|
Three Months Ended |
||
|
(In Millions) |
Oct 1, 2022 |
|
|
GAAP cash from operations |
$ 1,030 |
|
|
Net additions to property, plant and equipment1 |
(7,296) |
|
|
Payments on finance leases |
(42) |
|
|
Adjusted free cash flow |
$ (6,308) |
|
|
GAAP cash provided by investing activities |
$ (4,574) |
|
|
GAAP cash used for financing activities |
$ 3,683 |
1 The calculation of adjusted free cash flow includes additions to property, plant and equipment net of proceeds from capital grants.
Intel Corporation
Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook
Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable U.S. GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP, and the financial outlook prepared in accordance with U.S. GAAP and the reconciliations from this Business Outlook should be carefully evaluated.
Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable U.S. GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors.
|
Q4 2022 Outlook |
Full-Year 2022 |
|||
|
Approximately |
Approximately |
|||
|
GAAP gross margin |
41.4 % |
43.1 % |
||
|
Acquisition-related adjustments |
2.3 % |
2.1 % |
||
|
Share-based compensation |
1.3 % |
1.1 % |
||
|
Patent settlement |
— % |
0.3 % |
||
|
Optane inventory impairment |
— % |
0.9 % |
||
|
Non-GAAP gross margin |
45.0 % |
47.5 % |
||
|
GAAP tax rate |
40 % |
(5) % |
||
|
Tax reform |
(7) % |
9 % |
||
|
Income tax effects |
(19) % |
(2) % |
||
|
Non-GAAP tax rate |
14 % |
2 % |
||
|
GAAP earnings (loss) per share—diluted |
$ (0.10) |
$ 2.00 |
||
|
Acquisition-related adjustments |
0.10 |
0.37 |
||
|
Restructuring and other charges |
0.12 |
0.01 |
||
|
Share-based compensation |
0.20 |
0.78 |
||
|
Patent settlement |
— |
0.05 |
||
|
Optane inventory impairment |
— |
0.14 |
||
|
(Gains) losses from divestiture |
(0.01) |
(0.29) |
||
|
(Gains) losses on equity investments, net |
(0.01) |
(0.99) |
||
|
Tax Reform |
(0.03) |
(0.17) |
||
|
Income tax effects |
(0.07) |
0.05 |
||
|
Non-GAAP earnings per share—diluted |
$ 0.20 |
$ 1.95 |
