judgments by management include, but are not limited to:

•

sales allowances and returns,

•

inventory obsolescence reserves and normal manufacturing capacity thresholds to determine costs capitalized in inventory,

•

recognition and measurement of loss contingencies,

•

valuation at fair value of assets acquired and liabilities assumed on business acquisitions, and measurement of any contingent consideration,

•

annual and trigger-based impairment review of goodwill and intangible assets, as well as the assessment of events which could trigger impairment testing on long-lived assets,

•

assessment of the Company’s long-lived assets economic useful lives,

•

assumptions used in measuring expected credit losses and impairment charges on financial assets,

•

assumptions used in assessing the number of awards expected to vest on stock-based compensation plans,

•

assumptions used in calculating pension obligations and other long-term employee benefits,

•

allocation between debt and equity of the various components of an issued, or settled, hybrid instrument and measurement at fair value of the liability component based on the income approach, and

•

determination of the amount of tax expected to be paid and tax benefit expected to be received, including deferred income tax assets, valuation allowance and provisions for uncertain tax positions and claims.

The Company bases the estimates and assumptions on historical experience and on various other factors such as market trends, market information used by market participants and the latest available business plans that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities. While the Company regularly evaluates its estimates and assumptions, the actual results experienced by the Company could differ materially and adversely from those estimates. COVID-19 pandemic did not result in significant impacts on these estimates.

2.3

Foreign currency

The U.S. dollar is the reporting currency of the Company. The U.S. dollar is the currency of the primary economic environment in which the Company operates since the worldwide semiconductor industry uses the U.S. dollar as a currency of reference for actual pricing in the market. Furthermore, the majority of the Company’s transactions are denominated in U.S. dollars, and revenues from external sales in U.S. dollars largely exceed revenues in any other currency. However, certain significant costs are incurred in the countries of the Eurozone and other non-U.S. dollar currency areas.

The functional currency of each subsidiary of the Company is either the local currency or the U.S. dollar, depending on the basis of the economic environment in which each subsidiary operates. Foreign currency transactions, including operations in local currency when the U.S. dollar is the functional currency, are measured into the functional currency using the prevailing exchange rate. Foreign exchange gains and losses resulting from the re-measurement at reporting date of monetary assets and liabilities denominated in currencies other than the functional currency are recognized in the line “Other income and expenses, net” of the consolidated statements of income.

For consolidation purposes, the results and financial position of the subsidiaries whose functional currency is different from the U.S. dollar are translated into the reporting currency as follows:

(a)

assets and liabilities for each consolidated balance sheet presented are translated into U.S. dollars using exchange rates at the balance sheet dates;

(b)

income and expenses for each consolidated statement of income presented are translated into U.S dollars using the average monthly exchange rates;

(c)

the resulting exchange differences are reported as Currency Translation Adjustments (“CTA”), a component of “Other comprehensive income (loss)” in the consolidated statements of comprehensive income.

2.4

Cash and cash equivalents

Cash and cash equivalents include cash on hand, deposits held at call with external financial institutions and other short-term highly liquid investments with original maturities of three months or less. They are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.

Short-term deposits representing cash equivalent with original maturity beyond three months are reported as current assets in the line “Short-term deposits” of the consolidated balance sheets.

2.5

Trade accounts receivable

Trade accounts receivable are amounts due from customers for goods sold and services rendered to third parties in the ordinary course of business. The Company uses a lifetime expected losses allowance for all trade receivables. The allowance includes reasonable assumptions about future credit trends. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the Company’s customers to settle the receivables. Adjustments to the expected credit losses allowance are reported on the line “Selling, general and administrative” in the consolidated statements of income and write-offs, if any, are recorded against the expected credit losses allowance, consistent with prior guidance.

In the event of transfers of receivables such as factoring, the Company derecognizes the receivables only to the extent that the Company has surrendered control over the receivables in exchange for a consideration other than beneficial interest in the transferred receivables.

2.6

Inventories

Inventories are stated at the lower of cost and net realizable value. Cost is based on the weighted average cost of inventory, by adjusting standard cost to approximate actual manufacturing costs; the cost is therefore dependent on the Company’s manufacturing performance. In the case of underutilization of manufacturing facilities, the costs associated with unused capacity are not included in the valuation of inventories but charged directly to cost of sales. Net realizable value is based upon the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation.

The Company performs, on a continuous basis, write-offs of finished products, which have the characteristics of slow-moving, old production dates and technical obsolescence. The Company evaluates its inventory to identify obsolete or slow-selling items, as well as inventory that is not of saleable quality and records a specific reserve if the Company estimates the inventory will eventually become obsolete. Reserve for obsolescence is estimated for excess uncommitted inventory based on the previous quarters sales, order backlog and production plans.

2.7

Income taxes

Income tax for the period comprises current and deferred income tax. Current income tax represents the income tax expected to be paid or the tax benefit expected to be received related to the current year taxable profit and loss in each tax jurisdiction. Deferred income tax is recognized, using the liability method, for all temporary differences arising between the tax bases of assets and liabilities and their carrying amount in the consolidated financial statements. Deferred tax liabilities are not recognized on the initial recognition of goodwill as a result of a business combination. Deferred income tax is determined using tax rates and laws that are enacted at the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. The effect on deferred tax assets and liabilities from changes in tax laws and tax rates is recognized on the line “Income tax benefit (expense)” in the consolidated statements of income in the period in which the law is enacted. Deferred income tax assets are recognized in full but the Company assesses whether future taxable profit will be available against which temporary differences can be utilized. A valuation allowance is provided for deferred tax assets when management considers it is more likely than not that they will not be realized.

The Company recognizes a deferred tax liability on undistributed earnings of subsidiaries when there is a presumption that taxable earnings will be remitted to the parent. A deferred tax asset is recognized on compensation for the grant of stock awards to the extent that such charge constitutes a temporary difference in the subsidiaries’ local tax jurisdictions. Changes in the stock price do not result in any adjustments to the deferred tax asset prior to vesting.

At each reporting date, the Company assesses all significant income tax positions in all tax jurisdictions to determine any uncertain tax positions. The Company uses a two-step process for the evaluation of uncertain tax positions. The first step consists in assessing whether the tax benefit must be recognized. The second step consists in measuring the amount of tax benefit to be recognized on each uncertain tax position. In step 1 (recognition), the Company assesses whether a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination. Only tax positions with a sustainability threshold higher than 50% are recognized. In Step 2 (measurement), the Company determines the amount of recognizable tax benefit. The measurement methodology is based on a “cumulative probability” approach, resulting in the recognition of the largest amount that is greater than 50% likely of being realized upon settlement with the taxing authority. The Company accrues for interest and penalties on uncertain tax liabilities reported on the consolidated balance sheets. Interests and penalties are classified as components of income tax expense in the consolidated statements of income.

2.8

Business combinations and goodwill

The acquisition method of accounting is applied to all business combinations. The identifiable assets acquired, liabilities assumed, and equity instruments issued are measured at acquisition date fair value. Any contingent consideration is recorded at acquisition date fair value and remeasured at each reporting date. Acquisition-related transaction costs and restructuring costs related to the acquired business are expensed as incurred. Acquired in-process research and development (“IPR&D”) is capitalized and recorded as an intangible asset at acquisition date, subject to impairment testing until the research or development is completed. The excess of the consideration transferred over the acquisition-date fair value of the identifiable assets acquired and liabilities assumed, net of related deferred tax impacts, is recorded as goodwill. In case of a bargain purchase, the Company reassesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed, the noncontrolling interest in the acquiree, if any, the Company’s previously held equity interest in the acquiree, if any, and the consideration transferred. If after this review, a bargain purchase is still indicated, it is recognized in earnings attributable to parent company stockholders. The purchase of additional interests in a partially owned subsidiary is treated as an equity transaction as well as all transactions concerning the sale of subsidiary stock or the issuance of stock by the partially owned subsidiary, assuming there is no change in control of the subsidiary. In the case of a sale of subsidiary shares, whereby the Company no longer maintains control of the subsidiary, the Company recognizes a gain or loss in earnings.

Goodwill is carried at cost less accumulated impairment losses, if any. Goodwill is not amortized but is tested for impairment at least annually, and more frequently whenever events or changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. Goodwill subject to potential impairment is tested at the reporting unit level. The impairment test determines whether the fair value of each reporting unit under which goodwill is allocated is lower than the total carrying amount of relevant net assets allocated to such reporting unit, including its allocated goodwill. The Company records an impairment loss on goodwill when a reporting unit’s carrying value exceeds its fair value. Significant management judgments and estimates are used in forecasting the future discounted cash flows associated with the reporting unit, including: the applicable industry’s sales volume forecast and selling price evolution, the reporting unit’s market penetration and its revenues evolution, the market acceptance of certain new technologies and products, the relevant cost structure, the discount rates applied using a weighted average cost of capital and the perpetuity rates used in calculating cash flow terminal values.

2.9

Intangible assets with definite useful lives

Intangible assets subject to amortization include intangible assets purchased from third parties recorded at cost and intangible assets acquired in business combinations initially recorded at fair value. Amortization begins when the intangible asset is available for its intended use. Amortization reflects the pattern in which the asset’s economic benefits are consumed, which usually consists in applying the straight-line method to allocate the cost of the intangible assets over their estimated useful lives.

The carrying value of intangible assets with definite useful lives is evaluated whenever changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized in the line “Impairment, restructuring charges and other related closure costs” of the consolidated statements of income, for the amount by which the asset’s carrying amount exceeds its fair value. The Company evaluates the remaining useful life of an intangible asset at each reporting date to determine whether events and circumstances warrant a revision to the remaining period of amortization.

Technologies and licenses

Separately acquired technologies and licenses are recorded at historical cost. Technologies and licenses acquired in a business combination are initially recognized at acquisition date fair value. Technologies and licenses have a useful life which usually ranges from 3 to 8 years and are carried at cost less accumulated amortization and impairment losses, if any.

Computer software

Separately acquired computer software is recorded at historical cost. Costs associated with maintaining computer software programs are expensed as incurred and reported as “Cost of sales”, “Selling, general and administrative”, or “Research and development” in the consolidated statements of income according to their intended use. The capitalization of costs for internally generated software developed by the Company for its internal use begins when the preliminary project stage is completed and when the Company, implicitly or explicitly, authorizes and commits to funding a computer software project. It must be probable that the project will be completed and will be used to perform the function intended. Amortization of computer software begins when the software is available for its intended use and is calculated using the straight-line method over the estimated useful life, which does not exceed 4 years.

2.10

Property, plant and equipment

Property, plant and equipment are stated at historical cost, net of accumulated depreciation and any impairment losses. Property, plant and equipment acquired in a business combination are initially recognized at acquisition date fair value. Major additions and improvements are capitalized, while minor replacements and repairs are expensed and reported as “Cost of sales”, “Selling, general and administrative”, or “Research and development” in the consolidated statements of income according to their intended use.

Land is not depreciated. Depreciation on fixed assets is computed using the straight-line method over their estimated useful lives, as follows :

Buildings		33 years
Facilities and leasehold improvements		5-10 years
Machinery and equipment		2-10 years
Computer and R&D equipment		3-6 years
Other		2-5 years

Property, plant and equipment are periodically reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or a group of assets may not be recoverable. Several impairment indicators exist for making this assessment, such as: restructuring plans, significant changes in the technology, market, economic or legal environment in which the Company operates, available evidence of obsolescence of the asset, or indication that its economic performance is, or will be, worse than expected. In determining the recoverability of assets to be held and used, the Company initially assesses whether the carrying value of the tangible assets or group of assets exceeds the undiscounted cash flows associated with these assets. If exceeded, the Company then evaluates whether an impairment charge is required by determining if the asset’s carrying value also exceeds its fair value. This fair value is normally estimated by the Company based on independent market appraisals or the sum of discounted future cash flows, using market assumptions such as the utilization of the Company’s fabrication facilities and the ability to upgrade such facilities, change in the selling price and the adoption of new technologies. At each reporting date or when impairment indicators are identified, the Company also evaluates, and adjusts if appropriate, the assets’ useful lives.

When property, plant and equipment are retired or otherwise disposed of, the net book value of the assets is removed from the Company’s books. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are included in “Other income and expenses, net” in the consolidated statements of income.

The Company did not hold any significant assets held for sale as of December 31, 2021 and December 31, 2020.

2.11

Leases

A lease contract is a contract, or part of a contract, that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. If a lease is identified, classification between finance or operating is determined at lease commencement. Most leases entered into by the Company are operating leases. Operating lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The rate implicit in the lease should be used as a discount rate whenever that rate is readily determinable. In most cases, this rate is not readily determinable and therefore, the Company uses its incremental borrowing rate, which is derived from information available at the lease commencement date. The Company considers its recent debt issuances as well as publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. Operating lease right-of-use assets are based on the corresponding lease liability adjusted for any lease payments made at or before commencement, initial direct costs, and lease incentives.

Right-of-use assets are included in the line “Property, plant and equipment, net” of the consolidated balance sheet. Operating lease liabilities due within one year are included in the line “Other payables and accrued liabilities”, while noncurrent operating lease liabilities are included in the line “Other long-term liabilities” of the Company’s consolidated balance sheets. Operating lease expenses are recognized in the consolidated statements of income, on a straight-line basis over the lease period and reported as “Cost of sales”, “Selling, general and administrative”, or “Research and development”, according to the intended use of the leased asset.

Certain lease contracts contain options to extend the lease. On these contracts, the Company estimates the lease term by including the extended duration when it is reasonably certain for the Company to exercise that option. In addition, for short term leases, defined as leases with a term of twelve months or less, the Company elected the practical expedient to not recognize an associated lease liability and right-of-use asset. The short-term lease election is made at the commencement date only. Additionally, lease contracts with a sum of lease payments not exceeding $5,000 are excluded from recognition on the consolidated balance sheet.

The right-of-use asset is a nonmonetary asset while the lease liability is a monetary liability. When accounting for a lease that is denominated in a foreign currency, the lease liability is remeasured using the current exchange rate, while the right-of-use asset is measured using the historical exchange rate as of the commencement date.

The Company does not separate lease and non-lease components and instead accounts for each separate lease component and the non-lease components associated with that lease component as a single lease component.

Variable lease payments that depend on an index or a rate are included in the lease payments and are measured using the prevailing index or rate at the measurement date. Changes to index and rate-based variable lease payments are recognized in earnings in the period of the change.

2.12

Loss contingencies

In determining loss contingencies, the Company considers the likelihood of the incurrence of a liability as well as the ability to reasonably estimate the amount of such loss or liability. An estimated loss from a loss contingency is accrued when information available indicates that it is probable that a liability has been incurred at the date of the consolidated financial statements and when the amount of the loss can be reasonably estimated.

2.13

Long-term debt

(a)

Convertible debt

The Company evaluates, at initial recognition of a convertible debt, the different components and features of the hybrid instruments and determines whether certain elements are embedded derivative instruments which require bifurcation. Components of convertible debt instruments that may be settled in cash upon conversion based on a net-share settlement basis are accounted for separately as long-term debt and equity when the conversion feature of the convertible bonds constitute an embedded equity instrument. When an equity instrument is identified, proceeds from issuance are allocated between debt and equity by measuring first the liability component and then determining the equity component as a residual amount. The liability component is measured as the fair value of a similar non-convertible debt, which results in the recognition of a debt discount. In subsequent periods, the Company amortizes the debt discount through earnings in the line “Interest income (expense), net” of the consolidated statements of income, using the effective interest method, based on the contractual maturity

of the debt. The equity component, reported on the line “Additional paid-in capital” of the consolidated statement of equity, is not remeasured. Deferred taxes are recognized on the difference between the carrying amount of the liability component and its tax basis.

Debt issuance costs are reported as a deduction of debt. They are subsequently amortized through earnings on the line “Interest income (expense), net” of the consolidated statements of income, using the effective interest rate method.

In case of conversion from the bondholders, the fair value of the consideration transferred is allocated between the liability component and the equity component. The difference between the carrying amount of the debt at the settlement date and the fair value of the debt component is recorded in earnings as a loss on debt extinguishment and reported in the line “Loss on financial instruments, net” of the consolidated statements of income. The liability component is measured as the fair value of a similar non-convertible debt prior to settlement. The reacquired equity component is recorded in equity and reported on the line “Additional paid-in capital” of the consolidated statement of equity.

(b)

Bank loans

Bank loans and non-convertible senior bonds are recognized at the amount of cash proceeds received, net of debt issuance costs incurred. They are subsequently reported at amortized cost; any difference between the proceeds (net of debt issuance costs) and the principal amount is recognized through earnings on the line “Interest income (expense), net” of the consolidated statements of income over the period of the borrowings using the effective interest method.

2.14

Employee benefits

(a) Pension obligations

The Company sponsors various pension schemes for its employees. These schemes conform to local regulations and practices in the countries in which the Company operates. Such plans include both defined benefit and defined contribution plans. For defined benefit pension plans, the liability recognized in the consolidated balance sheets is the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets. The overfunded or underfunded status of the defined benefit plans are calculated as the difference between plan assets and the projected benefit obligations. Estimates are used in determining the assumptions incorporated in the calculation of the pension obligations, which is supported by input from independent actuaries. Actuarial gains and losses arising from changes in actuarial assumptions are recognized in “Accumulated other comprehensive income (loss)” in the consolidated statements of equity and are charged or credited to earnings over the employees’ expected average remaining working lives. Past service costs are recognized in “Accumulated other comprehensive income (loss)” in the consolidated statements of equity and are amortized on a straight-line basis over the vesting period. The net periodic benefit cost of the year is determined based on the assumptions used at the end of the previous year. Past service costs are recognized in earnings on the line “Other components of pension benefit costs” of the consolidated statements of income if the changes to the pension scheme are not conditional on the employees remaining in service for a specified period (the vesting period).

For defined contribution pension plans, the Company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Company has no further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expense when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available.

The service cost component of net periodic benefit costs is presented in the same income statement line as other employee compensation costs arising from services rendered during the period. The other components of the net periodic benefit cost are presented separately, outside operating income, on the line “Other components of pension benefit costs” of the consolidated statements of income. These elements include: interest cost; expected return on plan assets; amortization of transition (asset) obligation; amortization of prior service cost; amortization of net (gain) loss; (gain) loss recognized due to curtailment or settlement and; cost of special termination benefits.

(b) Other post-employment obligations

The Company provides post-employment benefits to some of its retirees. The entitlement to these benefits is usually conditional on the employee remaining in service up to retirement age and on the completion of a minimum service period. The expected costs of these benefits are accrued over the period of employment using an accounting methodology similar to that for defined benefit pension plans. Actuarial gains and losses arising from changes in actuarial assumptions are charged or credited to earnings over the expected average remaining working lives of the related employees.

Termination benefits are payable when an employee is involuntarily terminated, or whenever an employee accepts voluntary termination in exchange for termination benefits. For the accounting treatment and timing recognition of involuntary termination benefits, the Company distinguishes between one-time termination benefit arrangements and ongoing termination benefit arrangements. A one-time termination benefit arrangement is established by a termination plan and applies to a specified termination event. One-time involuntary termination benefits are recognized as a liability when the termination plan meets certain criteria and has been communicated to employees. If employees are required to render future service in order to receive these one-time termination benefits, the liability is recognized ratably over the future service period. Termination benefits other than one-time termination benefits are termination benefits for which the communication criterion is not met but that are committed to by management, or termination obligations that are not specifically determined in a new and single plan. These termination benefits are all legal, contractual and past practice termination obligations to be paid to employees in case of involuntary termination. These termination benefits are accrued for when commitment creates a present obligation to others for the benefits expected to be paid, when it is probable that employees will be entitled to the benefits and the amount can be reasonably estimated.

In case of special termination benefits related to voluntary redundancy programs, the Company recognizes a provision for voluntary termination benefits at the date on which the employee irrevocably accepts the offer and the amount can be reasonably estimated.

(d) Profit-sharing and bonus plans

The Company recognizes a liability and an expense for bonuses and profit-sharing plans when a contractual obligation exists or where there is a past practice that has created a present obligation.

(e) Other long-term employee benefits

The Company provides long-term employee benefits such as seniority awards in certain countries. The entitlement to these benefits is usually conditional on the employee completing a minimum service period. The expected costs of these benefits are accrued over the period of employment. Actuarial gains and losses arising from changes in actuarial assumptions are charged or credited to earnings in the period of the revised estimate. These obligations are valued annually with the assistance of independent qualified actuaries.

(f) Share-based compensation

The Company accounts for stock-based compensation for all stock-based awards granted to senior executives and selected employees, including awards that vest upon the satisfaction of a service condition and awards that vest upon the satisfaction of both a service condition and a performance condition. Both equity awards vest over a three-year service period while performance-based awards also require the Company’s attainment of certain performance conditions. The Company measures the cost of the awards based on the grant-date fair value of the awards, reflecting the market price of the underlying shares at the date of the grant, reduced by the present value of the dividends expected to be paid on the shares during the requisite service period. That cost is recognized using graded vesting over the period during which an employee is required to provide service in exchange for the award or the requisite service period. The compensation cost is recorded through earnings with the corresponding amount reported in equity, under “Additional paid-in capital” of the consolidated statements of equity. The compensation cost is calculated based on the number of awards expected to vest, net of an estimated number of awards to be forfeited due to the employees failing to satisfy the service condition or one or more performance conditions. Compensation is recognized only for the awards that ultimately vest.

Liabilities for the Company’s portion of payroll taxes are recognized at vesting, which is the event triggering the payment of the social contributions in most of the Company’s local tax jurisdictions. Employee-related social charges are measured based on the intrinsic value of the share and recorded at vesting date.

2.15

Share capital

Ordinary shares are classified as “Common stock” within equity on the consolidated balance sheets. Incremental costs directly attributable to the issuance of new shares or options are shown in equity as a deduction, net of tax, from the proceeds received.

Where the Company purchases its own equity share capital (treasury stock), the consideration paid, including any directly attributable incremental costs (net of income taxes), is deducted from parent company stockholders’ equity until the shares are cancelled, reissued, or disposed of.

2.16

Comprehensive income (loss)

Comprehensive income (loss) is defined as the change in equity of a business during a period except those changes resulting from investment by and distributions to stockholders. In the consolidated financial statements, "Other comprehensive income (loss)" and “Accumulated other comprehensive income” primarily consists of foreign currency translation adjustments, unrealized gains (losses) on debt securities classified as available-for-sale, unrealized gains (losses) on derivatives designated as cash flow hedge and the accounting for defined benefit plans as described in Note 2.14, net of tax.

2.17

Revenue recognition

Arrangements with customers are considered contracts if all the following criteria are met: (a) parties have approved the contract and are committed to perform their respective obligations; (b) each party’s rights regarding the goods or services to be transferred can be identified; (c) payment terms for the goods or services to be transferred can be identified; (d) the contract has commercial substance and (e) collectability of substantially all of the consideration is probable. The Company recognizes revenue from products sold to a customer, including distributors, when it satisfies a performance obligation by transferring control over a product to the customer. In certain circumstances, the Company may enter into agreements that concern principally revenues from services, where the performance obligation is satisfied over time. The objective when allocating the transaction price is to allocate the transaction price to each performance obligation (or distinct good or service) in an amount that depicts the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised goods or services to the customer. The payment terms typically range between 30 and 90 days.

Consistent with standard business practice in the semiconductor industry, price protection is granted to distribution customers on their existing inventory of the Company’s products to compensate them for changes in market prices. The Company accrues a provision for price protection based on a rolling historical price trend computed monthly as a percentage of gross distributor sales. This historical price trend represents differences in recent months between the invoiced price and the final price to the distributor, adjusted to accommodate a significant change in the selling price. The short outstanding inventory time, visibility into the inventory product pricing and long distributor pricing history have enabled the Company to reliably estimate price protection provisions at period-end. The Company records the accrued amounts as a deduction of “Net sales” in the consolidated statements of income at the time of the sale.

The Company’s customers occasionally return the Company’s products for technical reasons. The Company’s standard terms and conditions of sale provide that if the Company determines that products do not conform, the Company will repair or replace the non-conforming products, or issue a credit note or rebate of the purchase price. Quality returns are identified shortly after sale in customer quality control testing. Quality returns are usually associated with end-user customers, not with distribution channels. The Company records the accrued amounts as a deduction of “Net sales” in the consolidated statements of income, using historical and current conditions to form a reasonable estimate of future returns.

The Company records a provision for warranty costs as a charge against “Cost of sales” in the consolidated statements of income, based on historical trends of warranty costs incurred as a percentage of sales, which management has determined to be a reasonable estimate of the probable losses to be incurred for warranty claims in a period. Any potential warranty claims are subject to the Company’s determination that the Company is at fault for damages, and such claims usually must be submitted within a short period of time following the date of sale. This warranty is given in lieu of all other warranties, conditions or terms expressed or implied by statute or common law. The Company’s contractual terms and conditions typically limit its liability to the sales value of the products which gave rise to the claims.

The Company’s insurance policy relating to product liability covers third party physical damages and bodily injury, indirect financial damages as well as immaterial non-consequential damages caused by defective products.

In addition to product sales, the Company enters into arrangements with customers consisting in transferring licenses or related to license services. The revenue generated from these arrangements are reported on the line “Other revenues” of the consolidated statements of income. Other revenues also include patent royalty income, sale of scrap materials and manufacturing by-products.

2.18

Public funding

The Company receives funding mainly from governmental agencies and income is recognized when all contractual conditions for receipt of these funds are fulfilled. The Company’s primary sources for government funding are French, Italian and other country governmental entities. Such funding is generally provided to encourage research, development and other innovation activities, industrialization and local economic development. The conditions to receive government funding may include eligibility restrictions, approval by the European Union authorities, annual budget appropriations, compliance with European Commission regulations, as well as specifications regarding objectives and results. Certain specific contracts include obligations to maintain a minimum level of employment and investment during a certain period. There could be penalties if these objectives are not fulfilled. Other contracts contain penalties for late deliveries or for breach of contract, which may result in repayment obligations. Funding related to these contracts is recorded when the conditions required by the contracts are met. The Company’s funding programs are classified under three general categories: funding for research, development and other innovative activities, capital investment, and loans.

Funding for research, development and innovative activities is the most common form of funding that the Company receives. This public funding is recorded as “Other income and expenses, net” in the consolidated statements of income. The funding is recognized ratably as the related costs are incurred once the agreement with the respective governmental agency has been signed and all applicable conditions are met.

French research tax credits (“Crédit Impôt Recherche”) and Italian research tax credits (“Credito d’Imposta Ricerca & Sviluppo”) are deemed to be grants in substance. The French research tax credits are to be paid in cash by the taxing authorities within three years in case they are not deducted from income tax payable during this period of time. The Italian tax credits are compensated against payroll-related social charges. French and Italian tax credits are reported as a reduction of “Research and development” in the consolidated statements of income.

Capital investment funding is recorded as a reduction of “Property, plant and equipment, net” and is recognized in the Company’s consolidated statements of income by offsetting the depreciation charges of the funded assets during their useful lives. The Company also receives capital funding in Italy, which can be recovered through the reduction of various governmental liabilities, including income tax, value-added tax and employee-related social charges.

Funding receivables are reported as non-current assets unless cash settlement features of the receivables evidence that collection is expected within one year. Long-term receivables that do not present any tax attribute or legal restriction are reflected in the consolidated balance sheets at their net present value when the discounting effect is deemed to be significant.

The Company receives certain loans, mainly related to large capital investment projects, at preferential interest rates. These loans are reported in the line “Long-term debt” of the consolidated balance sheets.

2.19

Research and development

Research and development expenses include costs incurred by the Company, the Company’s share of costs incurred by other research and development interest groups, and costs associated with co-development contracts. Research and development expenses do not include marketing design center costs, which are accounted for as “Selling, general and administrative” in the consolidated statements of income and process engineering, pre-production or process transfer costs which are recorded as “Cost of sales” in the consolidated statements of income. Research and development costs are expensed as incurred. The amortization expense recognized on technologies and licenses purchased by the Company from third parties to facilitate the Company’s research and development activities is reported as “Research and development” in the consolidated statements of income.

2.20

Advertising costs

Advertising costs are expensed as incurred and are recorded as “Selling, general and administrative” in the consolidated statements of income. Advertising expenses for 2021, 2020 and 2019 were $14 million, $12 million and $17 million, respectively.

2.21

Start-up and phase-out costs

Start-up costs represent costs incurred in the ramp-up phase of the Company's newly integrated manufacturing facilities. The costs of phase-outs are associated with the latest stages of facilities closure when the relevant production volumes become immaterial. Start-up costs and phase-out costs are included in the line "Other income and expenses, net" of the consolidated statements of income.

2.22

Investments in equity securities

Investments in equity securities that have readily determinable fair values and for which the Company does not have the ability to exercise significant influence are classified as equity securities measured at fair value through earnings. Changes in the fair value of these securities are reported in the consolidated statements of income within “Other income and expenses, net” when these instruments are held within the Company’s operating activities. Gains and losses arising from changes in the fair value of securities not related to operating activities are presented in the consolidated statements of income as non-operating elements within “Gain (loss) on financial instruments, net” in the period in which they arise.

For investments in equity securities without readily determinable fair values and for which the Company does not have the ability to exercise significant influence, the Company has elected to apply the cost method as a measurement alternative. Under the cost method of accounting, investments are carried at historical cost, less impairment, adjusted for subsequent observable price changes. An impairment loss is recorded when there are identified events or changes in circumstances that may have a significant adverse effect on the value of the investment. Loss is immediately recorded in the consolidated statements of income on the line “Gain (loss) on financial instruments, net” and is based on the Company’s assessment of any significant and sustained reductions in the investment’s value. Gains and losses on investments sold are determined on the specific identification method and are recorded as non-operatings element in the line “Gain (loss) on financial instruments, net” of the consolidated statements of income when the transaction is not related to operating activities.

The fair values of quoted equity securities are based on current market prices. If the market for a financial asset is not active and if no observable market price is obtainable, the Company measures fair value by using assumptions and estimates. In measuring fair value, the Company makes maximum use of market inputs and minimizes the use of unobservable inputs.

The Company did not hold any material equity securities as of December 31, 2021 and December 31, 2020.

2.23

Investments in debt securities

The Company did not hold any debt securities classified as held-to-maturity or for which the Company would have elected to apply the fair value option. Debt securities are included in current assets when they represent investments of funds available for current operations or when management intends to dispose of the securities within twelve months of the balance sheet date.

Changes in fair value of debt securities classified as available-for-sale are recognized as a component of “Other comprehensive income (loss)” in the consolidated statements of comprehensive income. The Company assesses

at each balance sheet date whether there is objective evidence that a debt security or group of debt securities classified as available-for-sale is impaired. An unrealized impairment loss exists when the fair value of the instrument declines below its amortized cost basis. An impairment loss is recognized in earnings, through a direct reduction of the value of the asset, when the Company intends to sell the debt security or when it is more likely than not that the Company will be required to sell the instrument before recovery of the amortized cost basis. Moreover, an impairment loss is recognized in earnings through a credit loss allowance for any portion of the unrealized impairment loss resulting from a credit loss. Impairment losses recognized in the consolidated statements of income are not reversed through earnings.

The fair values of quoted debt securities are based on current market prices. If the market for a financial asset is not active and if no observable market price is obtainable, the Company measures fair value by using assumptions and estimates. In measuring fair value, the Company makes maximum use of market inputs and minimizes the use of unobservable inputs.

The Company held debt securities as at December 31, 2020, which were classified as available-for-sale and reported on the line “Marketable securities” on the consolidated balance sheet. The Company did not hold debt securities as at December 31, 2021.

2.24

Derivative financial instruments and hedging activities

Derivative financial instruments are initially recognized on the date a derivative contract is entered into and are subsequently measured at fair value. The method of recognizing the gain or loss resulting from the derivative instrument depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the hedge transaction. The Company has designated certain derivatives as hedges of a particular risk associated with a highly probable forecasted transaction (cash flow hedge).

The Company documents, at inception of the transaction, the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedging transactions. The Company also documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. Derivative instruments that are not designated as hedges are measured at fair value through earnings.

Cash Flow Hedge

As part of its ongoing operating, investing and financing activities, the Company enters into certain derivative transactions that may be designated and may qualify as hedging instruments. To reduce its exposure to U.S. dollar exchange rate fluctuations, the Company hedges certain Euro-denominated forecasted transactions that cover at reporting date a large part of its research and development, and selling, general and administrative expenses as well as a portion of its front-end manufacturing costs of semi-finished goods within cost of sales through the use of currency forward contracts and currency options, including collars. The Company also hedges through the use of currency forward contracts certain Singapore dollar-denominated manufacturing forecasted transactions.

The derivative instruments are designated and qualify for cash flow hedge at inception of the contract and on an ongoing basis over the duration of the hedge relationship. They are reflected at their fair value as “Other current assets” or “Other payables and accrued liabilities” in the consolidated balance sheets. The criteria for designating a derivative as a hedge include the instrument’s effectiveness in risk reduction and a one-to-one matching of the derivative instrument to its underlying transaction with the critical terms of the hedging instrument matching the terms of the hedged forecasted transaction. This enables the Company to conclude that changes in cash flows attributable to the risk being hedged are expected to be substantially offset by the hedging instruments.

For derivative instruments designated as cash flow hedge, the change in fair value for the effective portion of the hedge is reported as a component of “Other comprehensive income (loss)” in the consolidated statements of comprehensive income and is reclassified into earnings in the same period in which the hedged transaction affects earnings, and within the same consolidated statements of income line as the hedged transaction. For these derivatives, ineffectiveness appears if the cumulative gain or loss on the derivative hedging instrument exceeds the cumulative change in the expected future cash flows on the hedged transaction. Effectiveness on

transactions hedged through purchased options is measured on the full fair value of the option, including time value.

Derivative financial instruments not designated as a hedge

The Company conducts its business on a global basis in various major international currencies. As a result, the Company is exposed to adverse movements in foreign currency exchange rates. The Company enters into foreign currency forward contracts and currency options to reduce its exposure to changes in exchange rates and the associated risk arising from the denomination of certain assets and liabilities in foreign currencies at the Company's subsidiaries.

Financial instruments not designated as a hedge are classified as current assets when they are expected to be realized within twelve months of the balance sheet date. Marked-to-market gains or losses arising from changes in the fair value of these instruments are reported in the consolidated statements of income within “Other income and expenses, net” in the period in which they arise, since the transactions for these instruments occur within the Company’s operating activities.

2.25

Recent accounting pronouncements

(a)

Accounting pronouncements effective in 2021

In March 2020, the FASB provided optional guidance for a limited period to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The guidance provides relief through optional exemptions on the transition away from LIBOR to new reference rates. One optional exemption is to account for a modified contract as a continuation of an existing contract without performing a detailed analysis. Other exemptions are permitted on hedge accounting in order to avoid discontinuance of existing hedge accounting transactions due to modification of critical terms in the hedge relationship. The guidance has been effective since March 12, 2020 and will remain effective through December 31, 2022. The Company is not impacted by the reference rate reform as it does not report any hedging relationship (e.g. hedge of debt instruments) that are directly affected by the interest rate benchmark reform, or any significant financial liabilities indexed to LIBOR or other reference rate to be discontinued.

(b)

Accounting pronouncements expected to impact the Company’s operations that are not yet effective and have not been early adopted by the Company

In August 2020, the FASB issued new guidance on distinguishing liabilities from equity and EPS, to simplify an issuer’s accounting for convertible instruments by eliminating the cash conversion and beneficial conversion feature models in ASC 470-20 that require separate accounting for embedded conversion features. The guidance also simplifies the settlement assessment that issuers perform to determine whether a contract in their own equity qualifies for equity classification. Finally, the guidance requires entities to use in the calculation of the diluted EPS the if-converted method for all convertible instruments and to include the effect of share settlement for instruments that may be settled in cash or shares. The new guidance is effective for public companies for annual periods beginning after December 15, 2021, with early adoption permitted in fiscal years beginning after December 15, 2020. The guidance can be adopted either on a full retrospective basis or by applying the modified retrospective approach, with the impact upon transition recorded in retained earnings for existing instruments outstanding as of the adoption date.

The guidance became effective for the Company on January 1, 2022. The Company adopted the new guidance by applying the modified retrospective method on instruments outstanding at transition date. These instruments correspond solely to the dual-tranche senior unsecured convertible bonds issued on August 4, 2020, which are convertible instruments with cash conversion features in the scope of the new guidance. The impact of the new guidance on the Company’s consolidated financial statements is expected to result at adoption date in a $107 million increase in Long-term debt, to reflect the convertible debt at its $1,500 million nominal value, less $6 million of unamortized debt issuance costs, and a $15 million decrease in Long-term deferred tax liabilities, with a corresponding $92 million decrease in equity (composed of a $117 million decrease in Additional paid-in capital and a $25 million increase in Retained earnings). On subsequent periods, the carrying value of the convertible bonds, reported on the line Long-term debt of the consolidated balance sheet, will be incremented up to its nominal value over the amortization pattern of the $6 million unamortized debt issuance costs. The Company will also determine the dilutive effect of the convertible bonds by applying the if-converted method

which will result in the fully dilutive effect of the convertible bonds for the total 33,823,660 number of underlying shares.

In November 2021, the FASB issued new guidance on disclosures about government assistance, to increase the transparency in reporting government assistance, including the disclosure of (1) the types of assistance, (2) an entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. The new guidance is effective for public companies for annual periods beginning after December 15, 2021, with early adoption permitted in fiscal years beginning after December 15, 2020. The guidance became effective for the Company on January 1, 2022, with no significant impact expected since the Company’s consolidated financial statements already include specific disclosures about public funding, including: the nature of the grants (e.g. investment and research tax credits, R&D and capital grants); a description of the main programs to which the Company participates; the accounting policies applied to these transactions, and the effect of those transactions on the entity’s consolidated financial statements.

Short-Term Deposits and Marketable Securities

12 Months Ended

Dec. 31, 2021

Investments Debt And Equity Securities [Abstract]

Short-Term Deposits and Marketable Securities

SHORT-TERM DEPOSITS AND MARKETABLE SECURITIES

To optimize the return yield on its short-term investments, the Company invested $291 million of available cash in short-term deposits as at December 31, 2021, compared to $581 million as at December 31, 2020. These short-term deposits represent cash equivalents with original maturity beyond three months and no significant risk of changes in fair value.

Changes in the fair value of marketable securities are detailed in the tables below:

December 31,

2020

Purchase

Proceeds

at maturity

Change in

fair value

included

in OCI*

December 31,

2021

U.S. Treasury debt securities

133

—

(132

)

—

Total

133

—

(132

)

—

*	Other Comprehensive Income

December 31,

2019

Purchase

Proceeds

at maturity

Change in

fair value

included

in OCI*

December 31,

2020

U.S. Treasury debt securities

133

—

133

Total

133

—

133

*	Other Comprehensive Income

As at December 31, 2020, the Company held $133 million of U.S. Treasury bonds, classified as available-for-sale debt securities, all transferred to a financial institution with high credit quality. These transactions were concluded in compliance with the Company’s policy to optimize the return on its short-term interest rate investments, always placed with institutions with high credit rating. The U.S. Treasury bonds were reported as current assets in the line “Marketable securities” of the consolidated balance sheet as at December 31, 2020. In 2021, these marketable securities reached maturity and the related proceeds of $132 million were reported in the line “Proceeds from matured marketable securities” in the consolidated statement of cash flows for the year ended December 31, 2021.

Trade Accounts Receivable, Net

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Trade Accounts Receivable, Net

TRADE ACCOUNTS RECEIVABLE, NET

Trade accounts receivable, net consisted of the following:

	December 31,			December 31,
	2021			2020
Trade accounts receivable		1,778			1,481
Current expected credit losses allowance ("CECLA")		(19	)		(16	)
Total		1,759			1,465

The Company uses a lifetime expected losses allowance for all trade receivables based on failure rates, as applied to the gross amounts of trade accounts receivable. The allowance also includes reasonable assumptions about future credit trends. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the Company’s customers to settle the receivables. In addition to the factors already embedded in the failure rates, as applied on trade accounts receivable, the Company has identified cyclicality and uncertainties around continued growth for the semiconductor industry and its serviceable available market to be the most relevant factors. These macroeconomic factors are weighted into different economic scenarios, in line with estimates and methodologies applied by other business entities, including financial institutions.

On that basis, the changes in reported CECLA for the year ended December 31, 2021 are presented below:

CECLA as at December 31, 2020		(16)
Current-period adjustment to CECLA		(3)
CECLA as at December 31, 2021		(19)

Adjustments to the expected credit losses allowance are reported in the line “Selling, general and administrative” in the consolidated statements of income.

There were no significant write-offs in 2021, 2020 and 2019.

Inventories

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consisted of the following:

	December 31,		December 31,
	2021		2020
Raw materials		223		175
Work-in-process		1,235		1,120
Finished products		514		546
Total		1,972		1,841

Reserve for obsolescence is estimated for excess uncommitted inventories based on history of sales, backlog of orders and production plans.

Other Current Assets

12 Months Ended

Dec. 31, 2021

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Current Assets

OTHER CURRENT ASSETS

Other current assets consisted of the following:

	December 31, 2021		December 31, 2020
Receivables from government agencies		296		244
Taxes and other government receivables		119		114
Advances		28		39
Prepayments		90		70
Loans and deposits		8		8
Interest receivable		1		3
Derivative instruments		6		65
Other current assets		33		41
Total		581		584

Derivative instruments are further described in Note 28.

The Company applies a current expected credit losses model on all financial assets measured at amortized cost, including deposits, loans and receivables. The major portion of other current assets to which this model applies corresponds to government receivables. Due to the existing history of zero-default on receivables originated by governments, the expected credit losses are assumed to be not significant as at December 31, 2021 and December 31, 2020. Other current assets presented in the table above within the lines "Loans and deposits" and

“Other current assets” are composed of individually insignificant amounts at exposure of default. Consequently, no significant loss allowance was reported on those current assets as at December 31, 2021 and December 31, 2020.

Business Combinations

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Business Combinations

BUSINESS COMBINATIONS

In the first half of 2020, the Company closed the acquisition of French Gallium Nitride (GaN) innovator Exagan. Exagan’s expertise in epitaxy, product development and application know-how broaden and accelerate ST’s power GaN roadmap and business for automotive, industrial and consumer applications. The activities of this business are included in the Automotive and Discrete Group (ADG) reportable segment.

In the second half of 2020, the Company closed the acquisitions of the entire share capital of Ultra Wide Band specialist BeSpoon, of the cellular IoT connectivity assets of Riot Micro and of the radio-frequency assets of SOMOS. With these acquisitions, the Company further strengthens its offer for wireless connectivity in the roadmap for STM32 microcontrollers and secure microcontrollers. The activities of these three businesses are included in the Microcontrollers and Digital ICs Group (MDG) reportable segment.

In 2020, the Company also completed another minor acquisition in the Microcontrollers and Digital ICs Group (MDG) reportable segment.

In 2021, the purchase price allocation of the above business acquisitions was finalized and resulted in the recognition of a $1 million adjustment related to a defined benefit pension obligation, with the corresponding increase in goodwill. The fair value of the identifiable assets acquired and liabilities assumed was as follows:

	Fair value recognized at acquisition date	Measurement period adjustments	Fair value recognized as a result of acquisition
Property, plant and equipment	1	—	1
Technologies & licenses	108	—	108
Technologies in progress	10	—	10
Other intangible assets	2	—	2
Deferred tax assets	5	—	5
Deferred tax liabilities	(18)	—	(18)
Net working capital	(4)	(1)	(5)
Goodwill⁽¹⁾	135	1	136
Total net assets at fair value	239	—	239
Purchase consideration	239	—	239

(1)

The items that generated goodwill are workforce, synergies, future products and access to new markets. The goodwill is allocated to the ADG and MDG reportable segments as described in Note 8.

The total consideration transferred in relation to the business acquisitions concluded in 2020 after finalization of the purchase price allocation consisted of cash paid of $104 million, before cash acquired of $1 million, deferred consideration of $18 million and contingent consideration of $117 million. The fair value of the consideration transferred was determined by the Company with the assistance of a third party as part of the preliminary purchase price allocation. The contingent consideration comprised variable payment components contingent upon meeting certain financial and/or technical targets by the acquired businesses. The fair value measurement of the acquisition-date contingent consideration was based on the probability that the milestones defining the variable components of the consideration will be achieved and was estimated by calculating the present value of the future expected cash flows.

Deferred and contingent consideration recognized on business combinations amounted to $19 million and $77 million as at December 31, 2021 compared to $20 million and $123 million as at December 31, 2020. The fair value measurement of the contingent consideration corresponds to a Level 3 fair value hierarchy measurement and is further described in Note 28.

The amount paid of $103 million for the above-mentioned business combinations was reported in the line “Payment for business acquisitions, net of cash acquired” in the consolidated statement of cash flows for the year ended December 31, 2020.

Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill

GOODWILL

Goodwill allocated to reportable segments as at December 31, 2021 and 2020 and changes in the carrying amount of goodwill during the years ended December 31, 2021 and 2020 are as follows:

	ADG			AMS		MDG			Total
December 31, 2019		43			2		117			162
Business combination		24			—		111			135
Measurement period adjustment		14			—		—			14
Foreign currency translation		10			—		9			19
December 31, 2020		91			2		237			330
Measurement period adjustment		—			—		1			1
Foreign currency translation		(8	)		—		(10	)		(18	)
December 31, 2021		83			2		228			313

As described in Note 7, changes in the carrying amount of goodwill in 2021 include a $1 million increase related to the acquisition of Riot Micro following the finalization of the purchase price allocation in 2021.

The acquisition concluded in 2020 resulted in the recognition of goodwill totalling $135 million, allocated to ADG and MDG reportable segments. In addition, changes in the carrying amount of goodwill in 2020 include a $14 million increase related to a business acquisition concluded in 2019 following the finalization of the purchase price allocation in 2020.

In 2021, 2020 and 2019, no impairment loss was recorded by the Company.

Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Other Intangible Assets, Net

OTHER INTANGIBLE ASSETS, NET

Other intangible assets, net consisted of the following:

December 31, 2021	Gross Amount		Accumulated Amortization			Net Amount
Technologies & licenses		978		(675	)		303
Purchased & internally developed software		567		(485	)		82
Technologies in progress		52		—			52
Other intangible assets		72		(71	)		1
Total		1,669		(1,231	)		438

December 31, 2020	Gross Amount		Accumulated Amortization			Net Amount
Technologies & licenses		934		(623	)		311
Purchased & internally developed software		537		(461	)		76
Technologies in progress		56		—			56
Other intangible assets		72		(70	)		2
Total		1,599		(1,154	)		445

The line “Technologies in progress” in the table above also includes internally developed software under construction and software not ready for their intended use.

Amortization expense related to intangible assets subject to amortization was $93 million, $79 million and $69 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Estimated future amortization expense related to intangible assets as at December 31, 2021 is as follows:

Year
2022			106
2023			92
2024			78
2025			55
2026			34
Thereafter			73
Total			438

In 2021, 2020 and 2019, the Company impaired $1 million, $4 million and $4 million, respectively, of acquired licenses and technologies with no alternative future use.

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Property, Plant and Equipment, Net

10.

PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following:

December 31, 2021	Gross Amount		Accumulated Depreciation			Net Amount
Land		84		—			84
Buildings		951		(562	)		389
Facilities & leasehold improvements		3,490		(2,936	)		554
Machinery and equipment		17,085		(13,786	)		3,299
Computer and R&D equipment		395		(333	)		62
Operating lease right-of-use assets		314		(114	)		200
Other tangible assets		147		(97	)		50
Construction in progress		1,022		—			1,022
Total		23,488		(17,828	)		5,660

December 31, 2020	Gross Amount		Accumulated Depreciation			Net Amount
Land		86		—			86
Buildings		995		(567	)		428
Facilities & leasehold improvements		3,545		(3,038	)		507
Machinery and equipment		16,689		(13,859	)		2,830
Computer and R&D equipment		402		(347	)		55
Operating lease right-of-use assets		290		(99	)		191
Other tangible assets		118		(99	)		19
Construction in progress		480		—			480
Total		22,605		(18,009	)		4,596

The line “Construction in progress” in the table above includes property, plant and equipment under construction and equipment under qualification before operating and not ready for their intended use.

The depreciation charge was $952 million, $844 million and $785 million in 2021, 2020 and 2019, respectively.

Tax incentives and capital investment funding reported as a reduction of capital expenditures totaled $13 million, $10 million and $54 million for the years ended December 31, 2021, 2020 and 2019, respectively. Tax incentives and public funding reduced depreciation charges by $61 million, $59 million and $53 million in 2021, 2020 and 2019, respectively.

For the years ended December 31, 2021, 2020 and 2019 the Company sold property, plant and equipment for cash proceeds of $2 million, $4 million and $7 million, respectively.

There was no impairment recognized for the years ended December 31, 2021 and 2020. For the year ended December 31, 2019, the Company recorded impairment charges of $3 million on long-lived assets.

Leases

12 Months Ended

Dec. 31, 2021

Lessee Disclosure [Abstract]

Leasing

11.

LEASES

The Company leases land, buildings, cars and certain equipment (including IT equipment) which have remaining lease terms between less than one year and 48 years. As at December 31, 2021 and December 31, 2020, finance lease right-of-use assets were less than $1 million. The below information is thus presented for operating leases only.

Operating leases consisted of the following:

	December 31, 2021		December 31, 2020
Assets
Right-of-use assets		200		191
Total right-of-use assets		200		191
Lease liabilities
Current		55		54
Non-current		148		142
Total lease liabilities		203		196

Maturities of operating lease liabilities are as follows:

	December 31, 2021
2022		59
2023		46
2024		30
2025		18
2026		13
Thereafter		84
Total future undiscounted cash outflows		250
Effect of discounting		(47	)
Total operating lease liabilities		203

Operating lease term and discount rate are as follows:

December 31,

2021

December 31,

2020

Weighted average remaining lease term (in years)

9.38

9.01

Weighted average discount rate

2.69

2.71

Operating lease cost and cash paid are as follows:

	2021		2020
Operating lease cost		68		65
Operating lease cash paid		67		65

Right-of-use assets obtained in exchange for new operating lease liabilities are as follows:

		2021		2020
Operating leases		80		40

Long-Term Investments

12 Months Ended

Dec. 31, 2021

Investments Debt And Equity Securities [Abstract]

Long-Term Investments

12.

LONG-TERM INVESTMENTS

December 31,

2021

December 31,

2020

Long-term investments

Total

Long-term investments are equity securities with no readily determinable fair value for which the Company has elected to apply the cost method as a measurement alternative. It includes principally the Company’s investment in DNP Photomask Europe S.p.A (“DNP”). The Company has identified DNP as a VIE but has determined that it is not the primary beneficiary. The significant activities of DNP revolve around creation of masks and development of high level mask technology. The Company does not have the power to direct these activities. The Company’s current maximum exposure to losses as a result of its involvement with DNP is limited to its investment. The Company has not provided additional financial support to DNP in 2021 and 2020 and has no current requirement or intent to provide further financial support to DNP.

Other Non-Current Assets

12 Months Ended

Dec. 31, 2021

Investments All Other Investments [Abstract]

Other Non-Current Assets

13.

OTHER NON-CURRENT ASSETS

Other non-current assets consisted of the following:

	December 31,		December 31,
	2021		2020
Equity securities		29		25
Long-term State receivables		506		623
Defined benefit plans		15		4
Deposits and other non-current assets		89		72
Total		639		724

Long-term State receivables include receivables related to funding and receivables related to tax refunds. Funding are mainly public grants to be received from governmental agencies in Italy and France as part of long-term research, development, innovation, industrialization and capital investment projects. Long-term receivables related to tax refund correspond to tax benefits claimed by the Company in certain of its local tax jurisdictions, for which collection is expected beyond one year.

In 2021 and 2020, the Company entered into factoring transactions to accelerate the realization in cash of certain long-term receivables. The Company sold without recourse $118 million and $96 million of these receivables in the years ended December 31, 2021 and 2020 respectively, with a financial cost of less than $1 million for both years.

The major portion of other non-current assets to which the expected credit loss model applies are long-term State receivables. Due to the existing history of zero-default on receivables originated by governments, the expected credit losses are assumed to be negligible as at December 31, 2021, and December 31, 2020. Other non-current assets presented in the table above on the line "Deposits and other non-current assets" are composed of individually insignificant amounts not deemed to have exposure of default. Consequently, no significant expected credit loss allowance was reported on other non-current assets at reporting date.

Other Payables and Accrued Liabilities

12 Months Ended

Dec. 31, 2021

Payables And Accruals [Abstract]

Other Payables and Accrued Liabilities

14.

OTHER PAYABLES AND ACCRUED LIABILITIES

Other payables and accrued liabilities consisted of the following:

	December 31, 2021		December 31, 2020
Employee related liabilities		536		475
Employee compensated absences		181		164
Taxes other than income taxes		58		58
Advances		59		75
Derivative instruments		43		2
Defined benefit and contribution plans		34		32
Royalties		29		24
Current operating lease liabilities		55		54
Deferred and contingent consideration on business combinations		27		—
Others		79		82
Total		1,101		966

Derivative instruments are further described in Note 28.

Defined benefit and defined contribution plans and other long-term employee benefits are further described in Note 16.

Lease liabilities are described in Note 11.

Deferred and contingent consideration related to business acquisitions are further described in Note 28.

Long-Term Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Long-Term Debt

15.

LONG-TERM DEBT

Long-term debt consisted of the following:

	December 31,			December 31,
	2021			2020
Funding program loans from European Investment Bank ("EIB"):
0.73% due 2021, floating interest rate at Libor + 0.525%		—			30
0.75% due 2021, floating interest rate at Libor + 0.572%		—			29
0.06% due 2028, floating interest rate at Euribor + 0.589%		202			250
0.05% due 2029, floating interest rate at Euribor + 0.564%		222			270
0.06% due 2031, floating interest rate at Euribor + 0.583%		379			—
0.15% due 2031, floating interest rate at Euribor + 0.660%		187			—
Credit Facility from Cassa Depositi e Prestiti SpA ("CDP")
0.15% due 2027, floating interest rate at Euribor + 0.690%		156			—
Dual tranche senior unsecured convertible bonds
0.25% due 2024 (Tranche B)		—			674
Zero-coupon, due 2025 (Tranche A)		713			703
Zero-coupon, due 2027 (Tranche B)		674			661
Other funding program loans:
0.37% (weighted average), due 2021-2028, fixed interest rate		6			4
Total long-term debt		2,539			2,621
Less current portion		(143	)		(795	)
Total long-term debt, less current portion		2,396			1,826

Long-term debt is denominated in the following currencies:

	December 31, 2021		December 31, 2020
U.S. dollar		1,387		2,097
Euro		1,152		524
Total		2,539		2,621

On July 3, 2017, the Company issued a $1.5 billion principal amount of dual tranche senior unsecured convertible bonds (Tranche A and Tranche B for $750 million each tranche), due 2022 and 2024, respectively. Tranche A bonds were issued at 101.265% as zero-coupon bonds, while Tranche B bonds were issued at par and bear a 0.25% per annum nominal interest, payable semi-annually. The conversion price at issuance was $20.54, equivalent to a 37.5% premium on both tranches, which corresponds to 9,737 equivalent shares per each $200,000 bond par value. The bonds are convertible by the bondholders or are callable by the issuer upon certain conditions, on a net-share settlement basis, except if the issuer elects a full-cash or full-share conversion as an alternative settlement. The net proceeds from the bond offering were $1,502 million, after deducting issuance costs payable by the Company. Proceeds were allocated between debt and equity by measuring first the liability component and then determining the equity component as a residual amount. The liability component was measured at fair value based on a discount rate adjustment technique (income approach), which corresponded to a Level 3 fair value hierarchy measurement. The fair value of the liability component at initial recognition totaled $1,266 million before allocation of issuance costs and was estimated by calculating the present value of cash flows using a discount rate of 2.70% and 3.28% (including 0.25% per annum nominal interest), respectively, on each tranche, which were determined to be consistent with the market rates at the time

for similar instruments with no conversion rights. An amount of $242 million, net of allocated issuance costs of $1 million, was recorded in equity as the value of the conversion features of the instruments.

The call option available to the Company for the early redemption of Tranche A was exercised in July 2020. As a consequence, bondholders exercised their conversion rights on Tranche A. As the Company elected to net share settle the bonds, each conversion exercised by the bondholders followed the process defined in the original terms and conditions of the senior unsecured convertible bonds, which determined the actual number of shares to be transferred upon each conversion. The Company settled the bonds upon conversion, by redeeming through cash the $750 million principal amount, and by settling the residual consideration through the delivery of 11.4 million treasury shares. The Company allocated the total consideration transferred between debt and equity by measuring at fair value the liability component of Tranche A prior to settlement, then determining the equity component as a residual amount. The liability component was measured at fair value based on a discount rate adjustment technique (income approach), which corresponded to a Level 3 fair value hierarchy measurement and consisted in calculating the present value of cash flows using an average estimated discount rate of 0.8%, which approximated current market rates for similar bonds with no conversion rights. The fair value of the liability component as measured prior to extinguishment was $739 million for Tranche A, which generated a loss amounting to $25 million reported on the line “Loss on financial instruments, net” in the consolidated statement of income for the year ended December 31, 2020.

The call option available to the Company for the early redemption of Tranche B was exercised in July 2021. As a consequence, bondholders exercised their conversion rights on the full Tranche B. Each conversion exercised by the bondholders followed the process defined in the original terms and conditions of the convertible bonds, which determined the actual consideration to be transferred to bondholders upon each conversion. Out of the 3,750 bonds composing Tranche B, the Company elected to settle 1,238 bonds on a net-share basis for a total consideration of $479 million, through the payment of the $248 million nominal value in cash and the delivery of approximately 5.8 million treasury shares. The remaining 2,512 bonds were settled on a full cash basis for a total consideration of $1,015 million. The Company allocated the total consideration transferred between debt and equity by measuring at fair value the liability component of Tranche B prior to settlement, then determining the equity component as a residual amount. The liability component was measured at fair value based on a discount rate adjustment technique (income approach), which corresponded to a Level 3 fair value hierarchy measurement and consisted in calculating the present value of cash flows using an average estimated discount rate of 1.1%, which approximated current market rates for similar bonds that have no conversion rights. The fair value of the liability component as measured prior to extinguishment was $689 million for the full Tranche B, which generated a loss amounting to $44 million, in addition to $1 million write-off of unamortized debt issuance costs, reported on the line “Loss on financial instruments, net” in the consolidated statement of income for the year ended December 31, 2021.

On August 4, 2020, the Company issued a $1.5 billion principal amount of dual tranche senior unsecured convertible bonds (Tranche A and Tranche B for $750 million each tranche), due 2025 and 2027, respectively. Tranche A bonds were issued at 105.8% as zero-coupon bonds while Tranche B bonds were issued at 104.5% as zero-coupon bonds. The conversion price at issuance was $43.62 for Tranche A equivalent to a 47.5% conversion premium and $45.10 for Tranche B, equivalent to a 52.5% conversion premium. These conversion features correspond to an equivalent of 4,585 shares per each Tranche A bond $200,000 par value and an equivalent of 4,435 shares per each Tranche B bond $200,000 par value. The bonds are convertible by the bondholders or are callable by the issuer upon certain conditions, on a net-share settlement basis, except if the issuer elects a full-cash or full-share conversion as an alternative settlement. The net proceeds from the bond offering were $1,567 million, after deducting issuance costs paid by the Company. Proceeds were allocated between debt and equity by measuring first the liability component and then determining the equity component as a residual amount. The liability component was measured at fair value based on a discount rate adjustment technique (income approach), which corresponded to a Level 3 fair value hierarchy measurement. The fair value of the liability component at initial recognition totaled $1,362 million before allocation of issuance costs and deferred tax effect and was estimated by calculating the present value of cash flows using a discount rate of 1.30% and 1.85%, respectively, on each tranche, which were determined to be consistent with the market rates at the time for similar instruments with no conversion rights. An amount of $215 million, before allocation of $1 million issuance costs and $30 million deferred tax effect, was recorded in equity as the value of the conversion features of the instruments.

Unamortized debt discount and issuance costs on the issued convertible debt totaled $113 million as at December 31, 2021. As at December 31, 2021, the Company stock price exceeded the conversion price of both Tranches.

Aggregate future maturities of total long-term debt (including current portion) at principal amount are as follows:

	December 31,
	2021
2022		143
2023		143
2024		143
2025		893
2026		142
Thereafter		1,188
Total		2,652

The difference between the total aggregated future maturities in the preceding table and the total carrying amount of long-term debt is due to unamortized debt discount and issuance costs on the dual tranche senior unsecured convertible bonds.

Credit facilities

The Company’s long-term debt contained standard conditions but does not impose minimum financial ratios. The Company had unutilized committed medium-term credit facilities with core relationship banks totalling $910 million as at December 31, 2021.

The EIB Loans were comprised of two long-term amortizing credit facilities as part of R&D funding programs. The first one, signed in August 2017, is a €500 million loan in relation to R&D and capital expenditures in the European Union for the years 2017 and 2018. The entire amount was fully drawn in Euros corresponding to $424 million outstanding as at December 31, 2021. The second one, signed in 2020, is a €500 million credit facility agreement with EIB to support R&D and capital expenditure programs in Italy and France. It was fully drawn in 2021, representing $566 million outstanding as at December 31, 2021.

In June 2021, the Company signed a new Facility Agreement with CDP for an amount of €150 million, fully drawn in Euros, of which $156 million was outstanding as at December 31, 2021.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Post-Employment and Other Long-Term Employees Benefits

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Post-Employment and Other Long-Term Employees Benefits

16.

POST-EMPLOYMENT AND OTHER LONG-TERM EMPLOYEES BENEFITS

The Company and its subsidiaries have a number of defined benefit pension plans, mainly unfunded, and other long-term employees’ benefits covering employees in various countries. The defined benefit plans provide pension benefits based on years of service and employee compensation levels. The other long-term employees’ plans provide benefits due during the employees’ period of service after certain seniority levels. The Company uses December 31 as measurement date for its plans. Eligibility is generally determined in accordance with local statutory requirements. For Italian termination indemnity plan (“TFR”), generated before July 1, 2007, the Company measures the vested benefits to which Italian employees are entitled as if the amounts were immediately due as at December 31, 2021, in compliance with U.S. GAAP guidance on determining vested benefit obligations for defined benefit pension plans.

The changes in benefit obligation and plan assets were as follows:

	Pension Benefits						Other Long-Term Benefits
	December 31, 2021			December 31, 2020			December 31, 2021			December 31, 2020
Change in benefit obligation:
Benefit obligation at beginning of year		1,216			1,036			101			88
Service cost		36			31			13			11
Interest cost		21			21			1			1
Employee contributions		4			4			—			—
Plan amendments		—			1			—			—
Benefits paid		(25	)		(13	)		(5	)		(11	)
Effect of settlement		(8	)		(2	)		—			—
Business combination		3			—			—			—
Actuarial (gain) loss		(48	)		83			—			3
Foreign currency translation and other adjustments		(34	)		55			(16	)		9
Benefit obligation at end of year		1,165			1,216			94			101

Change in plan assets:
Plan assets at fair value at beginning of year		718			597			—			—
Actual return on plan assets		32			84			—			—
Employer contributions		17			17			—			—
Employee contributions		4			4			—			—
Benefits paid		(12	)		(3	)		—			—
Effect of settlement		(8	)		—			—			—
Business combination		2			—			—			—
Foreign currency translation and other adjustments		(10	)		19			—			—
Plan assets at fair value at end of year		743			718			—			—
Funded status		(422	)		(498	)		(94	)		(101	)

The actuarial gains in 2021 were primarily due to an increase in discount rates applied against future expected benefit payments and resulted in a decrease of the benefit obligation mainly for the plans located in France, in the United Kingdom and in the United States. The actuarial losses incurred during 2020 were primarily due to a decrease in discount rates applied against future expected benefit payments and resulted in an increase of the benefit obligation mainly for the plans located in the United Kingdom and in the United States.

Net amount recognized in the consolidated balance sheets consisted of the following:

	Pension Benefits						Other Long-Term Benefits
	December 31, 2021			December 31, 2020			December 31, 2021			December 31, 2020
Non-current assets		15			4			—			—
Current liabilities		(11	)		(9	)		(4	)		(4	)
Long-term liabilities		(426	)		(493	)		(90	)		(97	)
Net amount recognized		(422	)		(498	)		(94	)		(101	)

The components of accumulated other comprehensive loss (income) before tax effects were as follows:

	Actuarial (gains)/losses			Prior service cost			Total
Accumulated other comprehensive loss as at December 31, 2019		197			3			200
Net amount generated/arising in current year		21			1			22
Amortization		(13	)		(1	)		(14	)
Foreign currency translation adjustment		11			—			11
Accumulated other comprehensive loss as at December 31, 2020		216			3			219
Net amount generated/arising in current year		(56	)		—			(56	)
Amortization		(12	)		(1	)		(13	)
Foreign currency translation adjustment		(6	)		—			(6	)
Accumulated other comprehensive loss as at December 31, 2021		142			2			144

The accumulated benefit obligations were as follows:

Pension Benefits

Other Long-Term Benefits

December 31,

2021

December 31,

2020

December 31,

2021

December 31,

2020

Accumulated benefit obligations

1,004

1,053

For pension plans and other long-term benefits with accumulated benefit obligations in excess of plan assets, the accumulated benefit obligation and fair value of plan assets were $528 million and $134 million, respectively, as at December 31, 2021 and $773 million and $327 million, respectively, as at December 31, 2020.

For pension plans with projected benefit obligations in excess of plan assets, the benefit obligation and fair value of plan assets were $1,030 million and $499 million, respectively, as at December 31, 2021 and $1,177 million and $675 million, respectively, as at December 31, 2020.

The components of the net periodic benefit cost included the following:

	Pension Benefits									Other Long-term Benefits
	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019			Year ended December 31, 2021		Year ended December 31, 2020		Year ended December 31, 2019
Service cost		36			31			27			13		11		5
Interest cost		21			21			24			1		1		1
Expected return on plan assets		(24	)		(23	)		(22	)		—		—		—
Amortization of actuarial net loss (gain)		12			12			10			—		3		7
Amortization of prior service cost		1			1			1			—		—		—
Effect of settlement		—			1			3			—		—		—
Net periodic benefit cost		46			43			43			14		15		13

Pension benefits components other than service cost, recognized outside of Operating income in “Other components of pension benefit costs” in the Company’s consolidated statements of income, were $10 million, $12 million and $16 million in the years ended December 31, 2021, 2020 and 2019, respectively.

The weighted average assumptions used in the determination of the benefit obligation and the plan assets for the pension plans and the other long-term benefits were as follows:

Assumptions	2021			2020
Discount rate		1.84	%		1.45	%
Salary increase rate		2.27	%		2.43	%
Expected long-term rate of return on funds for the pension expense of the following year		3.19	%		3.44	%

The weighted average assumptions used in the determination of the net periodic benefit cost for the pension plans and the other long-term benefits were as follows:

Assumptions	2021			2020			2019
Discount rate		1.45	%		1.95	%		2.75	%
Salary increase rate		2.43	%		2.48	%		2.32	%
Expected long-term rate of return on funds for the pension expense of the year		3.44	%		4.04	%		4.16	%

The discount rate was determined by reference to market yields on high quality long-term corporate bonds applicable to the respective country of each plan, with terms consistent with the terms of the benefit obligations. In developing the expected long-term rate of return on assets, the Company modelled the expected long-term rates of return for broad categories of investments held by the plan against a number of various potential economic scenarios.

The Company’s pension plan asset allocation as at December 31, 2021 and December 31, 2020 is as follows:

	Percentage of Plan Assets at December
Asset Category	2021			2020
Cash and cash equivalents		1	%		1	%
Equity securities		17	%		23	%
Government debt securities		12	%		12	%
Corporate debt securities		22	%		15	%
Investments in funds^(a)		21	%		21	%
Real estate		1	%		2	%
Other (mainly insurance assets – contracts and reserves)		26	%		26	%
Total		100	%		100	%

^(a)

As at December 31, 2021, investments in funds were composed of commingled and multi-strategy funds invested in diversified portfolios of fixed income (73%) - mainly corporate bonds, equity (15%) and other instruments (12%). As at December 31, 2020, investments in funds were composed of commingled and multi-strategy funds invested in diversified portfolios of fixed income (72%) - mainly corporate bonds, equity (13%) and other instruments (15%).

As at December 31, 2021, the Company’s plan asset allocation was in line with the targets set for each plan.

The Company’s detailed pension plan asset allocation including the fair-value measurements of those plan assets as at December 31, 2021 is as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents		5		5		—		—
Equity securities		130		2		128		—
Government debt securities		87		—		87		—
Corporate debt securities		164		—		139		25
Investment funds		156		1		155		—
Real estate		10		—		10		—
Other (mainly insurance assets – contracts and reserves)		191		—		49		142
TOTAL		743		8		568		167

The Company’s detailed pension plan asset allocation including the fair-value measurements of those plan assets as at December 31, 2020 is as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents		4		4		—		—
Equity securities		167		2		165		—
Government debt securities		86		—		86		—
Corporate debt securities		105		—		81		24
Investment funds		153		3		150		—
Real estate		11		—		11		—
Other (mainly insurance assets – contracts and reserves)		192		—		54		138
TOTAL		718		9		547		162

The fair value of insurance contracts is based on the value of the assets held by the provider. The approach is consistent with prior years.

For plan assets measured at fair value using significant unobservable inputs (Level 3), the reconciliation between January 1, 2021 and December 31, 2021 is presented as follows:

	Fair Value Measurements using Significant Unobservable Inputs (Level 3)
January 1, 2021		162
Contributions (employer and employee)		15
Actual return on plan assets		2
Net benefit payments ^(a)		1
Settlements		(8	)
Foreign currency translation adjustment		(5	)
December 31, 2021		167

⁽^a⁾	^{Net cash flows between benefits paid from the insurance contracts and benefits transferred into the insurance contracts by employees.}

For plan assets measured at fair value using significant unobservable inputs (Level 3), the reconciliation between January 1, 2020 and December 31, 2020 is presented as follows:

	Fair Value Measurements using Significant Unobservable Inputs (Level 3)
January 1, 2020		113
Contributions (employer and employee)		14
Actual return on plan assets		2
Net benefit payments ^(a)		11
Settlements		—
Transfer in Level 3		10
Foreign currency translation adjustment		12
December 31, 2020		162

⁽^a⁾	^{Net cash flows between benefits paid from the insurance contracts and benefits transferred into the insurance contracts by employees.}

The Company’s investment strategy for its pension plans is to optimize the long-term investment return on plan assets in relation to the liability structure to maintain an acceptable level of risk while minimizing the cost of providing pension benefits and maintaining adequate funding levels in accordance with applicable rules in each jurisdiction. The Company’s practice is to periodically conduct a review of its asset allocation strategy, in such a way that the asset allocation is in line with the targeted asset allocation within reasonable boundaries. The Company’s asset portfolios are managed in such a way as to achieve adapted diversity. The Company does not manage any assets internally.

After considering the funded status of the Company’s defined benefit plans, movements in the discount rate, investment performance and related tax consequences, the Company may choose to make contributions to its pension plans in any given year in excess of required amounts. The Company’s contributions to plan assets were $17 million in 2021 and $17 million in 2020 and the Company expects to contribute $26 million to plan assets in 2022.

The Company’s estimated future benefit payments as at December 31, 2021 are as follows:

Years	Pension Benefits		Other Long-term Benefits
2022		38		5
2023		39		4
2024		48		7
2025		57		9
2026		67		8
From 2027 to 2031		299		41

The Company has certain defined contribution plans, which accrue benefits for employees on a pro-rata basis during their employment period based on their individual salaries. The Company’s accrued benefits related to defined contribution pension plans for $23 million as at December 31, 2021 and $23 million as at December 31, 2020. The annual cost of these plans amounted to approximately $101 million in 2021, $91 million in 2020 and $86 million in 2019.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2021

Other Liabilities Noncurrent [Abstract]

Other Long-Term Liabilities

17.OTHER LONG-TERM LIABILITIES

Other long-term liabilities consisted of the following:

	December 31, 2021	December 31, 2020
Non-current operating lease liabilities	148	142
Contingent consideration on business combinations	70	123
Deferred consideration	—	20
Other long-term employee benefits	90	97
Long-term liability related to public funding	44	42
Others	64	64
Total	416	488

Lease liabilities are described in Note 11.

Deferred and contingent consideration related to business acquisitions are further described in Note 7 and Note 28.

Other long-term employee benefits are described in Note 16.

Long-term liability related to public funding corresponded to grants received mainly as part of the Nano2017 program with the French government, which is subject to a financial return and depends on future cumulative sales. Public funding is further described in Note 21.

Other long-term liabilities also include individually insignificant amounts as at December 31, 2021 and December 31, 2020, presented cumulatively in the line “Others”.

Shareholders' Equity

12 Months Ended

Dec. 31, 2021

Federal Home Loan Banks [Abstract]

Shareholders' Equity

18.

SHAREHOLDERS’ EQUITY

18.1

Outstanding shares

The authorized share capital of the Company is Euro 1,810 million consisting of 1,200,000,000 common shares and 540,000,000 preference shares, each with a nominal value of €1.04. As at December 31, 2021 the number of shares of common stock issued was 911,276,920 shares (911,239,420 at December 31, 2020).

As at December 31, 2021, the number of shares of common stock outstanding was 906,518,057 (905,415,002 at December 31, 2020).

18.2

Preference shares

The 540,000,000 preference shares, when issued, will entitle a holder to full voting rights and to a preferential right to dividends and distributions upon liquidation.

The Company is a party to an option agreement regarding the preference shares with Stichting Continuïteit ST (the “Stichting”), entered into on January 22, 2007, with a duration of ten years, which agreement was extended for another ten years in October 2016. The Managing Board and Supervisory Board, along with the board of the Stichting, have declared that they are jointly of the opinion that the Stichting is independent of the Company. The option agreement provides for the issuance of up to a maximum 540,000,000 preference shares. Any such shares would be issued to the Stichting upon its request and in its sole discretion and upon payment of at least 25% of the par value of the preference shares to be issued. The shares would be issuable in the event of actions which the board of the Stichting determines would be contrary to the Company’s interests, shareholders and other stakeholders and which in the event of a creeping acquisition or offer for the Company’s common shares are not supported by the Company’s Managing Board and Supervisory Board. The preference shares may remain outstanding for no longer than two years. The effect of the preference shares may be to deter potential acquirers from effecting an unsolicited acquisition resulting in a change of control as well as to create a level-playing field in the event actions which are considered to be hostile by the Company’s Managing Board and Supervisory Board, as described above, occur and which the board of the Stichting determines to be contrary to the Company’s interests, shareholders and other stakeholders.

There were no preference shares issued as at December 31, 2021 and December 31, 2020 respectively.

18.3

Treasury stock

As at December 31, 2021, the Company owned 4,758,863 shares classified as treasury stock in the consolidated statement of equity compared to 5,824,418 shares as at December 31, 2020.

The treasury shares have been originally designated for allocation under the Company’s share-based remuneration programs. As at December 31, 2021, 67,933,213 of these treasury shares were transferred to employees under the Company’s share-based remuneration programs, of which 7,448,615 in the year ended December 31, 2021.

In 2021, the Company completed its buy-back program announced on November 5, 2018 by the repurchase of approximately 8.3 million shares of its common stock for a total of $313 million, reflected at cost, as a reduction of the parent company stockholders’ equity.

On July 1, 2021, the Company announced the launch of a share buy-back program of up to $1,040 million to be executed within a three-year period. The Company intends to carry out the buy-back program, and hold the shares bought back as treasury stock for the purpose of meeting the Company’s obligations in relation to its employee stock award plans and to support the potential settlement of its outstanding convertible debt. In 2021, as part of the share buy-back program announced on July 1, 2021, the Company repurchased approximately 3.9 million shares of its common stock for a total amount of $172 million.

As described in Note 15, bondholders exercised in 2021 their conversion rights on full Tranche B of the senior unsecured convertible bonds issued on July 3, 2017. Out of the 3,750 bonds composing Tranche B, the Company elected to settle 1,238 bonds on a net-share basis through the delivery of approximately 5.8 million treasury shares. In 2020, bondholders exercised their conversion rights on Tranche A of the senior unsecured convertible bonds issued on July 3, 2017, which the Company elected to net-share settle. The full settlement of Tranche A resulted in 11.4 million shares delivered to bondholders.

18.4

Unvested share awards for the Supervisory Board

On an annual basis and until the year 2012, the Compensation Committee (on behalf of the Supervisory Board and with its approval) used to grant stock-based awards (options to acquire common shares of the Company) to the members and professionals of the Supervisory Board (“The Supervisory Board Plan”). The awards were granted at the nominal value of the share of €1.04 (exercise price of the option). The options granted under the Supervisory Board Plan vest and become exercisable immediately, while the shares resulting from these awards vest and therefore become available for trade evenly over three years (one third every year), with no market, performance or service conditions.

At the Company’s Annual General Meeting of Shareholders held on June 21, 2013, it was resolved to abolish and terminate the stock-based compensation for the Supervisory Board members and professionals.

The table below summarizes grants under the outstanding stock award plans, as authorized by the Compensation Committee:

Year of grant	Options granted		Options waived at grant
2011		172,500		(30,000	)
2012		180,000		(22,500	)
Since 2013	No options granted

A summary of the options’ activity by plan for the years ended December 31, 2021 and December 31, 2020 is presented below:

Year of grant

Outstanding

as of

December 31, 2019

Exercised

Expired / Cancelled

Outstanding

as of

December 31, 2020

Exercised

Expired / Cancelled

Outstanding

as of

December 31, 2021

2011

45,000

(37,500

)

—

7,500

(7,500

)

—

2012

65,000

(15,000

)

—

50,000

(30,000

)

—

20,000

The total intrinsic value of options exercised during the year 2021 amounted to $2 million, compared to $2 million in 2020 and $1 million in 2019. The total intrinsic value of options outstanding as at December 31, 2021 and December 31, 2020 amounted to $1 million and $2 million, respectively.

18.5

Unvested share awards for the employees

On an annual basis, the Compensation Committee (on behalf of the Supervisory Board and with its approval) grants stock-based awards to the senior executives along with selected employees (the “Employee Plan”). The awards are granted for services under the Employee Plan. There are two types of unvested shares: (1) shares granted to employees, which are subject only to service conditions and vest over the requisite service period, and (2) shares granted to senior executives, whose vesting is subject to performance conditions. For the plans 2018, 2019 and 2020, the performance conditions consisted of two external targets (sales evolution and operating income compared to a basket of competitors) weighting for two thirds of the total number of awards granted and of one internal target (return on net assets compared to the previous period), weighting for one third of the total number of awards granted. For the plan 2021, the performance conditions consisted of two external targets (sales evolution and operating income compared to a basket of competitors) weighting for two thirds of the total number of awards granted and of one internal target (Company’s sustainability and diversity performance), weighting for one third of the total number of awards granted. All the awards vest over a three-year service period (32% as of the first anniversary of the grant, 32% as of the second anniversary of the grant and 36% as of the third anniversary of the grant). In addition, for each of the years 2019 and 2020, a Special Bonus was granted to the Company’s CEO.

The table below summarizes grants under the outstanding stock award plans in 2021, as authorized by the Compensation Committee:

Date of grant	Plan name	Number of shares granted		Number of shares waived		Number of shares lost on performance conditions
July 24, 2018	2018 Employee Plan		7,552,410		—		—
December 20, 2018	2018 Employee Plan		443,200		—		—
May 23, 2019	2019 CEO Special Bonus		34,960		—		—
July 24, 2019	2019 Employee Plan		7,752,940		—		(1,161,966	)
December 26, 2019	2019 Employee Plan		246,750		—		(17,013	)
June 17, 2020	2020 CEO Special Bonus		16,000		—		—
July 23, 2020	2020 Employee Plan		7,437,580		—		—
December 24, 2020	2020 Employee Plan		562,350		—		—
July 28, 2021	2021 Employee Plan		6,327,205		—	(*)
December 21, 2021	2021 Employee Plan		213,270		—	(*)

(*)

As at December 31, 2021, a final determination by the Compensation Committee of the Supervisory Board of the achievement of the performance conditions had not been made yet.

A summary of the unvested share activity by plan for the year ended December 31, 2021 is presented below:

Unvested Shares	Unvested as at December 31, 2020		Granted		Forfeited / waived			Vested			Unvested as at December 31, 2021
2018 Employee Plan		2,718,685		—		(8,235	)		(2,710,450	)		—
2019 CEO Special Bonus		23,306		—		—			(11,654	)		11,652
2019 Employee Plan		4,575,120		—		(46,062	)		(2,172,659	)		2,356,399
2020 CEO Special Bonus		—		16,000		—			(5,333	)		10,667
2020 Employee Plan		7,970,945		—		(97,860	)		(2,547,419	)		5,325,666
2021 Employee Plan		—		6,540,475		(41,870	)		(1,100	)		6,497,505
Total		15,288,056		6,556,475		(194,027	)		(7,448,615	)		14,201,889

The grant date weighted average fair value of unvested shares granted to employees under the 2018 Employee Plan was $22.78. On March 27, 2019, the Compensation Committee approved the statement that with respect to the shares subject to performance conditions, all three performance conditions were fully met. Consequently, the compensation expense recorded on the 2018 Employee Plan reflects the statement that – for the portion of shares subject to performance conditions – 100% of the awards granted will fully vest, as far as the service condition is met.

The grant date fair value of unvested shares granted to the CEO under the 2019 CEO Special Bonus Plan was $14.97. On the 2019 CEO Special Bonus Plan, the fair value of the unvested shares granted reflected the market price of the shares at the date of the grant.

The grant date weighted average fair value of unvested shares granted to employees under the 2019 Employee Plan was $19.28. On March 25, 2020, the Compensation Committee approved the statement that with respect to the shares subject to performance conditions, two performance conditions were fully met. Consequently, the compensation expense recorded on the 2019 Employee Plan reflects the statement that – for the portion of shares subject to performance conditions – two thirds of the awards granted will fully vest, as far as the service condition is met.

The grant date fair value of unvested shares granted to the CEO under the 2020 CEO Special Bonus Plan was $26.64. On the 2020 CEO Special Bonus Plan, the fair value of the unvested shares granted reflected the market price of the shares at the date of the grant.

The grant date weighted average fair value of unvested shares granted to employees under the 2020 Employee Plan was $30.17. On March 24, 2021, the Compensation Committee approved the statement that with respect to the shares subject to performance conditions, all three performance conditions were fully met. Consequently, the compensation expense recorded on the 2020 Employee Plan reflects the statement that – for the portion of shares subject to performance conditions – 100% of the awards granted will fully vest, as far as the service condition is met.

The grant date weighted average fair value of unvested shares granted to employees under the 2021 Employee Plan was $39.20. Moreover, for the portion of the shares subject to performance conditions (3,063,585 shares) the Company estimated the number of awards expected to vest by assessing the probability of achieving the performance conditions. As at December 31, 2021, a final determination by the Compensation Committee of the Supervisory Board of the achievement of the performance conditions had not been made yet by the Compensation Committee of the Supervisory Board. The Company estimated that two thirds of the awards subject to performance conditions were expected to vest. Consequently, the compensation expense recorded for the 2021 Employee Plan reflects the vesting of the two thirds of the awards granted with performance conditions, subject to the service condition being met. The assumption of the expected number of awards to be vested upon achievement of the performance conditions is subject to changes based on the final measurement of the conditions, which is expected to occur in the first half of 2022.

The following table illustrates the classification of pre-payroll tax and social contribution stock-based compensation expense included in the consolidated statements of income for the years ended December 31, 2021, 2020 and 2019:

	December 31, 2021		December 31, 2020		December 31, 2019

Cost of sales		34		25		22
R&D		70		51		46
SG&A		117		79		77
Total pre-payroll tax and social contribution compensation		221		155		145

The fair value of the shares that vested in 2021 was $181 million compared to $141 million in 2020 and $114 million in 2019.

Compensation cost, excluding payroll tax and social contribution, capitalized as part of inventory was $9 million as at December 31, 2021, compared to $6 million as at December 31, 2020 and $6 million as at December 31, 2019. As at December 31, 2021, there was $214 million of total unrecognized compensation cost related to the grant of unvested shares, which is expected to be recognized over a weighted average period of approximately 9 months.

The total deferred income tax benefit recognized in the consolidated statements of income related to unvested share-based compensation expense amounted to $14 million, $10 million and $9 million for the years ended December 31, 2021, 2020 and 2019, respectively.

18.6

Accumulated other comprehensive income (loss) attributable to parent company stockholders

The table below details the changes in AOCI attributable to the company’s stockholders by component, net of tax, for the years ended December 31, 2021, 2020 and 2019:

	Gains (Losses) on Cash Flow Hedges			Gains (Losses) on Available- For-Sale Securities			Defined Benefit Pension Plan Items			Foreign Currency Translation Adjustments (“CTA”)			Total
December 31, 2018		(39	)		(2	)		(179	)		681			461
Cumulative tax impact		4			—			44			—			48
December 31, 2018, net of tax		(35	)		(2	)		(135	)		681			509
OCI before reclassifications		(43	)		3			(58	)		(35	)		(133	)
Amounts reclassified from AOCI		79			—			14			—			93
OCI for the year ended December 31, 2019		36			3			(44	)		(35	)		(40	)
Cumulative tax impact		(4	)		—			10			—			6
OCI for the year ended December 31, 2019, net of tax		32			3			(34	)		(35	)		(34	)
December 31, 2019		(3	)		1			(223	)		646			421
Cumulative tax impact		—			—			54			—			54
December 31, 2019, net of tax		(3	)		1			(169	)		646			475
OCI before reclassifications		64			—			(22	)		203			245
Amounts reclassified from AOCI		—			—			14			—			14
OCI for the year ended December 31, 2020		64			—			(8	)		203			259
Cumulative tax impact		(8	)		—			(3	)		—			(11	)
OCI for the year ended December 31, 2020, net of tax		56			—			(11	)		203			248
December 31, 2020		61			1			(231	)		849			680
Cumulative tax impact		(8	)		—			51			—			43
December 31, 2020, net of tax		53			1			(180	)		849			723
OCI before reclassifications		(90	)		(1	)		56			(189	)		(224	)
Amounts reclassified from AOCI		(19	)		—			13			—			(6	)
OCI for the year ended December 31, 2021		(109	)		(1	)		69			(189	)		(230	)
Cumulative tax impact		14			—			(11	)		—			3
OCI for the year ended December 31, 2021, net of tax		(95	)		(1	)		58			(189	)		(227	)
December 31, 2021		(48	)		—			(162	)		660			450
Cumulative tax impact		6			—			40			—			46
December 31, 2021, net of tax		(42	)		—			(122	)		660			496

Items reclassified out of Accumulated Other Comprehensive Income for the years ended December 31, 2021, 2020 and 2019 are listed in the table below:

Details about AOCI components	Amounts reclassified from AOCI in the year ended December 31, 2021			Amounts reclassified from AOCI in the year ended December 31, 2020			Amounts reclassified from AOCI in the year ended December 31, 2019			Affected line item in the statement where net income (loss) is presented
Gains (Losses) on Cash Flow Hedges
Foreign exchange derivative contracts		15			(3	)		(51	)	Cost of sales
Foreign exchange derivative contracts		1			1			(6	)	Selling, general and administrative
Foreign exchange derivative contracts		3			2			(22	)	Research and development
		(3	)		—			10		Income tax benefit (expense)
		16			—			(69	)	Net of tax
Defined Benefit Pension Plan Items
Amortization of actuarial gains (losses)		(12	)		(13	)		(13	)	Other components of pension benefit costs
Amortization of prior service cost		(1	)		(1	)		(1	)	Other components of pension benefit costs
		2			3			3		Income tax benefit (expense)
		(11	)		(11	)		(11	)	Net of tax
Total reclassifications for the year		5			(11	)		(80	)
Attributable to noncontrolling interest		—			—			—
Attributable to the parent company stockholders		5			(11	)		(80	)

18.7

Dividends

The Annual General Meeting of Shareholders held on May 27, 2021 authorized the distribution of a cash dividend of $0.24 per outstanding share of the Company’s common stock, to be distributed in quarterly installments of $0.06 in each of the second, third and fourth quarters of 2021 and first quarter of 2022. The amounts of $54 million corresponding to the first installment, $55 million corresponding to the second installment and $54 million corresponding to the third installment were paid as at December 31, 2021. The remaining portion of $55 million related to the last installment is presented in the line “Dividends payable to stockholders” in the consolidated balance sheet as at December 31, 2021.

The Annual General Meeting of Shareholders held on June 17, 2020 authorized the distribution of a cash dividend of $0.168 per outstanding share of the Company’s common stock, to be distributed in quarterly installments of $0.042 in each of the second, third and fourth quarters of 2020 and first quarter of 2021. The amounts of $37 million corresponding to the first installment, $38 million corresponding to the second installment and $34 million corresponding to the third installment were paid as at December 31, 2020. The remaining portion of $4 million related to the third installment and the last installment of $38 million were paid in 2021.

The Annual General Meeting of Shareholders held on May 31, 2019 authorized the distribution of a cash dividend of $0.24 per outstanding share of the Company’s common stock, to be distributed in quarterly installments of $0.06 in each of the second, third and fourth quarters of 2019 and first quarter of 2020. The amounts of $53 million corresponding to the first installment, $53 million corresponding to the second installment and $48 million corresponding to the third installment were paid as at December 31, 2019. The remaining portion of $6 million related to the third installment and the last installment of $53 million were paid in 2020.

The Annual General Meeting of Shareholders held on May 31, 2018 authorized the distribution of a cash dividend of $0.24 per outstanding share of the Company’s common stock, to be distributed in quarterly installments of $0.06 in each of the second, third and fourth quarters of 2018 and first quarter of 2019. The amounts of $54 million corresponding to the first installment, $54 million corresponding to the second installment and $48 million corresponding to the third installment were paid as at December 31, 2018. The remaining portion of the third instalment amounting to $6 million and the fourth instalment of $54 million were paid in 2019.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Revenues

12 Months Ended

Dec. 31, 2021

Revenue From Contract With Customer [Abstract]

Revenues

19.

REVENUES

19.1

Nature of goods and services

The Company designs, develops, manufactures and markets a broad range of products, including discrete and standard commodity components, application-specific integrated circuits (“ASICs”), full-custom devices and semi-custom devices and application specific standard products (“ASSPs”) for analog, digital and mixed-signal applications. In addition, the Company participates in the manufacturing value chain of smartcard products, which includes the production and sale of both silicon chips and smartcards.

The principal activities – separated by reportable segments – from which the Company generates its revenues are described in Note 20.

Other revenues consist of license revenue, service revenue related to transferring licenses, patent royalty income, sale of scrap materials and manufacturing by-products.

While the majority of the Company’s sales agreements contain standard terms and conditions, the Company may, from time to time, enter into agreements that contain multiple performance obligations or terms and conditions. Those agreements concern principally the revenues from services, where the performance obligation is satisfied over time. The objective when allocating the transaction price is to allocate the transaction price to each performance obligation (or distinct good or service) in an amount that depicts the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised goods or services to the customer.

19.2

Revenue recognition and disaggregation

The Company recognizes revenue from products sold to a customer, including distributors, when it satisfies a performance obligation at a point in time by transferring control over a product to the customer. This usually occurs at the time of shipment. The performance obligations linked to the sale of goods contracts have the original expected length of less than one year. The transaction price is determined based on the contract terms, adjusted for price protection, if applicable. The revenues from services are usually linked to performance obligations transferred over time and are recognized in line with the contract terms.

The payment terms typically range between 30 and 90 days.

The Company’s consolidated net revenues disaggregated by reportable segment are presented in Note 20. The following tables present the Company’s consolidated net revenues disaggregated by geographical region of shipment, nature and market channel:

	Year ended
	December 31, 2021		December 31, 2020		December 31, 2019
Net revenues by geographical region of shipment⁽¹⁾
EMEA		2,557		1,966		2,265
Americas		1,525		1,165		1,351
Asia Pacific		8,679		7,088		5,940
Total net revenues		12,761		10,219		9,556
Net revenues by nature
Revenues from sale of products		12,560		10,049		9,381
Revenues from sale of services		169		132		148
Other revenues		32		38		27
Total net revenues		12,761		10,219		9,556
Net revenues by market channel⁽²⁾
Original Equipment Manufacturers (“OEM”)		8,486		7,411		6,720
Distribution		4,275		2,808		2,836
Total net revenues		12,761		10,219		9,556

(1)

Net revenues by geographical region of shipment are classified by location of customer invoiced or reclassified by shipment destination in line with customer demand. For example, products ordered by U.S.-based companies to be invoiced to Asia Pacific affiliates are classified as Asia Pacific revenues.

(2)	Original Equipment Manufacturers (“OEM”) are the end-customers to which the Company provides direct marketing application engineering support, while Distribution refers to the distributors and representatives that the Company engages to distribute its products around the world.

The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right to invoice for services performed.

In 2021, 2020 and 2019, the Company’s largest customer, Apple represented 20.5%, 23.9% and 17.6% of consolidated net revenues, respectively, reported in the ADG, AMS and MDG segments.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

20.

SEGMENT INFORMATION

The Company designs, develops, manufactures and markets a broad range of products, including discrete and standard commodity components ASICs, full custom devices and semi-custom devices and ASSPs” for analog, digital, and mixed-signal applications. In addition, the Company further participates in the manufacturing value chain of smartcard products, which includes the production and sale of both silicon chips and smartcards.

The Company’s reportable segments are as follows:

•

Automotive and Discrete Group (ADG), comprised of dedicated automotive ICs, and discrete and power transistor products.

•

Analog, MEMS and Sensors Group (AMS), comprised of analog, smart power, low power RF, MEMS sensors and actuators, and optical sensing solutions.

•

Microcontrollers and Digital ICs Group (MDG), comprised of microcontrollers (general purpose and secure), memories (RF and EEPROM), and RF communications.

For the computation of the segments’ internal financial measurements, the Company uses certain internal rules of allocation for the costs not directly chargeable to the segments, including cost of sales, SG&A expenses and a part of R&D expenses. In compliance with the Company’s internal policies, certain costs are not allocated to the segments, but reported in “Others”. Those comprise unused capacity charges, including reduced manufacturing activity due to COVID-19, impairment, restructuring charges and other related closure costs, management reorganization expenses, phase-out and start-up costs of certain manufacturing facilities, and other

unallocated expenses such as: strategic or special R&D programs, certain corporate-level operating expenses, patent claims and litigations, and other costs that are not allocated to product groups, as well as operating earnings of other products. In addition, depreciation and amortization expense is part of the manufacturing costs allocated to the segments and is neither identified as part of the inventory variation nor as part of the unused capacity charges; therefore, it cannot be isolated in cost of sales. Finally, public grants are allocated to the Company’s segments proportionally to the incurred expenses on the sponsored projects.

Wafer costs are allocated to the segments based on actual cost. From time to time, with respect to specific technologies, wafer costs are allocated to segments based on market price.

The following tables present the Company’s consolidated net revenues and consolidated operating income by reportable segment.

Net revenues by reportable segment:

	December 31, 2021		December 31, 2020		December 31, 2019
ADG		4,350		3,284		3,606
AMS		4,623		3,892		3,299
MDG		3,766		3,030		2,638
Total net revenues of product segments		12,739		10,206		9,543
Others		22		13		13
Total consolidated net revenues		12,761		10,219		9,556

Operating income by reportable segment:

	December 31, 2021			December 31, 2020			December 31, 2019
ADG		512			182			357
AMS		1,015			810			596
MDG		915			504			354
Total operating income of product segments		2,442			1,496			1,307
Others⁽¹⁾		(23	)		(173	)		(104	)
Total consolidated operating income		2,419			1,323			1,203

(1)

Operating income (loss) of “Others” includes items such as unused capacity charges, including reduced manufacturing activity due to COVID-19, impairment, restructuring charges and other related closure costs, management reorganization costs, phase out and start-up costs of certain manufacturing facilities, and other unallocated expenses such as: strategic or special R&D programs, certain corporate-level operating expenses, patent claims and litigations, and other costs that are not allocated to product groups, as well as operating earnings of other products.

The reconciliation of operating income of reportable segments to the total consolidated operating income is presented in the below table:

	December 31, 2021			December 31, 2020			December 31, 2019
Total operating income of reportable segments		2,442			1,496			1,307
Impairment, restructuring charges and other related closure costs		(2	)		(11	)		(5	)
Unused capacity charges		(16	)		(153	)		(65	)
Other unallocated manufacturing results		1			(8	)		(25	)
Gain on sale of non-current assets		3			11			6
Strategic and other research and development programs and other non-allocated provisions⁽¹⁾		(9	)		(12	)		(15	)
Total operating loss Others		(23	)		(173	)		(104	)
Total consolidated operating income		2,419			1,323			1,203

(1)

Includes unallocated income and expenses such as certain corporate-level operating expenses and other income (costs) that are not allocated to the product segments.

The following is a summary of operations by entities located within the indicated geographic areas for 2021, 2020 and 2019. Net revenues represent sales to third parties from the country in which each legal entity is incorporated. Long-lived assets consist of property, plant and equipment, net. A significant portion of property, plant and equipment expenditures is attributable to front-end and back-end facilities, located in the different countries in which the Company operates as reported on the consolidated balance sheets. As such, the Company mainly allocates capital spending resources according to geographic areas rather than along product segment areas.

Net revenues

	December 31, 2021		December 31, 2020		December 31, 2019
Netherlands		3,282		2,795		2,842
France		126		89		108
Italy		56		52		59
USA		1,253		976		1,157
Singapore		7,442		5,817		4,857
Japan		586		479		520
Other countries		16		11		13
Total net revenues		12,761		10,219		9,556

Property, plant and equipment, net

	December 31, 2021		December 31, 2020
Netherlands		1,498		1,046
France		1,154		905
Italy		1,469		1,213
Other European countries		114		118
USA		36		24
Singapore		671		604
Malaysia		221		186
Other countries		497		500
Total property, plant and equipment, net		5,660		4,596

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Other Income and Expenses, Net

12 Months Ended

Dec. 31, 2021

Other Income And Expenses [Abstract]

Other Income and Expenses, Net

21.

OTHER INCOME AND EXPENSES, NET

Other income and expenses, net consisted of the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
Public funding		162			231			132
Phase-out and start-up costs		—			(8	)		(38	)
Exchange gains and losses, net		7			8			—
Patent costs		(10	)		(11	)		(1	)
Gain on sale of non-current assets		5			14			7
COVID-19 incremental costs		(19	)		(32	)		—
Other, net		(4	)		—			3
Total		141			202			103

The Company receives significant public funding from governmental agencies in several jurisdictions. Public funding for research, development and other innovation programs is recognized ratably as the related costs are incurred once the agreement with the respective governmental agency has been signed and all applicable conditions have been met. Public funding received in the year ended December 31, 2017 from the Nano2017 program with the French government is subject to a financial return in the year 2024 and depends on the future cumulative sales of a certain product group over a five-year period. As such, the criteria for recognizing the grant income are not met. As at December 31, 2021, an amount of $44 million, corresponding primarily to the Nano2017 program, was reported as a liability in the consolidated balance sheet, compared to an amount of $42

million as at December 31, 2020. The Company also participates in the European Commission's Important Projects of Common Interests (IPCEI), until 2022 in France and until 2024 in Italy. For the latter, the Company reported $195 million receivables, of which $111 million reported on the line "Other current assets" in the consolidated balance sheet for the year ended December 31, 2021, compared to $206 million receivables, of which $105 million reported on the line "Other current assets" in the consolidated balance sheet for the year ended December 31, 2020.

Start-up costs represent costs incurred in the start-up and testing of the Company’s new manufacturing facilities, before reaching the earlier of a minimum level of production or six months after the fabrication line’s quality certification. Phase-out costs are costs incurred during the closing stage of a Company’s manufacturing facility. They are treated in the same manner as start-up costs.

Exchange gains and losses, net represent the portion of exchange rate changes on transactions denominated in currencies other than an entity’s functional currency and the changes in fair value of derivative instruments which are not designated as hedges and which have a cash flow effect related to operating transactions, as described in Note 28.

Patent costs mainly include legal and attorney fees and payment for claims, patent pre-litigation consultancy and legal fees. They are reported net of settlements, if any, which primarily include reimbursements of prior patent litigation costs.

COVID-19 incremental costs are mainly composed of purchases of medical disposables, such as masks and sanitizers, and other expenses related to sanitary measures undertaken to protect employees during the global outbreak of COVID-19.

Impairment, Restructuring Charges and Other Related Closure Costs

12 Months Ended

Dec. 31, 2021

Restructuring And Related Activities [Abstract]

Impairment, Restructuring Charges and Other Related Closure Costs

22.

IMPAIRMENT, RESTRUCTURING CHARGES AND OTHER RELATED CLOSURE COSTS

In 2021, the Company recorded $2 million of impairment, restructuring charges and other related closure costs composed of $3 million restructuring charges in association with the restructuring plan in Bouskoura, Morocco, $2 million reversal as an adjustment to accrued restructuring charges when compared to actual amounts paid and a $1 million impairment charge on licenses with no alternative future use.

In 2020, the Company recorded $11 million of impairment, restructuring charges and other related closure costs, composed of $8 million restructuring charges in association with the restructuring plan in Bouskoura, Morocco, $4 million impairment charge, primarily on licenses dedicated exclusively to certain development projects that were cancelled, while no alternative future use was identified internally, and $1 million reversal as an adjustment to accrued restructuring charges when compared to actual amounts paid.

In 2019, the Company recorded $5 million of impairment, restructuring charges and other related closure costs, composed of $7 million impairment charge, primarily on equipment and licenses dedicated exclusively to certain development projects that were cancelled, while no alternative future use was identified internally, and $2 million reversal as an adjustment to accrued restructuring charges when compared to actual amounts paid.

The Company did not report any significant restructuring provisions on the consolidated balance sheets as at December 31, 2021 and December 31, 2020.

The Company’s annual impairment test performed in 2021, 2020 and 2019 did not result in any significant impairment loss.

Interest Income (Expense), Net

12 Months Ended

Dec. 31, 2021

Banking And Thrift Interest [Abstract]

Interest Income (Expense), Net

23.

INTEREST INCOME (EXPENSE), NET

Interest income (expense), net consisted of the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
Income		13			34			55
Expense		(42	)		(54	)		(54	)
Total		(29	)		(20	)		1

Interest income is related to cash and cash equivalents, short-term deposits and marketable securities held by the Company.

Interest expense recorded in 2021 included a charge of $14 million on the senior unsecured convertible bonds issued on July 3, 2017 and a charge of $23 million on the senior unsecured convertible bonds issued on August 4, 2020, of which $34 million was a non-cash interest expense resulting from the accretion of the discount on the liability component.

Interest expense recorded in 2020 included a charge of $36 million on the senior unsecured convertible bonds issued on July 3, 2017 and a charge of $9 million on the senior unsecured convertible bonds issued on August 4, 2020, of which $42 million was a non-cash interest expense resulting from the accretion of the discount on the liability component.

Interest expense recorded in 2019 included a charge of $39 million on the senior unsecured convertible bonds issued on July 3, 2017, of which $37 million was a non-cash interest expense resulting from the accretion of the discount on the liability component.

Interest expense also included charges related to the banking fees and the sale of receivables, if any.

No borrowing cost was capitalized in 2021, 2020 and 2019. Interest income on U.S. Treasury Bonds classified as available-for-sale marketable securities amounted to $1 million for the year ended December 31, 2021, $3 million for the year ended December 31, 2020 and $6 million for the year ended December 31, 2019.

Income Tax

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Tax

24.

INCOME TAX

Income (loss) before income tax is comprised of the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
Income (loss) recorded in the Netherlands		(20	)		(19	)		(9	)
Income (loss) from foreign operations		2,357			1,286			1,198
Income (loss) before income tax benefit (expense)		2,337			1,267			1,189

STMicroelectronics N.V. and its subsidiaries are individually liable for income taxes in their jurisdictions.

Income tax benefit (expense) is comprised of the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
The Netherlands taxes - current		—			—			—
Foreign taxes - current		(285	)		(171	)		(131	)
Total current taxes		(285	)		(171	)		(131	)
The Netherlands taxes - deferred		—			—			—
Foreign taxes - deferred		(46	)		12			(25	)
Total deferred taxes		(46	)		12			(25	)
Income tax expense		(331	)		(159	)		(156	)
Effective tax rate		14	%		13	%		13	%

The principal items comprising the differences in income taxes computed at the Netherlands statutory rate of 25.0% in 2021, 2020 and 2019, and the effective income tax rate are the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
Income tax benefit (expense) computed at statutory rate		(584	)		(316	)		(297	)
Non-deductible and non-taxable permanent differences, net		4			(1	)		4
Valuation allowance adjustments		(2	)		11			2
Effect on deferred taxes of changes in enacted tax rates		6			(5	)		14
Current year credits		39			40			50
Other tax and credits		(22	)		(40	)		(51	)
Benefits from tax holidays		49			37			129
Net impact of changes to uncertain tax positions		(8	)		(1	)		(5	)
Earnings of subsidiaries taxed at different rates		187			116			(2	)
Income tax benefit (expense)		(331	)		(159	)		(156	)

The increase in the benefit from tax holidays between 2020 and 2021 is the result of the increase in profit in the countries where tax holidays are applicable.

The tax holidays represent a tax exemption period aimed to attract foreign technological investment in certain tax jurisdictions. The effect of the tax benefits, from tax holidays for countries which are profitable, on basic earnings per share was $0.05, $0.04 and $0.14 for the years ended December 31, 2021, 2020, and 2019, respectively. These agreements are present in various countries and include programs that reduce up to and including 100% of taxes in years affected by the agreements. The Company’s tax holidays expire at various dates through the year ending December 31, 2029. In certain countries, tax holidays can be renewed depending on the Company still meeting certain conditions at the date of expiration of the current tax holidays.

Component of the Net Deferred Tax Asset and Liability

Deferred tax assets and liabilities consisted of the following:

	December 31, 2021			December 31, 2020
Tax loss carryforwards and investment credits		707			702
Less unrecognized tax benefit		(81	)		(19	)
Tax loss carryforwards net of unrecognized tax benefit		626			683
Inventory valuation		28			34
Impairment and restructuring charges		4			3
Fixed asset depreciation in arrears		52			82
Increased depreciation incentives		128			182
Capitalized development costs		121			107
Receivables for government funding		64			40
Tax credits granted on past capital investments		213			215
Pension service costs		82			104
Stock awards		14			11
Operating lease liabilities		39			36
Commercial accruals		12			13
Other temporary differences		25			26
Total deferred tax assets		1,408			1,536
Valuation allowances		(576	)		(638	)
Deferred tax assets, net		832			898
Accelerated fixed asset depreciation		(32	)		(21	)
Acquired intangible assets		(22	)		(40	)
Advances of government funding		(115	)		(94	)
Operating lease right-of-use assets		(39	)		(36	)
Other temporary differences		(36	)		(43	)
Deferred tax liabilities		(244	)		(234	)
Net deferred income tax asset		588			664

For a particular tax-paying component of the Company and within a particular tax jurisdiction, all deferred tax liabilities and assets are offset and presented as a single amount. The Company does not offset deferred tax liabilities and assets attributable to different tax-paying components or to different tax jurisdictions.

A valuation allowance is provided for deferred tax assets when management considers it is more likely than not that they will not be realized.

Deferred tax asset expiration

As at December 31, 2021, the Company and its subsidiaries have gross deferred tax assets on tax loss carryforwards and investment credits that expire starting from 2022, as follows:

Year
2022			11
2023			11
2024			10
2025			11
2026			8
Thereafter			656
Total			707

The “Tax credits granted on past capital investments” is mainly related to a 2003 agreement granting the Company certain tax credits for capital investments purchased through the year ending December 31, 2006. Any unused tax credits granted under the agreement will be impacted yearly by a legal inflationary index (currently -0.45% per annum). The credits may be utilized depending on the Company meeting certain program criteria and have no expiration date. In addition to this agreement, starting from 2007 the Company continues to receive tax credits on the yearly capital investments, which may be used to offset that year’s tax liabilities and increases by the legal inflationary rate. However, pursuant to the inability to utilize these credits currently and in future years, the Company did not recognize any deferred tax asset on such tax allowance. As a result, there is no financial impact to the net deferred tax assets of the Company.

Deferred Tax expense recognised through Other Comprehensive Income

In 2021, we recognized a deferred tax expense of $3 million as a component of other comprehensive income (loss), compared to a deferred tax expense of $11 million in 2020. They were related primarily to the tax effects of the recognized unfunded status on defined benefits plan.

Deferred tax on undistributed Earnings from foreign subsidiaries

The cumulative amount of distributable earnings related to the Company’s investments in foreign subsidiaries and corporate joint ventures was $4,148 million and $3,783 million as at December 31, 2021 and December 31, 2020, respectively. Due to the Company’s legal and tax structure, with the parent company established in the Netherlands, there is no significant tax impact from the distribution of earnings for $3,701 million from investments in foreign subsidiaries and corporate joint ventures. This is because there is no tax impact on dividends paid up to a Dutch holding company by qualifying investments. The amount of distributable earnings becoming taxable upon repatriation amount to $447 million. An amount of $377 million is indefinitely reinvested by the foreign subsidiaries. As of December 31, 2021, a deferred tax liability is recognised for $7 million on the amount of earnings expected to be repatriated in a foreseeable future.

Unrecognised Tax Benefits

A reconciliation of 2021, 2020 and 2019 beginning and ending amounts of unrecognized tax benefits is as follows:

	December 31, 2021			December 31, 2020			December 31, 2019
Balance at beginning of year		48			48			38
Additions based on tax positions related to the current year		72			1			7
Additions based on acquisitions related to the current year		—			—			5
Additions for tax positions of prior years		1			1			1
Reduction for tax positions of prior years		(1	)		(2	)		(1	)
Settlements		—			(1	)		(2	)
Foreign currency translation		(2	)		1			—
Balance at end of year		118			48			48

In addition, at December 31, 2021, $81 million of unrecognized tax benefits were classified as a reduction of deferred tax assets (at December 31, 2020, the amount was $19 million). It is reasonably possible that certain of the uncertain tax positions disclosed in the table above could increase or decrease within the next 12 months due to ongoing tax audits. The Company is not able to make an estimate of the range of the reasonably possible change impacting the annual effective tax rate.

Additionally, the Company elected to classify accrued interest and penalties related to uncertain tax positions as components of income tax expense in the consolidated statements of income. They were less than $1 million in 2021, less than $1 million in 2020 and $1 million in 2019. Accrued interest and penalties amounted to $7 million as at December 31, 2021 and $7 million as at December 31, 2020.

The tax years that remain open for review in the Company’s major tax jurisdictions, including France, Italy, United States and India, are from 1997 to 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Earnings per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings per Share

25.

EARNINGS PER SHARE

For the years ended December 31, 2021, 2020 and 2019, earnings per share (“EPS”) was calculated as follows:

	Year ended December 31, 2021		Year ended December 31, 2020		Year ended December 31, 2019
Basic EPS
Net income attributable to parent company		2,000		1,106		1,032
Weighted average number of shares outstanding		904,332,429		894,578,477		894,297,697
Basic EPS		2.21		1.24		1.15
Diluted EPS
Net income attributable to parent company		2,000		1,106		1,032
Weighted average shares outstanding		904,332,429		894,578,477		894,297,697
Dilutive effect of stock awards		9,107,124		8,860,216		7,014,595
Dilutive effect of convertible bonds		11,402,645		16,291,279		2,333,493
Number of shares used in calculating diluted EPS		924,842,198		919,729,972		903,645,785
Diluted EPS		2.16		1.20		1.14

The Company applies the treasury method to determine the dilutive effect of convertible bonds as past experience, existing stated policies and the contractual terms of the bonds provide a reasonable basis to expect that the settlement will include cash, shares or a mix of both. According to the treasury method, the dilutive effect of the convertible bonds is included in the denominator of diluted EPS for the amount of shares transferred assuming a net-share settlement.

With a stock price at $48.88 when measured as at December 31, 2021, the bondholders’ conversion option of the senior unsecured convertible bonds issued on August 4, 2020 was in-the-money, resulting in case of conversion at that price, in an equity spread of $153 million.

Commitments

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments

26.

COMMITMENTS

The Company’s commitments as at December 31, 2021 were as follows:

In millions of U.S. dollars	Total		2022		2023		2024		2025		2026		Thereafter
Purchase obligations		4,064		3,272		405		186		163		38		—
of which:
Equipment purchase		2,412		2,406		6		—		—		—		—
Foundry purchase		1,488		768		358		167		157		38		—
Software, design, technologies and licenses		164		98		41		19		6		—		—
Other obligations		1,059		621		172		107		63		30		66
Total		5,123		3,893		577		293		226		68		66

Purchase obligations are primarily comprised of purchase commitments for equipment, for outsourced foundry wafers and for software licenses.

Other obligations primarily relate to firm contractual commitments with respect to partnership and cooperation agreements and other service agreements.

Contingencies, Claims and Legal Proceedings

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Contingencies, Claims and Legal Proceedings

27.

CONTINGENCIES, CLAIMS AND LEGAL PROCEEDINGS

The Company is subject to possible loss contingencies arising in the ordinary course of business. These include but are not limited to: product liability claims and/or warranty cost on the products of the Company, contractual disputes, indemnification claims, claims for unauthorized use of third-party intellectual property, employee grievances, tax claims beyond assessed uncertain tax positions as well as claims for environmental damages. In determining loss contingencies, the Company considers the likelihood of impairing an asset or the incurrence of a liability at the date of the consolidated financial statements as well as the ability to reasonably estimate the amount of such loss. The Company records a provision for a loss contingency when information available before the consolidated financial statements are issued or are available to be issued indicates that it is probable

that an asset has been impaired or a liability has been incurred at the date of the consolidated financial statements and when the amount of loss can be reasonably estimated. The Company regularly re-evaluates claims to determine whether provisions need to be readjusted based on the most current information available to the Company. Changes in these evaluations could result in an adverse material impact on the Company’s results of operations, cash flows or its financial position for the period in which they occur.

The Company has received and may in the future receive communications alleging possible infringements of third-party patents or other third-party intellectual property rights. Furthermore, the Company from time to time enters into discussions regarding a broad patent cross license arrangement with other industry participants. There is no assurance that such discussions may be brought to a successful conclusion and result in the intended agreement. The Company may become involved in costly litigation brought against the Company regarding patents, mask works, copyrights, trademarks or trade secrets. In the event that the outcome of any litigation would be unfavorable to the Company, the Company may be required to take a license to third party patents and/or other intellectual property rights at economically unfavorable terms and conditions, and possibly pay damages for prior use and/or face an injunction, all of which individually or in the aggregate could have a material adverse effect on the Company’s results of operations, cash flows, financial position and/or ability to compete.

The Company has contractual commitments to various customers which could require the Company to incur costs to repair or replace defective products it supplies to such customer. The duration of these contractual commitments varies and, in certain cases, is indefinite. The Company is otherwise also involved in various lawsuits, claims, inquiries, inspections, investigations and/or proceedings incidental to its business and operations. Such matters, even if not meritorious, could result in the expenditure of significant financial or managerial resources. Any of the foregoing could have a material adverse effect on the Company’s results of operations, cash flows or its financial position.

The Company regularly evaluates claims and legal proceedings together with their related probable losses to determine whether they need to be adjusted based on the current information available to the Company. There can be no assurance that its recorded reserves will be sufficient to cover the extent of its potential liabilities. Legal costs associated with claims are expensed as incurred. In the event of litigation which is adversely determined with respect to the Company’s interests, or in the event the Company needs to change its evaluation of a potential third-party claim, based on new evidence or communications, a material adverse effect could impact its operations or financial condition at the time it were to materialize.

As at December 31, 2021 and 2020, respectively, provisions for estimated probable losses with respect to claims and legal proceedings were not considered material.

Financial Instruments and Risk Management

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Financial Instruments and Risk Management

28.

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

28.1

Financial risk factors

The Company is exposed to changes in financial market conditions in the normal course of business due to its operations in different foreign currencies and its ongoing investing and financing activities. The Company’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk, fair value interest rate risk, cash flow interest rate risk and price risk), credit risk and liquidity risk. The Company’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company’s financial performance. The Company uses derivative financial instruments to hedge certain risk exposures.

Financial risk management is carried out by a central treasury department (Corporate Treasury). Additionally, a Treasury Committee, chaired by the Chief Financial Officer, steers treasury activities and ensures compliance with corporate policies. Treasury activities are thus regulated by the Company’s policies, which define procedures, objectives and controls. The policies focus on the management of financial risk in terms of exposure to market risk, credit risk and liquidity risk. Treasury controls are subject to internal audits. Most treasury activities are centralized, with any local treasury activities subject to oversight from Corporate Treasury. Corporate Treasury identifies, evaluates and hedges financial risks in close cooperation with the Company’s subsidiaries. It provides written principles for overall risk management, as well as written policies covering specific areas, such as foreign exchange risk, interest rate risk, price risk, credit risk, use of derivative financial instruments, and investments of excess liquidity. The majority of cash and cash equivalents is held in U.S. dollars and Euros and is placed with financial institutions rated at least a single “A” long-term rating from

two of the major rating agencies, meaning at least A3 from Moody’s and A- from S&P and Fitch, or better. These ratings are closely and continuously monitored in order to manage exposure to the counterparty’s risk. Hedging transactions are performed only to hedge exposures deriving from operating, investing and financing activities conducted in the normal course of business.

Market risk

Foreign exchange risk

The Company conducts its business on a global basis in various major international currencies. As a result, the Company is exposed to adverse movements in foreign currency exchange rates, primarily with respect to the Euro. Foreign exchange risk mainly arises from recognized assets and liabilities at the Company’s subsidiaries and future commercial transactions.

Management has set up a policy to require the Company’s subsidiaries to hedge their entire foreign exchange risk exposure with the Company through financial instruments transacted or overseen by Corporate Treasury. To manage their foreign exchange risk arising from foreign-currency-denominated assets and liabilities, subsidiaries use forward contracts and purchased currency options. Foreign exchange risk arises when recognized assets and liabilities are denominated in a currency that is not the entity’s functional currency. These instruments do not qualify as hedging instruments for accounting purposes. Forward contracts and currency options, including collars, are also used by the Company to reduce its exposure to U.S. dollar fluctuations in Euro-denominated forecasted intercompany transactions that cover a large part of its R&D, SG&A expenses as well as a portion of its front-end manufacturing costs of semi-finished goods. The Company also hedges through the use of currency forward contracts certain Singapore dollar-denominated manufacturing forecasted transactions. The derivative instruments used to hedge these forecasted transactions meet the criteria for designation as cash flow hedge. The hedged forecasted transactions have a high probability of occurring for hedge accounting purposes.

It is the Company’s policy to have the foreign exchange exposures in all the currencies hedged month by month against the monthly standard rate. At each month end, the forecasted flows for the coming month are hedged together with the fixing of the new standard rate. For this reason, the hedging transactions will have an exchange rate very close to the standard rate at which the forecasted flows will be recorded on the following month. As such, the foreign exchange exposure of the Company, which consists in the balance sheet positions and other contractually agreed transactions, is always close to zero and any movement in the foreign exchange rates will not therefore influence the exchange effect on items of the consolidated statement of income. Any discrepancy from the forecasted values and the actual results is constantly monitored and prompt actions are taken, if needed.

Derivative Instruments Not Designated as a Hedge

The Company enters into foreign currency forward contracts to reduce its exposure to changes in exchange rates and the associated risk arising from the denomination of certain assets and liabilities in foreign currencies at the Company’s subsidiaries. These include receivables from international sales by various subsidiaries, payables for foreign currency-denominated purchases and certain other assets and liabilities arising from intercompany transactions.

The notional amount of these financial instruments totaled $505 million, $897 million and $575 million at December 31, 2021, 2020 and 2019, respectively. The principal currencies covered at the end of the year 2021 are the Singapore dollar, the China Yuan Renminbi, the Swedish krona, the Japanese yen, the Indian rupee, the Swiss franc, the Malaysian ringgit, the South Korean won, the Philippines peso, the Taiwan dollar, the Moroccan dirham and the Euro.

The risk of loss associated with forward contracts is equal to the exchange rate differential from the time the contract is entered into until the time it is settled. The risk of loss associated with purchased currency options is equal to the premium paid when the option is not exercised.

Foreign currency forward contracts not designated as cash flow hedge outstanding as at December 31, 2021 have remaining terms of 4 days to 335 days, maturing on average after 47 days.

Derivative Instruments Designated as a Hedge

To further reduce its exposure to U.S. dollar exchange rate fluctuations, the Company hedges through the use of currency forward contracts and currency options, including collars, certain Euro-denominated forecasted intercompany transactions that cover at year-end a large part of its R&D and SG&A expenses, as well as a portion of its front-end manufacturing costs of semi-finished goods within cost of sales. The Company also hedges through the use of currency forward contracts certain manufacturing transactions within cost of sales denominated in Singapore dollars.

The principles regulating the hedging strategy for derivatives designated as cash flow hedge are established as follows: (i) for R&D and corporate costs, up to 80% of the total forecasted transactions; (ii) for manufacturing costs, up to 70% of the total forecasted transactions. In order to follow a dynamic hedge strategy, the Company may change the percentage of the designated hedged item within the limit of 100% of the forecasted transaction. The maximum length of time over which the Company could hedge its exposure to the variability of cash flows for forecasted transactions is 24 months.

For the year ended December 31, 2021, the Company recorded a decrease in cost of sales of $15 million and a decrease in operating expenses of $4 million, related to the realized gains incurred on such hedged transactions. For the year ended December 31, 2020, the Company recorded an increase in cost of sales of $3 million and a decrease in operating expenses of $3 million, related to the realized losses and gains incurred on such hedged transactions. For the year ended December 31, 2019, the Company recorded an increase in cost of sales of $51 million and an increase in operating expenses of $28 million, related to the realized losses incurred on such hedged transactions.

The notional amount of foreign currency forward contracts and currency options, including collars, designated as cash flow hedge totaled $2,165 million, $1,502 million and $1,328 million at December 31, 2021, 2020 and 2019, respectively. The forecasted transactions hedged at December 31, 2021 were determined to have a high probability of occurring.

As at December 31, 2021, $48 million of deferred losses on derivative instruments included in “Accumulated other comprehensive income (loss)” in the consolidated statements of equity were expected to be reclassified as earnings during the next 12 months based on the monthly forecasted R&D expenses, corporate costs and semi-finished manufacturing costs. Foreign currency forward contracts and collars designated as cash flow hedge outstanding as at December 31, 2021 have remaining terms of 5 days to 13 months, maturing on average after 142 days.

As at December 31, 2021, the Company had the following outstanding derivative instruments that were entered into to hedge Euro-denominated and Singapore dollar-denominated forecasted transactions:

In millions of Euros	Notional amount for hedge on forecasted R&D and other operating expenses		Notional amount for hedge on forecasted manufacturing costs
Forward contracts		343		604
Currency collars		310		514

In millions of Singapore dollars	Notional amount for hedge on forecasted R&D and other operating expenses		Notional amount for hedge on forecasted manufacturing costs
Forward contracts		—		214

Cash flow and fair value interest rate risk

The Company’s interest rate risk arises from long-term borrowings. Borrowings issued at variable rates expose the Company to cash flow interest rate risk. Borrowings issued at fixed rates expose the Company to fair value interest rate risk.

The Company analyses its interest rate exposure on a dynamic basis. Various scenarios are simulated taking into consideration refinancing, renewal of existing positions, alternative financing and hedging. The Company invests primarily on a short-term basis and as such the Company’s liquidity is invested in floating interest rate instruments. As a consequence, the Company is exposed to interest rate risk due to potential mismatch between

the return on its short-term floating interest rate investments and the portion of its long-term debt issued at fixed rate.

Price risk

As part of its ongoing investing activities, the Company may be exposed to equity security price risk for investments in public entities. In order to hedge the exposure to this market risk, the Company may enter into certain derivative hedging transactions.

Information on fair value of derivative instruments and their location in the consolidated balance sheets as at December 31, 2021 and December 31, 2020 is presented in the table below:

As at December 31, 2021

As at December 31, 2020

Asset Derivatives

Balance sheet location

Fair

value

Balance sheet location

Fair

value

Derivatives designated as a hedge:

Foreign exchange forward contracts

Other current assets

Currency collars

Other current assets

Total derivatives designated as a hedge

Derivatives not designated as a hedge:

Foreign exchange forward contracts

Other current assets

Total derivatives not designated as a

hedge:

Total Derivatives

	As at December 31, 2021				As at December 31, 2020
Liability Derivatives	Balance sheet location	Fair value			Balance sheet location	Fair value
Derivatives designated as a hedge:
Foreign exchange forward contracts	Other payables and accrued liabilities		(29	)	Other payables and accrued liabilities		—
Currency collars	Other payables and accrued liabilities		(13	)	Other payables and accrued liabilities		—
Total derivatives designated as a hedge			(42	)			—
Derivatives not designated as a hedge:
Foreign exchange forward contracts	Other payables and accrued liabilities		(1	)	Other payables and accrued liabilities		(2	)
Total derivatives not designated as a hedge:			(1	)			(2	)
Total Derivatives			(43	)			(2	)

The Company entered into currency collars as combinations of two options, which are reported, for accounting purposes, on a net basis. As at December 31, 2021, the fair value of these collars represented assets for a net amount of $1 million (composed of $2 million assets offset with a $1 million liability) and liabilities for a net amount of $13 million (composed of $14 million liabilities offset with a $1 million asset). In addition, the Company entered into other derivative instruments, primarily forward contracts, which are governed by standard International Swaps and Derivatives Association (“ISDA”) agreements and are compliant with Protocols of the European Market Infrastructure Regulation (“EMIR”), which are not offset in the statement of financial position and representing total assets of $5 million and liabilities of $30 million as at December 31, 2021.

The effect of derivative instruments designated as cashflow hedge on the consolidated statements of income for the year ended December 31, 2021 and December 31, 2020 and on the “Accumulated other comprehensive

income (loss)” (“AOCI”) as reported in the consolidated statements of equity as at December 31, 2021 and December 31, 2020 is presented in the table below:

	Gain (loss) deferred in OCI on derivative					Location of gain (loss) reclassified from OCI into earnings	Gain (loss) reclassified from OCI into earnings
	December 31, 2021			December 31, 2020			December 31, 2021		December 31, 2020
Foreign exchange forward contracts		(20	)		29	Cost of sales		11		(2	)
Foreign exchange forward contracts		(2	)		3	Selling, general and administrative		—		1
Foreign exchange forward contracts		(9	)		11	Research and development		1		2
Currency collars		(11	)		11	Cost of sales		4		(1	)
Currency collars		(1	)		1	Selling, general and administrative		1		—
Currency collars		(5	)		6	Research and development		2		—
Total		(48	)		61			19		—

No significant ineffective portion of the cash flow hedge relationships was recorded in earnings for the years ended December 31, 2021 and December 31, 2020. No amount was excluded from effectiveness measurement on foreign exchange forward contracts and collars.

The effect on the consolidated statements of income for the year ended December 31, 2021 and December 31, 2020 of derivative instruments not designated as a hedge is presented in the table below:

	Location of gain (loss) recognized in earnings	Gain (loss) recognized in earnings
		December 31, 2021		December 31, 2020
Foreign exchange forward contracts	Other income and expenses, net		9		(13	)
Total			9		(13	)

The Company did not enter into any derivative containing significant credit-risk-related contingent features.

Credit risk

The expected credit loss and impairment methodology applied on each category of financial assets is further described in each respective note. While cash and cash equivalents are also subject to the expected credit loss model, the identified expected credit loss is deemed to be immaterial. The maximum credit risk exposure for all financial assets is their carrying amount.

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. Credit risk typically arises from cash and cash equivalents, contractual cash flows of debt investments carried at amortized cost, the counterparty of derivative financial instruments and deposits with banks and financial institutions, as well as credit exposure to customers, including outstanding receivables.

The Company is exposed to credit risk from its operating activities (primarily for trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments. Credit risk is managed at the Group level. The Company selects banks and/or financial institutions that operate with the group based on the criteria of long-term rating from at least two major Rating Agencies and keeping a maximum outstanding amount per instrument with each bank not to exceed 20% of the total. For derivative financial instruments, management has established limits so that, at any time, the fair value of contracts outstanding is not concentrated with any individual counterparty.

The Company monitors the creditworthiness of its customers to which it grants credit terms in the normal course of business. If certain customers are independently rated, these ratings are used. Otherwise, if there is no independent rating, risk control assesses the credit quality of the customer, considering its financial position,

past experience and other factors. The utilization of credit limits is regularly monitored. Sales to customers are primarily settled in cash, which mitigates credit risk. As at December 31, 2021 and 2020, no customer represented more than 10% of trade accounts receivable, net. Any remaining concentrations of credit risk with respect to trade receivables are limited due to the large number of customers and their dispersion across many geographic areas.

The Company’s investments in instruments carried at amortized cost primarily include receivables towards government bodies. As such, they are investments with immaterial expected credit loss. Any remaining receivable is of low credit risk and is individually not significant. The credit ratings of the investments are monitored for credit deterioration.

Liquidity risk

Prudent liquidity risk management includes maintaining sufficient cash and cash equivalents, short-term deposits and marketable securities, the availability of funding from committed credit facilities and the ability to close out market positions. The Company’s objective is to maintain a significant cash position and a low debt-to-equity ratio, which ensures adequate financial flexibility. Liquidity management policy is to finance the Company’s investments with net cash from operating activities.

Management monitors rolling forecasts of the Company’s liquidity reserve based on expected cash flows.

28.2

Capital risk management

The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to create value for shareholders and benefits and returns for its stakeholders, as to maintain an optimal capital structure. In order to maintain or adjust its capital structure, the Company may review the amount of dividends paid to shareholders, return capital to shareholders, or issue new shares.

Consistent with others in the industry, the Company monitors capital on the basis of the net debt-to-equity ratio. This ratio is calculated as the net financial position of the Company, defined as the difference between total cash position (cash and cash equivalents, short-term deposits, marketable securities and restricted cash, if any) and total financial debt (short term and long-term debt), divided by total parent company stockholders’ equity.

28.3

Fair value measurement

The fair value of financial instruments traded in active markets is based on quoted market prices at the balance sheet date. The quoted market price used for financial assets held by the Company is the bid price. If the market for a financial asset is not active and if no observable market price is obtainable, the Company measures fair value by using significant assumptions and estimates. When measuring fair value, the Company makes maximum use of market inputs and minimizes the use of unobservable inputs.

The table below details financial assets (liabilities) measured at fair value on a recurring basis as at December 31, 2021:

	Fair Value Measurements using
	December 31, 2021			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Short-term deposits		291			291		—			—
Equity securities measured at fair value through earnings		29			29		—			—
Derivative assets designated as cash flow hedge		3			—		3			—
Derivative assets not designated as cash flow hedge		3			—		3			—
Derivative liabilities designated as cash flow hedge		(42	)		—		(42	)		—
Derivative liabilities not designated as cash flow hedge		(1	)		—		(1	)		—
Contingent consideration on business acquisitions		(77	)		—		—			(77	)
Total		206			320		(37	)		(77	)

The table below details financial assets (liabilities) measured at fair value on a recurring basis as at December 31, 2020:

	Fair Value Measurements using
	December 31, 2020			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Marketable securities – U.S. Treasury debt securities		133			133		—			—
Short-term deposits		581			581		—			—
Equity securities measured at fair value through earnings		25			25		—			—
Derivative assets designated as cash flow hedge		55			—		55			—
Derivative assets not designated as cash flow hedge		10			—		10			—
Derivative liabilities not designated as cash flow hedge		(2	)		—		(2	)		—
Contingent consideration on business acquisitions		(123	)		—		—			(123	)
Total		679			739		63			(123	)

For liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the reconciliation between January 1, 2021 and December 31, 2021 is presented as follows:

		Fair Value Measurements using Significant Unobservable Inputs (Level 3)
January 1, 2021		123
Changes in fair value measurement		(38)
Currency translation adjustment		(8)
December 31, 2021		77
Amount of total losses for the period included in earnings attributable to liabilities still held at the reporting date		(2)

Contingent consideration reported as liabilities on the consolidated balance sheet as at December 31, 2021 and December 31, 2020 is based on the probability that the milestones defining the variable components of the consideration will be achieved. In 2021, the probability of achievement of these variable components was reassessed, resulting in a reduction of $40 million of the fair value of the contingent consideration related to the 2020 acquisitions. The Company reported this change in fair value in the lines “Research and development” and “Cost of sales” of the consolidated statement of income, for $34 million and $6 million, respectively.

Contingent consideration is composed of $7 million reported in the line “Other payables and accrued liabilities” and $70 million reported in the line “Other long-term liabilities” in the consolidated balance sheet as at December 31, 2021, compared to $123 million entirely reported in the line “Other long-term liabilities” in the consolidated balance sheet as at December 31, 2020.

For liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the reconciliation between January 1, 2020 and December 31, 2020 is presented as follows:

		Fair Value Measurements using Significant Unobservable Inputs (Level 3)
January 1, 2020		—
Contingent consideration on business combinations		117
Changes in fair value measurement		1
Currency translation adjustment		5
December 31, 2020		123
Amount of total losses for the period included in earnings attributable to liabilities still held at the reporting date		—

No asset (liability) was measured at fair value on a non-recurring basis using significant unobservable inputs (Level 3) as at December 31, 2021 and December 31, 2020 respectively.

In July 2021, the Company exercised its call option for the early redemption of Tranche B of the senior unsecured convertible bonds issued on July 3, 2017. As a consequence, bondholders exercised their conversion rights on Tranche B. The Company allocated the total consideration transferred between debt and equity by measuring at fair value the liability component of Tranche B prior to settlement, then determining the equity component as a residual amount. The liability component was measured at fair value based on a discount rate adjustment technique (income approach), which corresponded to a Level 3 fair value hierarchy measurement and consisted in calculating the present value of cash flows using an average estimated discount rate of 1.1%, which approximated current market rates for similar bonds that have no conversion rights.

Further description on the senior unsecured convertible bonds issued by the Company is provided in Note 15.

The Company evaluated in 2021, 2020 and 2019 for impairment the aggregate carrying amount of long-term investments for which the Company applies the cost method as a measurement alternative, as described in Note 2.22. No significant impairment charge was recorded on these investments in 2021, 2020 and 2019.

The following table includes additional fair value information on financial assets and liabilities as at December 31, 2021 and 2020:

	2021						2020
	Level		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Cash equivalents ⁽¹⁾		1		2,883		2,883		2,637		2,637
Short-term, deposits		1		291		291		581		581
Long-term debt
– Bank loans (including current portion)		2		1,152		1,152		583		583
– Senior unsecured convertible bonds issued on July 3, 2017 (Tranche B) ⁽²⁾		1		—		—		674		1,359
– Senior unsecured convertible bonds issued on August 4, 2020 ⁽³⁾		1		1,387		1,975		1,364		1,835

(1) Cash equivalents primarily correspond to deposits at call with banks.

(2)The carrying amount of Tranche B senior unsecured convertible bonds issued on July 3, 2017 as reported above corresponds to the liability component only, since, at initial recognition, the value of the equity instrument embedded in the issued convertible bonds was recorded directly in equity. The initial recognition and subsequent measurements of the convertible bonds are further described in Note 15. The fair value represented the market price of the bonds trading on the Frankfurt Stock Exchange.

(3) The carrying amount of the senior unsecured convertible bonds issued on August 4, 2020 as reported above corresponds to the liability component only, since, at initial recognition, an amount of $215 million before allocation of issuance costs and deferred tax effect was recorded directly in equity as the value of the equity instrument embedded in the issued convertible bonds. The initial recognition of the convertible bonds is further

described in Note 15. The fair value represented the market price of the bonds trading on the Frankfurt Stock Exchange.

The Company did not report any debt securities that were in an unrealized loss position as at December 31, 2021 and December 31, 2020.

The methodologies used to estimate fair value are as follows:

Components	Methodology used to estimate fair value
Debt securities classified as available-for-sale	Quoted market prices for identical instruments
Foreign exchange forward contracts, currency options and collars	Quoted market prices for similar instruments
Equity securities measured at fair value through earnings	Quoted market prices for identical instruments
Equity securities carried at cost as a measurement alternative	Valuation of the underlying investments on a new round of third-party financing or upon liquidation
Long-term debt and current portion of long-term debt	Future cash flows on a borrowing-by-borrowing basis and discounting these future cash flows using the Company's incremental borrowing rates for similar types of borrowing arrangements
Cash and cash equivalents, short-term deposits, accounts receivable, short-term borrowings, and accounts payable	The carrying amounts reflected in the consolidated financial statements are considered as reasonable estimates of fair value due to the relatively short period of time between the origination of the instruments and their expected realization.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related Party Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions

29.

RELATED PARTY TRANSACTIONS

Transactions with related parties were as follows:

	December 31,		December 31,		December 31,
	2021		2020		2019
Sales & other services		8		5		2
Other purchases		19		21		18
Accounts receivable		2		1		—

For the years ended December 31, 2021, 2020 and 2019, the related party transactions were primarily with companies for which certain members of the Company’s management perform similar policymaking functions. These include, but are not limited to: Orange, Telecom Italia and Idemia France.

For the years ended December 31, 2021, 2020 and 2019, the Company did not report any material transaction with its equity-method investments.

The Company made a contribution of $0.5 million for the year ended December 31, 2021, $0.5 million for the year ended December 31, 2020 and $0.4 million for the year ended December 31, 2019 to the ST Foundation, a non-profit organization established to deliver and coordinate independent programs in line with its mission. Certain members of the Foundation’s Board are senior members of the Company’s management.

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2021

Valuation And Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

STMICROELECTRONICS N.V.

VALUATION AND QUALIFYING ACCOUNTS

Valuation and qualifying accounts deducted from the related asset accounts	Balance at beginning of period		Translation adjustment			Charged to costs and expenses			Additions/ (Deductions)			Balance at end of period
	(Currency—millions of U.S. dollars)
2021
Accounts Receivable		16		—			—			3			19
Deferred Tax Assets		638		(24	)		(2	)		(36	)		576
2020
Accounts Receivable		16		—			—			—			16
Deferred Tax Assets		1,534		28			(11	)		(913	)		638
2019
Accounts Receivable		15		—			—			1			16
Deferred Tax Assets		1,548		(4	)		—			(10	)		1,534

Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of presentation and consolidation

2.1

Basis of presentation and consolidation

When the Company owns some, but not all, of the voting stock of a consolidated entity, the shares held by third parties represent a noncontrolling interest. The consolidated financial statements are prepared based on the total amount of assets and liabilities and income and expenses of the consolidated subsidiaries. However, the portion of these items that does not belong to the Company’s shareholders is reported on the line “Noncontrolling interest” in the consolidated financial statements.

Use of estimates

2.2

Use of estimates

•

sales allowances and returns,

•

inventory obsolescence reserves and normal manufacturing capacity thresholds to determine costs capitalized in inventory,

•

recognition and measurement of loss contingencies,

•

valuation at fair value of assets acquired and liabilities assumed on business acquisitions, and measurement of any contingent consideration,

•

annual and trigger-based impairment review of goodwill and intangible assets, as well as the assessment of events which could trigger impairment testing on long-lived assets,

•

assessment of the Company’s long-lived assets economic useful lives,

•

assumptions used in measuring expected credit losses and impairment charges on financial assets,

•

assumptions used in assessing the number of awards expected to vest on stock-based compensation plans,

•

assumptions used in calculating pension obligations and other long-term employee benefits,

•

allocation between debt and equity of the various components of an issued, or settled, hybrid instrument and measurement at fair value of the liability component based on the income approach, and

•

Foreign currency

2.3

Foreign currency

For consolidation purposes, the results and financial position of the subsidiaries whose functional currency is different from the U.S. dollar are translated into the reporting currency as follows:

(a)

assets and liabilities for each consolidated balance sheet presented are translated into U.S. dollars using exchange rates at the balance sheet dates;

(b)

income and expenses for each consolidated statement of income presented are translated into U.S dollars using the average monthly exchange rates;

(c)

Cash and cash equivalents

2.4

Cash and cash equivalents

Short-term deposits representing cash equivalent with original maturity beyond three months are reported as current assets in the line “Short-term deposits” of the consolidated balance sheets.

Trade accounts receivable

2.5

Trade accounts receivable

Inventories

2.6

Inventories

Income taxes

2.7

Income taxes

Business combinations and goodwill

2.8

Business combinations and goodwill

Intangible assets with definite useful lives

2.9

Intangible assets with definite useful lives

Technologies and licenses

Computer software

Property, plant and equipment

2.10

Property, plant and equipment

Land is not depreciated. Depreciation on fixed assets is computed using the straight-line method over their estimated useful lives, as follows :

Buildings		33 years
Facilities and leasehold improvements		5-10 years
Machinery and equipment		2-10 years
Computer and R&D equipment		3-6 years
Other		2-5 years

The Company did not hold any significant assets held for sale as of December 31, 2021 and December 31, 2020.

Leases

2.11

Leases

Loss contingencies

2.12

Loss contingencies

Long-term debt

2.13

Long-term debt

(a)

Convertible debt

(b)

Bank loans

Employee benefits

2.14

Employee benefits

(a) Pension obligations

(b) Other post-employment obligations

(d) Profit-sharing and bonus plans

The Company recognizes a liability and an expense for bonuses and profit-sharing plans when a contractual obligation exists or where there is a past practice that has created a present obligation.

(e) Other long-term employee benefits

(f) Share-based compensation

Share capital

2.15

Share capital

Comprehensive income (loss)

2.16

Comprehensive income (loss)

Revenue recognition

2.17

Revenue recognition

Public funding

2.18

Public funding

Research and development

2.19

Research and development

Advertising costs

2.20

Advertising costs

Start-up and phase-out costs

2.21

Start-up and phase-out costs

Investments in equity securities

2.22

Investments in equity securities

The Company did not hold any material equity securities as of December 31, 2021 and December 31, 2020.

Investments in debt securities

2.23

Investments in debt securities

Derivative financial instruments and hedging activities

2.24

Derivative financial instruments and hedging activities

Cash Flow Hedge

transactions hedged through purchased options is measured on the full fair value of the option, including time value.

Derivative financial instruments not designated as a hedge

Recent accounting pronouncements

2.25

Recent accounting pronouncements

(a)

Accounting pronouncements effective in 2021

(b)

Accounting pronouncements expected to impact the Company’s operations that are not yet effective and have not been early adopted by the Company

which will result in the fully dilutive effect of the convertible bonds for the total 33,823,660 number of underlying shares.

Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Property, Plant and Equipment Useful Lives

Land is not depreciated. Depreciation on fixed assets is computed using the straight-line method over their estimated useful lives, as follows :

Buildings		33 years
Facilities and leasehold improvements		5-10 years
Machinery and equipment		2-10 years
Computer and R&D equipment		3-6 years
Other		2-5 years

Short-Term Deposits and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2021

Investments Debt And Equity Securities [Abstract]

Changes in Value of Marketable Securities Reported in Current Assets on Consolidated Balance Sheets

Changes in the fair value of marketable securities are detailed in the tables below:

December 31,

2020

Purchase

Proceeds

at maturity

Change in

fair value

included

in OCI*

December 31,

2021

U.S. Treasury debt securities

133

—

(132

)

—

Total

133

—

(132

)

—

*	Other Comprehensive Income

December 31,

2019

Purchase

Proceeds

at maturity

Change in

fair value

included

in OCI*

December 31,

2020

U.S. Treasury debt securities

133

—

133

Total

133

—

133

*	Other Comprehensive Income

Trade Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Trade Accounts Receivable, Net

Trade accounts receivable, net consisted of the following:

	December 31,			December 31,
	2021			2020
Trade accounts receivable		1,778			1,481
Current expected credit losses allowance ("CECLA")		(19	)		(16	)
Total		1,759			1,465

Schedule of Changes in Reported CECLA

On that basis, the changes in reported CECLA for the year ended December 31, 2021 are presented below:

CECLA as at December 31, 2020		(16)
Current-period adjustment to CECLA		(3)
CECLA as at December 31, 2021		(19)

Inventories (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:

	December 31,		December 31,
	2021		2020
Raw materials		223		175
Work-in-process		1,235		1,120
Finished products		514		546
Total		1,972		1,841

Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Current Assets

Other current assets consisted of the following:

	December 31, 2021		December 31, 2020
Receivables from government agencies		296		244
Taxes and other government receivables		119		114
Advances		28		39
Prepayments		90		70
Loans and deposits		8		8
Interest receivable		1		3
Derivative instruments		6		65
Other current assets		33		41
Total		581		584

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Fair Value of Identifiable Assets and Assumed Liabilities

The fair value of the identifiable assets acquired and liabilities assumed was as follows:

	Fair value recognized at acquisition date	Measurement period adjustments	Fair value recognized as a result of acquisition
Property, plant and equipment	1	—	1
Technologies & licenses	108	—	108
Technologies in progress	10	—	10
Other intangible assets	2	—	2
Deferred tax assets	5	—	5
Deferred tax liabilities	(18)	—	(18)
Net working capital	(4)	(1)	(5)
Goodwill⁽¹⁾	135	1	136
Total net assets at fair value	239	—	239
Purchase consideration	239	—	239

(1)

The items that generated goodwill are workforce, synergies, future products and access to new markets. The goodwill is allocated to the ADG and MDG reportable segments as described in Note 8.

Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

Goodwill allocated to reportable segments as at December 31, 2021 and 2020 and changes in the carrying amount of goodwill during the years ended December 31, 2021 and 2020 are as follows:

	ADG			AMS		MDG			Total
December 31, 2019		43			2		117			162
Business combination		24			—		111			135
Measurement period adjustment		14			—		—			14
Foreign currency translation		10			—		9			19
December 31, 2020		91			2		237			330
Measurement period adjustment		—			—		1			1
Foreign currency translation		(8	)		—		(10	)		(18	)
December 31, 2021		83			2		228			313

Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Other Intangible Assets, Net

Other intangible assets, net consisted of the following:

December 31, 2021	Gross Amount		Accumulated Amortization			Net Amount
Technologies & licenses		978		(675	)		303
Purchased & internally developed software		567		(485	)		82
Technologies in progress		52		—			52
Other intangible assets		72		(71	)		1
Total		1,669		(1,231	)		438

December 31, 2020	Gross Amount		Accumulated Amortization			Net Amount
Technologies & licenses		934		(623	)		311
Purchased & internally developed software		537		(461	)		76
Technologies in progress		56		—			56
Other intangible assets		72		(70	)		2
Total		1,599		(1,154	)		445

Estimated Future Amortization Expense Related to Intangible Assets

Estimated future amortization expense related to intangible assets as at December 31, 2021 is as follows:

Year
2022			106
2023			92
2024			78
2025			55
2026			34
Thereafter			73
Total			438

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Property, Plant and Equipment, Net

Property, plant and equipment, net consisted of the following:

December 31, 2021	Gross Amount		Accumulated Depreciation			Net Amount
Land		84		—			84
Buildings		951		(562	)		389
Facilities & leasehold improvements		3,490		(2,936	)		554
Machinery and equipment		17,085		(13,786	)		3,299
Computer and R&D equipment		395		(333	)		62
Operating lease right-of-use assets		314		(114	)		200
Other tangible assets		147		(97	)		50
Construction in progress		1,022		—			1,022
Total		23,488		(17,828	)		5,660

December 31, 2020	Gross Amount		Accumulated Depreciation			Net Amount
Land		86		—			86
Buildings		995		(567	)		428
Facilities & leasehold improvements		3,545		(3,038	)		507
Machinery and equipment		16,689		(13,859	)		2,830
Computer and R&D equipment		402		(347	)		55
Operating lease right-of-use assets		290		(99	)		191
Other tangible assets		118		(99	)		19
Construction in progress		480		—			480
Total		22,605		(18,009	)		4,596

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Lessee Disclosure [Abstract]

Schedule of Operating Lease

Operating leases consisted of the following:

	December 31, 2021		December 31, 2020
Assets
Right-of-use assets		200		191
Total right-of-use assets		200		191
Lease liabilities
Current		55		54
Non-current		148		142
Total lease liabilities		203		196

Schedule of Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities are as follows:

	December 31, 2021
2022		59
2023		46
2024		30
2025		18
2026		13
Thereafter		84
Total future undiscounted cash outflows		250
Effect of discounting		(47	)
Total operating lease liabilities		203

Schedule of Operating Lease Term and Discount Rate

Operating lease term and discount rate are as follows:

December 31,

2021

December 31,

2020

Weighted average remaining lease term (in years)

9.38

9.01

Weighted average discount rate

2.69

2.71

Schedule of Operating Lease Cost and Cash Paid

Operating lease cost and cash paid are as follows:

	2021		2020
Operating lease cost		68		65
Operating lease cash paid		67		65

Schedule of Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities

Right-of-use assets obtained in exchange for new operating lease liabilities are as follows:

		2021		2020
Operating leases		80		40

Long-Term Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments Debt And Equity Securities [Abstract]

Long-Term Investments

December 31,

2021

December 31,

2020

Long-term investments

Total

Other Non-Current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Investments All Other Investments [Abstract]

Other Non-Current Assets

Other non-current assets consisted of the following:

	December 31,		December 31,
	2021		2020
Equity securities		29		25
Long-term State receivables		506		623
Defined benefit plans		15		4
Deposits and other non-current assets		89		72
Total		639		724

Other Payables and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Payables And Accruals [Abstract]

Other Payables and Accrued Liabilities

Other payables and accrued liabilities consisted of the following:

	December 31, 2021		December 31, 2020
Employee related liabilities		536		475
Employee compensated absences		181		164
Taxes other than income taxes		58		58
Advances		59		75
Derivative instruments		43		2
Defined benefit and contribution plans		34		32
Royalties		29		24
Current operating lease liabilities		55		54
Deferred and contingent consideration on business combinations		27		—
Others		79		82
Total		1,101		966

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consisted of the following:

	December 31,			December 31,
	2021			2020
Funding program loans from European Investment Bank ("EIB"):
0.73% due 2021, floating interest rate at Libor + 0.525%		—			30
0.75% due 2021, floating interest rate at Libor + 0.572%		—			29
0.06% due 2028, floating interest rate at Euribor + 0.589%		202			250
0.05% due 2029, floating interest rate at Euribor + 0.564%		222			270
0.06% due 2031, floating interest rate at Euribor + 0.583%		379			—
0.15% due 2031, floating interest rate at Euribor + 0.660%		187			—
Credit Facility from Cassa Depositi e Prestiti SpA ("CDP")
0.15% due 2027, floating interest rate at Euribor + 0.690%		156			—
Dual tranche senior unsecured convertible bonds
0.25% due 2024 (Tranche B)		—			674
Zero-coupon, due 2025 (Tranche A)		713			703
Zero-coupon, due 2027 (Tranche B)		674			661
Other funding program loans:
0.37% (weighted average), due 2021-2028, fixed interest rate		6			4
Total long-term debt		2,539			2,621
Less current portion		(143	)		(795	)
Total long-term debt, less current portion		2,396			1,826

Long-Term Debt Denominated by Currencies

Long-term debt is denominated in the following currencies:

	December 31, 2021		December 31, 2020
U.S. dollar		1,387		2,097
Euro		1,152		524
Total		2,539		2,621

Total Long-Term Debt Outstanding Maturities

Aggregate future maturities of total long-term debt (including current portion) at principal amount are as follows:

	December 31,
	2021
2022		143
2023		143
2024		143
2025		893
2026		142
Thereafter		1,188
Total		2,652

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
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-Section 45
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 55
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Post-Employment and Other Long-Term Employees Benefits (Tables)

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Changes in Benefit Obligation and Plan Assets

The changes in benefit obligation and plan assets were as follows:

	Pension Benefits						Other Long-Term Benefits
	December 31, 2021			December 31, 2020			December 31, 2021			December 31, 2020
Change in benefit obligation:
Benefit obligation at beginning of year		1,216			1,036			101			88
Service cost		36			31			13			11
Interest cost		21			21			1			1
Employee contributions		4			4			—			—
Plan amendments		—			1			—			—
Benefits paid		(25	)		(13	)		(5	)		(11	)
Effect of settlement		(8	)		(2	)		—			—
Business combination		3			—			—			—
Actuarial (gain) loss		(48	)		83			—			3
Foreign currency translation and other adjustments		(34	)		55			(16	)		9
Benefit obligation at end of year		1,165			1,216			94			101

Change in plan assets:
Plan assets at fair value at beginning of year		718			597			—			—
Actual return on plan assets		32			84			—			—
Employer contributions		17			17			—			—
Employee contributions		4			4			—			—
Benefits paid		(12	)		(3	)		—			—
Effect of settlement		(8	)		—			—			—
Business combination		2			—			—			—
Foreign currency translation and other adjustments		(10	)		19			—			—
Plan assets at fair value at end of year		743			718			—			—
Funded status		(422	)		(498	)		(94	)		(101	)

Net amount recognized in the consolidated balance sheets consisted of the following:

	Pension Benefits						Other Long-Term Benefits
	December 31, 2021			December 31, 2020			December 31, 2021			December 31, 2020
Non-current assets		15			4			—			—
Current liabilities		(11	)		(9	)		(4	)		(4	)
Long-term liabilities		(426	)		(493	)		(90	)		(97	)
Net amount recognized		(422	)		(498	)		(94	)		(101	)

Accumulated Other Comprehensive Income (Loss) Before Tax Effects

The components of accumulated other comprehensive loss (income) before tax effects were as follows:

	Actuarial (gains)/losses			Prior service cost			Total
Accumulated other comprehensive loss as at December 31, 2019		197			3			200
Net amount generated/arising in current year		21			1			22
Amortization		(13	)		(1	)		(14	)
Foreign currency translation adjustment		11			—			11
Accumulated other comprehensive loss as at December 31, 2020		216			3			219
Net amount generated/arising in current year		(56	)		—			(56	)
Amortization		(12	)		(1	)		(13	)
Foreign currency translation adjustment		(6	)		—			(6	)
Accumulated other comprehensive loss as at December 31, 2021		142			2			144

Schedule of Accumulated Benefit Obligations

The accumulated benefit obligations were as follows:

Pension Benefits

Other Long-Term Benefits

December 31,

2021

December 31,

2020

December 31,

2021

December 31,

2020

Accumulated benefit obligations

1,004

1,053

Components of Net Periodic Benefit Cost

The components of the net periodic benefit cost included the following:

	Pension Benefits									Other Long-term Benefits
	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019			Year ended December 31, 2021		Year ended December 31, 2020		Year ended December 31, 2019
Service cost		36			31			27			13		11		5
Interest cost		21			21			24			1		1		1
Expected return on plan assets		(24	)		(23	)		(22	)		—		—		—
Amortization of actuarial net loss (gain)		12			12			10			—		3		7
Amortization of prior service cost		1			1			1			—		—		—
Effect of settlement		—			1			3			—		—		—
Net periodic benefit cost		46			43			43			14		15		13

Weighted Average Assumptions Used in Determination of Benefit Obligation and Plan Assets

The weighted average assumptions used in the determination of the benefit obligation and the plan assets for the pension plans and the other long-term benefits were as follows:

Assumptions	2021			2020
Discount rate		1.84	%		1.45	%
Salary increase rate		2.27	%		2.43	%
Expected long-term rate of return on funds for the pension expense of the following year		3.19	%		3.44	%

The weighted average assumptions used in the determination of the net periodic benefit cost for the pension plans and the other long-term benefits were as follows:

Assumptions	2021			2020			2019
Discount rate		1.45	%		1.95	%		2.75	%
Salary increase rate		2.43	%		2.48	%		2.32	%
Expected long-term rate of return on funds for the pension expense of the year		3.44	%		4.04	%		4.16	%

Pension Plan Asset Allocation

The Company’s pension plan asset allocation as at December 31, 2021 and December 31, 2020 is as follows:

	Percentage of Plan Assets at December
Asset Category	2021			2020
Cash and cash equivalents		1	%		1	%
Equity securities		17	%		23	%
Government debt securities		12	%		12	%
Corporate debt securities		22	%		15	%
Investments in funds^(a)		21	%		21	%
Real estate		1	%		2	%
Other (mainly insurance assets – contracts and reserves)		26	%		26	%
Total		100	%		100	%

^(a)

Pension Plan Asset Allocation Including Fair-Value Measurements

The Company’s detailed pension plan asset allocation including the fair-value measurements of those plan assets as at December 31, 2021 is as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents		5		5		—		—
Equity securities		130		2		128		—
Government debt securities		87		—		87		—
Corporate debt securities		164		—		139		25
Investment funds		156		1		155		—
Real estate		10		—		10		—
Other (mainly insurance assets – contracts and reserves)		191		—		49		142
TOTAL		743		8		568		167

The Company’s detailed pension plan asset allocation including the fair-value measurements of those plan assets as at December 31, 2020 is as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents		4		4		—		—
Equity securities		167		2		165		—
Government debt securities		86		—		86		—
Corporate debt securities		105		—		81		24
Investment funds		153		3		150		—
Real estate		11		—		11		—
Other (mainly insurance assets – contracts and reserves)		192		—		54		138
TOTAL		718		9		547		162

Reconciliation for Plan Assets Measured at Fair Value Using Unobservable Inputs (Level 3)

For plan assets measured at fair value using significant unobservable inputs (Level 3), the reconciliation between January 1, 2021 and December 31, 2021 is presented as follows:

	Fair Value Measurements using Significant Unobservable Inputs (Level 3)
January 1, 2021		162
Contributions (employer and employee)		15
Actual return on plan assets		2
Net benefit payments ^(a)		1
Settlements		(8	)
Foreign currency translation adjustment		(5	)
December 31, 2021		167

⁽^a⁾	^{Net cash flows between benefits paid from the insurance contracts and benefits transferred into the insurance contracts by employees.}

For plan assets measured at fair value using significant unobservable inputs (Level 3), the reconciliation between January 1, 2020 and December 31, 2020 is presented as follows:

	Fair Value Measurements using Significant Unobservable Inputs (Level 3)
January 1, 2020		113
Contributions (employer and employee)		14
Actual return on plan assets		2
Net benefit payments ^(a)		11
Settlements		—
Transfer in Level 3		10
Foreign currency translation adjustment		12
December 31, 2020		162

⁽^a⁾	^{Net cash flows between benefits paid from the insurance contracts and benefits transferred into the insurance contracts by employees.}

Estimated Future Benefit Payments

The Company’s estimated future benefit payments as at December 31, 2021 are as follows:

Years	Pension Benefits		Other Long-term Benefits
2022		38		5
2023		39		4
2024		48		7
2025		57		9
2026		67		8
From 2027 to 2031		299		41

Other Long-Term Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Other Liabilities Noncurrent [Abstract]

Summary of Other Long-Term Liabilities

Other long-term liabilities consisted of the following:

	December 31, 2021	December 31, 2020
Non-current operating lease liabilities	148	142
Contingent consideration on business combinations	70	123
Deferred consideration	—	20
Other long-term employee benefits	90	97
Long-term liability related to public funding	44	42
Others	64	64
Total	416	488

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Classification of Pre-Payroll Tax and Social Contribution Stock-Based Compensation Expense Included in Consolidated Statements of Income

	December 31, 2021		December 31, 2020		December 31, 2019

Cost of sales		34		25		22
R&D		70		51		46
SG&A		117		79		77
Total pre-payroll tax and social contribution compensation		221		155		145

Changes in AOCI Attributable to Stockholders

The table below details the changes in AOCI attributable to the company’s stockholders by component, net of tax, for the years ended December 31, 2021, 2020 and 2019:

	Gains (Losses) on Cash Flow Hedges			Gains (Losses) on Available- For-Sale Securities			Defined Benefit Pension Plan Items			Foreign Currency Translation Adjustments (“CTA”)			Total
December 31, 2018		(39	)		(2	)		(179	)		681			461
Cumulative tax impact		4			—			44			—			48
December 31, 2018, net of tax		(35	)		(2	)		(135	)		681			509
OCI before reclassifications		(43	)		3			(58	)		(35	)		(133	)
Amounts reclassified from AOCI		79			—			14			—			93
OCI for the year ended December 31, 2019		36			3			(44	)		(35	)		(40	)
Cumulative tax impact		(4	)		—			10			—			6
OCI for the year ended December 31, 2019, net of tax		32			3			(34	)		(35	)		(34	)
December 31, 2019		(3	)		1			(223	)		646			421
Cumulative tax impact		—			—			54			—			54
December 31, 2019, net of tax		(3	)		1			(169	)		646			475
OCI before reclassifications		64			—			(22	)		203			245
Amounts reclassified from AOCI		—			—			14			—			14
OCI for the year ended December 31, 2020		64			—			(8	)		203			259
Cumulative tax impact		(8	)		—			(3	)		—			(11	)
OCI for the year ended December 31, 2020, net of tax		56			—			(11	)		203			248
December 31, 2020		61			1			(231	)		849			680
Cumulative tax impact		(8	)		—			51			—			43
December 31, 2020, net of tax		53			1			(180	)		849			723
OCI before reclassifications		(90	)		(1	)		56			(189	)		(224	)
Amounts reclassified from AOCI		(19	)		—			13			—			(6	)
OCI for the year ended December 31, 2021		(109	)		(1	)		69			(189	)		(230	)
Cumulative tax impact		14			—			(11	)		—			3
OCI for the year ended December 31, 2021, net of tax		(95	)		(1	)		58			(189	)		(227	)
December 31, 2021		(48	)		—			(162	)		660			450
Cumulative tax impact		6			—			40			—			46
December 31, 2021, net of tax		(42	)		—			(122	)		660			496

Schedule of Items Reclassified Out of Accumulated Other Comprehensive Income

Items reclassified out of Accumulated Other Comprehensive Income for the years ended December 31, 2021, 2020 and 2019 are listed in the table below:

Details about AOCI components	Amounts reclassified from AOCI in the year ended December 31, 2021			Amounts reclassified from AOCI in the year ended December 31, 2020			Amounts reclassified from AOCI in the year ended December 31, 2019			Affected line item in the statement where net income (loss) is presented
Gains (Losses) on Cash Flow Hedges
Foreign exchange derivative contracts		15			(3	)		(51	)	Cost of sales
Foreign exchange derivative contracts		1			1			(6	)	Selling, general and administrative
Foreign exchange derivative contracts		3			2			(22	)	Research and development
		(3	)		—			10		Income tax benefit (expense)
		16			—			(69	)	Net of tax
Defined Benefit Pension Plan Items
Amortization of actuarial gains (losses)		(12	)		(13	)		(13	)	Other components of pension benefit costs
Amortization of prior service cost		(1	)		(1	)		(1	)	Other components of pension benefit costs
		2			3			3		Income tax benefit (expense)
		(11	)		(11	)		(11	)	Net of tax
Total reclassifications for the year		5			(11	)		(80	)
Attributable to noncontrolling interest		—			—			—
Attributable to the parent company stockholders		5			(11	)		(80	)

Supervisory Board [Member]

Summary of Grants Under Outstanding Stock Award Plans

The table below summarizes grants under the outstanding stock award plans, as authorized by the Compensation Committee:

Year of grant	Options granted		Options waived at grant
2011		172,500		(30,000	)
2012		180,000		(22,500	)
Since 2013	No options granted

Summary of Nonvested Share Activity

A summary of the options’ activity by plan for the years ended December 31, 2021 and December 31, 2020 is presented below:

Year of grant

Outstanding

as of

December 31, 2019

Exercised

Expired / Cancelled

Outstanding

as of

December 31, 2020

Exercised

Expired / Cancelled

Outstanding

as of

December 31, 2021

2011

45,000

(37,500

)

—

7,500

(7,500

)

—

2012

65,000

(15,000

)

—

50,000

(30,000

)

—

20,000

Employees [Member]

Summary of Grants Under Outstanding Stock Award Plans

The table below summarizes grants under the outstanding stock award plans in 2021, as authorized by the Compensation Committee:

Date of grant	Plan name	Number of shares granted		Number of shares waived		Number of shares lost on performance conditions
July 24, 2018	2018 Employee Plan		7,552,410		—		—
December 20, 2018	2018 Employee Plan		443,200		—		—
May 23, 2019	2019 CEO Special Bonus		34,960		—		—
July 24, 2019	2019 Employee Plan		7,752,940		—		(1,161,966	)
December 26, 2019	2019 Employee Plan		246,750		—		(17,013	)
June 17, 2020	2020 CEO Special Bonus		16,000		—		—
July 23, 2020	2020 Employee Plan		7,437,580		—		—
December 24, 2020	2020 Employee Plan		562,350		—		—
July 28, 2021	2021 Employee Plan		6,327,205		—	(*)
December 21, 2021	2021 Employee Plan		213,270		—	(*)

(*)

As at December 31, 2021, a final determination by the Compensation Committee of the Supervisory Board of the achievement of the performance conditions had not been made yet.

Summary of Nonvested Share Activity

A summary of the unvested share activity by plan for the year ended December 31, 2021 is presented below:

Unvested Shares	Unvested as at December 31, 2020		Granted		Forfeited / waived			Vested			Unvested as at December 31, 2021
2018 Employee Plan		2,718,685		—		(8,235	)		(2,710,450	)		—
2019 CEO Special Bonus		23,306		—		—			(11,654	)		11,652
2019 Employee Plan		4,575,120		—		(46,062	)		(2,172,659	)		2,356,399
2020 CEO Special Bonus		—		16,000		—			(5,333	)		10,667
2020 Employee Plan		7,970,945		—		(97,860	)		(2,547,419	)		5,325,666
2021 Employee Plan		—		6,540,475		(41,870	)		(1,100	)		6,497,505
Total		15,288,056		6,556,475		(194,027	)		(7,448,615	)		14,201,889

Revenues (Tables)

12 Months Ended

Dec. 31, 2021

Revenue From Contract With Customer [Abstract]

Summary of Consolidated Net Revenues Disaggregated by Reportable Segment, Geographical Region of Shipment, Nature and Market Channel

The following tables present the Company’s consolidated net revenues disaggregated by geographical region of shipment, nature and market channel:

	Year ended
	December 31, 2021		December 31, 2020		December 31, 2019
Net revenues by geographical region of shipment⁽¹⁾
EMEA		2,557		1,966		2,265
Americas		1,525		1,165		1,351
Asia Pacific		8,679		7,088		5,940
Total net revenues		12,761		10,219		9,556
Net revenues by nature
Revenues from sale of products		12,560		10,049		9,381
Revenues from sale of services		169		132		148
Other revenues		32		38		27
Total net revenues		12,761		10,219		9,556
Net revenues by market channel⁽²⁾
Original Equipment Manufacturers (“OEM”)		8,486		7,411		6,720
Distribution		4,275		2,808		2,836
Total net revenues		12,761		10,219		9,556

(1)

(2)	Original Equipment Manufacturers (“OEM”) are the end-customers to which the Company provides direct marketing application engineering support, while Distribution refers to the distributors and representatives that the Company engages to distribute its products around the world.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Net Revenues by Product Segment and by Product Line

The following tables present the Company’s consolidated net revenues and consolidated operating income by reportable segment.

Net revenues by reportable segment:

	December 31, 2021		December 31, 2020		December 31, 2019
ADG		4,350		3,284		3,606
AMS		4,623		3,892		3,299
MDG		3,766		3,030		2,638
Total net revenues of product segments		12,739		10,206		9,543
Others		22		13		13
Total consolidated net revenues		12,761		10,219		9,556

Operating Income by Reportable Segment

Operating income by reportable segment:

	December 31, 2021			December 31, 2020			December 31, 2019
ADG		512			182			357
AMS		1,015			810			596
MDG		915			504			354
Total operating income of product segments		2,442			1,496			1,307
Others⁽¹⁾		(23	)		(173	)		(104	)
Total consolidated operating income		2,419			1,323			1,203

(1)

Reconciliation of Operating Income of Reportable Segments to Total Consolidated Operating Income

The reconciliation of operating income of reportable segments to the total consolidated operating income is presented in the below table:

	December 31, 2021			December 31, 2020			December 31, 2019
Total operating income of reportable segments		2,442			1,496			1,307
Impairment, restructuring charges and other related closure costs		(2	)		(11	)		(5	)
Unused capacity charges		(16	)		(153	)		(65	)
Other unallocated manufacturing results		1			(8	)		(25	)
Gain on sale of non-current assets		3			11			6
Strategic and other research and development programs and other non-allocated provisions⁽¹⁾		(9	)		(12	)		(15	)
Total operating loss Others		(23	)		(173	)		(104	)
Total consolidated operating income		2,419			1,323			1,203

(1)

Includes unallocated income and expenses such as certain corporate-level operating expenses and other income (costs) that are not allocated to the product segments.

Net Revenues

Net revenues

	December 31, 2021		December 31, 2020		December 31, 2019
Netherlands		3,282		2,795		2,842
France		126		89		108
Italy		56		52		59
USA		1,253		976		1,157
Singapore		7,442		5,817		4,857
Japan		586		479		520
Other countries		16		11		13
Total net revenues		12,761		10,219		9,556

Property, Plant & Equipment

Property, plant and equipment, net

	December 31, 2021		December 31, 2020
Netherlands		1,498		1,046
France		1,154		905
Italy		1,469		1,213
Other European countries		114		118
USA		36		24
Singapore		671		604
Malaysia		221		186
Other countries		497		500
Total property, plant and equipment, net		5,660		4,596

Other Income and Expenses, Net (Tables)

12 Months Ended

Dec. 31, 2021

Other Income And Expenses [Abstract]

Other Income and Expenses, Net

Other income and expenses, net consisted of the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
Public funding		162			231			132
Phase-out and start-up costs		—			(8	)		(38	)
Exchange gains and losses, net		7			8			—
Patent costs		(10	)		(11	)		(1	)
Gain on sale of non-current assets		5			14			7
COVID-19 incremental costs		(19	)		(32	)		—
Other, net		(4	)		—			3
Total		141			202			103

Interest Income (Expense), Net (Tables)

12 Months Ended

Dec. 31, 2021

Banking And Thrift Interest [Abstract]

Summary of Interest Income (Expense), Net

Interest income (expense), net consisted of the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
Income		13			34			55
Expense		(42	)		(54	)		(54	)
Total		(29	)		(20	)		1

Income Tax (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income (Loss) before Income Tax

Income (loss) before income tax is comprised of the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
Income (loss) recorded in the Netherlands		(20	)		(19	)		(9	)
Income (loss) from foreign operations		2,357			1,286			1,198
Income (loss) before income tax benefit (expense)		2,337			1,267			1,189

Income Tax Benefit (Expense)

Income tax benefit (expense) is comprised of the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
The Netherlands taxes - current		—			—			—
Foreign taxes - current		(285	)		(171	)		(131	)
Total current taxes		(285	)		(171	)		(131	)
The Netherlands taxes - deferred		—			—			—
Foreign taxes - deferred		(46	)		12			(25	)
Total deferred taxes		(46	)		12			(25	)
Income tax expense		(331	)		(159	)		(156	)
Effective tax rate		14	%		13	%		13	%

Differences in Income Taxes Computed at Netherlands Statutory Rate and Effective Income Tax Rate

The principal items comprising the differences in income taxes computed at the Netherlands statutory rate of 25.0% in 2021, 2020 and 2019, and the effective income tax rate are the following:

	Year ended December 31, 2021			Year ended December 31, 2020			Year ended December 31, 2019
Income tax benefit (expense) computed at statutory rate		(584	)		(316	)		(297	)
Non-deductible and non-taxable permanent differences, net		4			(1	)		4
Valuation allowance adjustments		(2	)		11			2
Effect on deferred taxes of changes in enacted tax rates		6			(5	)		14
Current year credits		39			40			50
Other tax and credits		(22	)		(40	)		(51	)
Benefits from tax holidays		49			37			129
Net impact of changes to uncertain tax positions		(8	)		(1	)		(5	)
Earnings of subsidiaries taxed at different rates		187			116			(2	)
Income tax benefit (expense)		(331	)		(159	)		(156	)

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following:

	December 31, 2021			December 31, 2020
Tax loss carryforwards and investment credits		707			702
Less unrecognized tax benefit		(81	)		(19	)
Tax loss carryforwards net of unrecognized tax benefit		626			683
Inventory valuation		28			34
Impairment and restructuring charges		4			3
Fixed asset depreciation in arrears		52			82
Increased depreciation incentives		128			182
Capitalized development costs		121			107
Receivables for government funding		64			40
Tax credits granted on past capital investments		213			215
Pension service costs		82			104
Stock awards		14			11
Operating lease liabilities		39			36
Commercial accruals		12			13
Other temporary differences		25			26
Total deferred tax assets		1,408			1,536
Valuation allowances		(576	)		(638	)
Deferred tax assets, net		832			898
Accelerated fixed asset depreciation		(32	)		(21	)
Acquired intangible assets		(22	)		(40	)
Advances of government funding		(115	)		(94	)
Operating lease right-of-use assets		(39	)		(36	)
Other temporary differences		(36	)		(43	)
Deferred tax liabilities		(244	)		(234	)
Net deferred income tax asset		588			664

Gross Deferred Tax Assets On Tax Loss Carryforwards And Investment Credits Expiration Table Text Block

As at December 31, 2021, the Company and its subsidiaries have gross deferred tax assets on tax loss carryforwards and investment credits that expire starting from 2022, as follows:

Year
2022			11
2023			11
2024			10
2025			11
2026			8
Thereafter			656
Total			707

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

A reconciliation of 2021, 2020 and 2019 beginning and ending amounts of unrecognized tax benefits is as follows:

	December 31, 2021			December 31, 2020			December 31, 2019
Balance at beginning of year		48			48			38
Additions based on tax positions related to the current year		72			1			7
Additions based on acquisitions related to the current year		—			—			5
Additions for tax positions of prior years		1			1			1
Reduction for tax positions of prior years		(1	)		(2	)		(1	)
Settlements		—			(1	)		(2	)
Foreign currency translation		(2	)		1			—
Balance at end of year		118			48			48

Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Summary of Earnings per Share ("EPS")

For the years ended December 31, 2021, 2020 and 2019, earnings per share (“EPS”) was calculated as follows:

	Year ended December 31, 2021		Year ended December 31, 2020		Year ended December 31, 2019
Basic EPS
Net income attributable to parent company		2,000		1,106		1,032
Weighted average number of shares outstanding		904,332,429		894,578,477		894,297,697
Basic EPS		2.21		1.24		1.15
Diluted EPS
Net income attributable to parent company		2,000		1,106		1,032
Weighted average shares outstanding		904,332,429		894,578,477		894,297,697
Dilutive effect of stock awards		9,107,124		8,860,216		7,014,595
Dilutive effect of convertible bonds		11,402,645		16,291,279		2,333,493
Number of shares used in calculating diluted EPS		924,842,198		919,729,972		903,645,785
Diluted EPS		2.16		1.20		1.14

Commitments (Tables)

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Company's Commitments

The Company’s commitments as at December 31, 2021 were as follows:

In millions of U.S. dollars	Total		2022		2023		2024		2025		2026		Thereafter
Purchase obligations		4,064		3,272		405		186		163		38		—
of which:
Equipment purchase		2,412		2,406		6		—		—		—		—
Foundry purchase		1,488		768		358		167		157		38		—
Software, design, technologies and licenses		164		98		41		19		6		—		—
Other obligations		1,059		621		172		107		63		30		66
Total		5,123		3,893		577		293		226		68		66

Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Notional Amounts of Outstanding Derivative Instruments

As at December 31, 2021, the Company had the following outstanding derivative instruments that were entered into to hedge Euro-denominated and Singapore dollar-denominated forecasted transactions:

In millions of Euros	Notional amount for hedge on forecasted R&D and other operating expenses		Notional amount for hedge on forecasted manufacturing costs
Forward contracts		343		604
Currency collars		310		514

In millions of Singapore dollars	Notional amount for hedge on forecasted R&D and other operating expenses		Notional amount for hedge on forecasted manufacturing costs
Forward contracts		—		214

Fair Value of Derivative Instruments

Information on fair value of derivative instruments and their location in the consolidated balance sheets as at December 31, 2021 and December 31, 2020 is presented in the table below:

As at December 31, 2021

As at December 31, 2020

Asset Derivatives

Balance sheet location

Fair

value

Balance sheet location

Fair

value

Derivatives designated as a hedge:

Foreign exchange forward contracts

Other current assets

Currency collars

Other current assets

Total derivatives designated as a hedge

Derivatives not designated as a hedge:

Foreign exchange forward contracts

Other current assets

Total derivatives not designated as a

hedge:

Total Derivatives

	As at December 31, 2021				As at December 31, 2020
Liability Derivatives	Balance sheet location	Fair value			Balance sheet location	Fair value
Derivatives designated as a hedge:
Foreign exchange forward contracts	Other payables and accrued liabilities		(29	)	Other payables and accrued liabilities		—
Currency collars	Other payables and accrued liabilities		(13	)	Other payables and accrued liabilities		—
Total derivatives designated as a hedge			(42	)			—
Derivatives not designated as a hedge:
Foreign exchange forward contracts	Other payables and accrued liabilities		(1	)	Other payables and accrued liabilities		(2	)
Total derivatives not designated as a hedge:			(1	)			(2	)
Total Derivatives			(43	)			(2	)

Effect on Consolidated Statements of Income of Derivative Instruments

income (loss)” (“AOCI”) as reported in the consolidated statements of equity as at December 31, 2021 and December 31, 2020 is presented in the table below:

	Gain (loss) deferred in OCI on derivative					Location of gain (loss) reclassified from OCI into earnings	Gain (loss) reclassified from OCI into earnings
	December 31, 2021			December 31, 2020			December 31, 2021		December 31, 2020
Foreign exchange forward contracts		(20	)		29	Cost of sales		11		(2	)
Foreign exchange forward contracts		(2	)		3	Selling, general and administrative		—		1
Foreign exchange forward contracts		(9	)		11	Research and development		1		2
Currency collars		(11	)		11	Cost of sales		4		(1	)
Currency collars		(1	)		1	Selling, general and administrative		1		—
Currency collars		(5	)		6	Research and development		2		—
Total		(48	)		61			19		—

Effect on Consolidated Statements of Income of Derivative Instruments Not Designated as Hedge

The effect on the consolidated statements of income for the year ended December 31, 2021 and December 31, 2020 of derivative instruments not designated as a hedge is presented in the table below:

	Location of gain (loss) recognized in earnings	Gain (loss) recognized in earnings
		December 31, 2021		December 31, 2020
Foreign exchange forward contracts	Other income and expenses, net		9		(13	)
Total			9		(13	)

Schedule of Financial Assets (Liabilities) Measured at Fair Value on Recurring Basis

The table below details financial assets (liabilities) measured at fair value on a recurring basis as at December 31, 2021:

	Fair Value Measurements using
	December 31, 2021			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Short-term deposits		291			291		—			—
Equity securities measured at fair value through earnings		29			29		—			—
Derivative assets designated as cash flow hedge		3			—		3			—
Derivative assets not designated as cash flow hedge		3			—		3			—
Derivative liabilities designated as cash flow hedge		(42	)		—		(42	)		—
Derivative liabilities not designated as cash flow hedge		(1	)		—		(1	)		—
Contingent consideration on business acquisitions		(77	)		—		—			(77	)
Total		206			320		(37	)		(77	)

The table below details financial assets (liabilities) measured at fair value on a recurring basis as at December 31, 2020:

	Fair Value Measurements using
	December 31, 2020			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Marketable securities – U.S. Treasury debt securities		133			133		—			—
Short-term deposits		581			581		—			—
Equity securities measured at fair value through earnings		25			25		—			—
Derivative assets designated as cash flow hedge		55			—		55			—
Derivative assets not designated as cash flow hedge		10			—		10			—
Derivative liabilities not designated as cash flow hedge		(2	)		—		(2	)		—
Contingent consideration on business acquisitions		(123	)		—		—			(123	)
Total		679			739		63			(123	)

Schedule of Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)

For liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the reconciliation between January 1, 2021 and December 31, 2021 is presented as follows:

		Fair Value Measurements using Significant Unobservable Inputs (Level 3)
January 1, 2021		123
Changes in fair value measurement		(38)
Currency translation adjustment		(8)
December 31, 2021		77
Amount of total losses for the period included in earnings attributable to liabilities still held at the reporting date		(2)

For liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the reconciliation between January 1, 2020 and December 31, 2020 is presented as follows:

		Fair Value Measurements using Significant Unobservable Inputs (Level 3)
January 1, 2020		—
Contingent consideration on business combinations		117
Changes in fair value measurement		1
Currency translation adjustment		5
December 31, 2020		123
Amount of total losses for the period included in earnings attributable to liabilities still held at the reporting date		—

Fair Value Information on Other Financial Assets and Liabilities Recorded at Amortized Cost

The following table includes additional fair value information on financial assets and liabilities as at December 31, 2021 and 2020:

	2021						2020
	Level		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Cash equivalents ⁽¹⁾		1		2,883		2,883		2,637		2,637
Short-term, deposits		1		291		291		581		581
Long-term debt
– Bank loans (including current portion)		2		1,152		1,152		583		583
– Senior unsecured convertible bonds issued on July 3, 2017 (Tranche B) ⁽²⁾		1		—		—		674		1,359
– Senior unsecured convertible bonds issued on August 4, 2020 ⁽³⁾		1		1,387		1,975		1,364		1,835

(1) Cash equivalents primarily correspond to deposits at call with banks.

described in Note 15. The fair value represented the market price of the bonds trading on the Frankfurt Stock Exchange.

Schedule of Methodologies Used to Estimate Fair Value

The methodologies used to estimate fair value are as follows:

Components	Methodology used to estimate fair value
Debt securities classified as available-for-sale	Quoted market prices for identical instruments
Foreign exchange forward contracts, currency options and collars	Quoted market prices for similar instruments
Equity securities measured at fair value through earnings	Quoted market prices for identical instruments
Equity securities carried at cost as a measurement alternative	Valuation of the underlying investments on a new round of third-party financing or upon liquidation
Long-term debt and current portion of long-term debt	Future cash flows on a borrowing-by-borrowing basis and discounting these future cash flows using the Company's incremental borrowing rates for similar types of borrowing arrangements
Cash and cash equivalents, short-term deposits, accounts receivable, short-term borrowings, and accounts payable	The carrying amounts reflected in the consolidated financial statements are considered as reasonable estimates of fair value due to the relatively short period of time between the origination of the instruments and their expected realization.

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2021

Transactions with Related Parties

Transactions with related parties were as follows:

	December 31,		December 31,		December 31,
	2021		2020		2019
Sales & other services		8		5		2
Other purchases		19		21		18
Accounts receivable		2		1		—

Accounting Policies - Additional Information (Detail) - USD ($)		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Summary Of Accounting Policies [Line Items]
Sustainability threshold for uncertain tax position		50.00%
Cumulative probability threshold for realization of income tax benefits		50.00%
Significant assets held for sale		$ 0	$ 0
Employees average service period to grant awards		3 years
Advertising expenses		$ 14,000,000	$ 12,000,000	$ 17,000,000
Debt securities		0
Decrease in long term deferred tax liabilities		$ 7,000,000
Subsequent Event [Member]
Summary Of Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2022
Increase in long term debt	$ 107,000,000
Convertible debt	1,500,000,000
Unamortized debt issuance cost	6,000,000
Decrease in long term deferred tax liabilities	15,000,000
Decrease in equity	92,000,000
Decrease in additional paid in capital	117,000,000
Increase in retained earnings	25,000,000
Long term debt increment up to nominal of unamortized debt issuance cost	$ 6,000,000
Dilutive effect of convertible bonds underlying number of shares	33,823,660
French [Member] \| Research tax credits [Member]
Summary Of Accounting Policies [Line Items]
Tax credit carryforward expiration term		3 years
Leases [Member]
Summary Of Accounting Policies [Line Items]
Operating and financing option to extend		true
Minimum [Member]
Summary Of Accounting Policies [Line Items]
Revenue recognition expected payment terms		30 days
Maximum [Member]
Summary Of Accounting Policies [Line Items]
Revenue recognition expected payment terms		90 days
Maximum [Member] \| Leases [Member]
Summary Of Accounting Policies [Line Items]
Short term lease payments excluding capitalization amount		$ 5,000
Trademarks and Licenses [Member] \| Minimum [Member]
Summary Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets		3 years
Trademarks and Licenses [Member] \| Maximum [Member]
Summary Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets		8 years
Purchased and Internally Developed Software [Member] \| Maximum [Member]
Summary Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets		4 years

Accounting Policies - Schedule of Property, Plant and Equipment Useful Lives (Detail)	12 Months Ended
	Dec. 31, 2021
Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	33 years
Facilities and Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	5 years
Facilities and Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	10 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	2 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	10 years
Computer and R&D Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	3 years
Computer and R&D Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	6 years
Other [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	2 years
Other [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of Property, Plant and Equipment, Average	5 years

Short-Term Deposits and Marketable Securities - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2020
Financing Receivable Recorded Investment [Line Items]
Short-term deposits	$ 291		$ 581
Marketable securities		$ 133	133
Proceeds from matured marketable securities	132	200
U.S. Treasury Debt Securities [Member]
Financing Receivable Recorded Investment [Line Items]
Marketable securities		$ 133	$ 133
Proceeds from matured marketable securities	$ 132

Short-Term Deposits and Marketable Securities - Changes in Value of Marketable Securities Reported in Current Assets on Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019
Marketable Securities [Line Items]
Beginning Balance	$ 133
Proceeds at maturity	(132)	$ (200)
Change in fair value included in OCI	(1)
Ending Balance		133
U.S. Treasury Debt Securities [Member]
Marketable Securities [Line Items]
Beginning Balance	133
Proceeds at maturity	(132)
Change in fair value included in OCI	$ (1)
Ending Balance		$ 133

Trade Accounts Receivable, Net - Trade Accounts Receivable, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Trade accounts receivable	$ 1,778	$ 1,481
Current expected credit losses allowance ("CECLA")	(19)	(16)
Total	$ 1,759	$ 1,465

Trade Accounts Receivable, Net - Schedule of Changes in Reported CECLA (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Receivables [Abstract]
CECLA as at December 31, 2020	$ (16)
Current-period adjustment to CECLA	(3)
CECLA as at December 31, 2021	$ (19)

Inventories - Inventories (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 223	$ 175
Work-in-process	1,235	1,120
Finished products	514	546
Total	$ 1,972	$ 1,841

Other Current Assets - Other Current Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Receivables from government agencies	$ 296	$ 244
Taxes and other government receivables	119	114
Advances	28	39
Prepayments	90	70
Loans and deposits	8	8
Interest receivable	1	3
Derivative instruments	6	65
Other current assets	33	41
Total	$ 581	$ 584

Business Combinations - Additional Information (Detail) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2020 USD ($) Acquisition	Jun. 30, 2020 Acquisition	Dec. 31, 2021 USD ($) Acquisition	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Number of Acquisitions \| Acquisition	3	1	1
Defined benefit pension obligation			$ 1
Increase in goodwill			1
Business acquisitions, deferred consideration	$ 20		19	$ 20
Business acquisitions, contingent consideration	$ 123		$ 77	123
Payment for business acquisitions, net of cash and cash equivalents acquired				113	$ 127
2020 Acquisitions [Member]
Business Acquisition [Line Items]
Name of acquired entity	entire share capital of Ultra Wide Band specialist BeSpoon, of the cellular IoT connectivity assets of Riot Micro and of the radio-frequency assets of SOMOS	French Gallium Nitride (GaN) innovator Exagan	minor acquisition in the Microcontrollers and Digital ICs Group
Payment for business acquisitions, before cash acquired				104
Cash acquired				1
Business acquisitions, deferred consideration	$ 18			18
Business acquisitions, contingent consideration	$ 117			117
Payment for business acquisitions, net of cash and cash equivalents acquired				$ 103

Business Combinations - Schedule of Fair Value of Identifiable Assets and Assumed Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 313	$ 330	$ 162
2020 Acquisitions [Member]
Business Acquisition [Line Items]
Property, plant and equipment	1	1
Deferred tax assets	5	5
Deferred tax liabilities	(18)	(18)
Net working capital	(5)	(4)
Goodwill	136	135
Total net assets at fair value	239	239
Purchase consideration	239	239
2020 Acquisitions [Member] \| Measurement Period Adjustments [Member]
Business Acquisition [Line Items]
Net working capital	(1)
Goodwill	1
2020 Acquisitions [Member] \| Technologies & Licenses [Member]
Business Acquisition [Line Items]
Technologies & licenses	108	108
2020 Acquisitions [Member] \| Technologies in Progress [Member]
Business Acquisition [Line Items]
Technologies & licenses	10	10
2020 Acquisitions [Member] \| Other Intangible Assets [Member]
Business Acquisition [Line Items]
Technologies & licenses	$ 2	$ 2

Goodwill - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 330	$ 162
Business combination		135
Measurement period adjustment	1	14
Foreign currency translation	(18)	19
Goodwill, Ending Balance	313	330
ADG [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	91	43
Business combination		24
Measurement period adjustment		14
Foreign currency translation	(8)	10
Goodwill, Ending Balance	83	91
AMS [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	2	2
Goodwill, Ending Balance	2	2
MDG [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	237	117
Business combination		111
Measurement period adjustment	1
Foreign currency translation	(10)	9
Goodwill, Ending Balance	$ 228	$ 237

Goodwill - Additional Information (Detail) - USD ($)	12 Months Ended
Goodwill - Additional Information (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill acquired		$ 135,000,000
Increase in goodwill	$ 1,000,000
Impairment loss of goodwill	0	0	$ 0
Norstel AB [Member]
Goodwill [Line Items]
Increase in goodwill		14,000,000
Riot Micro [Member]
Goodwill [Line Items]
Increase in goodwill	$ 1,000,000
ADG and MDG Segments [Member]
Goodwill [Line Items]
Goodwill acquired		$ 135,000,000

Other Intangible Assets, Net - Other Intangible Assets, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Gross Amount	$ 1,669	$ 1,599
Accumulated Amortization	(1,231)	(1,154)
Net Amount	438	445
Technologies & Licenses [Member]
Finite Lived Intangible Assets [Line Items]
Gross Amount	978	934
Accumulated Amortization	(675)	(623)
Net Amount	303	311
Purchased and Internally Developed Software [Member]
Finite Lived Intangible Assets [Line Items]
Gross Amount	567	537
Accumulated Amortization	(485)	(461)
Net Amount	82	76
Technologies in Progress [Member]
Finite Lived Intangible Assets [Line Items]
Gross Amount	52	56
Net Amount	52	56
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross Amount	72	72
Accumulated Amortization	(71)	(70)
Net Amount	$ 1	$ 2

Other Intangible Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 93	$ 79	$ 69
Acquired Licenses and Technologies [Member]
Finite Lived Intangible Assets [Line Items]
Impairment loss of intangible assets	$ 1	$ 4	$ 4

Other Intangible Assets, Net - Estimated Future Amortization Expense Related to Intangible Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
2022	$ 106
2023	92
2024	78
2025	55
2026	34
Thereafter	73
Net Amount	$ 438	$ 445

Property, Plant and Equipment, Net - Property, Plant and Equipment, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Gross Amount	$ 23,488	$ 22,605
Accumulated Depreciation	(17,828)	(18,009)
Net Amount	5,660	4,596
Land [Member]
Property, Plant and Equipment [Line Items]
Gross Amount	84	86
Net Amount	84	86
Buildings [Member]
Property, Plant and Equipment [Line Items]
Gross Amount	951	995
Accumulated Depreciation	(562)	(567)
Net Amount	389	428
Facilities and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross Amount	3,490	3,545
Accumulated Depreciation	(2,936)	(3,038)
Net Amount	554	507
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross Amount	17,085	16,689
Accumulated Depreciation	(13,786)	(13,859)
Net Amount	3,299	2,830
Computer and R&D Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross Amount	395	402
Accumulated Depreciation	(333)	(347)
Net Amount	62	55
Operating Lease Right-of-Use Assets [Member]
Property, Plant and Equipment [Line Items]
Gross Amount	314	290
Accumulated Depreciation	(114)	(99)
Net Amount	200	191
Other Tangible Assets [Member]
Property, Plant and Equipment [Line Items]
Gross Amount	147	118
Accumulated Depreciation	(97)	(99)
Net Amount	50	19
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Gross Amount	1,022	480
Net Amount	$ 1,022	$ 480

Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Depreciation charge	$ 952,000,000	$ 844,000,000	$ 785,000,000
Tax incentives and capital investment funding	13,000,000	10,000,000	54,000,000
Reduction in depreciation charges due to public funding	61,000,000	59,000,000	53,000,000
Cash proceeds from sale of property, plant and equipment	2,000,000	4,000,000	7,000,000
Impairment of long-lived assets	$ 0	$ 0	$ 3,000,000

Leases - Additional Information (Detail) - USD ($)	12 Months Ended
Leases - Additional Information (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Maximum [Member]
Lessee Lease Description [Line Items]
Finance lease right-of-use assets	$ 1,000,000	$ 1,000,000
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Remaining lease term	48 years
Minimum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	1 year

Leases - Schedule of Operating Lease (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
Right-of-use assets	$ 200	$ 191
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net	Property, plant and equipment, net
Current	$ 55	$ 54
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other payables and accrued liabilities	Other payables and accrued liabilities
Non-current	$ 148	$ 142
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Total lease liabilities	$ 203	$ 196

Leases - Schedule of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
2022	$ 59
2023	46
2024	30
2025	18
2026	13
Thereafter	84
Total future undiscounted cash outflows	250
Effect of discounting	(47)
Total operating lease liabilities	$ 203	$ 196

Leases - Schedule of Operating Lease Term and Discount Rate (Detail)	Dec. 31, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
Weighted average remaining lease term (in years)	9 years 4 months 17 days	9 years 3 days
Weighted average discount rate	2.69%	2.71%

Leases - Schedule of Operating Lease Cost and Cash Paid (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
Operating lease cost	$ 68	$ 65
Operating lease cash paid	$ 67	$ 65

Leases - Schedule of Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
Operating leases	$ 80	$ 40

Long-Term Investments - Long-Term Investments (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Long-term investments	$ 10	$ 10

Other Non-Current Assets - Other Non-Current Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Equity securities	$ 29	$ 25
Long-term State receivables	506	623
Defined benefit plans	15	4
Deposits and other non-current assets	89	72
Total	$ 639	$ 724

Other Non-Current Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Non-current assets sold without recourse	$ 118,000,000	$ 96,000,000
Minimum [Member]
Long-term receivables expected collection period	1 year
Maximum [Member]
Non-current assets sold , cost	$ 1,000,000	$ 1,000,000

Other Payables and Accrued Liabilities - Other Payables and Accrued Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Employee related liabilities	$ 536	$ 475
Employee compensated absences	181	164
Taxes other than income taxes	58	58
Advances	59	75
Derivative instruments	43	2
Defined benefit and contribution plans	34	32
Royalties	29	24
Current operating lease liabilities	55	54
Deferred and contingent consideration on business combinations	27
Others	79	82
Total	$ 1,101	$ 966

Long-Term Debt - Long-Term Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 2,539	$ 2,621
Less current portion	(143)	(795)
Total long-term debt, less current portion	2,396	1,826
0.73% due 2021, floating interest rate at Libor + 0.525% [Member]
Debt Instrument [Line Items]
Funding program loans from European Investment Bank ("EIB")		30
0.75% due 2021, floating interest rate at Libor + 0.572% [Member]
Debt Instrument [Line Items]
Funding program loans from European Investment Bank ("EIB")		29
0.06% due 2028, floating interest rate at Euribor + 0.589% [Member]
Debt Instrument [Line Items]
Funding program loans from European Investment Bank ("EIB")	202	250
0.05% due 2029, floating interest rate at Euribor + 0.564% [Member]
Debt Instrument [Line Items]
Funding program loans from European Investment Bank ("EIB")	222	270
0.15% due 2031, floating interest rate at Euribor + 0.660% [Member]
Debt Instrument [Line Items]
Funding program loans from European Investment Bank ("EIB")	187
0.06% due 2031, floating interest rate at Euribor + 0.583% [Member]
Debt Instrument [Line Items]
Funding program loans from European Investment Bank ("EIB")	379
0.15% due 2027, floating interest rate at Euribor + 0.690% [Member] \| Cassa Depositi e Prestiti SpA ("CDP") [Member]
Debt Instrument [Line Items]
Credit Facility	156
0.25% due 2024 (Tranche B) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Senior unsecured convertible bonds		674
Zero-coupon, due 2025 (Tranche A) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Senior unsecured convertible bonds	713	703
Zero-coupon, due 2027 (Tranche B) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Senior unsecured convertible bonds	674	661
0.37% (weighted average), due 2021-2028, fixed interest rate [Member]
Debt Instrument [Line Items]
Other Loans Payable	$ 6	$ 4

Long-Term Debt - Long-Term Debt (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jul. 03, 2017
0.73% due 2021, floating interest rate at Libor + 0.525% [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2021	2021
Interest rate	0.73%	0.73%
Description of floating rate basis	Libor + 0.525%	Libor + 0.525%
Basis spread on floating rate	0.525%	0.525%
0.75% due 2021, floating interest rate at Libor + 0.572% [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2021	2021
Interest rate	0.75%	0.75%
Description of floating rate basis	Libor + 0.572%	Libor + 0.572%
Basis spread on floating rate	0.572%	0.572%
0.06% due 2031, floating interest rate at Euribor + 0.583% [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2031	2031
Interest rate	0.06%	0.06%
Description of floating rate basis	Euribor + 0.583%	Euribor + 0.583%
Basis spread on floating rate	0.583%	0.583%
0.06% due 2028, floating interest rate at Euribor + 0.589% [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2028	2028
Interest rate	0.06%	0.06%
Description of floating rate basis	Euribor + 0.589%	Euribor + 0.589%
Basis spread on floating rate	0.589%	0.589%
0.15% due 2031, floating interest rate at Euribor + 0.660% [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2031	2031
Interest rate	0.15%	0.15%
Description of floating rate basis	Euribor + 0.660%	Euribor + 0.660%
Basis spread on floating rate	0.66%	0.66%
0.05% due 2029, floating interest rate at Euribor + 0.564% [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2029	2029
Interest rate	0.05%	0.05%
Description of floating rate basis	Euribor + 0.564%	Euribor + 0.564%
Basis spread on floating rate	0.564%	0.564%
0.15% due 2027, floating interest rate at Euribor + 0.690% [Member] \| Cassa Depositi e Prestiti SpA ("CDP") [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2027	2027
Interest rate	0.15%	0.15%
Description of floating rate basis	Euribor + 0.690%	Euribor + 0.690%
Basis spread on floating rate	0.69%	0.69%
0.25% due 2024 (Tranche B) [Member]
Debt Instrument [Line Items]
Interest rate			0.25%
0.25% due 2024 (Tranche B) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2024	2024
Interest rate	0.25%	0.25%
Zero-coupon, due 2025 (Tranche A) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2025	2025
Interest rate	0.00%	0.00%
0.37% (weighted average), due 2021-2028, fixed interest rate [Member]
Debt Instrument [Line Items]
Interest rate	0.37%	0.37%
0.37% (weighted average), due 2021-2028, fixed interest rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2021	2021
0.37% (weighted average), due 2021-2028, fixed interest rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2028	2028
Zero-coupon, due 2027 (Tranche B) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Long-term debt maturity date	2027	2027
Interest rate	0.00%	0.00%

Long-Term Debt - Long-Term Debt Denominated by Currencies (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt	$ 2,539	$ 2,621
U.S. dollar [Member]
Debt Instrument [Line Items]
Long-term debt	1,387	2,097
Euro [Member]
Debt Instrument [Line Items]
Long-term debt	$ 1,152	$ 524

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Long-Term Debt - Additional Information (Detail) $ / shares in Units, € in Millions			1 Months Ended		12 Months Ended
	Aug. 04, 2020 USD ($) $ / shares shares	Jul. 03, 2017 USD ($) $ / shares shares	Jul. 31, 2021 USD ($) Bond shares	Jul. 31, 2020 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2017	Jun. 01, 2021 EUR (€)	Dec. 31, 2020 EUR (€)	Aug. 01, 2017 EUR (€)
Debt Instrument [Line Items]
Conversion features of the instruments value	$ 215,000,000	$ 242,000,000				$ 184,000,000
Allocated debt issuance costs	1,000,000	1,000,000
Loss on financial instruments, net					$ (43,000,000)	(26,000,000)
Allocated debt deferred tax effect	30,000,000
Unamortized debt discount and issuance costs totaled					113,000,000
Medium Term Credit Facilities [Member]
Debt Instrument [Line Items]
Unutilized committed medium term credit facilities					910,000,000
Support R&D and Capital Expenditure Programs [Member] \| Italy and France [Member]
Debt Instrument [Line Items]
Increase in long term debt \| €									€ 500	€ 500
Amount outstanding					566,000,000	424,000,000
New Facility Agreement with CDP [Member]
Debt Instrument [Line Items]
Increase in long term debt \| €								€ 150
Amount outstanding					$ 156,000,000
Fair Value, Inputs, Level 3 [Member]
Debt Instrument [Line Items]
Fair value of liability component	1,362,000,000	1,266,000,000
Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Net proceeds from issuance of senior unsecured convertible bonds	1,567,000,000	$ 1,502,000,000
Zero-coupon, due 2022 (Tranche A) [Member]
Debt Instrument [Line Items]
Senior unsecured convertible bonds conversion premium rate		37.50%
Debt conversion, bond par value				$ 750,000,000
Conversion features of the instruments value				$ 0
Zero-coupon, due 2022 (Tranche A) [Member] \| Treasury Stock [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued \| shares				11,400,000
Zero-coupon, due 2022 (Tranche A) [Member] \| Fair Value, Inputs, Level 3 [Member]
Debt Instrument [Line Items]
Fair value of liability component				$ 739,000,000
Loss on financial instruments, net						$ 25,000,000
Zero-coupon, due 2022 (Tranche A) [Member] \| Measurement Input, Discount Rate [Member]
Debt Instrument [Line Items]
Debt discount rate		0.0270		0.008
Zero-coupon, due 2022 (Tranche A) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Debt instrument principal amount		$ 750,000,000
0.25%, due 2024 (Tranche B) [Member]
Debt Instrument [Line Items]
Debt instrument periodic payment					semi-annually
Senior unsecured convertible bonds conversion premium rate		37.50%
0.25%, due 2024 (Tranche B) [Member] \| Measurement Input, Discount Rate [Member]
Debt Instrument [Line Items]
Debt discount rate		0.0328
0.25%, due 2024 (Tranche B) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Debt instrument principal amount		$ 750,000,000
Long-term debt maturity date							2024
Interest rate		0.25%
Dual Tranche Senior Unsecured Convertible Bonds \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Debt instrument principal amount	$ 1,500,000,000	$ 1,500,000,000
Senior unsecured convertible bonds conversion price \| $ / shares		$ 20.54
Zero-coupon, due 2022 (Tranche A) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Long-term debt maturity date							2022
Zero Coupon Due Two Thousand Nineteen Tranche A \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Percentage at which bonds issued		101.265%
Tranche Two
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued \| shares		9,737
Tranche One
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued \| shares		9,737
Debt conversion, bond par value		$ 200,000
0.25% due 2024 (Tranche B) [Member]
Debt Instrument [Line Items]
Interest rate		0.25%
0.25% due 2024 (Tranche B) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Long-term debt maturity date					2024	2024
Interest rate					0.25%	0.25%			0.25%
Zero Coupon Due Two Thousand And Twenty Four Tranche B
Debt Instrument [Line Items]
Debt conversion, bond par value			$ 248,000,000
Conversion features of the instruments value			$ 0
Number of bonds settled \| Bond			3,750
Number of bonds settled on net-share basis \| Bond			1,238
Total consideration of bonds on net-share basis			$ 479,000,000
Number of bonds settled on full cash basis \| Bond			2,512
Total consideration of bonds on full cash basis			$ 1,015,000,000
Write-off of unamortized debt issuance costs					$ 1,000,000
Zero Coupon Due Two Thousand And Twenty Four Tranche B \| Treasury Stock [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Shares Issued \| shares			5,800,000
Zero Coupon Due Two Thousand And Twenty Four Tranche B \| Fair Value, Inputs, Level 3 [Member]
Debt Instrument [Line Items]
Fair value of liability component			$ 689,000,000
Loss on financial instruments, net					$ 44,000,000
Zero Coupon Due Two Thousand And Twenty Four Tranche B \| Measurement Input, Discount Rate [Member]
Debt Instrument [Line Items]
Debt discount rate			0.011
Zero-coupon, due 2025 (Tranche A) [Member]
Debt Instrument [Line Items]
Senior unsecured convertible bonds conversion premium rate	47.50%
Debt Conversion, Converted Instrument, Shares Issued \| shares	4,585
Debt conversion, bond par value	$ 200,000
Zero-coupon, due 2025 (Tranche A) [Member] \| Measurement Input, Discount Rate [Member]
Debt Instrument [Line Items]
Debt discount rate	0.0130
Zero-coupon, due 2025 (Tranche A) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Debt instrument principal amount	$ 750,000,000
Long-term debt maturity date					2025	2025
Percentage at which bonds issued	105.80%
Interest rate					0.00%	0.00%			0.00%
Senior unsecured convertible bonds conversion price \| $ / shares	$ 43.62
Zero-coupon, due 2027 (Tranche B) [Member]
Debt Instrument [Line Items]
Senior unsecured convertible bonds conversion price \| $ / shares	$ 45.10
Senior unsecured convertible bonds conversion premium rate	52.50%
Debt Conversion, Converted Instrument, Shares Issued \| shares	4,435
Debt conversion, bond par value	$ 200,000
Zero-coupon, due 2027 (Tranche B) [Member] \| Measurement Input, Discount Rate [Member]
Debt Instrument [Line Items]
Debt discount rate	0.0185
Zero-coupon, due 2027 (Tranche B) [Member] \| Senior Unsecured Convertible Bonds [Member]
Debt Instrument [Line Items]
Debt instrument principal amount	$ 750,000,000
Long-term debt maturity date					2027	2027
Percentage at which bonds issued	104.50%
Interest rate					0.00%	0.00%			0.00%

Long-Term Debt - Total Long-Term Debt Outstanding Maturities (Detail) $ in Millions	Dec. 31, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ 143
2023	143
2024	143
2025	893
2026	142
Thereafter	1,188
Total	$ 2,652

Post-Employment and Other Long-Term Employees Benefits - Changes in Benefit Obligation and Plan Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in plan assets:
Plan assets at fair value at beginning of year	$ 718
Plan assets at fair value at end of year	743	$ 718
Pension Benefits [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	1,216	1,036
Service cost	36	31	$ 27
Interest cost	21	21	24
Employee contributions	4	4
Plan amendments		1
Benefits paid	(25)	(13)
Effect of settlement	(8)	(2)
Business combination	3
Actuarial (gain) loss	(48)	83
Foreign currency translation and other adjustments	(34)	55
Benefit obligation at end of year	1,165	1,216	1,036
Change in plan assets:
Plan assets at fair value at beginning of year	718	597
Actual return on plan assets	32	84
Employer contributions	17	17
Employee contributions	4	4
Benefits paid	(12)	(3)
Effect of settlement	(8)
Business combination	2
Foreign currency translation and other adjustments	(10)	19
Plan assets at fair value at end of year	743	718	597
Funded status	(422)	(498)
Net amount recognized in the balance sheet consisted of the following:
Non-current assets	15	4
Current liabilities	(11)	(9)
Long-term liabilities	(426)	(493)
Net amount recognized	(422)	(498)
Other Long-Term Benefit [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	101	88
Service cost	13	11	5
Interest cost	1	1	1
Benefits paid	(5)	(11)
Actuarial (gain) loss		3
Foreign currency translation and other adjustments	(16)	9
Benefit obligation at end of year	94	101	$ 88
Change in plan assets:
Funded status	(94)	(101)
Net amount recognized in the balance sheet consisted of the following:
Current liabilities	(4)	(4)
Long-term liabilities	(90)	(97)
Net amount recognized	$ (94)	$ (101)

Post-Employment and Other Long-Term Employees Benefits - Accumulated Other Comprehensive Income (Loss) Before Tax Effects (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Accumulated other comprehensive loss, actuarial (gains)/losses, beginning balance	$ 216	$ 197
Net amount generated/arising in current year, actuarial (gains)/losses	(56)	21
Amortization, actuarial (gains)/losses	(12)	(13)
Foreign currency translation, actuarial (gains)/losses before tax	(6)	11
Accumulated other comprehensive loss, actuarial (gains)/losses, ending balance	142	216
Accumulated other comprehensive loss, prior service cost, beginning balance	3	3
Net amount generated/arising in current year, prior service cost		1
Amortization, prior service cost	(1)	(1)
Foreign currency translation adjustment	0	0
Accumulated other comprehensive loss, prior service cost, ending balance	2	3
Accumulated other comprehensive loss Total, beginning balance	219	200
Net amount generated/arising in current year, Total	(56)	22
Amortization, Total	(13)	(14)
Foreign currency translation adjustment, Total	(6)	11
Accumulated other comprehensive loss Total, ending balance	$ 144	$ 219

Post-Employment and Other Long-Term Employees Benefits - Schedule of Accumulated Benefit Obligations (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations	$ 1,004	$ 1,053
Other Long-Term Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations	$ 79	$ 83

Post-Employment and Other Long-Term Employees Benefits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Pension plans with accumulated benefit obligations in excess of plan assets, accumulated benefit obligation	$ 528	$ 773
Pension plans with accumulated benefit obligations in excess of plan assets, fair value of plan assets	134	327
Pension plans with expected projected benefit obligations in excess of plan assets, projected benefit obligation	499	675
Pension benefits components other than service cost,	10	12	$ 16
Accrued benefits related to defined contribution pension plans	23	23
Annual cost of defined contribution plans	101	91	$ 86
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plans with benefit obligations in excess of plan assets, benefit obligation	1,030	1,177
Employer contributions	17	$ 17
Expected contribution in cash	$ 26

Post-Employment and Other Long-Term Employees Benefits - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 36	$ 31	$ 27
Interest cost	21	21	24
Expected return on plan assets	(24)	(23)	(22)
Amortization of actuarial net loss (gain)	12	12	10
Amortization of prior service cost	1	1	1
Effect of settlement		1	3
Net periodic benefit cost	46	43	43
Other Long-Term Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	13	11	5
Interest cost	1	1	1
Amortization of actuarial net loss (gain)		3	7
Net periodic benefit cost	$ 14	$ 15	$ 13

Post-Employment and Other Long-Term Employees Benefits - Weighted Average Assumptions Used in Determination of Benefit Obligation and Plan Assets (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Discount rate	1.84%	1.45%
Salary increase rate	2.27%	2.43%
Expected long-term rate of return on funds for the pension expense of the following year	3.19%	3.44%
Net periodic benefit cost, Discount rate	1.45%	1.95%	2.75%
Net periodic benefit cost, Salary increase rate	2.43%	2.48%	2.32%
Net periodic benefit cost, Expected long-term rate of return on funds for the pension expense of the year	3.44%	4.04%	4.16%

Post-Employment and Other Long-Term Employees Benefits - Pension Plan Asset Allocation (Detail)	Dec. 31, 2021	Dec. 31, 2020
Allocation of pension plan assets	100.00%	100.00%
Cash and Cash Equivalents [Member]
Allocation of pension plan assets	1.00%	1.00%
Equity Securities [Member]
Allocation of pension plan assets	17.00%	23.00%
Government Debt Securities [Member]
Allocation of pension plan assets	12.00%	12.00%
Corporate Debt Securities [Member]
Allocation of pension plan assets	22.00%	15.00%
Investment Funds [Member]
Allocation of pension plan assets	21.00%	21.00%
Real Estate [Member]
Allocation of pension plan assets	1.00%	2.00%
Other (Mainly Insurance Assets - Contracts and Reserves) [Member]
Allocation of pension plan assets	26.00%	26.00%

Post-Employment and Other Long-Term Employees Benefits - Pension Plan Asset Allocation (Parenthetical) (Detail) - Investment Funds [Member]	Dec. 31, 2021	Dec. 31, 2020
Corporate Bonds
Defined benefit plan, plan assets target allocation percentage	73.00%	72.00%
Equity
Defined benefit plan, plan assets target allocation percentage	15.00%	13.00%
Other Instruments
Defined benefit plan, plan assets target allocation percentage	12.00%	15.00%

Post-Employment and Other Long-Term Employees Benefits - Pension Plan Asset Allocation Including Fair-Value Measurements (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 743	$ 718
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	5	4
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	130	167
Government Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	87	86
Corporate Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	164	105
Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	156	153
Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	10	11
Other (Mainly Insurance Assets - Contracts and Reserves) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	191	192
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	8	9
Fair Value, Inputs, Level 1 [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	5	4
Fair Value, Inputs, Level 1 [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2	2
Fair Value, Inputs, Level 1 [Member] \| Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1	3
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	568	547
Fair Value, Inputs, Level 2 [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	128	165
Fair Value, Inputs, Level 2 [Member] \| Government Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	87	86
Fair Value, Inputs, Level 2 [Member] \| Corporate Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	139	81
Fair Value, Inputs, Level 2 [Member] \| Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	155	150
Fair Value, Inputs, Level 2 [Member] \| Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	10	11
Fair Value, Inputs, Level 2 [Member] \| Other (Mainly Insurance Assets - Contracts and Reserves) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	49	54
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	167	162	$ 113
Fair Value, Inputs, Level 3 [Member] \| Corporate Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	25	24
Fair Value, Inputs, Level 3 [Member] \| Other (Mainly Insurance Assets - Contracts and Reserves) [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 142	$ 138

Post-Employment and Other Long-Term Employees Benefits - Reconciliation for Plan Assets Measured at Fair Value Using Unobservable Inputs (Level 3) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value at beginning of year	$ 718
Foreign currency translation adjustment	0	$ 0
Plan assets at fair value at end of year	743	718
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value at beginning of year	162	113
Contributions (employer and employee)	15	14
Actual return on plan assets	2	2
Net benefit payments	1	11
Settlements	(8)
Transfer in Level 3		10
Foreign currency translation adjustment	(5)	12
Plan assets at fair value at end of year	$ 167	$ 162

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Post-Employment and Other Long-Term Employees Benefits - Estimated Future Benefit Payments (Detail) $ in Millions	Dec. 31, 2021 USD ($)
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
2022	$ 38
2023	39
2024	48
2025	57
2026	67
From 2027 to 2031	299
Other Long-Term Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
2022	5
2023	4
2024	7
2025	9
2026	8
From 2027 to 2031	$ 41

Other Long-Term Liabilities - Summary of Other Long-Term Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities Noncurrent [Abstract]
Non-current operating lease liabilities	$ 148	$ 142
Contingent consideration on business combinations	70	123
Deferred consideration	19	20
Other long-term employee benefits	90	97
Long-term liability related to public funding	44	42
Others	64	64
Total	$ 416	$ 488

Shareholders' Equity - Additional Information (Detail)								1 Months Ended	3 Months Ended																12 Months Ended
Shareholders' Equity - Additional Information (Detail)	Jul. 01, 2021 USD ($)	May 27, 2021 $ / shares	Jun. 17, 2020 $ / shares	May 31, 2019 $ / shares	Mar. 27, 2019 $ / shares	May 31, 2018 $ / shares	Jan. 22, 2007	Oct. 31, 2016	Mar. 31, 2022 $ / shares	Dec. 31, 2021 USD ($) $ / shares shares	Sep. 30, 2021 $ / shares	Jun. 30, 2021 $ / shares	Mar. 31, 2021 $ / shares	Dec. 31, 2020 USD ($) $ / shares shares	Sep. 30, 2020 $ / shares	Jun. 30, 2020 $ / shares	Mar. 31, 2020 $ / shares	Dec. 31, 2019 USD ($) $ / shares	Sep. 30, 2019 $ / shares	Jun. 30, 2019 $ / shares	Mar. 31, 2019 $ / shares	Dec. 31, 2018 $ / shares	Sep. 30, 2018 $ / shares	Jun. 30, 2018 $ / shares	Dec. 31, 2021 USD ($) Bond $ / shares shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2007	Dec. 31, 2021 EUR (€) € / shares shares	Dec. 31, 2020 € / shares	May 20, 2012	May 20, 2011	May 20, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Authorized share capital \| €																														€ 1,810,000,000
Common stock, shares authorized										1,200,000,000				1,200,000,000											1,200,000,000	1,200,000,000				1,200,000,000
Preference stock, shares authorized										540,000,000				540,000,000											540,000,000	540,000,000				540,000,000
Common stock, nominal value \| € / shares																														€ 1.04	€ 1.04
Common stock, shares issued										911,276,920				911,239,420											911,276,920	911,239,420				911,276,920
Common stock, shares outstanding										906,518,057				905,415,002											906,518,057	905,415,002				906,518,057
Shares issued as a percentage of par value of the preference shares to be issued							25.00%
Preference shares outstanding maximum period																													2 years
Expiration period of options after date of grant, in years							10 years
Expiration extended period of options after date of grant,in years								10 years
Preference share issued										0				0											0	0				0
Company owned treasury stock										4,758,863				5,824,418											4,758,863	5,824,418				4,758,863
Transfer of treasury shares to employees under the Company's share based remuneration programs										67,933,213															67,933,213					67,933,213
Transfer of treasury shares to employees under the Company's share based remuneration during the year																									7,448,615
Total intrinsic value of options exercised \| $										$ 2,000,000				$ 2,000,000				$ 1,000,000							$ 2,000,000	$ 2,000,000	$ 1,000,000
Total intrinsic value of options outstanding \| $										1,000,000				2,000,000											1,000,000	2,000,000
Fair value of shares vested \| $																									181,000,000	141,000,000	114,000,000
Compensation cost, excluding payroll tax and social contribution, capitalized as part of inventory \| $										9,000,000				$ 6,000,000				$ 6,000,000							9,000,000	6,000,000	6,000,000
Total unrecognized compensation cost related to the grant of unvested shares \| $										$ 214,000,000															$ 214,000,000
Employee service share-based compensation, unvested awards, total compensation cost not yet recognized, period for recognition																									9 months
Deferred income tax benefit relating to unvested share based compensation expense \| $																									$ 14,000,000	10,000,000	9,000,000
Dividends, per share \| $ / shares		$ 0.24	$ 0.168	$ 0.24		$ 0.24				$ 0.06	$ 0.06	$ 0.06	$ 0.042	$ 0.042	$ 0.042	$ 0.042	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06
Dividends payable to stockholders \| $										$ 55,000,000				$ 42,000,000											55,000,000	42,000,000
Scenario, Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends, per share \| $ / shares									$ 0.06
Dividend Distribution First Installment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend paid \| $																									54,000,000	37,000,000	53,000,000	$ 54,000,000
Dividend Distribution Second Installment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend paid \| $																									55,000,000	38,000,000	53,000,000	54,000,000
Dividend Distribution Third Installment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend paid \| $																									54,000,000	34,000,000	48,000,000	$ 48,000,000
Dividend Distribution of Last Installment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend paid \| $																									38,000,000	53,000,000	54,000,000
Dividends payable to stockholders \| $										$ 55,000,000															55,000,000
Dividend Distribution Remaining Portion of Third Installment [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend paid \| $																									$ 4,000,000	$ 6,000,000	$ 6,000,000
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer of treasury shares to employees under the Company's share based remuneration during the year																									7,448,615
Vesting period of awards																									3 years
Vesting schedule for Supervisory Board																									one third of the total number of awards granted
Supervisory Board 2012 Plan [Member] \| Supervisory Board [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards are granted at the nominal value of the share \| € / shares																														€ 1.04
Vesting period of awards																									3 years
Vesting schedule for Supervisory Board																									one third every year
Employee Plan 2009 [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sub plan for employees of Company's European subsidiaries for statutory payroll tax purposes nonvested shares vested over requisite service period																																32.00%	32.00%	36.00%
Employee Plan 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value of nonvested shares granted to employees under Employee Plan \| $ / shares					$ 22.78
Employee Plan 2018 [Member] \| Performance Conditions [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares to vest					100.00%
Employee Plan 2018 [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer of treasury shares to employees under the Company's share based remuneration during the year																									2,710,450
2019 CEO Special Bonus [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer of treasury shares to employees under the Company's share based remuneration during the year																									11,654
Weighted average grant-date fair value of nonvested shares granted to employees under Employee Plan \| $ / shares																									$ 14.97
Employee Plan 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value of nonvested shares granted to employees under Employee Plan \| $ / shares																									$ 19.28
Employee Plan 2019 [Member] \| Performance Conditions [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares to vest																									66.67%
Employee Plan 2019 [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer of treasury shares to employees under the Company's share based remuneration during the year																									2,172,659
2020 CEO Special Bonus [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer of treasury shares to employees under the Company's share based remuneration during the year																									5,333
Weighted average grant-date fair value of nonvested shares granted to employees under Employee Plan \| $ / shares																									$ 26.64
Employee Plan 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value of nonvested shares granted to employees under Employee Plan \| $ / shares																									$ 30.17
Employee Plan 2020 [Member] \| Performance Conditions [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares to vest																									100.00%
Employee Plan 2020 [Member] \| Performance Conditions [Member] \| Share-based Payment Arrangement, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares to vest																									100.00%
Employee Plan 2020 [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer of treasury shares to employees under the Company's share based remuneration during the year																									2,547,419
Employee Plan 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value of nonvested shares granted to employees under Employee Plan \| $ / shares																									$ 39.20
Options expected to vest, options (in shares)										3,063,585															3,063,585					3,063,585
Employee Plan 2021 [Member] \| Performance Conditions [Member] \| Share-based Payment Arrangement, Tranche Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares to vest																									66.67%
Employee Plan 2021 [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer of treasury shares to employees under the Company's share based remuneration during the year																									1,100
Senior Unsecured Convertible Bonds [Member] \| Tranche B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company owned treasury stock										5,800,000															5,800,000					5,800,000
Debt instrument, convertible, number of debt instruments \| Bond																									3,750
Debt instrument, convertible, number of instruments converted \| Bond																									1,238
Senior Unsecured Convertible Bonds [Member] \| Tranche A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company owned treasury stock														11,400,000												11,400,000
Share Buy-Back Program Launched on November 5, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares authorized to repurchase										8,300,000															8,300,000					8,300,000
Stock repurchase program, remaining authorized repurchase amount \| $										$ 313,000,000															$ 313,000,000
Share Buy-Back Program Launched on July 1, 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares authorized to repurchase										3,900,000															3,900,000					3,900,000
Stock repurchase program, remaining authorized repurchase amount \| $	$ 1,040,000,000									$ 172,000,000															$ 172,000,000
Period of buy-back program	3 years

Shareholders' Equity - Summary of Grants under Outstanding Stock Award Plans (Detail)	12 Months Ended
	Dec. 31, 2021 shares
Employees [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	6,556,475
Employees [Member] \| 2020 CEO Special Bonus [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	16,000
Employees [Member] \| Employee Plan 2021 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	6,540,475
2011 [Member] \| Supervisory Board [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Year of grant	2011
Options granted	172,500
Options waived at grant	(30,000)
2012 [Member] \| Supervisory Board [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Year of grant	2012
Options granted	180,000
Options waived at grant	(22,500)
No Options Granted [Member] \| Supervisory Board [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Year of grant	Since 2013
July 24, 2018 [Member] \| Employees [Member] \| Employee Plan 2018 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	7,552,410
Grant date of Nonvested share	Jul. 24, 2018
December 20, 2018 [Member] \| Employees [Member] \| Employee Plan 2018 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	443,200
Grant date of Nonvested share	Dec. 20, 2018
May 23, 2019 [Member] \| Employees [Member] \| 2019 CEO Special Bonus [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	34,960
Grant date of Nonvested share	May 23, 2019
July 24, 2019 [Member] \| Employees [Member] \| Employee Plan 2019 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	7,752,940
Grant date of Nonvested share	Jul. 24, 2019
Share based compensation arrangement by share based payment award, Number of shares lost on performance	(1,161,966)
December 26, 2019 [Member] \| Employees [Member] \| Employee Plan 2019 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	246,750
Grant date of Nonvested share	Dec. 26, 2019
Share based compensation arrangement by share based payment award, Number of shares lost on performance	(17,013)
June 17, 2020 [Member] \| Employees [Member] \| 2020 CEO Special Bonus [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	16,000
Grant date of Nonvested share	Jun. 17, 2020
July 23, 2020 [Member] \| Employees [Member] \| Employee Plan 2020 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	7,437,580
Grant date of Nonvested share	Jul. 23, 2020
December 24, 2020 [Member] \| Employees [Member] \| Employee Plan 2020 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	562,350
Grant date of Nonvested share	Dec. 24, 2020
July 28, 2021 [Member] \| Employees [Member] \| Employee Plan 2021 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	6,327,205
Grant date of Nonvested share	Jul. 28, 2021
December 21, 2021 [Member] \| Employees [Member] \| Employee Plan 2021 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options granted	213,270
Grant date of Nonvested share	Dec. 21, 2021

Shareholders' Equity - Summary of Nonvested Share Activity (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vested, Number of Shares	(7,448,615)
Supervisory Board [Member] \| 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Year of grant	2011
Beginning Balance, Number of Shares	7,500	45,000
Options granted	172,500
Exercised	(7,500)	(37,500)
Ending Balance, Number of Shares		7,500
Supervisory Board [Member] \| 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Year of grant	2012
Beginning Balance, Number of Shares	50,000	65,000
Options granted	180,000
Exercised	(30,000)	(15,000)
Ending Balance, Number of Shares	20,000	50,000
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares	15,288,056
Options granted	6,556,475
Awards forfeited/waived, Number of Shares	(194,027)
Awards vested, Number of Shares	(7,448,615)
Ending Balance, Number of Shares	14,201,889	15,288,056
Employees [Member] \| Employee Plan 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares	2,718,685
Awards forfeited/waived, Number of Shares	(8,235)
Awards vested, Number of Shares	(2,710,450)
Ending Balance, Number of Shares		2,718,685
Employees [Member] \| 2019 CEO Special Bonus [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares	23,306
Awards vested, Number of Shares	(11,654)
Ending Balance, Number of Shares	11,652	23,306
Employees [Member] \| Employee Plan 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares	4,575,120
Awards forfeited/waived, Number of Shares	(46,062)
Awards vested, Number of Shares	(2,172,659)
Ending Balance, Number of Shares	2,356,399	4,575,120
Employees [Member] \| 2020 CEO Special Bonus [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted	16,000
Awards vested, Number of Shares	(5,333)
Ending Balance, Number of Shares	10,667
Employees [Member] \| Employee Plan 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Number of Shares	7,970,945
Awards forfeited/waived, Number of Shares	(97,860)
Awards vested, Number of Shares	(2,547,419)
Ending Balance, Number of Shares	5,325,666	7,970,945
Employees [Member] \| Employee Plan 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted	6,540,475
Awards forfeited/waived, Number of Shares	(41,870)
Awards vested, Number of Shares	(1,100)
Ending Balance, Number of Shares	6,497,505

Shareholders' Equity - Classification of Pre-Payroll Tax and Social Contribution Stock-Based Compensation Expense Included in Consolidated Statements of Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total pre-payroll tax and social contribution compensation	$ 221	$ 155	$ 145
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total pre-payroll tax and social contribution compensation	34	25	22
R&D [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total pre-payroll tax and social contribution compensation	70	51	46
SG&A [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total pre-payroll tax and social contribution compensation	$ 117	$ 79	$ 77

Shareholders' Equity - Changes in AOCI Attributable to Stockholders (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Balance	$ 450	$ 680	$ 421	$ 461
Cumulative tax impact	46	43	54	48
Balance, net of tax	496	723	475	509
OCI before reclassifications	(224)	245	(133)
Amounts reclassified from AOCI	(6)	14	93
OCI Balance	(230)	259	(40)
Cumulative tax impact	3	(11)	6
OCI Balance, net of tax	(227)	248	(34)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Balance	(48)	61	(3)	(39)
Cumulative tax impact	6	(8)		4
Balance, net of tax	(42)	53	(3)	(35)
OCI before reclassifications	(90)	64	(43)
Amounts reclassified from AOCI	(19)		79
OCI Balance	(109)	64	36
Cumulative tax impact	14	(8)	(4)
OCI Balance, net of tax	(95)	56	32
Accumulated Net Gains (Losses) on Available-for-Sale Securities [Member]
Balance		1	1	(2)
Balance, net of tax		1	1	(2)
OCI before reclassifications	(1)		3
OCI Balance	(1)		3
OCI Balance, net of tax	(1)		3
Accumulated Defined Benefit Plan Items [Member]
Balance	(162)	(231)	(223)	(179)
Cumulative tax impact	40	51	54	44
Balance, net of tax	(122)	(180)	(169)	(135)
OCI before reclassifications	56	(22)	(58)
Amounts reclassified from AOCI	13	14	14
OCI Balance	69	(8)	(44)
Cumulative tax impact	(11)	(3)	10
OCI Balance, net of tax	58	(11)	(34)
Foreign Currency Translation Adjustments ("CTA") [Member]
Balance	660	849	646	681
Balance, net of tax	660	849	646	$ 681
OCI before reclassifications	(189)	203	(35)
OCI Balance	(189)	203	(35)
OCI Balance, net of tax	$ (189)	$ 203	$ (35)

Shareholders' Equity - Schedule of Items Reclassified Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 7,435	$ 6,430	$ 5,860
Selling, general and administrative	(1,323)	(1,109)	(1,093)
Other components of pension benefit costs	(1,723)	(1,548)	(1,498)
Other components of pension benefit costs	(10)	(12)	(16)
Income tax benefit (expense)	(331)	(159)	(156)
Net income	2,006	1,108	1,033
Attributable to noncontrolling interest	(6)	(2)	(1)
Attributable to the parent company stockholders	2,000	1,106	1,032
Reclassification Out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	5	(11)	(80)
Attributable to noncontrolling interest	0	0	0
Attributable to the parent company stockholders	5	(11)	(80)
Reclassification Out of Accumulated Other Comprehensive Income [Member] \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit (expense)	(3)		10
Net income	16		(69)
Reclassification Out of Accumulated Other Comprehensive Income [Member] \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] \| Foreign Exchange Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	15	(3)	(51)
Selling, general and administrative	1	1	(6)
Other components of pension benefit costs	3	2	(22)
Reclassification Out of Accumulated Other Comprehensive Income [Member] \| Amortization of Actuarial Gains (Losses) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other components of pension benefit costs	(12)	(13)	(13)
Reclassification Out of Accumulated Other Comprehensive Income [Member] \| Amortization of Prior Service Cost [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other components of pension benefit costs	(1)	(1)	(1)
Income tax benefit (expense)	2	3	3
Net income	$ (11)	$ (11)	$ (11)

Revenues - Additional Information (Detail1)	Dec. 31, 2021
Maximum [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations term	1 year

Revenues - Additional Information (Detail)	12 Months Ended
Revenues - Additional Information (Detail)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue recognition and disaggregation payment terms description	The payment terms typically range between 30 and 90 days.
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member] \| Apple [Member]
Disaggregation of Revenue [Line Items]
Share of companies in consolidated net revenues	20.50%	23.90%	17.60%
Minimum [Member]
Disaggregation of Revenue [Line Items]
Revenue recognition and disaggregation payment terms	30 days
Maximum [Member]
Disaggregation of Revenue [Line Items]
Revenue recognition and disaggregation payment terms	90 days

Revenues - Summary of Consolidated Net Revenues Disaggregated by Reportable Segment, Geographical Region of Shipment, Nature and Market Channel (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Total net revenues	$ 12,761	$ 10,219	$ 9,556
Sales Channel, Directly to Consumer [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	8,486	7,411	6,720
Sales Channel, Through Intermediary [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	4,275	2,808	2,836
Net Sales [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	12,560	10,049	9,381
Service [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	169	132	148
Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	32	38	27
EMEA [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	2,557	1,966	2,265
Americas [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	1,525	1,165	1,351
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	$ 8,679	$ 7,088	$ 5,940

Segment Information - Net Revenues by Product Segment and by Product Line (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net revenues	$ 12,761	$ 10,219	$ 9,556
Product Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	12,739	10,206	9,543
ADG [Member] \| Product Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	4,350	3,284	3,606
AMS [Member] \| Product Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	4,623	3,892	3,299
MDG [Member] \| Product Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	3,766	3,030	2,638
Others [Member]
Segment Reporting Information [Line Items]
Net revenues	$ 22	$ 13	$ 13

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Segment Information - Operating Income by Reportable Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	$ 2,419	$ 1,323	$ 1,203
Product Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	2,442	1,496	1,307
AMS [Member] \| Product Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	1,015	810	596
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	2,442	1,496	1,307
Operating Segments [Member] \| ADG [Member] \| Product Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	512	182	357
Operating Segments [Member] \| MDG [Member] \| Product Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	915	504	354
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	(23)	(173)	(104)
Segment Reconciling Items [Member] \| Others [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (loss)	$ (23)	$ (173)	$ (104)

Segment Information - Reconciliation of Operating Income of Reportable Segments to Total Consolidated Operating Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ 2,419	$ 1,323	$ 1,203
Impairment, restructuring charges and other related closure costs	(2)	(11)	(5)
Gain on sale of non-current assets	5	14	7
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	2,442	1,496	1,307
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	(23)	(173)	(104)
Impairment, restructuring charges and other related closure costs	(2)	(11)	(5)
Unused capacity charges	(16)	(153)	(65)
Other unallocated manufacturing results	1	(8)	(25)
Gain on sale of non-current assets	3	11	6
Strategic and other research and development programs and other non-allocated provisions	$ (9)	$ (12)	$ (15)

Segment Information - Net Revenues (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 12,761	$ 10,219	$ 9,556
Netherlands [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	3,282	2,795	2,842
France [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	126	89	108
Italy [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	56	52	59
USA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,253	976	1,157
Singapore [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	7,442	5,817	4,857
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	586	479	520
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 16	$ 11	$ 13

- Definition

+ References

+ Details

Segment Information - Property, Plant & Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 5,660	$ 4,596
Netherlands [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	1,498	1,046
France [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	1,154	905
Italy [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	1,469	1,213
Other European Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	114	118
USA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	36	24
Singapore [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	671	604
Malaysia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	221	186
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 497	$ 500

Other Income and Expenses Net - Other Income and Expenses Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Income And Expenses [Abstract]
Public funding	$ 162	$ 231	$ 132
Phase-out and start-up costs		(8)	(38)
Exchange gains and losses, net	7	8
Patent costs	(10)	(11)	(1)
Gain on sale of non-current assets	5	14	7
COVID-19 incremental costs	(19)	(32)	0
Other, net	(4)		3
Total	$ 141	$ 202	$ 103

Other Income and Expenses Net - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Other Income And Expenses [Line Items]
Long-term liability related to public funding	$ 44	$ 42
Grant receivables (current and non-current)	195	206
Other Current Assets [Member]
Other Income And Expenses [Line Items]
Grant receivables, current	$ 111	$ 105

Impairment, Restructuring Charges and Other Related Closure Costs - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Cost And Reserve [Line Items]
Impairment, restructuring charges and other related closure costs	$ 2	$ 11	$ 5
Reversal for unused provisions	2	1	2
Bouskoura Restructuring Plan [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring charges	3	8
Licenses [Member]
Restructuring Cost And Reserve [Line Items]
Impairment charges	$ 1	$ 4	$ 7

Interest Income (Expense), Net - Summary of Interest Income (Expense), Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Income	$ 13	$ 34	$ 55
Expense	(42)	(54)	(54)
Total	$ (29)	$ (20)	$ 1

Interest Income (Expense), Net - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Investment Income [Line Items]
Capitalized borrowing cost	$ 0	$ 0	$ 0
U.S. Treasury Bonds [Member]
Net Investment Income [Line Items]
Interest income (expense), net	1,000,000	3,000,000	6,000,000
Senior Unsecured Convertible Debt Issued on July 3, 2017 [Member]
Net Investment Income [Line Items]
Interest expense	$ 14,000,000	36,000,000	39,000,000
Issued date of senior unsecured convertible bonds	Jul. 03, 2017
Senior Unsecured Convertible Debt Issued on August 4, 2020 [Member]
Net Investment Income [Line Items]
Interest expense	$ 23,000,000	9,000,000
Issued date of senior unsecured convertible bonds	Aug. 04, 2020
Senior Unsecured Convertible Debt [Member]
Net Investment Income [Line Items]
Non-cash interest expense accretion of discount on liability component	$ 34,000,000	$ 42,000,000	$ 37,000,000

Income Tax - Income (Loss) before Income Tax (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income (loss) recorded in the Netherlands	$ (20)	$ (19)	$ (9)
Income (loss) from foreign operations	2,357	1,286	1,198
Income before income taxes and noncontrolling interest	$ 2,337	$ 1,267	$ 1,189

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 940
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-Section 25
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section S99
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-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Tax - Income Tax Benefit (Expense) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Foreign taxes - current	$ (285)	$ (171)	$ (131)
Total current taxes	(285)	(171)	(131)
Foreign taxes - deferred	(46)	12	(25)
Total deferred taxes	(46)	12	(25)
Income tax expense	$ (331)	$ (159)	$ (156)
Effective tax rate	14.00%	13.00%	13.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Tax - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Netherlands statutory income taxes rate	25.00%	25.00%	25.00%
Effect of the tax benefits on basic earnings per share	$ 0.05	$ 0.04	$ 0.14
Maximum percentage of tax reduction from tax holidays	100.00%	100.00%	100.00%
Income tax holiday expiration date	Dec. 31, 2029
Legal inflationary index	(0.45%)
Deferred tax expense recorded as component of other comprehensive income (loss)	$ (3)	$ (11)
Cumulative amount of distributable earnings	4,148	3,783
Distributable earnings becoming taxable upon repatriation amount	447
Indefinitely reinvested by foreign subsidiaries	377
Deferred tax liability	7
Unrecognized tax benefits	81	19
Accrued interest and penalties related to uncertain tax positions			$ 1
Interest and penalties of unrecognized tax benefits	$ 7	7
Earliest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Open tax year	1997
Latest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Open tax year	2021
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Accrued interest and penalties related to uncertain tax positions	$ 1	$ 1
Netherlands [Member]
Operating Loss Carryforwards [Line Items]
Cumulative amount of distributable earnings	$ 3,701

Income Tax - Differences in Income Taxes Computed at Netherlands Statutory Rate and Effective Income Tax Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax benefit (expense) computed at statutory rate	$ (584)	$ (316)	$ (297)
Non-deductible and non-taxable permanent differences, net	4	(1)	4
Valuation allowance adjustments	(2)	11	2
Effect on deferred taxes of changes in enacted tax rates	6	(5)	14
Current year credits	39	40	50
Other tax and credits	(22)	(40)	(51)
Benefits from tax holidays	49	37	129
Net impact of changes to uncertain tax positions	(8)	(1)	(5)
Earnings of subsidiaries taxed at different rates	187	116	(2)
Income tax expense	$ (331)	$ (159)	$ (156)

Income Tax - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax loss carryforwards and investment credits	$ 707	$ 702
Less unrecognized tax benefit	(81)	(19)
Tax loss carryforwards net of unrecognized tax benefit	626	683
Inventory valuation	28	34
Impairment and restructuring charges	4	3
Fixed asset depreciation in arrears	52	82
Increased depreciation incentives	128	182
Capitalized development costs	121	107
Receivables for government funding	64	40
Tax credits granted on past capital investments	213	215
Pension service costs	82	104
Stock awards	14	11
Operating lease liabilities	39	36
Commercial accruals	12	13
Other temporary differences	25	26
Total deferred tax assets	1,408	1,536
Valuation allowances	(576)	(638)
Deferred tax assets, net	832	898
Accelerated fixed asset depreciation	(32)	(21)
Acquired intangible assets	(22)	(40)
Advances of government funding	(115)	(94)
Operating lease right-of-use assets	(39)	(36)
Other temporary differences	(36)	(43)
Deferred tax liabilities	(244)	(234)
Net deferred income tax asset	$ 588	$ 664

Income Tax - Gross Deferred Tax Assets on Tax Loss Carryforwards and Investment Credits Expiration (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
2022	$ 11
2023	11
2024	10
2025	11
2026	8
Thereafter	656
Total	$ 707	$ 702

Income Tax - Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Balance at beginning of year	$ 48	$ 48	$ 38
Additions based on tax positions related to the current year	72	1	7
Additions based on acquisitions related to the current year			5
Additions for tax positions of prior years	1	1	1
Reduction for tax positions of prior years	(1)	(2)	(1)
Settlements		(1)	(2)
Foreign currency translation	(2)	1
Balance at end of year	$ 118	$ 48	$ 48

Earnings per Share - Summary of Earnings per Share ("EPS") (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Basic EPS
Net income attributable to parent company	$ 2,000	$ 1,106	$ 1,032
Weighted average number of shares outstanding	904,332,429	894,578,477	894,297,697
Basic EPS	$ 2.21	$ 1.24	$ 1.15
Diluted EPS
Net income attributable to parent company	$ 2,000	$ 1,106	$ 1,032
Weighted average number of shares outstanding	904,332,429	894,578,477	894,297,697
Dilutive effect of stock awards	9,107,124	8,860,216	7,014,595
Dilutive effect of convertible bonds	11,402,645	16,291,279	2,333,493
Number of shares used in calculating diluted EPS	924,842,198	919,729,972	903,645,785
Diluted EPS	$ 2.16	$ 1.20	$ 1.14

Earnings per Share - Additional Information (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) $ / shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Stock price \| $ / shares	$ 48.88
Senior Unsecured Convertible Bonds [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Debt Instrument equity spread conversion price \| $	$ 153

Commitments - Company's Commitments (Detail) $ in Millions	Dec. 31, 2021 USD ($)
Recorded Unconditional Purchase Obligation [Line Items]
Purchase obligations, Total	$ 4,064
Purchase obligations, 2022	3,272
Purchase obligations, 2023	405
Purchase obligations, 2024	186
Purchase obligations, 2025	163
Purchase obligations, 2026	38
Other obligations, Total	1,059
Other obligations, 2022	621
Other obligations, 2023	172
Other obligations, 2024	107
Other obligations, 2025	63
Other obligations, 2026	30
Other obligations, Thereafter	66
Company's commitments, Total	5,123
Company's commitments, 2022	3,893
Company's commitments, 2023	577
Company's commitments, 2024	293
Company's commitments, 2025	226
Company's commitments, 2026	68
Company's commitments, Thereafter	66
Equipment Purchase [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Purchase obligations, Total	2,412
Purchase obligations, 2022	2,406
Purchase obligations, 2023	6
Foundry Purchase [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Purchase obligations, Total	1,488
Purchase obligations, 2022	768
Purchase obligations, 2023	358
Purchase obligations, 2024	167
Purchase obligations, 2025	157
Purchase obligations, 2026	38
Software, Design, Technologies and Licenses [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Purchase obligations, Total	164
Purchase obligations, 2022	98
Purchase obligations, 2023	41
Purchase obligations, 2024	19
Purchase obligations, 2025	$ 6

Financial Instruments and Risk Management - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021 USD ($) Customer	Dec. 31, 2020 USD ($) Customer	Dec. 31, 2019 USD ($)
Derivative [Line Items]
Maximum percentage for Research and Development and Corporate costs of the total forecasted transactions	80.00%
Maximum percentage for manufacturing costs of forecasted transactions	70.00%
Maximum percentage for designated hedged item of forecasted transactions	100.00%
Hedge exposure to the variability of cash flows for forecasted transactions	24 months
Deferred losses on derivative instrument, net of tax	$ 48,000,000
Period of Accumulated other comprehensive income (loss)	12 months
Fair value of assets	$ 6,000,000	$ 65,000,000
Fair value of liabilities	$ 43,000,000	$ 2,000,000
Maximum outstanding amount per instrument with each Bank , as percentage of total	20.00%
Number of customer represented more than 10% of trade accounts receivable \| Customer	0	0
Contingent consideration, liability	$ 77,000,000	$ 123,000,000
Change in fair value of contingent consideration	40,000,000
Impairment charge on investments	0	0	$ 0
Fair value measurement with unobservable inputs reconciliation non-recurring basis asset liability value	0	0
Unrealized loss position	0	0
Other Payables and Accrued Liabilities [Member]
Derivative [Line Items]
Contingent consideration, liability	7,000,000
Other Long-Term Liabilities [Member]
Derivative [Line Items]
Contingent consideration, liability	70,000,000	123,000,000
Cost of Sales [Member]
Derivative [Line Items]
Change in fair value of contingent consideration	6,000,000
R&D [Member]
Derivative [Line Items]
Change in fair value of contingent consideration	34,000,000
Foreign Exchange Contract [Member] \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] \| Reclassification Out of Accumulated Other Comprehensive Income [Member] \| Cost of Sales [Member]
Derivative [Line Items]
Realized gain (loss) on reduction in operating expenses	(15,000,000)	3,000,000	51,000,000
Foreign Exchange Contract [Member] \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] \| Reclassification Out of Accumulated Other Comprehensive Income [Member] \| Operating Expense [Member]
Derivative [Line Items]
Realized gain (loss) on reduction in operating expenses	(4,000,000)	$ (3,000,000)	28,000,000
Currency Collars [Member] \| Option One [Member]
Derivative [Line Items]
Fair value of net assets (liabilities)	1,000,000
Fair value of assets	2,000,000
Fair value of liabilities	1,000,000
Currency Collars [Member] \| Option Two [Member]
Derivative [Line Items]
Fair value of net assets (liabilities)	13,000,000
Fair value of assets	1,000,000
Fair value of liabilities	14,000,000
Foreign Exchange Forward Contracts [Member]
Derivative [Line Items]
Fair value of assets	5,000,000
Fair value of liabilities	$ 30,000,000
Minimum [Member]
Derivative [Line Items]
Major customer percentage of trade accounts receivable	10.00%	10.00%
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount of Derivative Instruments	$ 505,000,000	$ 897,000,000	575,000,000
Foreign currency forward contracts maturity term	47 days
Fair value of assets	$ 3,000,000	10,000,000
Fair value of liabilities	1,000,000	2,000,000
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Forward Contracts [Member] \| Other Payables and Accrued Liabilities [Member]
Derivative [Line Items]
Fair value of liabilities	$ 1,000,000	2,000,000
Not Designated as Hedging Instrument [Member] \| Minimum [Member]
Derivative [Line Items]
Foreign currency forward contracts remaining terms	4 days
Not Designated as Hedging Instrument [Member] \| Maximum [Member]
Derivative [Line Items]
Foreign currency forward contracts remaining terms	335 days
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount of Derivative Instruments	$ 2,165,000,000	1,502,000,000	$ 1,328,000,000
Foreign currency forward contracts maturity term	142 days
Fair value of assets	$ 3,000,000	$ 55,000,000
Fair value of liabilities	42,000,000
Designated as Hedging Instrument [Member] \| Currency Collars [Member] \| Other Payables and Accrued Liabilities [Member]
Derivative [Line Items]
Fair value of liabilities	13,000,000
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward Contracts [Member] \| Other Payables and Accrued Liabilities [Member]
Derivative [Line Items]
Fair value of liabilities	$ 29,000,000
Designated as Hedging Instrument [Member] \| Minimum [Member]
Derivative [Line Items]
Foreign currency forward contracts remaining terms	5 days
Designated as Hedging Instrument [Member] \| Maximum [Member]
Derivative [Line Items]
Foreign currency forward contracts remaining terms	13 months

Financial Instruments and Risk Management - Notional Amounts of Outstanding Derivative Instruments (Detail) - Dec. 31, 2021 - Designated as Hedging Instrument [Member]	EUR (€)	SGD ($)
Foreign Exchange Forward Contracts [Member]
Derivative [Line Items]
Notional amount of Derivative Instruments	€ 343,000,000
Notional amount of Derivative Instruments	604,000,000	$ 214,000,000
Currency Collars [Member]
Derivative [Line Items]
Notional amount of Derivative Instruments	310,000,000
Notional amount of Derivative Instruments	€ 514,000,000

Financial Instruments and Risk Management - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	$ 6	$ 65
Total Liability Derivatives	(43)	(2)
Foreign Exchange Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	5
Total Liability Derivatives	(30)
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	3	55
Total Liability Derivatives	(42)
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward Contracts [Member] \| Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	2	40
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward Contracts [Member] \| Other Payables and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Total Liability Derivatives	(29)
Designated as Hedging Instrument [Member] \| Currency Collars [Member] \| Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	1	15
Designated as Hedging Instrument [Member] \| Currency Collars [Member] \| Other Payables and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Total Liability Derivatives	(13)
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	3	10
Total Liability Derivatives	(1)	(2)
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Forward Contracts [Member] \| Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Total Asset Derivatives	3	10
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Forward Contracts [Member] \| Other Payables and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Total Liability Derivatives	$ (1)	$ (2)

Financial Instruments and Risk Management - Effect on Consolidated Statements of Income of Derivative Instruments (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) deferred in OCI on derivative	$ (48)	$ 61
Gain (loss) reclassified from OCI into earnings	19
Foreign Exchange Forward Contracts [Member] \| Cost of Sales [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) deferred in OCI on derivative	(20)	29
Gain (loss) reclassified from OCI into earnings	11	(2)
Foreign Exchange Forward Contracts [Member] \| SG&A [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) deferred in OCI on derivative	(2)	3
Gain (loss) reclassified from OCI into earnings		1
Foreign Exchange Forward Contracts [Member] \| R&D [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) deferred in OCI on derivative	(9)	11
Gain (loss) reclassified from OCI into earnings	1	2
Currency Collars [Member] \| Cost of Sales [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) deferred in OCI on derivative	(11)	11
Gain (loss) reclassified from OCI into earnings	4	(1)
Currency Collars [Member] \| SG&A [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) deferred in OCI on derivative	(1)	1
Gain (loss) reclassified from OCI into earnings	1
Currency Collars [Member] \| R&D [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) deferred in OCI on derivative	(5)	$ 6
Gain (loss) reclassified from OCI into earnings	$ 2

Financial Instruments and Risk Management - Effect on Consolidated Statements of Income of Derivative Instruments Not Designated as Hedge (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange forward contracts	$ 9	$ (13)
Foreign Exchange Forward Contracts [Member] \| Other Income and Expenses, Net [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange forward contracts	$ 9	$ (13)

Financial Instruments and Risk Management - Schedule of Financial Assets (Liabilities) Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 29	$ 25
Derivative instruments	6	65
Derivative instruments	(43)	(2)
Contingent consideration on business acquisitions	(77)	(123)
Total	206	679
Fair Value Through Earnings [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	29	25
Short-Term Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	291	581
U.S. Treasury Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		133
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	320	739
Fair Value, Inputs, Level 1 [Member] \| Fair Value Through Earnings [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	29	25
Fair Value, Inputs, Level 1 [Member] \| Short-Term Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	291	581
Fair Value, Inputs, Level 1 [Member] \| U.S. Treasury Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities		133
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	(37)	63
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration on business acquisitions	(77)	(123)
Total	(77)	(123)
Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	3	55
Derivative instruments	(42)
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	3	55
Derivative instruments	(42)
Designated as Hedging Instrument [Member] \| Fair Value, Inputs, Level 2 [Member] \| Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	3	55
Derivative instruments	(42)
Not Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	3	10
Derivative instruments	(1)	(2)
Not Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	3	10
Derivative instruments	(1)	(2)
Not Designated as Hedging Instrument [Member] \| Fair Value, Inputs, Level 2 [Member] \| Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments	3	10
Derivative instruments	$ (1)	$ (2)

Financial Instruments and Risk Management - Schedule of Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Opening position	$ 123
Changes in fair value measurement	(38)	$ 1
Currency translation adjustment	(8)	5
Closing position	77	123
Amount of total losses for the period included in earnings attributable to liabilities still held at the reporting date	$ (2)
Contingent consideration on business combinations		$ 117

Financial Instruments and Risk Management - Fair Value Information on Other Financial Assets and Liabilities Recorded at Amortized Cost (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 3,225	$ 3,006
Short-term, deposits	291	581
Estimate Fair Value [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,883	2,637
Short-term, deposits	291	581
Estimate Fair Value [Member] \| Fair Value, Inputs, Level 1 [Member] \| Senior Unsecured Convertible Bonds Issued on July 3, 2017 Tranche B [Member]
Long-term debt
Senior unsecured convertible bonds		1,359
Estimate Fair Value [Member] \| Fair Value, Inputs, Level 1 [Member] \| Senior Unsecured Convertible Bonds Issued on August 4, 2020 [Member]
Long-term debt
Senior unsecured convertible bonds	1,975	1,835
Estimate Fair Value [Member] \| Fair Value, Inputs, Level 2 [Member]
Long-term debt
Bank loans (including current portion)	1,152	583
Carrying Amount [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,883	2,637
Short-term, deposits	291	581
Carrying Amount [Member] \| Fair Value, Inputs, Level 1 [Member] \| Senior Unsecured Convertible Bonds Issued on July 3, 2017 Tranche B [Member]
Long-term debt
Senior unsecured convertible bonds		674
Carrying Amount [Member] \| Fair Value, Inputs, Level 1 [Member] \| Senior Unsecured Convertible Bonds Issued on August 4, 2020 [Member]
Long-term debt
Senior unsecured convertible bonds	1,387	1,364
Carrying Amount [Member] \| Fair Value, Inputs, Level 2 [Member]
Long-term debt
Bank loans (including current portion)	$ 1,152	$ 583

Financial Instruments and Risk Management - Fair Value Information on Other Financial Assets and Liabilities Recorded at Amortized Cost (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Offsetting [Abstract]
Conversion features of the instruments value	$ 215

Financial Instruments and Risk Management - Schedule of Methodologies Used to Estimate Fair Value (Detail)	12 Months Ended
	Dec. 31, 2021
Debt Securities Classified as Available for Sale [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Methodology used to estimate fair value	Quoted market prices for identical instruments
Foreign Exchange Forward Contracts Currency Options and Collars [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Methodology used to estimate fair value	Quoted market prices for similar instruments
Equity Securities Measured at Fair Value Through Earnings [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Methodology used to estimate fair value	Quoted market prices for identical instruments
Equity Securities Carried at Cost as a Measurement Alternative [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Methodology used to estimate fair value	Valuation of the underlying investments on a new round of third-party financing or upon liquidation
Long-term Debt and Current Portion of Long Term Debt [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Methodology used to estimate fair value	Future cash flows on a borrowing-by-borrowing basis and discounting these future cash flows using the Company's incremental borrowing rates for similar types of borrowing arrangements
Cash And Cash Equivalents, Short-Term Deposits, Accounts Receivable, Short-Term Borrowings, and Accounts Payable [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Methodology used to estimate fair value	The carrying amounts reflected in the consolidated financial statements are considered as reasonable estimates of fair value due to the relatively short period of time between the origination of the instruments and their expected realization.

Related Party Transactions - Transactions with Related Parties (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Sales & other services	$ 8	$ 5	$ 2
Other purchases	19	21	$ 18
Accounts receivable	$ 2	$ 1

- Definition

For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section S99
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.7-03.3)
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

+ Details

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
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-Subparagraph (SX 210.5-03.1(e))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
ST Foundation [Member]
Related Party Transaction [Line Items]
Contributed cash amounts to ST Foundation	$ 0.5	$ 0.5	$ 0.4

Valuation and Qualifying Accounts (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for Trade Receivables [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	$ 16	$ 16	$ 15
Additions/ (Deductions)	3		1
Balance at end of period	19	16	16
Valuation Allowance of Deferred Tax Assets [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	638	1,534	1,548
Translation adjustment	(24)	28	(4)
Charged to costs and expenses	(2)	(11)
Additions/ (Deductions)	(36)	(913)	(10)
Balance at end of period	$ 576	$ 638	$ 1,534