“We expect the principal cash cost associated with the restructuring charges to land in Q4 2024.”

In context

“e GAAP based losses over the last three years. Second, a $2.6 billion goodwill impairment related to Mobileye, which shows up in our consolidated earnings. And lastly is $2.2 billion associated with the severance of approximately 15% of our employees, aligned with our plan to reduce operating expenses to $17.5 billion and take out $1 billion of other cost of sales next year. This last charge is the only charge with a cash impact. The tax asset impairment charge will not affect cash taxes going forward and full details are in the 10-Q, which will be available tomorrow. Q3 operating cash flow was $4.1 billion up approximately $1.8 billion sequentially on better working capital. We had growth CapEx of $6.5 billion in the quarter, resulting in adjusted free cash flow of negative $2.7 billion. We expect the principal cash cost associated with the restructuring charges to land in Q4 2024. We have $24.1 billion of cash and short-term investments, paid down $2.8 billion of debt in the quarter and remain focused on delevering next year as cash from operations continues to improve. Moving to segment results, Intel Products revenue was $12.2 billion up 3% sequentially. CCG revenue was down 1% quarter-over-quarter as customers worked down their inventory as expected. DCAI revenue was up 10% sequentially, as demand for traditional servers improved. Revenue for NEX was up double-digit sequentially, as elements of this business start to recover off a cyclical bottom. Q3 operating profit for Intel Products was $3.3 billion, 27% of revenue and up $400 million quarter-over-quarter on higher revenue and reduced operating expenses. Operating income was negatively impacted by a $300 mill”