AMD Reports Third Quarter 2019 Financial Results

ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions)

	September 28, 2019 ⁽¹⁾			December 29, 2018⁽²⁾
Assets
Current assets:
Cash and cash equivalents	$	1,156		$	1,078
Marketable securities	53			78
Accounts receivable, net	1,393			1,235
Inventories, net	1,040			845
Prepayment and receivables - related parties	17			34
Prepaid expenses and other current assets	253			270
Total current assets	3,912			3,540
Property and equipment, net	453			348
Operating lease right-of use assets	205			—
Goodwill	289			289
Investment: equity method	59			58
Other assets	335			321
Total Assets	$	5,253		$	4,556

Liabilities and Stockholders' Equity
Current liabilities:
Short-term debt, net	$	—		$	136
Accounts payable	763			834
Payables to related parties	215			207
Accrued liabilities	837			783
Other current liabilities	49			24
Total current liabilities	1,864			1,984
Long-term debt, net	872			1,114
Long-term operating lease liabilities	201			—
Other long-term liabilities	140			192

Stockholders' equity:
Capital stock:
Common stock, par value	11			10
Additional paid-in capital	9,490			8,750
Treasury stock, at cost	(53		)	(50		)
Accumulated deficit	(7,265		)	(7,436		)
Accumulated other comprehensive loss	(7		)	(8		)
Total Stockholders' equity	$	2,176		$	1,266
Total Liabilities and Stockholders' Equity	$	5,253		$	4,556

⁽¹⁾ During the first quarter of 2019, the Company adopted the new lease accounting standard, ASC 842, Leases, which resulted in an increase to assets and liabilities for leases primarily related to office buildings. The adoption of this standard had no impact to the Company's results of operations or statement of cash flows.
⁽²⁾ During the second quarter of 2019, GLOBALFOUNDRIES Inc. (GF) ceased being a related party of the Company. All prior period GF related party balances have been reclassified to conform to the current period presentation.

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