Applied Materials Announces First Quarter 2019 Results

1 These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.

2 GAAP basis tax benefit related to share-based compensation is being recognized ratably over the fiscal year on a non-GAAP basis.

3 Charges to income tax provision related to a one-time transition tax and a decrease in U.S. deferred tax assets as a result of the recent U.S. tax legislation.

4 Adjustment to provision for income taxes related to non-GAAP adjustments reflected in income before income taxes.

APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS

 Three Months Ended
(In millions, except per share amounts)January 27, January 28,
20192018
Non-GAAP Adjusted Earnings Per Diluted Share   
Reported earnings per diluted share - GAAP basis$0.80  $0.15 
Certain items associated with acquisitions0.01  0.04 
Loss (gain) on strategic investments, net(0.01)  
Income tax effect of share-based compensation  (0.04)
Income tax effect of changes in applicable U.S. tax laws(0.02) 0.94 
Income tax effects related to amortization of intra-entity intangible asset transfers(0.03)  
Resolution of prior years’ income tax filings and other tax items0.06  (0.01)
Non-GAAP adjusted earnings per diluted share$0.81  $1.08 
Weighted average number of diluted shares965  1,071 
      

APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS

 Three Months Ended
(In millions, except percentages)January 27, January 28,
20192018
Semiconductor Systems Non-GAAP Adjusted Operating Income   
Reported operating income - GAAP basis$631  $1,024 
Certain items associated with acquisitions111  46 
Non-GAAP adjusted operating income$642  $1,070 
Non-GAAP adjusted operating margin28.3% 37.5%
AGS Non-GAAP Adjusted Operating Income   
Reported operating income - GAAP basis$285  $255 
Acquisition integration costs  1 
Non-GAAP adjusted operating income$285  $256 
Non-GAAP adjusted operating margin29.6% 29.1%
Display and Adjacent Markets Non-GAAP Adjusted Operating Income   
Reported operating income - GAAP basis$115  $90 
Certain items associated with acquisitions13  3 
Non-GAAP adjusted operating income$118  $93 
Non-GAAP adjusted operating margin23.3%  21.0 %
           

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