• Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. For example, in the first quarter of 2021, Intel accrued a $2.2 billion charge related to litigation involving VLSI Technology LLC (VLSI). An unfavorable ruling can include monetary damages or an injunction prohibiting us from manufacturing or selling one or more products, precluding particular business practices, impacting our ability to design products, or requiring other remedies such as compulsory licensing of intellectual property.
• Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions. In addition, these transactions do not always achieve our financial or strategic objectives and can disrupt our ongoing business and adversely impact our results of operations. The proposed Mobileye IPO may not be completed in our expected timeframe, or at all, due to factors that include adverse changes in economic or market conditions or in our business; delays in regulatory, stock exchange, or other approvals; loss of Mobileye key employees, and changes in our business strategy.
• The amount, timing, and execution of Intel's stock repurchase program fluctuate based on Intel's priorities for the use of cash for other purposes—such as investing in our business, including operational and capital spending, acquisitions, and returning cash to our stockholders as dividend payments.
Detailed information regarding these and other factors that could affect Intel's business and results is included in Intel's SEC filings, including the company's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports. Copies of these filings may be obtained by visiting our Investor Relations website at www.intc.com or the SEC's website at www.sec.gov.
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.
© Intel Corporation. Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.
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Contacts: |
Tim Blankenship |
Penny Bruce |
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Investor Relations |
Media Relations |
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480-554-9007 |
408-893-0601 |
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timothy.blankenship@intel.com |
penelope.bruce@intel.com |
Intel Corporation
Consolidated Condensed Statements of Income and Other Information
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Three Months Ended |
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Twelve Months Ended |
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(In Millions, Except Per Share Amounts; unaudited) |
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Dec 25, 2021 |
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Dec 26, 2020 |
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Dec 25, 2021 |
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Dec 26, 2020 |
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Net revenue |
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$ 20,528 |
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$ 19,978 |
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$ 79,024 |
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$ 77,867 |
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Cost of sales |
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9,519 |
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8,630 |
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35,209 |
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34,255 |
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Gross margin |
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11,009 |
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11,348 |
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43,815 |
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43,612 |
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Research and development |
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4,049 |
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3,655 |
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15,190 |
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13,556 |
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Marketing, general and administrative |
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1,942 |
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1,757 |
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6,543 |
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6,180 |
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Restructuring and other charges |
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29 |
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52 |
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2,626 |
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198 |
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Operating expenses |
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6,020 |
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5,464 |
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24,359 |
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19,934 |
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Operating income |
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4,989 |
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5,884 |
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19,456 |
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23,678 |
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Gains (losses) on equity investments, net |
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359 |
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1,692 |
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2,729 |
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1,904 |
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Interest and other, net |
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(154) |
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(88) |
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(482) |
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(504) |
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Income before taxes |
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5,194 |
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7,488 |
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21,703 |
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25,078 |
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Provision for taxes |
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571 |
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1,631 |
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1,835 |
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4,179 |
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Net income |
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$ 4,623 |
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$ 5,857 |
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$ 19,868 |
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$ 20,899 |
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Earnings per share—basic |
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$ 1.14 |
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$ 1.43 |
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$ 4.89 |
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$ 4.98 |
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Earnings per share—diluted |
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$ 1.13 |
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$ 1.42 |
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$ 4.86 |
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$ 4.94 |
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Weighted average shares of common stock outstanding: |
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Basic |
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4,069 |
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4,094 |
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4,059 |
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4,199 |
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Diluted |
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4,095 |
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4,119 |
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4,090 |
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4,232 |
