Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations from US GAAP to Non-GAAP actuals 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 US 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.
|
|
Three Months Ended |
||||||
(In Millions, Except Per Share Amounts) |
|
Sep 28, 2024 |
|
Sep 30, 2023 |
||||
GAAP gross margin |
|
$ |
1,997 |
|
|
$ |
6,018 |
|
Acquisition-related adjustments |
|
|
224 |
|
|
|
301 |
|
Share-based compensation |
|
|
172 |
|
|
|
164 |
|
Non-GAAP gross margin |
|
$ |
2,393 |
|
|
$ |
6,483 |
|
GAAP gross margin percentage |
|
|
15.0 |
% |
|
|
42.5 |
% |
Acquisition-related adjustments |
|
|
1.7 |
% |
|
|
2.1 |
% |
Share-based compensation |
|
|
1.3 |
% |
|
|
1.2 |
% |
Non-GAAP gross margin percentage |
|
|
18.0 |
% |
|
|
45.8 |
% |
| GAAP R&D and MG&A |
|
$ |
5,432 |
|
|
$ |
5,210 |
|
| Acquisition-related adjustments |
|
|
(42 |
) |
|
|
(43 |
) |
| Share-based compensation |
|
|
(628 |
) |
|
|
(608 |
) |
| Non-GAAP R&D and MG&A |
|
$ |
4,762 |
|
|
$ |
4,559 |
|
| GAAP operating income (loss) |
|
$ |
(9,057 |
) |
|
$ |
(8 |
) |
| Acquisition-related adjustments |
|
|
266 |
|
|
|
344 |
|
| Share-based compensation |
|
|
800 |
|
|
|
772 |
|
| Restructuring and other charges |
|
|
5,622 |
|
|
|
816 |
|
| Non-GAAP operating income (loss) |
|
$ |
(2,369 |
) |
|
$ |
1,924 |
|
| GAAP operating margin |
|
|
(68.2 |
)% |
|
|
(0.1 |
)% |
| Acquisition-related adjustments |
|
|
2.0 |
% |
|
|
2.4 |
% |
| Share-based compensation |
|
|
6.0 |
% |
|
|
5.5 |
% |
| Restructuring and other charges |
|
|
42.3 |
% |
|
|
5.8 |
% |
| Non-GAAP operating margin |
|
|
(17.8 |
)% |
|
|
13.6 |
% |
| GAAP tax rate |
|
|
(87.0 |
)% |
|
|
696.2 |
% |
| Deferred tax assets valuation allowance |
|
|
121.0 |
% |
|
|
— |
% |
| Income tax effects |
|
|
(21.0 |
)% |
|
|
(683.2 |
)% |
| Non-GAAP tax rate |
|
|
13.0 |
% |
|
|
13.0 |
% |
| GAAP net income (loss) attributable to Intel |
|
$ |
(16,639 |
) |
|
$ |
297 |
|
| Acquisition-related adjustments |
|
|
266 |
|
|
|
344 |
|
| Share-based compensation |
|
|
800 |
|
|
|
772 |
|
| Restructuring and other charges |
|
|
5,622 |
|
|
|
816 |
|
| (Gains) losses on equity investments, net |
|
|
159 |
|
|
|
191 |
|
| (Gains) losses from divestiture |
|
|
(39 |
) |
|
|
(36 |
) |
| Adjustments attributable to non-controlling interest |
|
|
(344 |
) |
|
|
(18 |
) |
| Deferred tax assets valuation allowances |
|
|
9,925 |
|
|
|
— |
|
| Income tax effects |
|
|
(1,726 |
) |
|
|
(627 |
) |
| Non-GAAP net income (loss) attributable to Intel |
|
$ |
(1,976 |
) |
|
$ |
1,739 |
|
|
|
|
|
|
|
||||
| (In Millions, Except Per Share Amounts) |
|
Sep 28, 2024 |
|
Sep 30, 2023 |
||||
| GAAP earnings (loss) per share attributable to Intel—diluted |
|
$ |
(3.88 |
) |
|
$ |
0.07 |
|
| Acquisition-related adjustments |
|
|
0.06 |
|
|
|
0.08 |
|
| Share-based compensation |
|
|
0.19 |
|
|
|
0.18 |
|
| Restructuring and other charges |
|
|
1.31 |
|
|
|
0.19 |
|
| (Gains) losses on equity investments, net |
|
|
0.04 |
|
|
|
0.05 |
|
| (Gains) losses from divestiture |
|
|
(0.01 |
) |
|
|
(0.01 |
) |
| Adjustments attributable to non-controlling interest |
|
|
(0.08 |
) |
|
|
— |
|
| Deferred tax assets valuation allowance |
|
|
2.31 |
|
|
|
— |
|
| Income tax effects |
|
|
(0.40 |
) |
|
|
(0.15 |
) |
| Non-GAAP earnings (loss) per share attributable to Intel—diluted |
|
$ |
(0.46 |
) |
|
$ |
0.41 |
|
|
|
|
|
|
|
||||
| GAAP net cash provided by (used for) operating activities |
|
$ |
4,054 |
|
|
$ |
5,824 |
|
| Net purchase of property, plant, and equipment |
|
|
(6,756 |
) |
|
|
(4,881 |
) |
| Payments on finance leases |
|
|
— |
|
|
|
— |
|
| Adjusted free cash flow |
|
$ |
(2,702 |
) |
|
$ |
943 |
|
| GAAP net cash provided by (used for) investing activities |
|
$ |
(2,764 |
) |
|
$ |
(7,394 |
) |
| GAAP net cash provided by (used for) financing activities |
|
$ |
(3,792 |
) |
|
$ |
842 |
|
Intel Corporation
