(2) Beginning in Q3 2023, selling, general and administrative includes (gain)/loss on tool sales and certain contract cancellation fees. Prior period amounts have not been adjusted, as they are immaterial.
(3) Relates to restructuring charges.
| Non-IFRS Free Cash Flow (1) | ||||||||||||
| Three Months Ended | ||||||||||||
| (in millions USD) | March 31, 2024 | December 31, 2023 | March 31, 2023 | |||||||||
| Net cash provided by operating activities | $ | 488 | $ | 684 | $ | 479 | ||||||
| Less: Purchase of property, plant and equipment and intangible assets | $ | (227 | ) | $ | (228 | ) | $ | (853 | ) | |||
| Non-IFRS free cash flow (2) | $ | 261 | $ | 456 | $ | (374 | ) | |||||
(1) Non-IFRS free cash flow is a Non-IFRS measure. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful.
(2) Beginning Q1 2024 Non-IFRS free cash flow includes proceeds from government grants related to capital expenditures. This change in methodology is in anticipation of future expected proceeds from government grants related to capital expenditures from the planned funding awarded under the U.S. CHIPS and Science Act and the New York State Green CHIPS, and better aligns our Non-IFRS free cash flow metric to how GF assesses capital decisions internally. As such, prior periods have not been adjusted to reflect this new calculation methodology. Proceeds from government grants were $0, $137 million and $0 for the three months periods ending March 31, 2024, December 31, 2023 and March 31, 2023, respectively.
