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) |
Jun 29, 2024 |
Jul 1, 2023 |
||||||
|
GAAP gross margin |
$ |
4,547 |
|
$ |
4,638 |
|
||
|
Acquisition-related adjustments |
|
224 |
|
|
306 |
|
||
|
Share-based compensation |
|
195 |
|
|
210 |
|
||
|
Non-GAAP gross margin |
$ |
4,966 |
|
$ |
5,154 |
|
||
|
GAAP gross margin percentage |
|
35.4 |
% |
|
35.8 |
% |
||
|
Acquisition-related adjustments |
|
1.7 |
% |
|
2.4 |
% |
||
|
Share-based compensation |
|
1.5 |
% |
|
1.6 |
% |
||
|
Non-GAAP gross margin percentage |
|
38.7 |
% |
|
39.8 |
% |
||
|
GAAP R&D and MG&A |
$ |
5,568 |
|
$ |
5,454 |
|
||
|
Acquisition-related adjustments |
|
(41 |
) |
|
(44 |
) |
||
|
Share-based compensation |
|
(585 |
) |
|
(712 |
) |
||
|
Non-GAAP R&D and MG&A |
$ |
4,942 |
|
$ |
4,698 |
|
||
|
GAAP operating income (loss) |
$ |
(1,964 |
) |
$ |
(1,016 |
) |
||
|
Acquisition-related adjustments |
|
265 |
|
|
350 |
|
||
|
Share-based compensation |
|
780 |
|
|
922 |
|
||
|
Restructuring and other charges |
|
943 |
|
|
200 |
|
||
|
Non-GAAP operating income |
$ |
24 |
|
$ |
456 |
|
||
|
GAAP operating margin (loss) |
|
(15.3 |
)% |
|
(7.8 |
)% |
||
|
Acquisition-related adjustments |
|
2.1 |
% |
|
2.7 |
% |
||
|
Share-based compensation |
|
6.1 |
% |
|
7.1 |
% |
||
|
Restructuring and other charges |
|
7.3 |
% |
|
1.5 |
% |
||
|
Non-GAAP operating margin |
|
0.2 |
% |
|
3.5 |
% |
||
|
GAAP tax rate |
|
17.5 |
% |
|
280.5 |
% |
||
|
Income tax effects |
|
(4.5 |
)% |
|
(267.5 |
)% |
||
|
Non-GAAP tax rate |
|
13.0 |
% |
|
13.0 |
% |
||
|
GAAP net income (loss) attributable to Intel |
$ |
(1,610 |
) |
$ |
1,481 |
|
||
|
Acquisition-related adjustments |
|
265 |
|
|
350 |
|
||
|
Share-based compensation |
|
780 |
|
|
922 |
|
||
|
Restructuring and other charges |
|
943 |
|
|
200 |
|
||
|
(Gains) losses on equity investments, net |
|
120 |
|
|
24 |
|
||
|
(Gains) losses from divestiture |
|
(39 |
) |
|
(39 |
) |
||
|
Adjustments attributable to non-controlling interest |
|
(18 |
) |
|
(18 |
) |
||
|
Income tax effects |
|
(358 |
) |
|
(2,373 |
) |
||
|
Non-GAAP net income attributable to Intel |
$ |
83 |
|
$ |
547 |
|
||
|
|
|
|
||||||
|
(In Millions, Except Per Share Amounts) |
Jun 29, 2024 |
|
Jul 1, 2023 |
|||||
|
GAAP earnings (loss) per share attributable to Intel—diluted |
$ |
(0.38 |
) |
$ |
0.35 |
|
||
|
Acquisition-related adjustments |
|
0.06 |
|
|
0.08 |
|
||
|
Share-based compensation |
|
0.18 |
|
|
0.22 |
|
||
|
Restructuring and other charges |
|
0.22 |
|
|
0.05 |
|
||
|
(Gains) losses on equity investments, net |
|
0.03 |
|
|
0.01 |
|
||
|
(Gains) losses from divestiture |
|
(0.01 |
) |
|
(0.01 |
) |
||
|
Adjustments attributable to non-controlling interest |
|
— |
|
|
— |
|
||
|
Income tax effects |
|
(0.08 |
) |
|
(0.57 |
) |
||
|
Non-GAAP earnings per share attributable to Intel—diluted |
$ |
0.02 |
|
$ |
0.13 |
|
||
|
|
|
|
||||||
|
GAAP net cash provided by (used for) operating activities |
$ |
2,292 |
|
$ |
2,808 |
|
||
|
Net partner contributions and incentives received (cash expended) for property plant and equipment |
|
5,863 |
|
|
(5,454 |
) |
||
|
Payments on finance leases |
|
— |
|
|
(81 |
) |
||
|
Adjusted free cash flow |
$ |
8,155 |
|
$ |
(2,727 |
) |
||
|
GAAP net cash provided by (used for) investing activities |
$ |
(9,165 |
) |
$ |
(2,808 |
) |
||
|
GAAP net cash provided by (used for) financing activities |
$ |
11,237 |
|
$ |
117 |
|
||
Intel Corporation
