INTC · 10-Q · 2026Q3 · Full report

Ireland SCIP Ownership Repurchase

INTEL CORP · 2026-10-30 · Importance 65 · Surprise 60 · In source text

On April 8, 2026, Intel reacquired Apollo’s minority ownership interest in Ireland SCIP for aggregate cash consideration of $14.2 billion, inclusive of transaction costs. Intel then owned 100% of Ireland SCIP, and the related operating and ancillary agreements with Apollo were substantially terminated. The transaction eliminated the $13.5 billion non-controlling interest balance and the related delay-liquidated-damages derivative liability; Intel recorded the residual $13.5 billion consideration as a reduction to capital in excess of par value. The cash payment was reported within partner distributions for the first nine months of 2026.

Key facts

• On April 8, 2026, Intel reacquired Apollo's minority ownership interest in Ireland SCIP for $14.2 billion in aggregate cash consideration, inclusive of transaction costs. source
• In Q2 2026, Intel acquired the minority ownership interest in its previously majority-owned and consolidated Ireland SCIP VIE for $14.2 billion in aggregate cash consideration, inclusive of transaction costs. source
• Intel eliminated the Ireland SCIP non-controlling interest balance, extinguished the related delay-related liquidated damages derivative liability, and recorded $13.5 billion as a reduction to capital in excess of par value in the second quarter of 2026. source
• In Q2 2026, Intel acquired all outstanding minority-holder ownership interests in Ireland SCIP, after which Ireland SCIP non-controlling-interest income ceased. source
• Intel drew on a $6.5 billion 364-day senior unsecured term loan facility at 4.79% in Q2 2026 in connection with the Ireland SCIP ownership repurchase, then repaid it in full during the same quarter. source
• As of September 26, 2026, Intel owned 100% of Ireland SCIP and the related operating and ancillary agreements with Apollo had been substantially terminated. source
• Intel's YTD 2026 interest and other, net included a $223 million benefit from the change in fair value of liquidated damages provisions related to its Ireland SCIP arrangement. source
• Intel funded the repurchase of Apollo's non-controlling equity interest with existing cash and cash equivalents, short-term investments, and a $6.5 billion term loan. source

Impact estimates