GlobalFoundries Reports Third Quarter 2024 Financial Results

(1) Non-IFRS gross profit, Non-IFRS selling, general and administrative, Non-IFRS research and development, Non-IFRS operating profit, Non-IFRS operating expense (calculated by subtracting Non-IFRS operating profit from Non-IFRS gross profit), Non-IFRS net income, Non-IFRS diluted EPS and any related margins are all Non-IFRS measures. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful.

(2) Beginning in Q3 2023, selling, general and administrative includes (gain)/loss on tool sales and certain contract cancellation fees. Prior period amounts have not been adjusted, as they are immaterial.

(3) Relates to restructuring charges.

 
Reconciliation of IFRS to Non-IFRS

Non-IFRS Adjusted Free Cash Flow (1)
(Unaudited, in millions )
     
   Three Months Ended  Nine Months Ended
   September 30, 2024  June 30, 2024  September 30, 2023  September 30, 2024  September 30, 2023
           
Net cash provided by operating activities  $ 375   $ 402   $ 416   $ 1,265   $ 1,441 
Less: Purchase of property, plant and equipment and intangible assets  (162)  (101)  (323)  (490)  (1,576)
Add: Proceeds from government grants  3   1          4        
Non-IFRS adjusted free cash flow (2)   $ 216     $ 302     $ 93     $ 779     $ (135 )

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