36 unchanged sentences
We have a 52/53-week fiscal year ending on the Friday closest to March 31.
−Removed: The three months ended October 3, 2025 and September 27, 2024 each consisted of 13 weeks.
−Removed: The six months ended October 3, 2025 consisted of 27 weeks, whereas the six months ended September 27, 2024 consisted of 26 weeks.
+Added: The three months ended January 2, 2026 and December 27, 2024 each consisted of 13 weeks.
+Added: The nine months ended January 2, 2026 consisted of 40 weeks, whereas the nine months ended December 27, 2024 consisted of 39 weeks.
Our 2026 fiscal year consists of 53 weeks and ends on April 3, 2026.
1 unchanged sentence
The following tables provide our key financial metrics for the periods presented:
−Removed: Three Months Ended Six Months Ended
−Removed: (In millions, except for per share amounts) October 3, 2025 September 27, 2024 October 3, 2025 September 27, 2024
+Added: Three Months Ended Nine Months Ended
+Added: (In millions, except for per share amounts) January 2, 2026 December 27, 2024 January 2, 2026 December 27, 2024
Net revenues $ 1,240 $ 986 $ 3,717 $ 2,925
2 unchanged sentences
Net income (loss) per share - diluted $ 0.31 $ 0.26 $ 0.74 $ 0.80
−Removed: (In millions) October 3, 2025 March 28, 2025
+Added: (In millions) January 2, 2026 March 28, 2025
Cash, cash equivalents and restricted cash
1 unchanged sentence
Contract liabilities $ 1,906 $ 1,923
−Removed: Below are our financial highlights for the second quarter of fiscal 2026, compared to the corresponding period in the prior year:
+Added: Below are our financial highlights for the third quarter of fiscal 2026, compared to the corresponding period in the prior year:
• Net revenues increased $254 million, primarily due to higher sales in both our Cyber Safety Platform products and Trust-Based Solutions, including an increase of $218 million due to the acquisition of MoneyLion, reported in Trust-Based Solutions.
−Removed: • Operating income increased $36 million, primarily due to increased net revenues described above, offset by an increase in marketing costs, payment processing fees, amortization of intangible assets and compensation related expenses.
−Removed: • Net income decreased $27 million and net income per share decreased $0.05, primarily due to a decrease in other income (expense), net resulting from changes in fair value and impairment of our non-marketable equity investments partially offset by an increase in operating income as discussed above.
−Removed: Below are our financial highlights for the first six months of fiscal 2026, compared to the corresponding period in the prior year:
+Added: • Operating income increased $59 million, primarily due to increased net revenues described above, largely offset by an increase in marketing costs, payment processing fees, amortization of intangible assets and compensation related expenses.
+Added: • Net income increased $33 million and net income per share increased $0.05, primarily due to an increase in operating income as discussed above and a decrease in other income (expense), net resulting from impairment of our non-marketable equity investments and gain on sale of nonfinancial assets.
+Added: This is partially offset by an increase in income tax expense.
+Added: Below are our financial highlights for the first nine months of fiscal 2026, compared to the corresponding period in the prior year:
• Net revenues increased $792 million, primarily due to higher sales in both our Cyber Safety Platform products and Trust-Based Solutions, including an increase of $588 million due to the acquisition of MoneyLion, and an increase of $87 million due to the favorable impact from the additional week in the first quarter of fiscal 2026.
−Removed: • Operating income increased $65 million, primarily due to increased net revenues described above, offset by an increase in marketing costs, payment processing fees, amortization of intangible assets and compensation related expenses.
−Removed: • Net income decreased $73 million and net income per share decreased $0.12, primarily due to a decrease in other income (expense), net resulting from changes in fair value and impairment of our non-marketable equity investments and an increase in income tax expense partially offset by an increase in operating income as discussed above.
−Removed: • Cash and cash equivalents decreased by $305 million compared to March 28, 2025, primarily due to the cash consideration paid for our acquisition of MoneyLion, timing of principal payments of our Term A and B facilities and cash interest paid.
−Removed: This is partially offset by proceeds from the issuance of our Incremental Term Loan B and cash generated from operating activities during the first six months of fiscal 2026.
+Added: • Operating income increased $124 million, primarily due to increased net revenues described above, largely offset by an increase in marketing costs, payment processing fees, amortization of intangible assets and compensation related expenses.
+Added: • Net income decreased $40 million and net income per share decreased $0.06, primarily due to an increase in income tax expense partially offset by an increase in operating income as discussed above.
+Added: • Cash, cash equivalents and restricted cash decreased by $387 million compared to March 28, 2025, primarily due to the cash consideration paid for our acquisition of MoneyLion, principal payments of our Term A and B facilities and share repurchases.
+Added: This is partially offset by proceeds from the issuance of our Incremental Term Loan B and cash generated from operating activities during the first nine months of fiscal 2026.
• Contract liabilities decreased $17 million compared to March 28, 2025, primarily due to billing seasonality.
13 unchanged sentences
The preparation of our Condensed Consolidated Financial Statements and related notes in accordance with generally accepted accounting principles in the U.S.
−Removed: requires us to make estimates, including judgments and assumptions that affect the
−Removed: reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities.
+Added: requires us to make estimates, including judgments and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities.
We have based our estimates, judgments and assumptions on historical experience and on various other factors we believe to be reasonable under the circumstances.
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Our critical accounting policies and estimates were disclosed in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the fiscal year ended March 28, 2025 and significant policies adopted as a result of our acquisition of MoneyLion are included in Note 1 on this Form 10-Q.
−Removed: There have been no other material changes in the matters for which we make critical accounting estimates in the preparation of our Condensed Consolidated Financial Statements during the three and six months ended October 3, 2025.
+Added: There have been no other material changes in the matters for which we make critical accounting estimates in the preparation of our Condensed Consolidated Financial Statements during the three and nine months ended January 2, 2026.
RESULTS OF OPERATIONS
The following table sets forth our Condensed Consolidated Statements of Operations data as a percentage of net revenues for the periods indicated:
−Removed: Three Months Ended Six Months Ended
−Removed: October 3, 2025 September 27, 2024 October 3, 2025 September 27, 2024
+Added: Three Months Ended Nine Months Ended
+Added: January 2, 2026 December 27, 2024 January 2, 2026 December 27, 2024
Net revenues 100 % 100 % 100 % 100 %
15 unchanged sentences
Percentages may not add due to rounding.
−Removed: Three Months Ended Six Months Ended
−Removed: (In millions, except for percentages) October 3, 2025 September 27, 2024 Change in % October 3, 2025 September 27, 2024 Change in %
+Added: Three Months Ended Nine Months Ended
+Added: (In millions, except for percentages) January 2, 2026 December 27, 2024 Change in % January 2, 2026 December 27, 2024 Change in %
Net revenues $ 1,240 $ 986 26 % $ 3,717 $ 2,925 27 %
−Removed: Three Months Ended October 3, 2025 Compared with Three Months Ended September 27, 2024
+Added: Three Months Ended January 2, 2026 Compared with Three Months Ended December 27, 2024
Net revenues increased $254 million, due to a $20 million increase in sales of our Cyber Safety Platform products and a $234 million increase in sales of our Trust-Based Solutions, including a $218 million increase in Trust-Based Solutions due to the acquisition of MoneyLion.
−Removed: Six Months Ended October 3, 2025 Compared with Six Months Ended September 27, 2024
+Added: Nine Months Ended January 2, 2026 Compared with Nine Months Ended December 27, 2024
Net revenues increased $792 million, due to a $134 million increase in sales of our Cyber Safety Platform products and a $658 million increase in sales of our Trust-Based Solutions, including a $588 million increase in Trust-Based Solutions due to the acquisition of MoneyLion.
7 unchanged sentences
The following table summarizes supplemental key performance metrics:
−Removed: Three Months Ended Six Months Ended (1)
+Added: Three Months Ended Nine Months Ended
(In millions)
−Removed: October 3, 2025 September 27, 2024 October 3, 2025 September 27, 2024
+Added: January 2, 2026 December 27, 2024 January 2, 2026 December 27, 2024
Cyber Safety Platform $ 819 $ 799 $ 2,502 $ 2,368
11 unchanged sentences
(In millions)
−Removed: October 3, 2025 September 27, 2024
+Added: January 2, 2026 December 27, 2024
Total paid customers 78 67
−Removed: (1) From time to time, changes in allocation methodologies cause changes to the revenue categories above.
−Removed: When changes occur, we recast historical amounts to match the current methodology, such as for the six months ended October 3, 2025, where we aligned allocation methodologies across our channels.
−Removed: Revenue from Cyber Safety Platform increased $25 million and $114 million, respectively, during the three and six months ended October 3, 2025 due to growth across our cyber safety membership offerings and, for the six month period, the additional week in the first quarter of fiscal 2026.
−Removed: Revenue from Trust Based Solutions increased $221 million and $424 million, respectively, during the three and six months ended October 3, 2025 primarily due to the acquisition of MoneyLion, continued growth in our identity point solutions and, for the six month period, the additional week in the first quarter of fiscal 2026.
+Added: Revenue from Cyber Safety Platform increased $20 million and $134 million, respectively, during the three and nine months ended January 2, 2026 due to growth across our cyber safety membership offerings and, for the nine month period, the additional week in the first quarter of fiscal 2026.
+Added: Revenue from Trust-Based Solutions increased $234 million and $658 million, respectively, during the three and nine months ended January 2, 2026 primarily due to the acquisition of MoneyLion, continued growth in our identity point solutions and, for the nine month period, the additional week in the first quarter of fiscal 2026.
Direct revenue reflects subscriptions sold directly through e-commerce or mobile channels, and revenue generated from financial transactions directly made through Gen properties or marketplaces.
10 unchanged sentences
Net revenues by geographical region
−Removed: Three Months Ended Six Months Ended
−Removed: October 3, 2025 September 27, 2024 October 3, 2025 September 27, 2024
+Added: Three Months Ended Nine Months Ended
+Added: January 2, 2026 December 27, 2024 January 2, 2026 December 27, 2024
Americas 71 % 66 % 71 % 66 %
4 unchanged sentences
APJ includes Asia Pacific and Japan.
−Removed: Percentage of revenue in Americas increased primarily due to our acquisition of MoneyLion during the three and six months ended October 3, 2025 as compared to the three and six months ended September 27, 2024.
+Added: Percentage of revenue in Americas increased primarily due to our acquisition of MoneyLion during the three and nine months ended January 2, 2026 as compared to the three and nine months ended December 27, 2024.
Cost of revenues
−Removed: Three Months Ended Six Months Ended
−Removed: (In millions, except for percentages) October 3, 2025 September 27, 2024 Change in % October 3, 2025 September 27, 2024 Change in %
+Added: Three Months Ended Nine Months Ended
+Added: (In millions, except for percentages) January 2, 2026 December 27, 2024 Change in % January 2, 2026 December 27, 2024 Change in %
Cost of revenues $ 268 $ 193 39 % $ 801 $ 577 39 %
−Removed: Three Months Ended October 3, 2025 Compared with Three Months Ended September 27, 2024
−Removed: Cost of revenues, increased $72 million, primarily due to a $46 million increase in partner revenue share in Trust-Based Solutions, a $12 million increase in payment processing fees and an $8 million increase in amortization of intangible assets.
−Removed: Six Months Ended October 3, 2025 Compared with Six Months Ended September 27, 2024
−Removed: Cost of revenues, including the impact of one additional week, increased $149 million, primarily due to a $95 million increase in partner revenue share in Trust-Based Solutions, a $25 million increase in payment processing fees and a $16 million increase in amortization of intangible assets.
+Added: Three Months Ended January 2, 2026 Compared with Three Months Ended December 27, 2024
+Added: Cost of revenues increased $75 million, primarily due to a $43 million increase in partner revenue share mainly in Trust-Based Solutions, a $16 million increase in payment processing fees and an $11 million increase in amortization of intangible assets.
+Added: Nine Months Ended January 2, 2026 Compared with Nine Months Ended December 27, 2024
+Added: Cost of revenues, including the impact of one additional week, increased $224 million, primarily due to a $133 million increase in partner revenue share mainly in Trust-Based Solutions, a $40 million increase in payment processing fees and a $27 million increase in amortization of intangible assets.
Operating expenses
−Removed: Three Months Ended Six Months Ended
−Removed: (In millions, except for percentages) October 3, 2025 September 27, 2024 Change in % October 3, 2025 September 27, 2024 Change in %
+Added: Three Months Ended Nine Months Ended
+Added: (In millions, except for percentages) January 2, 2026 December 27, 2024 Change in % January 2, 2026 December 27, 2024 Change in %
Sales and marketing $ 307 $ 182 69 % $ 901 $ 549 64 %
4 unchanged sentences
Total operating expenses $ 539 $ 419 29 % $ 1,599 $ 1,155 38 %
−Removed: Three Months Ended October 3, 2025 Compared with Three Months Ended September 27, 2024
+Added: Three Months Ended January 2, 2026 Compared with Three Months Ended December 27, 2024
Sales and marketing expense increased $125 million, primarily due to a $55 million increase in loss on sale of Instacash Advances, a $41 million increase in marketing expenses, a $13 million increase in headcount costs and a $12 million increase in stock-based compensation expense.
−Removed: Research and development expense increased $17 million, primarily due to an $8 million increase in headcount costs, a $4 million increase in stock-based compensation expense and a $3 million increase in equipment expenses.
−Removed: General and administrative expense remained relatively flat.
+Added: Research and development expense increased $12 million, primarily due to a $4 million increase in headcount costs, a $3 million increase in stock-based compensation expense and a $3 million increase in equipment expenses.
+Added: General and administrative expense decreased $38 million, primarily due to a $53 million decrease in litigation settlement expense.
+Added: This is partially offset by a $9 million increase in stock-based compensation expense.
Amortization of intangible assets increased $12 million, primarily due to our acquisition of MoneyLion.
−Removed: Restructuring and other costs remained relatively flat.
+Added: Restructuring and other costs increased $9 million, primarily due to an increase in severance and termination benefits in connection with the April 2025 Plan.
See Note 12 of the Notes to the Condensed Consolidated Financial Statements for details of the fiscal 2026 restructuring activities.
−Removed: Six Months Ended October 3, 2025 Compared with Six Months Ended September 27, 2024
+Added: Nine Months Ended January 2, 2026 Compared with Nine Months Ended December 27, 2024
Sales and marketing expense, including the impact of one additional week, increased $352 million, primarily due to a $146 million increase in loss on sale of Instacash Advances, a $102 million increase in marketing expenses, a $53 million increase in headcount costs and a $37 million increase in stock-based compensation expense.
−Removed: Research and development expense, including the impact of one additional week, increased $45 million, primarily due to a $24 million increase in headcount costs, a $9 million increase in stock-based compensation expense and $6 million increase in occupancy and IT costs.
−Removed: General and administrative expense, including the impact of one additional week, increased $18 million, primarily due to a $22 million increase in stock-based compensation expense, a $16 million increase in headcount costs and an $8 million increase in provision for credit losses.
−Removed: This is partially offset by a $33 million decrease in litigation settlement expense.
+Added: Research and development expense, including the impact of one additional week, increased $57 million, primarily due to a $28 million increase in headcount costs, a $12 million increase in stock-based compensation expense and a $7 million increase in occupancy and IT costs.
+Added: General and administrative expense, including the impact of one additional week, decreased $20 million, primarily due to a $86 million decrease in litigation settlement expense.
+Added: This is partially offset by a $31 million increase in stock-based compensation expense, an $18 million increase in headcount costs and an $7 million increase in provision for credit losses on accounts receivables, net.
Amortization of intangible assets increased $34 million, primarily due to our acquisition of MoneyLion.
2 unchanged sentences
Non-operating income (expense), net
−Removed: Three Months Ended Six Months Ended
−Removed: (In millions) October 3, 2025 September 27, 2024 October 3, 2025 September 27, 2024
+Added: Three Months Ended Nine Months Ended
+Added: (In millions) January 2, 2026 December 27, 2024 January 2, 2026 December 27, 2024
Interest expense $ (137) $ (141) $ (439) $ (443)
3 unchanged sentences
(10) (30) (79) (30)
+Added: Gain on sale of nonfinancial assets 15 — 15 —
Gain (loss) on sale of property
1 unchanged sentence
Total non-operating income (expense), net $ (124) $ (166) $ (475) $ (451)
−Removed: Three Months Ended October 3, 2025 Compared with Three Months Ended September 27, 2024
−Removed: Non-operating income (expense), net, increased by $61 million, primarily due to a $69 million change in fair value and impairment of our non-marketable equity investments.
−Removed: Six Months Ended October 3, 2025 Compared with Six Months Ended September 27, 2024
−Removed: Non-operating income (expense), net, increased by $66 million, primarily due to a $69 million change in fair value and impairment of our non-marketable equity investments.
+Added: Three Months Ended January 2, 2026 Compared with Three Months Ended December 27, 2024
+Added: Non-operating income (expense), net, decreased by $42 million, primarily due to a $20 million decrease in impairment of our non-marketable equity investments and a $15 million gain on sale of nonfinancial assets in the third quarter of fiscal 2026.
+Added: Nine Months Ended January 2, 2026 Compared with Nine Months Ended December 27, 2024
+Added: Non-operating income (expense), net, increased by $24 million, primarily due to a $49 million increase in change in fair value and impairment of our non-marketable equity investments.
+Added: This is partially offset by a $15 million gain on sale of nonfinancial assets in the third quarter of fiscal 2026.
Provision for income taxes
−Removed: Three Months Ended Six Months Ended
−Removed: (In millions, except for percentages) October 3, 2025 September 27, 2024 October 3, 2025 September 27, 2024
+Added: Three Months Ended Nine Months Ended
+Added: (In millions, except for percentages) January 2, 2026 December 27, 2024 January 2, 2026 December 27, 2024
Income (loss) before income taxes $ 309 $ 208 $ 842 $ 742
1 unchanged sentence
Effective tax rate 38 % 24 % 45 % 32 %
−Removed: Our effective tax rate for the three and six months ended October 3, 2025 and three and six months ended September 27, 2024 differs from the federal statutory income tax rate primarily due to state taxes, changes in unrecognized tax benefits and related interest and penalties, foreign exchange impacts, increases in valuation allowances, and the U.S.
+Added: Our effective tax rate for the three and nine months ended January 2, 2026 and three and nine months ended December 27, 2024, differs from the federal statutory income tax rate primarily due to state taxes, changes in unrecognized tax benefits and related interest and penalties, foreign exchange impacts, increases in valuation allowances, and the U.S.
taxation on foreign earnings.
2 unchanged sentences
These provisions include an allowance to accelerate tax deductions of certain capital expenditures, research & experimentation expenditures, and an increase to the annual limitation of tax-deductible interest expenses.
−Removed: The impacts of the Act are included in our operating results for the three and six months ended October 3, 2025.
−Removed: The Act is not expected to have a material impact on our effective tax rate.
+Added: The impacts of the Act are included in our operating results for the three and nine months ended January 2, 2026.
+Added: The Act has not had, and is not expected to have, a material impact on our effective tax rate.
The Organization for Economic Cooperation and Development (OECD) and many countries have proposed to reallocate a portion of profits of large multinational enterprises (MNE) with an annual global turnover exceeding €20 billion to markets where sales arise (Pillar One), as well as enact a global minimum tax rate of at least 15% for MNE with an annual global turnover exceeding €750 million (Pillar Two).
13 unchanged sentences
We are currently not aware of any trends or demands, commitments, events or uncertainties that will result in or that are reasonably likely to result in our liquidity increasing or decreasing in any material way that will impact our capital needs during or beyond the next 12 months.
−Removed: However, our future liquidity and capital requirements may vary materially from those as of October 3, 2025, depending on several factors, including, but not limited to, economic conditions;
+Added: However, our future liquidity and capital requirements may vary materially from those as of January 2, 2026, depending on several factors, including, but not limited to, economic conditions;
political climate;
5 unchanged sentences
The following summarizes our cash flow activities:
−Removed: Six Months Ended
−Removed: (In millions) October 3, 2025 September 27, 2024
+Added: Nine Months Ended
+Added: (In millions) January 2, 2026 December 27, 2024
Net cash provided by (used in):
4 unchanged sentences
Cash from operating activities
−Removed: Net cash provided by operating activities of $525 million for the six months ended October 3, 2025 was primarily comprised of net income adjusted for the net effect of non-cash items.
−Removed: Changes in working capital sources and uses of cash include decreases in income taxes payable, Instacash Advances held for sale, contract liabilities, accounts payable and other liabilities.
+Added: Net cash provided by operating activities of $1,066 million for the nine months ended January 2, 2026 was primarily comprised of net income adjusted for the net effect of non-cash items.
+Added: Changes in working capital sources and uses of cash include decreases in Instacash Advances held for sale, income taxes payable, accounts receivable, net and accounts payable.
Cash from investing activities
−Removed: Net cash used in investing activities of $880 million for the six months ended October 3, 2025 was primarily related to the cash consideration paid for our acquisition of MoneyLion.
+Added: Net cash used in investing activities of $822 million for the nine months ended January 2, 2026 was primarily related to the cash consideration paid for our acquisition of MoneyLion.
Cash from financing activities
−Removed: Net cash provided by financing activities of $48 million for the six months ended October 3, 2025 was primarily due to proceeds from the issuance of our Incremental Term Loan B of $741 million, net of debt issuance cost.
−Removed: This was partially offset by mandatory and voluntary prepayments of our Term A and B Facilities, quarterly dividend payments, and repurchases of common stock under our repurchase program.
+Added: Net cash used in financing activities of $634 million for the nine months ended January 2, 2026 was primarily due to mandatory and voluntary prepayments of our Term A and B Facilities, repurchases of common stock under our repurchase program and quarterly dividend payments.
+Added: This was partially offset by proceeds from the issuance of our Incremental Term Loan B of $741 million, net of debt issuance cost.
Cash and cash equivalents
−Removed: As of October 3, 2025, we had cash and cash equivalents of $691 million, excluding restricted cash, of which $380 million was held by our foreign subsidiaries.
+Added: As of January 2, 2026, we had cash and cash equivalents of $616 million, excluding restricted cash, of which $403 million was held by our foreign subsidiaries.
Our cash, cash equivalents and short-term investments are managed with the objective to preserve principal, maintain liquidity and generate investment returns.
6 unchanged sentences
Stock repurchases
−Removed: During the six months ended October 3, 2025 and September 27, 2024, we executed repurchases of 5 million and 11 million of our common stock under our existing stock repurchase program for an aggregate amount of $134 million and $272 million, respectively.
−Removed: We did not have any stock repurchases during the three months ended October 3, 2025 and September 27, 2024.
+Added: During the nine months ended January 2, 2026 and December 27, 2024, we executed repurchases of 16 million and 11 million of our common stock under our existing stock repurchase program for an aggregate amount of $434 million and $272 million, respectively.
Material Cash Requirements
1 unchanged sentence
Debt instruments
−Removed: As of October 3, 2025, our total outstanding principal amount of indebtedness is summarized as follows.
+Added: As of January 2, 2026, our total outstanding principal amount of indebtedness is summarized as follows.
See Note 10 of the Notes to the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for further information on our debt.
−Removed: (In millions) October 3, 2025
+Added: (In millions) January 2, 2026
Term Loans $ 6,044
2 unchanged sentences
The Amended Credit Agreement contains customary representations and warranties and affirmative and negative covenants, including compliance with specified financial ratios.
−Removed: As of October 3, 2025, we were in compliance with all debt covenants.
+Added: As of January 2, 2026, we were in compliance with all debt covenants.
See Note 10 of the Notes to the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for further information regarding financial ratios and debt covenant compliance.
−Removed: On November 6, 2025, we announced a cash dividend of $0.125 per share of common stock to be paid in December 2025.
+Added: On February 5, 2026, we announced a cash dividend of $0.125 per share of common stock to be paid in March 2026.
Any future dividends and dividend equivalents will be subject to the approval of our Board of Directors.
1 unchanged sentence
Under our stock repurchase program, we may purchase shares of our outstanding common stock on the open market (including through trading plans intended to qualify under Rule 10b5-1 under the Exchange Act) and through accelerated stock repurchase transactions.
−Removed: As of October 3, 2025, the remaining balance of our stock repurchase authorization was $2,594 million and does not have an expiration date.
+Added: As of January 2, 2026, the remaining balance of our stock repurchase authorization was $2,294 million and does not have an expiration date.
The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions and other investment opportunities.
3 unchanged sentences
Our principal commitments consist of principal and interest payments related to our debt instruments, obligations under our purchase agreements, obligations under various non-cancellable leases and potential other legal contingencies.
−Removed: Due to the uncertainty with respect to the timing of future cash flows associated with our unrecognized tax benefits and other long-term taxes as of October 3, 2025, we are unable to make reasonably reliable estimates of the period of cash settlement with the respective taxing authorities.
+Added: Due to the uncertainty with respect to the timing of future cash flows associated with our unrecognized tax benefits and other long-term taxes as of January 2, 2026, we are unable to make reasonably reliable estimates of the period of cash settlement with the respective taxing authorities.
Therefore, $1,578 million in long-term income taxes payable has been excluded from our quarterly review of timing of contractual obligations.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.