(2)Reflects change to adjusted EBITDA definition discussed in more detail elsewhere in this release.
Unaudited Consolidated Statements of Operations
| Three Months Ended | Year Ended | |||||||||||||||
| (in millions USD, except for per share amounts) | December 31, 2022 | December 31, 2021 | December 31, 2022 | December 31, 2021 | ||||||||||||
| Net revenue | $ | 2,101 | $ | 1,847 | $ | 8,108 | $ | 6,585 | ||||||||
| Cost of revenue | 1,479 | 1,463 | 5,869 | 5,572 | ||||||||||||
| Gross profit | $ | 622 | $ | 384 | $ | 2,239 | $ | 1,013 | ||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 110 | 130 | 482 | 478 | ||||||||||||
| Sales, marketing, general and administrative | 130 | 167 | 496 | 595 | ||||||||||||
| Restructuring charges | 94 | — | 94 | — | ||||||||||||
| Total operating expenses | $ | 334 | $ | 297 | $ | 1,072 | $ | 1,073 | ||||||||
| Operating profit (loss) | $ | 288 | $ | 87 | $ | 1,167 | $ | (60 | ) | |||||||
| Finance expense, net | (2 | ) | (26 | ) | (60 | ) | (108 | ) | ||||||||
| Other income (expense) | (13 | ) | 8 | 22 | (8 | ) | ||||||||||
| Gain on sale of a business | 403 | 403 | ||||||||||||||
| Income tax expense | (8 | ) | (26 | ) | (86 | ) | (78 | ) | ||||||||
| Net income (loss) | $ | 668 | $ | 43 | $ | 1,446 | $ | (254 | ) | |||||||
| Attributable to: | ||||||||||||||||
| Shareholders of GlobalFoundries | 668 | 44 | 1,448 | (250 | ) | |||||||||||
| Non-controlling interest | — | (1 | ) | (2 | ) | (4 | ) | |||||||||
| Earnings (Loss) per share : | ||||||||||||||||
| Basic | $ | 1.22 | $ | 0.08 | $ | 2.69 | $ | (0.49 | ) | |||||||
| Diluted | $ | 1.21 | $ | 0.08 | $ | 2.62 | $ | (0.49 | ) | |||||||
| Shares used in earnings per share calculation: | ||||||||||||||||
| Basic | 546 | 522 | 539 | 506 | ||||||||||||
| Diluted | 554 | 540 | 552 | 506 | ||||||||||||
Unaudited Consolidated Statements of Financial Position
