During the fourth fiscal quarter, the Company generated $5,604 million in cash from operations and spent $122 million on capital expenditures. The Company paid $1,204 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 7.4 million shares).
On September 30, 2024, the Company paid a cash dividend on a split adjusted basis of $0.53 per share, totaling $2,484 million.
The differences between the Company's GAAP and non-GAAP results are described generally under "Non-GAAP Financial Measures" below and presented in detail in the financial reconciliation tables attached to this release.
Fiscal Year 2024 Financial Highlights
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| GAAP |
| Non-GAAP | ||||||||||||||
(Dollars in millions, except per share data) |
| FY 24 |
| FY 23 |
| Change |
| FY 24 |
| FY 23 |
| Change | ||||||
Net revenue |
| $ | 51,574 |
| $ | 35,819 |
| +44 | % | $ | 51,574 |
| $ | 35,819 |
| +44 | % | |
Net income |
| $ | 5,895 |
| $ | 14,082 |
| -$ 8,187 |
|
| $ | 23,733 |
| $ | 18,378 |
| +$ 5,355 |
|
Earnings per common share - diluted * |
| $ | 1.23 |
| $ | 3.30 |
| -$ 2.07 |
|
| $ | 4.87 |
| $ | 4.22 |
| +$ 0.65 |
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(Dollars in millions) |
| FY 24 |
| FY 23 |
| Change | ||
Cash flow from operations | $ | 19,962 |
| $ | 18,085 |
| +$ 1,877 | |
Adjusted EBITDA |
| $ | 31,897 |
| $ | 23,213 |
| +$ 8,684 |
| Free cash flow |
| $ | 19,414 |
| $ | 17,633 |
| +$ 1,781 |
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| Net revenue by segment |
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| (Dollars in millions) |
| FY 24 |
| FY 23 |
| Change | |||||||||
| Semiconductor solutions |
| $ | 30,096 |
| 58 | % | $ | 28,182 |
| 79 | % | +7 | % | ||
| Infrastructure software |
|
| 21,478 |
| 42 |
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| 7,637 |
| 21 |
|
| +181 | % |
| Total net revenue |
| $ | 51,574 |
| 100 | % |
| $ | 35,819 |
| 100 | % |
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| * On July 12, 2024, the Company completed a ten-for-one forward stock split. All per share amounts presented reflect the stock split. | |||||||||||||||
