INVESTMENTS AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 29, 2026

Gains (losses) recognized in other (expense) income, net on marketable equity securities were as follows:


In millions	Q1 2026		Q1 2025
Net (losses) gains recognized during the period	$	(45)	$	31
Less: Net gains recognized during the period on securities sold during the period	12		—
Net unrealized (losses) gains recognized during the period on securities still held at the reporting date	$	(57)	$	31

Our commitments to the Funds are as follows:


Dollars in millions	Capital commitments		Callable through date	Remaining callable as of March 29, 2026
Fund I	$	100	December 2027	$	3
Fund II	$	150	July 2029	$	25
Fund III	$	60	December 2034	$	21

The following table presents the hierarchy for assets and liabilities measured at fair value on a recurring basis:


	March 29, 2026								December 28, 2025
In millions	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds (cash equivalents)	$	811	$	—	$	—	$	811	$	1,173	$	—	$	—	$	1,173
Marketable equity securities	66		—		—		66		215		—		—		215
Other investments	—		—		38		38		—		—		32		32
Deferred compensation plan assets	—		77		—		77		—		79		—		79
Total assets measured at fair value	$	877	$	77	$	38	$	992	$	1,388	$	79	$	32	$	1,499
Liabilities:
Contingent consideration liabilities	$	—	$	—	$	119	$	119	$	—	$	—	$	54	$	54
Deferred compensation plan liabilities	—		67		—		67		—		72		—		72
Total liabilities measured at fair value	$	—	$	67	$	119	$	186	$	—	$	72	$	54	$	126

Changes in the estimated fair value of our contingent consideration liabilities during Q1 2026 were as follows:


In millions
Balance as of December 28, 2025	$	54
Acquisition of SomaLogic	81
Change in estimated fair value	(16)

Balance as of March 29, 2026	$	119

ILLUMINA, INC. 10-Q