INTC · 10-K · 2025A · Full report
Non-Controlling Interests and SCIP Ramp
INTEL CORP · 2026-01-23 · Importance 72 · Surprise 100
Net income attributable to non-controlling interests was $293 million in 2025, reversing net losses of $477 million in 2024 and $14 million in 2023, driven by the placement of the first tranche of Arizona SCIP manufacturing assets into service and factory output ramp from Fab 34 resold from Ireland SCIP. Intel expects net income attributable to non-controlling interests to continue increasing in 2026 as additional tranches of Arizona SCIP assets are placed into service and to increase significantly in 2027 following expected completion of Fab 34 construction in Ireland. The ramp of SCIP partner-funded assets materially influences consolidated results and the timing of manufacturing capacity additions.
Key facts
- Intel's SCIP arrangements include variable distribution payments expected to be made to co-investment partners and liquidated damage provisions that trigger if certain construction milestones or operational metrics are not met.
- Intel expects net income attributable to non-controlling interests to increase significantly in 2027 following expected completion of construction of Fab 34 in Ireland.
- As of December 27, 2025 Intel continued to consolidate Mobileye and held an 80% ownership interest in Mobileye.
- As of December 27, 2025 Intel continued to consolidate IMS and held a 68% ownership interest in IMS.
- Intel anticipates net income attributable to non-controlling interests will continue to increase in 2026 as additional tranches of Arizona SCIP's manufacturing assets are placed into service.
- Net loss attributable to non-controlling interests was $477 million in 2024 and $14 million in 2023.
- Net income attributable to non-controlling interests in 2025 was primarily driven by placement of the first tranche of Arizona SCIP's manufacturing assets into service during 2025 and the ramp of factory output from Fab 34 resold to Intel from Ireland SCIP.
- Net income attributable to non-controlling interests was $293 million in 2025.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | probable | — | Intel's SCIP arrangements include variable distribution payments expected to be made to co-investment partners and liquidated damage… |
| liability | negative | contingent | — | Intel's SCIP arrangements include variable distribution payments expected to be made to co-investment partners and liquidated damage… |
| net_income | negative | probable | — | Intel expects net income attributable to non-controlling interests to increase significantly in 2027 following expected completion of… |
| assets | positive | realized | — | As of December 27, 2025 Intel continued to consolidate IMS and held a 68% ownership interest in IMS. |
| net_income | negative | probable | — | Intel anticipates net income attributable to non-controlling interests will continue to increase in 2026 as additional tranches of Arizona… |