Non-GAAP reconciling items related to revenues consisted primarily of nonreportable segment revenues less intersegment eliminations. Non-GAAP reconciling items related to EBT consisted primarily of certain R&D expenses, SG&A expenses, other expenses or income, interest expense and certain investment income that are not allocated to segments for management reporting purposes; nonreportable segment results; and the elimination of intersegment profit.
Sums may not equal totals due to rounding.
|
Q1 Fiscal 2021 Supplemental Information and Reconciliations |
|||||
|
($ in millions) |
GAAP Results |
Less QSI |
Less Share- Based Compensation |
Less Other Items1, 2 |
Non-GAAP Results |
|
Cost of revenues |
$3,489 |
$— |
$11 |
$62 |
$3,416 |
|
Research and development expenses |
1,653 |
— |
283 |
18 |
1,352 |
|
Selling, general and administrative expenses |
567 |
3 |
99 |
38 |
427 |
|
Interest expense |
141 |
— |
— |
9 |
132 |
|
Investment and other income, net |
219 |
152 |
— |
54 |
13 |
|
Income tax expense (benefit) |
149 |
8 |
(162) |
(99) |
402 |
-
Other items excluded from Non-GAAP results included $64 million of acquisition-related charges, $9 million of interest expense related to the 2018 and 2019 European Commission fines and $3 million of charges related to restructuring-related activities, partially offset by a $3 million gain related to a favorable legal settlement. Other items excluded from Non-GAAP results also included $54 million of losses driven by the revaluation of our deferred compensation plan liabilities, which increased operating expenses, offset by corresponding $54 million of gains driven by the revaluation of the associated plan assets, which were included within investment and other income, net.
