GlobalFoundries Reports Second 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.

Unaudited Non-IFRS Adjusted Free Cash Flow (1)
 
  Three Months Ended
(in millions USD) June 30, 2024  March 31, 2024  June 30, 2023
      
Net cash provided by operating activities $ 402   $ 488   $ 546 
Less: Purchase of property, plant and equipment and intangible assets (101)  (227)  (400)
Add: Proceeds from government grants 1       
Non-IFRS Adjusted free cash flow (2) $ 302   $ 261   $ 146  

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