{"id":64477,"date":"2022-01-27T09:40:03","date_gmt":"2022-01-27T08:40:03","guid":{"rendered":"https:\/\/www.planet3dnow.de\/cms\/?p=64477"},"modified":"2022-01-27T09:40:03","modified_gmt":"2022-01-27T08:40:03","slug":"intel-reports-fourth-quarter-and-full-year-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.planet3dnow.de\/cms\/64477-intel-reports-fourth-quarter-and-full-year-2021-financial-results\/","title":{"rendered":"Intel Reports Fourth-Quarter and Full-Year 2021 Financial Results"},"content":{"rendered":"

Deli\u00advers Record Quar\u00adter\u00adly and Full-Year Revenue<\/p>\n

News Sum\u00adma\u00adry<\/u><\/p>\n

\u25aa       Fourth-quar\u00adter GAAP<\/span> reve\u00adnue was $20.5 bil\u00adli\u00adon, excee\u00adding Octo\u00adber gui\u00addance by $1.3 bil\u00adli\u00adon and up 3 per\u00adcent year-over-year (YoY). Fourth-quar\u00adter non-GAAP reve\u00adnue was $19.5 bil\u00adli\u00adon, excee\u00adding Octo\u00adber gui\u00addance by $1.2 bil\u00adli\u00adon. Full-year GAAP<\/span> reve\u00adnue set an all-time Intel record of $79.0 bil\u00adli\u00adon, up 1 per\u00adcent YoY.<\/p>\n

\u25aa       Deli\u00adver\u00aded GAAP<\/span> fourth-quar\u00adter ear\u00adnings per share (EPS<\/span>) of $1.13, excee\u00adding Octo\u00adber gui\u00addance by 35 cents. Fourth-quar\u00adter non-GAAP EPS<\/span> was $1.09, excee\u00adding Octo\u00adber gui\u00addance by 19 cents.<\/p>\n

\u25aa       In 2021, Intel gene\u00adra\u00adted $30.0 bil\u00adli\u00adon of cash from ope\u00adra\u00adti\u00adons and $11.3 bil\u00adli\u00adon of free cash flow (FCF<\/span>).<\/p>\n

\u25aa       Fore\u00adcas\u00adting first-quar\u00adter 2022 reve\u00adnue of appro\u00adxi\u00adm\u00adate\u00adly $18.3 bil\u00adli\u00adon; expec\u00adting first-quar\u00adter EPS<\/span> of $0.70 (non-GAAP EPS<\/span> of $0.80).<\/p>\n

\u25aa       Announ\u00adces five per\u00adcent increase to quar\u00adter\u00adly cash dividend.<\/p>\n

SANTA<\/span> CLARA<\/span>, Calif., Janu\u00adary 26, 2022 \u2014 Intel Cor\u00adpo\u00adra\u00adti\u00adon today repor\u00adted fourth-quar\u00adter and full-year 2021 finan\u00adcial results. The com\u00adpa\u00adny also announ\u00adced that its board of direc\u00adtors appro\u00adved a cash divi\u00addend increase of five per\u00adcent to $1.46 per share on an annu\u00adal basis. The board declared a quar\u00adter\u00adly divi\u00addend of $0.365 per share on the company\u2019s com\u00admon stock, which will be paya\u00adble on March 1 to share\u00adhol\u00adders of record as of Febru\u00adary 7.<\/p>\n

\u201c<\/span>Q4<\/span> repre\u00adsen\u00adted a gre\u00adat finish to a gre\u00adat year. We excee\u00added top-line quar\u00adter\u00adly gui\u00addance by over $1 bil\u00adli\u00adon and deli\u00adver\u00aded the best quar\u00adter\u00adly and full-year reve\u00adnue in the company\u2019s histo\u00adry,\u201d said Pat Gel\u00adsin\u00adger, Intel CEO<\/span>. \u201cOur disci\u00adpli\u00adned focus on exe\u00adcu\u00adti\u00adon across tech\u00adno\u00adlo\u00adgy deve\u00adlo\u00adp\u00adment, manu\u00adfac\u00adtu\u00adring, and our tra\u00addi\u00adtio\u00adnal and emer\u00adging busi\u00adnesses is reflec\u00adted in our results. We remain com\u00admit\u00adted to dri\u00adving long-term, sus\u00adtainable growth as we relent\u00adless\u00adly exe\u00adcu\u00adte our IDM<\/span> 2.0 strategy.\u201d<\/p>\n

Q4<\/span> 2021 Finan\u00adcial Highlights<\/u><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\nGAAP<\/span><\/strong><\/td>\n <\/td>\nNon-GAAP<\/strong><\/td>\n<\/tr>\n
 <\/td>\nQ4<\/span> 2021<\/strong><\/td>\nQ4<\/span> 2020<\/strong><\/td>\nvs. Q4<\/span> 2020<\/strong><\/td>\n <\/td>\nQ4<\/span> 2021<\/strong><\/td>\nQ4<\/span> 2020<\/strong><\/td>\nvs. Q4<\/span> 2020<\/strong><\/td>\n<\/tr>\n
Reve\u00adnue ($B)<\/td>\n$20.5<\/td>\n$20.0<\/td>\nup 3%<\/td>\n <\/td>\n$19.5<\/td>\n$18.9<\/td>\nup 4%<\/td>\n<\/tr>\n
Gross mar\u00adgin<\/td>\n53.6%<\/td>\n56.8%<\/td>\ndown 3.2 ppt<\/td>\n <\/td>\n55.4%<\/td>\n60.0%<\/td>\ndown 4.6 ppt<\/td>\n<\/tr>\n
R&<\/span>D and MG<\/span>&<\/span>A ($B)<\/td>\n$6.0<\/td>\n$5.4<\/td>\nup 11%<\/td>\n <\/td>\n$5.8<\/td>\n$5.2<\/td>\nup 11%<\/td>\n<\/tr>\n
Ope\u00adra\u00adting margin<\/td>\n24.3%<\/td>\n29.5%<\/td>\ndown 5.1 ppt<\/td>\n <\/td>\n25.9%<\/td>\n32.4%<\/td>\ndown 6.6 ppt<\/td>\n<\/tr>\n
Tax rate<\/td>\n11.0%<\/td>\n21.8%<\/td>\ndown 10.8 ppt<\/td>\n <\/td>\n11.7%<\/td>\n21.7%<\/td>\ndown 10 ppt<\/td>\n<\/tr>\n
Net inco\u00adme ($B)<\/td>\n$4.6<\/td>\n$5.9<\/td>\ndown 21%<\/td>\n <\/td>\n$4.5<\/td>\n$6.1<\/td>\ndown 27%<\/td>\n<\/tr>\n
Ear\u00adnings per share<\/td>\n$1.13<\/td>\n$1.42<\/td>\ndown 21%<\/td>\n <\/td>\n$1.09<\/td>\n$1.48<\/td>\ndown 26%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

In the fourth quar\u00adter, the com\u00adpa\u00adny gene\u00adra\u00adted $5.8 bil\u00adli\u00adon in cash from ope\u00adra\u00adti\u00adons and paid divi\u00addends of $1.4 billion.<\/p>\n

Full-Year 2021 Finan\u00adcial Highlights<\/u><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\nGAAP<\/span><\/strong><\/td>\n <\/td>\nNon-GAAP<\/strong><\/td>\n<\/tr>\n
 <\/td>\n2021<\/strong><\/td>\n2020<\/strong><\/td>\nvs. 2020<\/strong><\/td>\n <\/td>\n2021<\/strong><\/td>\n2020<\/strong><\/td>\nvs. 2020<\/strong><\/td>\n<\/tr>\n
Reve\u00adnue ($B)<\/td>\n$79.0<\/td>\n$77.9<\/td>\nup 1%<\/td>\n <\/td>\n$74.7<\/td>\n$72.9<\/td>\nup 2%<\/td>\n<\/tr>\n
Gross mar\u00adgin<\/td>\n55.4%<\/td>\n56.0%<\/td>\ndown 0.5 ppt<\/td>\n <\/td>\n57.7%<\/td>\n59.4%<\/td>\ndown 1.7 ppt<\/td>\n<\/tr>\n
R&<\/span>D and MG<\/span>&<\/span>A ($B)<\/td>\n$21.7<\/td>\n$19.7<\/td>\nup 10%<\/td>\n <\/td>\n$20.9<\/td>\n$18.9<\/td>\nup 10%<\/td>\n<\/tr>\n
Ope\u00adra\u00adting margin<\/td>\n24.6%<\/td>\n30.4%<\/td>\ndown 5.8 ppt<\/td>\n <\/td>\n29.7%<\/td>\n33.4%<\/td>\ndown 3.7 ppt<\/td>\n<\/tr>\n
Tax rate<\/td>\n8.5%<\/td>\n16.7%<\/td>\ndown 8.2 ppt<\/td>\n <\/td>\n9.1%<\/td>\n16.6%<\/td>\ndown 7.5 ppt<\/td>\n<\/tr>\n
Net inco\u00adme ($B)<\/td>\n$19.9<\/td>\n$20.9<\/td>\ndown 5%<\/td>\n <\/td>\n$22.4<\/td>\n$21.6<\/td>\nup 4%<\/td>\n<\/tr>\n
Ear\u00adnings per share<\/td>\n$4.86<\/td>\n$4.94<\/td>\ndown 2%<\/td>\n <\/td>\n$5.47<\/td>\n$5.10<\/td>\nup 7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For the full year, the com\u00adpa\u00adny gene\u00adra\u00adted $30.0 bil\u00adli\u00adon of cash from ope\u00adra\u00adti\u00adons, paid divi\u00addends of $5.6 bil\u00adli\u00adon, and used $2.4 bil\u00adli\u00adon to repurcha\u00adse 39.5 mil\u00adli\u00adon shares of stock.<\/p>\n

 <\/p>\n

Busi\u00adness Unit Summary<\/u><\/p>\n\n\n\n\n\n\n\n\n\n\n
Key Busi\u00adness Unit Reve\u00adnue and Trends<\/strong><\/td>\n <\/td>\nQ4<\/span> 2021<\/strong><\/td>\n <\/td>\nvs. Q4<\/span> 2020<\/strong><\/td>\n <\/td>\n2021<\/strong><\/td>\n <\/td>\nvs. 2020<\/strong><\/td>\n<\/tr>\n
CCG<\/span><\/td>\n <\/td>\n$10.1 bil\u00adli\u00adon<\/td>\n <\/td>\ndown<\/td>\n7%<\/td>\n <\/td>\n$40.5 bil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n1%<\/td>\n<\/tr>\n
DCG<\/span><\/td>\n <\/td>\n$7.3 bil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n20%<\/td>\n <\/td>\n$25.8 bil\u00adli\u00adon<\/td>\n <\/td>\ndown<\/td>\n1%<\/td>\n<\/tr>\n
Inter\u00adnet of Things<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
IOTG<\/span><\/td>\n <\/td>\n$1.1 bil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n36%<\/td>\n <\/td>\n$4.0 bil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n33%<\/td>\n<\/tr>\n
Mobi\u00adleye<\/td>\n <\/td>\n$356 mil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n7%<\/td>\n <\/td>\n$1.4 bil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n43%<\/td>\n<\/tr>\n
NSG<\/span><\/td>\n <\/td>\n$1.0 bil\u00adli\u00adon<\/td>\n <\/td>\ndown<\/td>\n18%<\/td>\n <\/td>\n$4.3 bil\u00adli\u00adon<\/td>\n <\/td>\ndown<\/td>\n20%<\/td>\n<\/tr>\n
PSG<\/span><\/td>\n <\/td>\n$484 mil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n15%<\/td>\n <\/td>\n$1.9 bil\u00adli\u00adon<\/td>\n <\/td>\nup<\/td>\n4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Fourth-quar\u00adter reve\u00adnue was led by an all-time record quar\u00adter for our Data Cen\u00adter Group (DCG<\/span>), with strong ser\u00adver reco\u00advery in enter\u00adpri\u00adse and govern\u00adment. The Inter\u00adnet of Things Group (IoTG) had a record quar\u00adter, reflec\u00adting strong demand on reco\u00advery from COVID-19<\/span> impacts. The Cli\u00adent Com\u00adpu\u00adting Group (CCG<\/span>) deli\u00adver\u00aded ano\u00adther $10 bil\u00adli\u00adon quar\u00adter, pro\u00adving that PCs are more essen\u00adti\u00adal than ever.<\/p>\n

Busi\u00adness Highlights<\/u><\/p>\n

\u25aa       Appoin\u00adted David Zins\u00adner as Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent and Chief Finan\u00adcial Offi\u00adcer, and announ\u00adced that Exe\u00adcu\u00adti\u00adve Vice Pre\u00adsi\u00addent Michel\u00adle John\u00ads\u00adton Holt\u00adhaus will lead Intel\u2019s Cli\u00adent Com\u00adpu\u00adting Group.<\/p>\n

\u25aa       Announ\u00adced plans to take Mobi\u00adleye public in the United Sta\u00adtes in mid-2022 via an initi\u00adal public offe\u00adring of new\u00adly issued Mobi\u00adleye stock. <\/p>\n

\u25aa       Com\u00adple\u00adted the first clo\u00adsing of the sale of our NAND<\/span> memo\u00adry busi\u00adness to SK<\/span> hynix, Inc.<\/p>\n

\u25aa       Announ\u00adced initi\u00adal invest\u00adment of more than $20 bil\u00adli\u00adon to build two new lea\u00adding-edge chip fac\u00adto\u00adries in Ohio, whe\u00adre we are estab\u00adli\u00adshing the first advan\u00adced semi\u00adcon\u00adduc\u00adtor cam\u00adpus in the \u201cSili\u00adcon Heart\u00adland\u201d of the Mid\u00adwest. This will be Intel\u2019s first new manu\u00adfac\u00adtu\u00adring site loca\u00adti\u00adon in 40 years.<\/p>\n

\u25aa       Laun\u00adched the 12th Gen Intel\u00ae Core\u2122 pro\u00adces\u00adsor fami\u00adly, inclu\u00adding the all-new 12th Gen Intel Core H\u2011series mobi\u00adle pro\u00adces\u00adsors led by the Intel Core i9-12900HK, the fas\u00adtest mobi\u00adle pro\u00adces\u00adsor ever crea\u00adted.1<\/sup> The 12th<\/sup> Gen Intel Core fami\u00adly will include 60 pro\u00adces\u00adsors and more than 500 designs.<\/p>\n

\u25aa       Announ\u00adced that Haba\u00adna Labs\u2019 Gau\u00addi AI<\/span> Acce\u00adle\u00adra\u00adtors power Ama\u00adzon EC2<\/span> DL1<\/span> Instances.<\/p>\n

\u25aa       Unvei\u00adled key pack\u00ada\u00adging, tran\u00adsis\u00adtor and quan\u00adtum phy\u00adsics breakth\u00adroughs fun\u00adda\u00admen\u00adtal to advan\u00adcing and acce\u00adle\u00adra\u00adting com\u00adpu\u00adting well into the next deca\u00adde and out\u00adlined its path toward more than 10x inter\u00adcon\u00adnect den\u00adsi\u00adty impro\u00adve\u00adment in pack\u00ada\u00adging with hybrid bon\u00adding and 30% to 50% area impro\u00adve\u00adment in tran\u00adsis\u00adtor scaling.<\/p>\n

\u25aa       Began ship\u00adping Intel\u00ae Arc\u2122 dis\u00adcrete gra\u00adphics pro\u00adducts (code-named \u201cAlche\u00admist\u201d) to OEM<\/span>\/ODM<\/span> cus\u00adto\u00admers, with more than 50 design wins.<\/p>\n

\u25aa       Released the oneA\u00adPI 2022 tool\u00adkits to expand fea\u00adtures to pro\u00advi\u00adde deve\u00adlo\u00adpers grea\u00adter uti\u00adli\u00adty and archi\u00adtec\u00adtu\u00adral choice to acce\u00adle\u00adra\u00adte computing.<\/p>\n

\u25aa       Intro\u00addu\u00adced Mobi\u00adleye updates, inclu\u00adding the new EyeQ Ultra pur\u00adpo\u00adse-built SoC for auto\u00adno\u00admous vehic\u00adles, plans to deli\u00adver what is expec\u00adted to be the world\u2019s first level 4 auto\u00adno\u00admous vehic\u00adle for con\u00adsu\u00admers with Geely\u2019s Zeekr brand in 2024, and col\u00adla\u00adbo\u00adra\u00adti\u00adon with Volks\u00adwa\u00adgen Group and Ford to app\u00adly Mobileye\u2019s map\u00adping tech\u00adno\u00adlo\u00adgy in dri\u00adver assis\u00adtance systems.<\/p>\n

\u25aa       Ran\u00adked #2 on JUST<\/span> Capital\u2019s 2022 \u201cJust 100\u201d list, which reflects the per\u00adfor\u00admance of America\u2019s lar\u00adgest publicly traded com\u00adpa\u00adnies on the issues that mat\u00adter most in defi\u00adning just busi\u00adness beha\u00advi\u00ador today.<\/p>\n

Addi\u00adtio\u00adnal infor\u00adma\u00adti\u00adon regar\u00adding Intel\u2019s results can be found in the Q4\u201921 Ear\u00adnings Pre\u00adsen\u00adta\u00adti\u00adon available at:<\/p>\n

www.intc.com.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

Busi\u00adness Outlook<\/u><\/p>\n

Intel\u2019s gui\u00addance for the first quar\u00adter includes both GAAP<\/span> and non-GAAP esti\u00adma\u00adtes. Recon\u00adci\u00adlia\u00adti\u00adons bet\u00adween GAAP<\/span> and non-GAAP finan\u00adcial mea\u00adsu\u00adres are included below. Our first-quar\u00adter busi\u00adness out\u00adlook includes an addi\u00adtio\u00adnal week in the first quar\u00adter due to 2022 being a 53-week year.<\/p>\n\n\n\n\n\n\n\n\n
Q1<\/span> 2022<\/strong><\/td>\n <\/td>\nGAAP<\/span><\/strong><\/td>\n <\/td>\nNon-GAAP<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n<\/tr>\n
Reve\u00adnue<\/td>\n <\/td>\n$18.3 bil\u00adli\u00adon<\/td>\n <\/td>\n$18.3 bil\u00adli\u00adon^<\/td>\n<\/tr>\n
Gross Mar\u00adgin<\/td>\n <\/td>\n49%<\/td>\n <\/td>\n52%<\/td>\n<\/tr>\n
Tax rate<\/td>\n <\/td>\n25%<\/td>\n <\/td>\n15%<\/td>\n<\/tr>\n
Ear\u00adnings per share<\/td>\n <\/td>\n$0.70<\/td>\n <\/td>\n$0.80<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Actu\u00adal results may dif\u00adfer mate\u00adri\u00adal\u00adly from Intel\u2019s Busi\u00adness Out\u00adlook as a result of, among other things, the fac\u00adtors descri\u00adbed under \u201cFor\u00adward-Loo\u00adking State\u00adments\u201d below.<\/p>\n

Ear\u00adnings Webcast<\/u><\/p>\n

Intel will hold a public web\u00adcast at 2 p.m. PST<\/span> today to dis\u00adcuss the results for its fourth quar\u00adter of 2021. The live public web\u00adcast can be acces\u00adsed on Intel\u2019s Inves\u00adtor Rela\u00adti\u00adons web\u00adsite at www.intc.com. The Q4\u201921 Ear\u00adnings Pre\u00adsen\u00adta\u00adti\u00adon, web\u00adcast replay, and audio down\u00adload will also be available on the site. <\/p>\n

Intel plans to report its ear\u00adnings for the first quar\u00adter of 2022 on April 28, 2022 prompt\u00adly after clo\u00adse of mar\u00adket; rela\u00adted mate\u00adri\u00adals will be available at www.intc.com. A public web\u00adcast of Intel\u2019s ear\u00adnings con\u00adfe\u00adrence call will fol\u00adlow at 2 p.m. PDT<\/span> at www.intc.com.<\/p>\n

Inves\u00adtor Meeting <\/u><\/p>\n

Intel\u2019s Inves\u00adtor Mee\u00adting will take place on Febru\u00adary 17, 2022, whe\u00adre the com\u00adpa\u00adny will pro\u00advi\u00adde addi\u00adtio\u00adnal infor\u00adma\u00adti\u00adon regar\u00adding its full-year and long-term out\u00adlook and plans. More infor\u00adma\u00adti\u00adon about Intel\u2019s Inves\u00adtor Mee\u00adting can be found at www.intc.com.<\/p>\n

 <\/p>\n

For\u00adward-Loo\u00adking Statements<\/u><\/p>\n

Intel\u2019s Busi\u00adness Out\u00adlook and other state\u00adments in this release that refer to future plans and expec\u00adta\u00adti\u00adons are for\u00adward-loo\u00adking state\u00adments that invol\u00adve a num\u00adber of risks and uncer\u00adtain\u00adties. Words such as \u201canti\u00adci\u00adpa\u00adtes,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cgoals,\u201d \u201cplans,\u201d \u201cgui\u00addance,\u201d \u201cbelie\u00adves,\u201d \u201cseeks,\u201d \u201cesti\u00adma\u00adtes,\u201d \u201ccon\u00adti\u00adnues,\u201d \u201ccom\u00admit\u00adted,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cacce\u00adle\u00adra\u00adte,\u201d \u201cdeli\u00adver,\u201d \u201cpath,\u201d \u201cpro\u00adgress,\u201d \u201cfore\u00adcast,\u201d \u201cfuture,\u201d and \u201cposi\u00adtio\u00adned,\u201d and varia\u00adti\u00adons of such words and simi\u00adlar expres\u00adsi\u00adons are inten\u00added to iden\u00adti\u00adfy such for\u00adward-loo\u00adking state\u00adments. State\u00adments that refer to or are based on esti\u00adma\u00adtes, fore\u00adcasts, pro\u00adjec\u00adtions, uncer\u00adtain events or assump\u00adti\u00adons, inclu\u00adding state\u00adments rela\u00adting to Intel\u2019s stra\u00adtegy; manu\u00adfac\u00adtu\u00adring expan\u00adsi\u00adon and invest\u00adment plans, inclu\u00adding Intel\u2019s plan\u00adned Ohio invest\u00adments; sup\u00adp\u00adly expec\u00adta\u00adti\u00adons, inclu\u00adding regar\u00adding indus\u00adtry shorta\u00adges; pen\u00adding tran\u00adsac\u00adtions; the pro\u00adpo\u00adsed Mobi\u00adleye initi\u00adal public offe\u00adring (IPO<\/span>); total addressa\u00adble mar\u00adket (TAM<\/span>) and mar\u00adket oppor\u00adtu\u00adni\u00adty; busi\u00adness plans and finan\u00adcial expec\u00adta\u00adti\u00adons; future macroe\u00adco\u00adno\u00admic con\u00addi\u00adti\u00adons; future legis\u00adla\u00adti\u00adon; future impacts of the COVID-19<\/span> pan\u00adde\u00admic; future pro\u00adducts, tech\u00adno\u00adlo\u00adgy, and ser\u00advices, and the expec\u00adted avai\u00adla\u00adbi\u00adli\u00adty and bene\u00adfits of such pro\u00adducts, tech\u00adno\u00adlo\u00adgy, and ser\u00advices; expec\u00adta\u00adti\u00adons regar\u00adding cus\u00adto\u00admers; pro\u00adjec\u00adtions regar\u00adding com\u00adpe\u00adti\u00adtors; and anti\u00adci\u00adpa\u00adted trends in our busi\u00adnesses or the mar\u00adkets rele\u00advant to them, inclu\u00adding with respect to future demand and indus\u00adtry growth, also iden\u00adti\u00adfy for\u00adward-loo\u00adking state\u00adments. All for\u00adward-loo\u00adking state\u00adments included in this release are based on management\u2019s expec\u00adta\u00adti\u00adons as of the date of this release and, except as requi\u00adred by law, Intel dis\u00adclaims any obli\u00adga\u00adti\u00adon to update the\u00adse for\u00adward-loo\u00adking state\u00adments to reflect future events or cir\u00adcum\u00ads\u00adtances. For\u00adward-loo\u00adking state\u00adments invol\u00adve many risks and uncer\u00adtain\u00adties that could cau\u00adse actu\u00adal results to dif\u00adfer mate\u00adri\u00adal\u00adly from tho\u00adse expres\u00adsed or impli\u00aded in such state\u00adments. Intel pre\u00adsent\u00adly con\u00adsiders the fol\u00adlo\u00adwing to be among the important fac\u00adtors that can cau\u00adse actu\u00adal results to dif\u00adfer mate\u00adri\u00adal\u00adly from the company\u2019s expectations.<\/p>\n

\u25aa       Demand for Intel\u2019s pro\u00adducts is high\u00adly varia\u00adble and can dif\u00adfer from expec\u00adta\u00adti\u00adons due to fac\u00adtors inclu\u00adding chan\u00adges in busi\u00adness and eco\u00adno\u00admic con\u00addi\u00adti\u00adons; cus\u00adto\u00admer con\u00adfi\u00addence or inco\u00adme levels, and the levels of cus\u00adto\u00admer capi\u00adtal spen\u00adding; the intro\u00adduc\u00adtion, avai\u00adla\u00adbi\u00adli\u00adty, and mar\u00adket accep\u00adtance of Intel\u2019s pro\u00adducts, pro\u00adducts used tog\u00ade\u00adther with Intel pro\u00adducts, and com\u00adpe\u00adti\u00adtors\u2019 pro\u00adducts; com\u00adpe\u00adti\u00adti\u00adve and pri\u00adcing pres\u00adsu\u00adres, inclu\u00adding actions taken by com\u00adpe\u00adti\u00adtors; sup\u00adp\u00adly cons\u00adtraints and other dis\u00adrup\u00adti\u00adons affec\u00adting cus\u00adto\u00admers; chan\u00adges in cus\u00adto\u00admer order pat\u00adterns and order can\u00adcel\u00adla\u00adti\u00adons; chan\u00adges in cus\u00adto\u00admer needs and emer\u00adging tech\u00adno\u00adlo\u00adgy trends; and chan\u00adges in the level of inven\u00adto\u00adry and com\u00adpu\u00adting capa\u00adci\u00adty at customers.<\/p>\n

\u25aa       Intel\u2019s results can vary signi\u00adfi\u00adcant\u00adly from expec\u00adta\u00adti\u00adons based on capa\u00adci\u00adty uti\u00adliza\u00adti\u00adon; varia\u00adti\u00adons in inven\u00adto\u00adry valua\u00adti\u00adon, inclu\u00adding varia\u00adti\u00adons rela\u00adted to the timing of qua\u00adli\u00adfy\u00ading pro\u00adducts for sale; chan\u00adges in reve\u00adnue levels; seg\u00adment pro\u00adduct mix; the timing and exe\u00adcu\u00adti\u00adon of the manu\u00adfac\u00adtu\u00adring ramp and asso\u00adcia\u00adted cos\u00adts; excess or obso\u00adle\u00adte inven\u00adto\u00adry; chan\u00adges in unit cos\u00adts; defects or dis\u00adrup\u00adti\u00adons in the sup\u00adp\u00adly of mate\u00adri\u00adals or resour\u00adces, inclu\u00adding as a result of ongo\u00ading indus\u00adtry shorta\u00adges of com\u00adpon\u00adents and sub\u00adstra\u00adtes; pro\u00adduct manu\u00adfac\u00adtu\u00adring quality\/yields; and chan\u00adges in capi\u00adtal requi\u00adre\u00adments and invest\u00adment plans. Varia\u00adti\u00adons in results can also be cau\u00adsed by the timing of Intel pro\u00adduct intro\u00adduc\u00adtions and rela\u00adted expen\u00adses, inclu\u00adding mar\u00adke\u00adting pro\u00adgrams, and Intel\u2019s abili\u00adty to respond quick\u00adly to tech\u00adno\u00adlo\u00adgi\u00adcal deve\u00adlo\u00adp\u00adments and to intro\u00addu\u00adce new pro\u00adducts or incor\u00adpo\u00adra\u00adte new fea\u00adtures into exis\u00adting pro\u00adducts, as well as decis\u00adi\u00adons to exit pro\u00adduct lines or busi\u00adnesses, which can result in res\u00adtruc\u00adtu\u00adring and asset impair\u00adment charges.<\/p>\n

\u25aa       Intel\u2019s results can be affec\u00adted by adver\u00adse eco\u00adno\u00admic, social, poli\u00adti\u00adcal, regu\u00adla\u00adto\u00adry, and physical\/infrastructure con\u00addi\u00adti\u00adons in count\u00adries whe\u00adre Intel, its cus\u00adto\u00admers or its sup\u00adpli\u00aders ope\u00adra\u00adte, inclu\u00adding reces\u00adsi\u00adon or slo\u00adwing growth, mili\u00adta\u00adry con\u00adflict and other secu\u00adri\u00adty risks, natu\u00adral dis\u00adas\u00adters, infra\u00adstruc\u00adtu\u00adre dis\u00adrup\u00adti\u00adons, health con\u00adcerns (inclu\u00adding the COVID-19<\/span> pan\u00adde\u00admic), infla\u00adti\u00adon, fluc\u00adtua\u00adtions in cur\u00adren\u00adcy exch\u00adan\u00adge rates, sanc\u00adtions and tariffs, poli\u00adti\u00adcal dis\u00adpu\u00adtes, chan\u00adges in govern\u00adment grants and incen\u00adti\u00adves, and con\u00adti\u00adnuing uncer\u00adtain\u00adty regar\u00adding social, poli\u00adti\u00adcal, immi\u00adgra\u00adti\u00adon, and tax and trade poli\u00adci\u00ades in the U.S. and abroad. Results can also be affec\u00adted by the for\u00admal or infor\u00admal impo\u00adsi\u00adti\u00adon by count\u00adries of new or revi\u00adsed export and\/or import and doing-busi\u00adness regu\u00adla\u00adti\u00adons, inclu\u00adding chan\u00adges or uncer\u00adtain\u00adty rela\u00adted to the U.S. govern\u00adment enti\u00adty list and chan\u00adges in the abili\u00adty to obtain export licen\u00adses, which can be chan\u00adged wit\u00adhout pri\u00ador notice.<\/p>\n

\u25aa       The COVID-19<\/span> pan\u00adde\u00admic has pre\u00advious\u00adly adver\u00adse\u00adly affec\u00adted signi\u00adfi\u00adcant por\u00adti\u00adons of Intel\u2019s busi\u00adness and could have a mate\u00adri\u00adal adver\u00adse effect on Intel\u2019s finan\u00adcial con\u00addi\u00adti\u00adon and results of ope\u00adra\u00adti\u00adons. The pan\u00adde\u00admic has resul\u00adted in aut\u00adho\u00adri\u00adties impo\u00adsing num\u00ade\u00adrous mea\u00adsu\u00adres to try to con\u00adtain the virus, inclu\u00adding vac\u00adci\u00adne requi\u00adre\u00adments. The\u00adse mea\u00adsu\u00adres have impac\u00adted and may fur\u00adther impact our work\u00adforce and ope\u00adra\u00adti\u00adons, the ope\u00adra\u00adti\u00adons of our cus\u00adto\u00admers, and tho\u00adse of our respec\u00adti\u00adve sup\u00adpli\u00aders and part\u00adners. Rest\u00adric\u00adtions on our manu\u00adfac\u00adtu\u00adring or sup\u00adport ope\u00adra\u00adti\u00adons or work\u00adforce, simi\u00adlar limi\u00adta\u00adti\u00adons for our sup\u00adpli\u00aders, and trans\u00adpor\u00adta\u00adti\u00adon rest\u00adric\u00adtions or dis\u00adrup\u00adti\u00adons can impact our abili\u00adty to meet cus\u00adto\u00admer demand and could have a mate\u00adri\u00adal adver\u00adse effect on us. Dis\u00adrup\u00adti\u00adons in our cus\u00adto\u00admers\u2019 ope\u00adra\u00adti\u00adons and sup\u00adp\u00adly chains, may adver\u00adse\u00adly affect our results of ope\u00adra\u00adti\u00adons. The pan\u00adde\u00admic has cau\u00adsed us to modi\u00adfy our busi\u00adness prac\u00adti\u00adces. The\u00adre is no cer\u00adtain\u00adty that such mea\u00adsu\u00adres will be suf\u00adfi\u00adci\u00adent to miti\u00adga\u00adte the risks posed by the virus, and ill\u00adness and work\u00adforce dis\u00adrup\u00adti\u00adons could lead to unavai\u00adla\u00adbi\u00adli\u00adty of our key per\u00adson\u00adnel and harm our abili\u00adty to per\u00adform cri\u00adti\u00adcal func\u00adtions. The pan\u00adde\u00admic has signi\u00adfi\u00adcant\u00adly increased eco\u00adno\u00admic and demand uncer\u00adtain\u00adty. Demand for our pro\u00adducts could be mate\u00adri\u00adal\u00adly har\u00admed in the future. The pan\u00adde\u00admic could lead to increased dis\u00adrup\u00adti\u00adon and vola\u00adti\u00adli\u00adty in capi\u00adtal mar\u00adkets and cre\u00addit mar\u00adkets, which could adver\u00adse\u00adly affect our liqui\u00addi\u00adty and capi\u00adtal resour\u00adces. The degree to which COVID-19<\/span> impacts our results will depend on future deve\u00adlo\u00adp\u00adments, which are high\u00adly uncer\u00adtain. The impact of the pan\u00adde\u00admic can also exa\u00adcer\u00adba\u00adte other risks dis\u00adcus\u00adsed in this section.<\/p>\n

\u25aa       Intel ope\u00adra\u00adtes in high\u00adly com\u00adpe\u00adti\u00adti\u00adve indus\u00adtries and its ope\u00adra\u00adti\u00adons have high cos\u00adts that are eit\u00adher fixed or dif\u00adfi\u00adcult to redu\u00adce in the short term. In addi\u00adti\u00adon, we have ente\u00adred new are\u00adas and intro\u00addu\u00adced adja\u00adcent pro\u00adducts, such as our inten\u00adti\u00adon to beco\u00adme a major pro\u00advi\u00adder of foundry ser\u00advices, and we face new sources of com\u00adpe\u00adti\u00adti\u00adon and uncer\u00adtain mar\u00adket demand or accep\u00adtance of our offe\u00adrings with respect to the\u00adse new are\u00adas and pro\u00adducts, and they do not always grow as projected.<\/p>\n

\u25aa       Intel\u2019s expec\u00adted tax rate is based on cur\u00adrent tax law, inclu\u00adding cur\u00adrent inter\u00adpre\u00adta\u00adti\u00adons of the Tax Cuts and Jobs Act of 2017 (TCJA<\/span>), and cur\u00adrent expec\u00adted inco\u00adme and can be affec\u00adted by chan\u00adges in inter\u00adpre\u00adta\u00adti\u00adons of TCJA<\/span> and other laws; chan\u00adges in the volu\u00adme and mix of pro\u00adfits ear\u00adned and loca\u00adti\u00adon of assets across juris\u00addic\u00adtions with vary\u00ading tax rates; chan\u00adges in the esti\u00adma\u00adtes of cre\u00addits, bene\u00adfits, and deduc\u00adtions; the reso\u00adlu\u00adti\u00adon of issues ari\u00adsing from tax audits with various tax aut\u00adho\u00adri\u00adties, inclu\u00adding pay\u00adment of inte\u00adrest and pen\u00adal\u00adties; and the abili\u00adty to rea\u00adli\u00adze defer\u00adred tax assets.<\/p>\n

\u25aa       Intel\u2019s results can be affec\u00adted by gains or los\u00adses from equi\u00adty secu\u00adri\u00adties and inte\u00adrest and other, which can vary depen\u00adding on gains or los\u00adses on the chan\u00adge in fair value, sale, exch\u00adan\u00adge, or impairm\u00adents of equi\u00adty and debt invest\u00adments, inte\u00adrest rates, cash balan\u00adces, and chan\u00adges in fair value of deri\u00adva\u00adti\u00adve instruments. <\/p>\n

\u25aa       Pro\u00adduct defects or erra\u00adta (devia\u00adti\u00adons from published spe\u00adci\u00adfi\u00adca\u00adti\u00adons) can adver\u00adse\u00adly impact our expen\u00adses, reve\u00adnues, and reputation.<\/p>\n

\u25aa       We or third par\u00adties regu\u00adlar\u00adly iden\u00adti\u00adfy secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties with respect to our pro\u00adces\u00adsors and other pro\u00adducts as well as the ope\u00adra\u00adting sys\u00adtems and workloads run\u00adning on them. Secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties and any limi\u00adta\u00adti\u00adons of, or adver\u00adse effects resul\u00adting from, miti\u00adga\u00adti\u00adon tech\u00adni\u00adques can adver\u00adse\u00adly affect our results of ope\u00adra\u00adti\u00adons, finan\u00adcial con\u00addi\u00adti\u00adon, cus\u00adto\u00admer rela\u00adti\u00adonships, pro\u00ads\u00adpects, and repu\u00adta\u00adti\u00adon in a num\u00adber of ways, any of which may be mate\u00adri\u00adal, inclu\u00adding incur\u00adring signi\u00adfi\u00adcant cos\u00adts rela\u00adted to deve\u00adlo\u00adping and deploy\u00ading updates and miti\u00adga\u00adti\u00adons, wri\u00adting down inven\u00adto\u00adry value, a reduc\u00adtion in the com\u00adpe\u00adti\u00adti\u00adve\u00adness of our pro\u00adducts, defen\u00adding against pro\u00adduct claims and liti\u00adga\u00adti\u00adon, respon\u00adding to regu\u00adla\u00adto\u00adry inqui\u00adries or actions, pay\u00ading dama\u00adges, addres\u00adsing cus\u00adto\u00admer satis\u00adfac\u00adtion con\u00adside\u00adra\u00adti\u00adons, or taking other reme\u00addi\u00adal steps with respect to third par\u00adties. Adver\u00adse publi\u00adci\u00adty about secu\u00adri\u00adty vul\u00adnerabi\u00adli\u00adties or miti\u00adga\u00adti\u00adons could dama\u00adge our repu\u00adta\u00adti\u00adon with cus\u00adto\u00admers or users and redu\u00adce demand for our pro\u00adducts and services.<\/p>\n

\u25aa       Cyber\u00adse\u00adcu\u00adri\u00adty inci\u00addents, whe\u00adther or not suc\u00adcessful, can affect Intel\u2019s results by caus\u00ading us to incur signi\u00adfi\u00adcant cos\u00adts or dis\u00adrupt\u00ading our ope\u00adra\u00adti\u00adons or tho\u00adse of our cus\u00adto\u00admers and sup\u00adpli\u00aders, and can result in repu\u00adta\u00adtio\u00adnal harm.<\/p>\n

\u25aa       Intel\u2019s results can be affec\u00adted by liti\u00adga\u00adti\u00adon or regu\u00adla\u00adto\u00adry mat\u00adters invol\u00adving intellec\u00adtu\u00adal pro\u00adper\u00adty, stock\u00adhol\u00adder, con\u00adsu\u00admer, anti\u00adtrust, com\u00admer\u00adcial, dis\u00adclo\u00adsure, and other issues, as well as by the impact and timing of sett\u00adle\u00adments and dis\u00adpu\u00adte reso\u00adlu\u00adti\u00adons. For exam\u00adp\u00adle, in the first quar\u00adter of 2021, Intel accrued a $2.2 bil\u00adli\u00adon char\u00adge rela\u00adted to liti\u00adga\u00adti\u00adon invol\u00adving VLSI<\/span> Tech\u00adno\u00adlo\u00adgy LLC<\/span> (VLSI<\/span>). An unfa\u00advorable ruling can include mone\u00adta\u00adry dama\u00adges or an injunc\u00adtion pro\u00adhi\u00adbi\u00adting us from manu\u00adfac\u00adtu\u00adring or sel\u00adling one or more pro\u00adducts, pre\u00adclu\u00adding par\u00adti\u00adcu\u00adlar busi\u00adness prac\u00adti\u00adces, impac\u00adting our abili\u00adty to design pro\u00adducts, or requi\u00adring other reme\u00addies such as com\u00adpul\u00adso\u00adry licen\u00adsing of intellec\u00adtu\u00adal property.<\/p>\n

\u25aa       Intel\u2019s results can be affec\u00adted by the impact and timing of clo\u00adsing of acqui\u00adsi\u00adti\u00adons, dives\u00adti\u00adtures, and other signi\u00adfi\u00adcant tran\u00adsac\u00adtions. In addi\u00adti\u00adon, the\u00adse tran\u00adsac\u00adtions do not always achie\u00adve our finan\u00adcial or stra\u00adte\u00adgic objec\u00adti\u00adves and can dis\u00adrupt our ongo\u00ading busi\u00adness and adver\u00adse\u00adly impact our results of ope\u00adra\u00adti\u00adons. The pro\u00adpo\u00adsed Mobi\u00adleye IPO<\/span> may not be com\u00adple\u00adted in our expec\u00adted time\u00adframe, or at all, due to fac\u00adtors that include adver\u00adse chan\u00adges in eco\u00adno\u00admic or mar\u00adket con\u00addi\u00adti\u00adons or in our busi\u00adness; delays in regu\u00adla\u00adto\u00adry, stock exch\u00adan\u00adge, or other appr\u00adovals; loss of Mobi\u00adleye key employees, and chan\u00adges in our busi\u00adness strategy.<\/p>\n

\u25aa       The amount, timing, and exe\u00adcu\u00adti\u00adon of Intel\u2019s stock repurcha\u00adse pro\u00adgram fluc\u00adtua\u00adte based on Intel\u2019s prio\u00adri\u00adties for the use of cash for other purposes\u2014such as inves\u00adt\u00ading in our busi\u00adness, inclu\u00adding ope\u00adra\u00adtio\u00adnal and capi\u00adtal spen\u00adding, acqui\u00adsi\u00adti\u00adons, and retur\u00adning cash to our stock\u00adhol\u00adders as divi\u00addend payments.<\/p>\n

Detail\u00aded infor\u00adma\u00adti\u00adon regar\u00adding the\u00adse and other fac\u00adtors that could affect Intel\u2019s busi\u00adness and results is included in Intel\u2019s SEC<\/span> filings, inclu\u00adding the company\u2019s most recent reports on Forms 10\u2011K and 10\u2011Q, par\u00adti\u00adcu\u00adlar\u00adly the \u201cRisk Fac\u00adtors\u201d sec\u00adtions of tho\u00adse reports. Copies of the\u00adse filings may be obtai\u00adned by visi\u00adting our Inves\u00adtor Rela\u00adti\u00adons web\u00adsite at www.intc.com or the SEC<\/span>\u2019s web\u00adsite at www.sec.gov.<\/p>\n

 <\/p>\n

About Intel <\/u><\/p>\n

Intel (Nasdaq: INTC<\/span>) is an indus\u00adtry lea\u00adder, crea\u00adting world-chan\u00adging tech\u00adno\u00adlo\u00adgy that enables glo\u00adbal pro\u00adgress and enri\u00adches lives. Inspi\u00adred by Moore\u2019s Law, we con\u00adti\u00adnuous\u00adly work to advan\u00adce the design and manu\u00adfac\u00adtu\u00adring of semi\u00adcon\u00adduc\u00adtors to help address our cus\u00adto\u00admers\u2019 grea\u00adtest chal\u00adlenges. By embed\u00adding intel\u00adli\u00adgence in the cloud, net\u00adwork, edge and every kind of com\u00adpu\u00adting device, we unleash the poten\u00adti\u00adal of data to trans\u00adform busi\u00adness and socie\u00adty for the bet\u00adter. To learn more about Intel\u2019s inno\u00adva\u00adtions, go to newsroom.intel.com and intel.com.<\/p>\n

\u00a9 Intel Cor\u00adpo\u00adra\u00adti\u00adon. Intel, the Intel logo, and other Intel marks are trade\u00admarks of Intel Cor\u00adpo\u00adra\u00adti\u00adon or its sub\u00adsi\u00addia\u00adries. Other names and brands may be clai\u00admed as the pro\u00adper\u00adty of others.<\/p>\n\n\n\n\n\n\n
Cont\u00adacts:<\/u><\/td>\nTim Blan\u00adken\u00adship<\/td>\nPen\u00adny Bruce<\/td>\n<\/tr>\n
 <\/td>\nInves\u00adtor Relations<\/td>\nMedia Rela\u00adti\u00adons<\/td>\n<\/tr>\n
 <\/td>\n480\u2013554-9007<\/td>\n408\u2013893-0601<\/td>\n<\/tr>\n
 <\/td>\ntimothy.blankenship@intel.com<\/u><\/td>\npenelope.bruce@intel.com<\/u><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Con\u00adso\u00adli\u00adda\u00adted Con\u00adden\u00adsed State\u00adments of Inco\u00adme and Other Information<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/td>\n <\/td>\nTwel\u00adve Months Ended<\/strong><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons, Except Per Share Amounts; unaudited)<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n<\/tr>\n
Net reve\u00adnue<\/strong><\/td>\n <\/td>\n$        20,528 <\/strong><\/td>\n <\/td>\n$        19,978 <\/strong><\/td>\n <\/td>\n$        79,024 <\/strong><\/td>\n <\/td>\n$        77,867 <\/strong><\/td>\n<\/tr>\n
Cost of sales<\/td>\n <\/td>\n           9,519<\/td>\n <\/td>\n           8,630<\/td>\n <\/td>\n         35,209<\/td>\n <\/td>\n         34,255<\/td>\n<\/tr>\n
Gross mar\u00adgin<\/strong><\/td>\n <\/td>\n         11,009 <\/strong><\/td>\n <\/td>\n         11,348 <\/strong><\/td>\n <\/td>\n         43,815 <\/strong><\/td>\n <\/td>\n         43,612 <\/strong><\/td>\n<\/tr>\n
Rese\u00adarch and development<\/td>\n <\/td>\n           4,049<\/td>\n <\/td>\n           3,655<\/td>\n <\/td>\n         15,190<\/td>\n <\/td>\n         13,556<\/td>\n<\/tr>\n
Mar\u00adke\u00adting, gene\u00adral and administrative<\/td>\n <\/td>\n           1,942<\/td>\n <\/td>\n           1,757<\/td>\n <\/td>\n           6,543<\/td>\n <\/td>\n           6,180<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n               29<\/td>\n <\/td>\n               52<\/td>\n <\/td>\n           2,626<\/td>\n <\/td>\n              198<\/td>\n<\/tr>\n
Ope\u00adra\u00adting expenses<\/strong><\/td>\n <\/td>\n           6,020 <\/strong><\/td>\n <\/td>\n           5,464 <\/strong><\/td>\n <\/td>\n         24,359 <\/strong><\/td>\n <\/td>\n         19,934 <\/strong><\/td>\n<\/tr>\n
Ope\u00adra\u00adting income<\/strong><\/td>\n <\/td>\n           4,989 <\/strong><\/td>\n <\/td>\n           5,884 <\/strong><\/td>\n <\/td>\n         19,456 <\/strong><\/td>\n <\/td>\n         23,678 <\/strong><\/td>\n<\/tr>\n
Gains (los\u00adses) on equi\u00adty invest\u00adments, net<\/td>\n <\/td>\n              359<\/td>\n <\/td>\n           1,692<\/td>\n <\/td>\n           2,729<\/td>\n <\/td>\n           1,904<\/td>\n<\/tr>\n
Inte\u00adrest and other, net<\/td>\n <\/td>\n             (154)<\/td>\n <\/td>\n              (88)<\/td>\n <\/td>\n             (482)<\/td>\n <\/td>\n             (504)<\/td>\n<\/tr>\n
Inco\u00adme befo\u00adre taxes<\/strong><\/td>\n <\/td>\n           5,194 <\/strong><\/td>\n <\/td>\n           7,488 <\/strong><\/td>\n <\/td>\n         21,703 <\/strong><\/td>\n <\/td>\n         25,078 <\/strong><\/td>\n<\/tr>\n
Pro\u00advi\u00adsi\u00adon for taxes<\/td>\n <\/td>\n              571<\/td>\n <\/td>\n           1,631<\/td>\n <\/td>\n           1,835<\/td>\n <\/td>\n           4,179<\/td>\n<\/tr>\n
Net inco\u00adme<\/strong><\/td>\n <\/td>\n$         4,623 <\/strong><\/td>\n <\/td>\n$         5,857 <\/strong><\/td>\n <\/td>\n$        19,868 <\/strong><\/td>\n <\/td>\n$        20,899 <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Ear\u00adnings per share\u2014basic<\/strong><\/td>\n <\/td>\n$           1.14 <\/strong><\/td>\n <\/td>\n$           1.43 <\/strong><\/td>\n <\/td>\n$           4.89 <\/strong><\/td>\n <\/td>\n$           4.98 <\/strong><\/td>\n<\/tr>\n
Ear\u00adnings per share\u2014diluted<\/strong><\/td>\n <\/td>\n$           1.13 <\/strong><\/td>\n <\/td>\n$           1.42 <\/strong><\/td>\n <\/td>\n$           4.86 <\/strong><\/td>\n <\/td>\n$           4.94 <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Weigh\u00adted avera\u00adge shares of com\u00admon stock outstanding:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Basic<\/strong><\/td>\n <\/td>\n           4,069 <\/strong><\/td>\n <\/td>\n           4,094 <\/strong><\/td>\n <\/td>\n           4,059 <\/strong><\/td>\n <\/td>\n           4,199 <\/strong><\/td>\n<\/tr>\n
Diluted<\/strong><\/td>\n <\/td>\n           4,095 <\/strong><\/td>\n <\/td>\n           4,119 <\/strong><\/td>\n <\/td>\n           4,090 <\/strong><\/td>\n <\/td>\n           4,232 <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons)<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n<\/tr>\n
Ear\u00adnings per share of com\u00admon stock information: <\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Weigh\u00adted avera\u00adge shares of com\u00admon stock outstanding\u2014basic<\/strong><\/td>\n <\/td>\n           4,069 <\/strong><\/td>\n <\/td>\n           4,094 <\/strong><\/td>\n<\/tr>\n
Dilu\u00adti\u00adve effect of employee equi\u00adty incen\u00adti\u00adve plans<\/td>\n <\/td>\n               26<\/td>\n <\/td>\n               25<\/td>\n<\/tr>\n
Weigh\u00adted avera\u00adge shares of com\u00admon stock outstanding\u2014diluted<\/strong><\/td>\n <\/td>\n           4,095 <\/strong><\/td>\n <\/td>\n           4,119 <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Stock buy\u00adback:<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Shares repurcha\u00adsed<\/td>\n <\/td>\n               \u2014<\/td>\n <\/td>\n               38<\/td>\n<\/tr>\n
Cumu\u00adla\u00adti\u00adve shares repurcha\u00adsed (in billions)<\/td>\n <\/td>\n              5.8<\/td>\n <\/td>\n              5.7<\/td>\n<\/tr>\n
Remai\u00adning dol\u00adlars aut\u00adho\u00adri\u00adzed for buy\u00adback (in billions)<\/td>\n <\/td>\n$             7.2<\/td>\n <\/td>\n$             9.7<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Other infor\u00adma\u00adti\u00adon:<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Employees (in thousands)<\/td>\n <\/td>\n           121.1<\/td>\n <\/td>\n           110.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/sup><\/p>\n

 <\/sup><\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Con\u00adso\u00adli\u00adda\u00adted Con\u00adden\u00adsed Balan\u00adce Sheets<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
(In Mil\u00adli\u00adons)<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n<\/tr>\n
Assets<\/strong><\/td>\n <\/td>\n(unau\u00addi\u00adted)<\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cur\u00adrent assets:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n <\/td>\n$          4,827<\/td>\n <\/td>\n$          5,865<\/td>\n<\/tr>\n
Short-term invest\u00adments<\/td>\n <\/td>\n            2,103<\/td>\n <\/td>\n            2,292<\/td>\n<\/tr>\n
Tra\u00adding assets<\/td>\n <\/td>\n          21,483<\/td>\n <\/td>\n          15,738<\/td>\n<\/tr>\n
Accounts receiva\u00adble, net of allo\u00adwan\u00adce for doubtful accounts<\/td>\n <\/td>\n            9,457<\/td>\n <\/td>\n            6,782<\/td>\n<\/tr>\n
Invent\u00adories<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Raw mate\u00adri\u00adals<\/td>\n <\/td>\n            1,441<\/td>\n <\/td>\n               908<\/td>\n<\/tr>\n
Work in process<\/td>\n <\/td>\n            6,656<\/td>\n <\/td>\n            5,693<\/td>\n<\/tr>\n
Finis\u00adhed goods<\/td>\n <\/td>\n            2,679<\/td>\n <\/td>\n            1,826<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n          10,776 <\/strong><\/td>\n <\/td>\n            8,427 <\/strong><\/td>\n<\/tr>\n
Assets held for sale<\/td>\n <\/td>\n            6,942<\/td>\n <\/td>\n            5,400<\/td>\n<\/tr>\n
Other cur\u00adrent assets<\/td>\n <\/td>\n            2,130<\/td>\n <\/td>\n            2,745<\/td>\n<\/tr>\n
Total cur\u00adrent assets<\/strong><\/td>\n <\/td>\n          57,718 <\/strong><\/td>\n <\/td>\n          47,249 <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Pro\u00adper\u00adty, plant and equip\u00adment, net<\/strong><\/td>\n <\/td>\n          63,245 <\/strong><\/td>\n <\/td>\n          56,584 <\/strong><\/td>\n<\/tr>\n
Equi\u00adty investments<\/strong><\/td>\n <\/td>\n            6,298 <\/strong><\/td>\n <\/td>\n            5,152 <\/strong><\/td>\n<\/tr>\n
Other long-term investments<\/strong><\/td>\n <\/td>\n               840 <\/strong><\/td>\n <\/td>\n            2,192 <\/strong><\/td>\n<\/tr>\n
Good\u00adwill<\/strong><\/td>\n <\/td>\n          26,963 <\/strong><\/td>\n <\/td>\n          26,971 <\/strong><\/td>\n<\/tr>\n
Iden\u00adti\u00adfied intan\u00adgi\u00adble assets, net<\/strong><\/td>\n <\/td>\n            7,270 <\/strong><\/td>\n <\/td>\n            9,026 <\/strong><\/td>\n<\/tr>\n
Other long-term assets<\/strong><\/td>\n <\/td>\n            6,072 <\/strong><\/td>\n <\/td>\n            5,917 <\/strong><\/td>\n<\/tr>\n
Total assets<\/strong><\/td>\n <\/td>\n$       168,406 <\/strong><\/td>\n <\/td>\n$       153,091 <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Lia\u00adbi\u00adli\u00adties<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cur\u00adrent liabilities<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Short-term debt<\/td>\n <\/td>\n$          4,591<\/td>\n <\/td>\n$          2,504<\/td>\n<\/tr>\n
Accounts paya\u00adble<\/td>\n <\/td>\n            5,747<\/td>\n <\/td>\n            5,581<\/td>\n<\/tr>\n
Accrued com\u00adpen\u00adsa\u00adti\u00adon and benefits<\/td>\n <\/td>\n            4,535<\/td>\n <\/td>\n            3,999<\/td>\n<\/tr>\n
Other accrued liabilities<\/td>\n <\/td>\n          12,589<\/td>\n <\/td>\n          12,670<\/td>\n<\/tr>\n
Total cur\u00adrent liabilities<\/strong><\/td>\n <\/td>\n          27,462 <\/strong><\/td>\n <\/td>\n          24,754 <\/strong><\/td>\n<\/tr>\n
Debt<\/strong><\/td>\n <\/td>\n          33,510 <\/strong><\/td>\n <\/td>\n          33,897 <\/strong><\/td>\n<\/tr>\n
Con\u00adtract liabilities <\/strong><\/td>\n <\/td>\n               185 <\/strong><\/td>\n <\/td>\n            1,367 <\/strong><\/td>\n<\/tr>\n
Inco\u00adme taxes payable<\/strong><\/td>\n <\/td>\n            4,305 <\/strong><\/td>\n <\/td>\n            4,578 <\/strong><\/td>\n<\/tr>\n
Defer\u00adred inco\u00adme taxes<\/strong><\/td>\n <\/td>\n            2,667 <\/strong><\/td>\n <\/td>\n            3,843 <\/strong><\/td>\n<\/tr>\n
Other long-term liabilities<\/strong><\/td>\n <\/td>\n            4,886 <\/strong><\/td>\n <\/td>\n            3,614 <\/strong><\/td>\n<\/tr>\n
Stock\u00adhol\u00adders\u2019 equity<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Com\u00admon stock, $0.001 par value, 10,000 shares aut\u00adho\u00adri\u00adzed; 4,070 shares issued and out\u00adstan\u00adding (4,062 issued and out\u00adstan\u00adding in 2020) and capi\u00adtal in excess of par value<\/td>\n <\/td>\n          28,006<\/td>\n <\/td>\n          25,556<\/td>\n<\/tr>\n
Accu\u00admu\u00adla\u00adted other com\u00adpre\u00adhen\u00adsi\u00adve inco\u00adme (loss)<\/td>\n <\/td>\n              (880)<\/td>\n <\/td>\n              (751)<\/td>\n<\/tr>\n
Retai\u00adned earnings<\/td>\n <\/td>\n          68,265<\/td>\n <\/td>\n          56,233<\/td>\n<\/tr>\n
Total stock\u00adhol\u00adders\u2019 equity<\/strong><\/td>\n <\/td>\n          95,391 <\/strong><\/td>\n <\/td>\n          81,038 <\/strong><\/td>\n<\/tr>\n
Total lia\u00adbi\u00adli\u00adties and stock\u00adhol\u00adders\u2019 equity<\/strong><\/td>\n <\/td>\n$       168,406 <\/strong><\/td>\n <\/td>\n$       153,091 <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Con\u00adso\u00adli\u00adda\u00adted Con\u00adden\u00adsed State\u00adments of Cash Flows<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nTwel\u00adve Months Ended<\/strong><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons; unaudited)<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cash and cash equi\u00adva\u00adlents, begin\u00adning of period<\/strong><\/td>\n <\/td>\n$          5,865 <\/strong><\/td>\n <\/td>\n$          4,194 <\/strong><\/td>\n<\/tr>\n
Cash flows pro\u00advi\u00added by (used for) ope\u00adra\u00adting activities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Net inco\u00adme<\/td>\n <\/td>\n          19,868<\/td>\n <\/td>\n          20,899<\/td>\n<\/tr>\n
Adjus\u00adt\u00adments to recon\u00adci\u00adle net inco\u00adme to net cash pro\u00advi\u00added by ope\u00adra\u00adting activities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Depre\u00adcia\u00adti\u00adon<\/td>\n <\/td>\n            9,953<\/td>\n <\/td>\n          10,482<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n            2,036<\/td>\n <\/td>\n            1,854<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n            2,626<\/td>\n <\/td>\n               198<\/td>\n<\/tr>\n
Amor\u00adtiza\u00adti\u00adon of intangibles<\/td>\n <\/td>\n            1,839<\/td>\n <\/td>\n            1,757<\/td>\n<\/tr>\n
(Gains) los\u00adses on equi\u00adty invest\u00adments, net<\/td>\n <\/td>\n           (1,458)<\/td>\n <\/td>\n           (1,757)<\/td>\n<\/tr>\n
Chan\u00adges in assets and liabilities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Accounts receiva\u00adble<\/td>\n <\/td>\n           (2,674)<\/td>\n <\/td>\n               883<\/td>\n<\/tr>\n
Invent\u00adories<\/td>\n <\/td>\n           (2,339)<\/td>\n <\/td>\n              (687)<\/td>\n<\/tr>\n
Accounts paya\u00adble<\/td>\n <\/td>\n            1,190<\/td>\n <\/td>\n               405<\/td>\n<\/tr>\n
Accrued com\u00adpen\u00adsa\u00adti\u00adon and benefits<\/td>\n <\/td>\n               515<\/td>\n <\/td>\n               348<\/td>\n<\/tr>\n
Pre\u00adpaid sup\u00adp\u00adly agreements<\/td>\n <\/td>\n           (1,583)<\/td>\n <\/td>\n              (181)<\/td>\n<\/tr>\n
Inco\u00adme taxes<\/td>\n <\/td>\n              (441)<\/td>\n <\/td>\n            1,620<\/td>\n<\/tr>\n
Other assets and liabilities<\/td>\n <\/td>\n               459<\/td>\n <\/td>\n              (437)<\/td>\n<\/tr>\n
Total adjus\u00adt\u00adments<\/strong><\/td>\n <\/td>\n          10,123 <\/strong><\/td>\n <\/td>\n          14,485 <\/strong><\/td>\n<\/tr>\n
Net cash pro\u00advi\u00added by ope\u00adra\u00adting activities<\/strong><\/td>\n <\/td>\n          29,991 <\/strong><\/td>\n <\/td>\n          35,384 <\/strong><\/td>\n<\/tr>\n
Cash flows pro\u00advi\u00added by (used for) inves\u00adt\u00ading activities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equipment<\/td>\n <\/td>\n         (18,733)<\/td>\n <\/td>\n         (14,259)<\/td>\n<\/tr>\n
Addi\u00adti\u00adons to held for sale NAND<\/span> pro\u00adper\u00adty, plant and equipment<\/td>\n <\/td>\n           (1,596)<\/td>\n <\/td>\n              (194)<\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adons, net of cash acquired<\/td>\n <\/td>\n              (209)<\/td>\n <\/td>\n              (837)<\/td>\n<\/tr>\n
Purcha\u00adses of available-for-sale debt investments<\/td>\n <\/td>\n           (5,051)<\/td>\n <\/td>\n           (6,862)<\/td>\n<\/tr>\n
Matu\u00adri\u00adties and sales of available-for-sale debt investments<\/td>\n <\/td>\n            6,467<\/td>\n <\/td>\n            6,781<\/td>\n<\/tr>\n
Purcha\u00adses of tra\u00adding assets<\/td>\n <\/td>\n         (35,503)<\/td>\n <\/td>\n         (22,377)<\/td>\n<\/tr>\n
Matu\u00adri\u00adties and sales of tra\u00adding assets<\/td>\n <\/td>\n          28,832<\/td>\n <\/td>\n          15,377<\/td>\n<\/tr>\n
Purcha\u00adses of equi\u00adty investments<\/td>\n <\/td>\n              (613)<\/td>\n <\/td>\n              (720)<\/td>\n<\/tr>\n
Sales of equi\u00adty investments<\/td>\n <\/td>\n               581<\/td>\n <\/td>\n               910<\/td>\n<\/tr>\n
Other inves\u00adt\u00ading<\/td>\n <\/td>\n               658<\/td>\n <\/td>\n            1,385<\/td>\n<\/tr>\n
Net cash used for inves\u00adt\u00ading activities<\/strong><\/td>\n <\/td>\n         (25,167)<\/strong><\/td>\n <\/td>\n         (20,796)<\/strong><\/td>\n<\/tr>\n
Cash flows pro\u00advi\u00added by (used for) finan\u00adcing activities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Issu\u00adan\u00adce of long-term debt, net of issu\u00adan\u00adce costs<\/td>\n <\/td>\n            4,974<\/td>\n <\/td>\n          10,247<\/td>\n<\/tr>\n
Repay\u00adment of debt and debt conversion<\/td>\n <\/td>\n           (2,500)<\/td>\n <\/td>\n           (4,525)<\/td>\n<\/tr>\n
Pro\u00adceeds from sales of com\u00admon stock through employee equi\u00adty incen\u00adti\u00adve plans<\/td>\n <\/td>\n            1,020<\/td>\n <\/td>\n               897<\/td>\n<\/tr>\n
Repurcha\u00adse of com\u00admon stock<\/td>\n <\/td>\n           (2,415)<\/td>\n <\/td>\n         (14,229)<\/td>\n<\/tr>\n
Pay\u00adment of divi\u00addends to stockholders<\/td>\n <\/td>\n           (5,644)<\/td>\n <\/td>\n           (5,568)<\/td>\n<\/tr>\n
Other finan\u00adcing<\/td>\n <\/td>\n           (1,297)<\/td>\n <\/td>\n               261<\/td>\n<\/tr>\n
Net cash pro\u00advi\u00added by (used for) finan\u00adcing activities<\/strong><\/td>\n <\/td>\n           (5,862)<\/strong><\/td>\n <\/td>\n         (12,917)<\/strong><\/td>\n<\/tr>\n
Net increase (decrease) in cash and cash equivalents<\/strong><\/td>\n <\/td>\n           (1,038)<\/strong><\/td>\n <\/td>\n            1,671 <\/strong><\/td>\n<\/tr>\n
Cash and cash equi\u00adva\u00adlents, end of period<\/strong><\/td>\n <\/td>\n$          4,827 <\/strong><\/td>\n <\/td>\n$          5,865 <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Sup\u00adple\u00admen\u00adtal Ope\u00adra\u00adting Seg\u00adment Results<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/td>\n <\/td>\nTwel\u00adve Months Ended<\/strong><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons)<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n<\/tr>\n
Net reve\u00adnue<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cli\u00adent Com\u00adpu\u00adting Group<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Plat\u00adform<\/td>\n <\/td>\n$         9,408<\/td>\n <\/td>\n$         9,939<\/td>\n <\/td>\n$        37,376<\/td>\n <\/td>\n$        35,642<\/td>\n<\/tr>\n
Adja\u00adcent<\/td>\n <\/td>\n              725<\/td>\n <\/td>\n           1,000<\/td>\n <\/td>\n           3,135<\/td>\n <\/td>\n           4,415<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n         10,133 <\/strong><\/td>\n <\/td>\n         10,939 <\/strong><\/td>\n <\/td>\n         40,511 <\/strong><\/td>\n <\/td>\n         40,057 <\/strong><\/td>\n<\/tr>\n
Data Cen\u00adter Group<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Plat\u00adform<\/td>\n <\/td>\n           6,442<\/td>\n <\/td>\n           5,297<\/td>\n <\/td>\n$        22,703<\/td>\n <\/td>\n$        23,056<\/td>\n<\/tr>\n
Adja\u00adcent<\/td>\n <\/td>\n              864<\/td>\n <\/td>\n              791<\/td>\n <\/td>\n           3,118<\/td>\n <\/td>\n           3,047<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n           7,306 <\/strong><\/td>\n <\/td>\n           6,088 <\/strong><\/td>\n <\/td>\n         25,821 <\/strong><\/td>\n <\/td>\n         26,103 <\/strong><\/td>\n<\/tr>\n
Inter\u00adnet of Things<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
IOTG<\/span><\/td>\n <\/td>\n           1,058<\/td>\n <\/td>\n              777<\/td>\n <\/td>\n           3,998<\/td>\n <\/td>\n           3,007<\/td>\n<\/tr>\n
Mobi\u00adleye<\/td>\n <\/td>\n              356<\/td>\n <\/td>\n              333<\/td>\n <\/td>\n           1,386<\/td>\n <\/td>\n              967<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n           1,414 <\/strong><\/td>\n <\/td>\n           1,110 <\/strong><\/td>\n <\/td>\n           5,384 <\/strong><\/td>\n <\/td>\n           3,974 <\/strong><\/td>\n<\/tr>\n
Non-Vola\u00adti\u00adle Memo\u00adry Solu\u00adti\u00adons Group<\/strong><\/td>\n <\/td>\n              996 <\/strong><\/td>\n <\/td>\n           1,208 <\/strong><\/td>\n <\/td>\n           4,306 <\/strong><\/td>\n <\/td>\n           5,358 <\/strong><\/td>\n<\/tr>\n
Pro\u00adgramma\u00adble Solu\u00adti\u00adons Group<\/strong><\/td>\n <\/td>\n              484 <\/strong><\/td>\n <\/td>\n              422 <\/strong><\/td>\n <\/td>\n           1,934 <\/strong><\/td>\n <\/td>\n           1,853 <\/strong><\/td>\n<\/tr>\n
All other<\/strong><\/td>\n <\/td>\n              195 <\/strong><\/td>\n <\/td>\n              211 <\/strong><\/td>\n <\/td>\n           1,068 <\/strong><\/td>\n <\/td>\n              522 <\/strong><\/td>\n<\/tr>\n
Total net revenue<\/strong><\/td>\n <\/td>\n$        20,528 <\/strong><\/td>\n <\/td>\n$        19,978 <\/strong><\/td>\n <\/td>\n$        79,024 <\/strong><\/td>\n <\/td>\n$        77,867 <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Ope\u00adra\u00adting inco\u00adme (loss)<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cli\u00adent Com\u00adpu\u00adting Group<\/strong><\/td>\n <\/td>\n$         3,475 <\/strong><\/td>\n <\/td>\n$         4,508 <\/strong><\/td>\n <\/td>\n$        14,672 <\/strong><\/td>\n <\/td>\n$        15,129 <\/strong><\/td>\n<\/tr>\n
Data Cen\u00adter Group<\/strong><\/td>\n <\/td>\n           1,726 <\/strong><\/td>\n <\/td>\n           2,077 <\/strong><\/td>\n <\/td>\n$         6,997 <\/strong><\/td>\n <\/td>\n$        10,571 <\/strong><\/td>\n<\/tr>\n
Inter\u00adnet of Things<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
IOTG<\/span><\/td>\n <\/td>\n              270<\/td>\n <\/td>\n              123<\/td>\n <\/td>\n           1,045<\/td>\n <\/td>\n              497<\/td>\n<\/tr>\n
Mobi\u00adleye<\/td>\n <\/td>\n               99<\/td>\n <\/td>\n              110<\/td>\n <\/td>\n              460<\/td>\n <\/td>\n              241<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n              369 <\/strong><\/td>\n <\/td>\n              233 <\/strong><\/td>\n <\/td>\n           1,505 <\/strong><\/td>\n <\/td>\n              738 <\/strong><\/td>\n<\/tr>\n
Non-Vola\u00adti\u00adle Memo\u00adry Solu\u00adti\u00adons Group<\/strong><\/td>\n <\/td>\n              354 <\/strong><\/td>\n <\/td>\n               76 <\/strong><\/td>\n <\/td>\n           1,369 <\/strong><\/td>\n <\/td>\n              361 <\/strong><\/td>\n<\/tr>\n
Pro\u00adgramma\u00adble Solu\u00adti\u00adons Group<\/strong><\/td>\n <\/td>\n               51 <\/strong><\/td>\n <\/td>\n               43 <\/strong><\/td>\n <\/td>\n              297 <\/strong><\/td>\n <\/td>\n              260 <\/strong><\/td>\n<\/tr>\n
All other<\/strong><\/td>\n <\/td>\n             (986)<\/strong><\/td>\n <\/td>\n          (1,053)<\/strong><\/td>\n <\/td>\n          (5,384)<\/strong><\/td>\n <\/td>\n          (3,381)<\/strong><\/td>\n<\/tr>\n
Total ope\u00adra\u00adting income<\/strong><\/td>\n <\/td>\n$         4,989 <\/strong><\/td>\n <\/td>\n$         5,884 <\/strong><\/td>\n <\/td>\n$        19,456 <\/strong><\/td>\n <\/td>\n$        23,678 <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

We deri\u00adve a sub\u00adstan\u00adti\u00adal majo\u00adri\u00adty of our reve\u00adnue from plat\u00adform pro\u00adducts, which are our prin\u00adci\u00adpal pro\u00adducts and con\u00adside\u00adred as one pro\u00adduct class. We offer plat\u00adform pro\u00adducts that incor\u00adpo\u00adra\u00adte various com\u00adpon\u00adents and tech\u00adno\u00adlo\u00adgies, inclu\u00adding a micro\u00adpro\u00adces\u00adsor and chip\u00adset, a stand-alo\u00adne SoC, or a mul\u00adti\u00adchip packa\u00adge based on Intel archi\u00adtec\u00adtu\u00adre. Plat\u00adform pro\u00adducts are used in various form fac\u00adtors across our CCG<\/span>, DCG<\/span>, and IOTG<\/span> ope\u00adra\u00adting seg\u00adments. Our non-plat\u00adform, or adja\u00adcent pro\u00adducts, can be com\u00adbi\u00adned with plat\u00adform pro\u00adducts to form com\u00adpre\u00adhen\u00adsi\u00adve plat\u00adform solu\u00adti\u00adons to meet cus\u00adto\u00admer needs.<\/p>\n

Reve\u00adnue for our repor\u00adta\u00adble and non-repor\u00adta\u00adble ope\u00adra\u00adting seg\u00adments is pri\u00adma\u00adri\u00adly rela\u00adted to the fol\u00adlo\u00adwing pro\u00adduct lines:<\/p>\n

\u25aa       CCG<\/span> includes plat\u00adforms desi\u00adgned for end-user form fac\u00adtors, focu\u00adsing on hig\u00adher growth seg\u00adments of 2\u2011in\u20111, thin-and-light, com\u00admer\u00adcial and gam\u00ading, and gro\u00adwing adja\u00adcen\u00adci\u00ades such as con\u00adnec\u00adti\u00advi\u00adty and graphics.<\/p>\n

\u25aa       DCG<\/span> includes workload-opti\u00admi\u00adzed plat\u00adforms and rela\u00adted pro\u00adducts desi\u00adgned for cloud ser\u00advice pro\u00advi\u00adders, enter\u00adpri\u00adse and govern\u00adment, and com\u00admu\u00adni\u00adca\u00adti\u00adons ser\u00advice pro\u00advi\u00adders mar\u00adket seg\u00adments. In 2021, the DCG<\/span> ope\u00adra\u00adting seg\u00adment includes the results of our Intel\u00ae Opta\u00adne\u2122 memo\u00adry business.<\/p>\n

\u25aa       IOTG<\/span> includes high-per\u00adfor\u00admance com\u00adpu\u00adte solu\u00adti\u00adons for tar\u00adge\u00adted ver\u00adti\u00adcals and embedded appli\u00adca\u00adti\u00adons in mar\u00adket seg\u00adments such as retail, indus\u00adtri\u00adal, health\u00adca\u00adre, and vision. <\/p>\n

\u25aa       Mobi\u00adleye includes com\u00adpre\u00adhen\u00adsi\u00adve solu\u00adti\u00adons requi\u00adred for auto\u00adno\u00admous dri\u00adving, inclu\u00adding com\u00adpu\u00adte plat\u00adforms, com\u00adpu\u00adter visi\u00adon, and machi\u00adne lear\u00adning-based sens\u00ading, map\u00adping and loca\u00adliza\u00adti\u00adon, dri\u00adving poli\u00adcy, and acti\u00adve sen\u00adsors in deve\u00adlo\u00adp\u00adment, uti\u00adli\u00adzed for both Robo\u00adta\u00adxi and con\u00adsu\u00admer level autonomy.<\/p>\n

\u25aa       NSG<\/span> includes memo\u00adry and sto\u00adrage pro\u00adducts like Intel 3D<\/span> NAND<\/span> tech\u00adno\u00adlo\u00adgy, pri\u00adma\u00adri\u00adly used in SSDs. In 2021, the NSG<\/span> ope\u00adra\u00adting seg\u00adment no lon\u00adger includes the results of our Intel Opta\u00adne memo\u00adry business.<\/p>\n

\u25aa       PSG<\/span> includes pro\u00adgramma\u00adble semi\u00adcon\u00adduc\u00adtors, pri\u00adma\u00adri\u00adly FPGAs and struc\u00adtu\u00adred ASICs, and rela\u00adted pro\u00adducts for com\u00admu\u00adni\u00adca\u00adti\u00adons, cloud and enter\u00adpri\u00adse, and embedded mar\u00adket segments.<\/p>\n

We have sales and mar\u00adke\u00adting, manu\u00adfac\u00adtu\u00adring, engi\u00adnee\u00adring, finan\u00adce, and admi\u00adnis\u00adtra\u00adti\u00adon groups. Expen\u00adses for the\u00adse groups are gene\u00adral\u00adly allo\u00adca\u00adted to the ope\u00adra\u00adting segments.<\/p>\n

We have an \u201call other\u201d cate\u00adgo\u00adry that includes reve\u00adnue, expen\u00adses, and char\u00adges such as:<\/p>\n

\u25aa       results of ope\u00adra\u00adti\u00adons from non-repor\u00adta\u00adble seg\u00adments not other\u00adwi\u00adse presented;<\/p>\n

\u25aa       his\u00adto\u00adri\u00adcal results of ope\u00adra\u00adti\u00adons from dive\u00ads\u00adted businesses;<\/p>\n

\u25aa       results of ope\u00adra\u00adti\u00adons of start-up busi\u00adnesses that sup\u00adport our initia\u00adti\u00adves, inclu\u00adding our foundry business;<\/p>\n

\u25aa       amounts included within res\u00adtruc\u00adtu\u00adring and other charges;<\/p>\n

\u25aa       a por\u00adti\u00adon of employee bene\u00adfits, com\u00adpen\u00adsa\u00adti\u00adon, and other expen\u00adses not allo\u00adca\u00adted to the ope\u00adra\u00adting seg\u00adments; and<\/p>\n

\u25aa       acqui\u00adsi\u00adti\u00adon-rela\u00adted cos\u00adts, inclu\u00adding amor\u00adtiza\u00adti\u00adon and any impair\u00adment of acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adbles and goodwill.<\/p>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Sup\u00adple\u00admen\u00adtal Plat\u00adform Reve\u00adnue Information<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nQ4<\/span> 2021<\/strong><\/td>\n <\/td>\nQ4<\/span> 2021<\/strong><\/td>\n <\/td>\nYTD<\/span> 2021<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\ncom\u00adpared to <\/strong>\n

Q3<\/span> 2021<\/strong><\/p><\/td>\n

 <\/td>\ncom\u00adpared to <\/strong>\n

Q4<\/span> 2020<\/strong><\/p><\/td>\n

 <\/td>\ncom\u00adpared to <\/strong>\n

YTD<\/span> 2020<\/strong><\/p><\/td>\n<\/tr>\n

Cli\u00adent Com\u00adpu\u00adting Group<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Desk\u00adtop plat\u00adform volumes<\/td>\n <\/td>\n15%<\/td>\n <\/td>\n7%<\/td>\n <\/td>\n8%<\/td>\n<\/tr>\n
Desk\u00adtop plat\u00adform avera\u00adge sel\u00adling prices<\/td>\n <\/td>\n4%<\/td>\n <\/td>\n11%<\/td>\n <\/td>\n3%<\/td>\n<\/tr>\n
Note\u00adbook plat\u00adform volumes<\/td>\n <\/td>\n4%<\/td>\n <\/td>\n(26)%<\/td>\n <\/td>\n8%<\/td>\n<\/tr>\n
Note\u00adbook plat\u00adform avera\u00adge sel\u00adling prices<\/td>\n <\/td>\n(6)%<\/td>\n <\/td>\n14%<\/td>\n <\/td>\n(6)%<\/td>\n<\/tr>\n
Adja\u00adcent revenue<\/td>\n <\/td>\n2%<\/td>\n <\/td>\n(28)%<\/td>\n <\/td>\n(29)%<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Data Cen\u00adter Group<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Plat\u00adform volumes<\/td>\n <\/td>\n8%<\/td>\n <\/td>\n17%<\/td>\n <\/td>\n2%<\/td>\n<\/tr>\n
Plat\u00adform avera\u00adge sel\u00adling prices<\/td>\n <\/td>\n3%<\/td>\n <\/td>\n4%<\/td>\n <\/td>\n(4)%<\/td>\n<\/tr>\n
Adja\u00adcent revenue<\/td>\n <\/td>\n15%<\/td>\n <\/td>\n9%<\/td>\n <\/td>\n2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Expl\u00adana\u00adti\u00adon of Non-GAAP Measures<\/p>\n

In addi\u00adti\u00adon to dis\u00adclo\u00adsing finan\u00adcial results in accordance with US<\/span> GAAP<\/span>, this docu\u00adment con\u00adta\u00adins refe\u00adren\u00adces to the non-GAAP finan\u00adcial mea\u00adsu\u00adres below. We belie\u00adve the\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres pro\u00advi\u00adde inves\u00adtors with useful sup\u00adple\u00admen\u00adtal infor\u00adma\u00adti\u00adon about our ope\u00adra\u00adting per\u00adfor\u00admance, enable com\u00adpa\u00adri\u00adson of finan\u00adcial trends and results bet\u00adween peri\u00adods whe\u00adre cer\u00adtain items may vary inde\u00adpen\u00addent of busi\u00adness per\u00adfor\u00admance, and allow for grea\u00adter trans\u00adpa\u00adren\u00adcy with respect to key metrics used by manage\u00adment in ope\u00adra\u00adting our busi\u00adness and mea\u00adsu\u00adring our per\u00adfor\u00admance. Cer\u00adtain of the\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres are used in our per\u00adfor\u00admance-based RSUs and our annu\u00adal cash bonus plan.<\/p>\n

Our non-GAAP finan\u00adcial mea\u00adsu\u00adres reflect adjus\u00adt\u00adments based on one or more of the fol\u00adlo\u00adwing items, as well as the rela\u00adted inco\u00adme tax effects whe\u00adre appli\u00adca\u00adble. Inco\u00adme tax effects have been cal\u00adcu\u00adla\u00adted using an appro\u00adpria\u00adte tax rate for each adjus\u00adt\u00adment. The\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres should not be con\u00adside\u00adred a sub\u00adsti\u00adtu\u00adte for, or supe\u00adri\u00ador to, finan\u00adcial mea\u00adsu\u00adres cal\u00adcu\u00adla\u00adted in accordance with US<\/span> GAAP<\/span>, and the finan\u00adcial results cal\u00adcu\u00adla\u00adted in accordance with US<\/span> GAAP<\/span> and recon\u00adci\u00adlia\u00adti\u00adons from the\u00adse results should be careful\u00adly evaluated.<\/p>\n\n\n\n\n\n\n\n\n\n\n
Non-GAAP adjus\u00adt\u00adment or measure<\/strong><\/td>\nDefi\u00adni\u00adti\u00adon <\/strong><\/td>\nUseful\u00adness to manage\u00adment and investors<\/strong><\/td>\n<\/tr>\n<\/thead>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\nAmor\u00adtiza\u00adti\u00adon of acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adble assets con\u00adsists of amor\u00adtiza\u00adti\u00adon of intan\u00adgi\u00adble assets such as deve\u00adlo\u00adped tech\u00adno\u00adlo\u00adgy, brands, and cus\u00adto\u00admer rela\u00adti\u00adonships acqui\u00adred in con\u00adnec\u00adtion with busi\u00adness com\u00adbi\u00adna\u00adti\u00adons. Char\u00adges rela\u00adted to the amor\u00adtiza\u00adti\u00adon of the\u00adse intan\u00adgi\u00adbles are recor\u00added within both cost of sales and MG<\/span>&<\/span>A in our US<\/span> GAAP<\/span> finan\u00adcial state\u00adments. Amor\u00adtiza\u00adti\u00adon char\u00adges are recor\u00added over the esti\u00adma\u00adted useful life of the rela\u00adted acqui\u00adred intan\u00adgi\u00adble asset, and thus are gene\u00adral\u00adly recor\u00added over mul\u00adti\u00adple years.<\/td>\nWe exclude amor\u00adtiza\u00adti\u00adon char\u00adges for our acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adble assets for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse the\u00adse char\u00adges are incon\u00adsis\u00adtent in size and are signi\u00adfi\u00adcant\u00adly impac\u00adted by the timing and valua\u00adti\u00adon of our acqui\u00adsi\u00adti\u00adons. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adson to our past ope\u00adra\u00adting per\u00adfor\u00admance and pro\u00advi\u00adde inves\u00adtors with addi\u00adtio\u00adnal means to eva\u00adlua\u00adte cost and expen\u00adse trends.<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\nRes\u00adtruc\u00adtu\u00adring char\u00adges are cos\u00adts asso\u00adcia\u00adted with a for\u00admal res\u00adtruc\u00adtu\u00adring plan and are pri\u00adma\u00adri\u00adly rela\u00adted to employee sever\u00adance and bene\u00adfit arran\u00adge\u00adments. Other char\u00adges include a char\u00adge rela\u00adted to the VLSI<\/span> liti\u00adga\u00adti\u00adon, good\u00adwill and asset impairm\u00adents, pen\u00adsi\u00adon char\u00adges, and cos\u00adts asso\u00adcia\u00adted with res\u00adtruc\u00adtu\u00adring activity.<\/td>\nWe exclude res\u00adtruc\u00adtu\u00adring and other char\u00adges, inclu\u00adding any adjus\u00adt\u00adments to char\u00adges recor\u00added in pri\u00ador peri\u00adods, for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse the\u00adse cos\u00adts do not reflect our core ope\u00adra\u00adting per\u00adfor\u00admance. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our core ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results and pro\u00advi\u00adde inves\u00adtors with addi\u00adtio\u00adnal means to eva\u00adlua\u00adte expen\u00adse trends.<\/td>\n<\/tr>\n
(Gains) los\u00adses from divestiture<\/td>\nGains or los\u00adses are reco\u00adgni\u00adzed in con\u00adnec\u00adtion with a divestiture.<\/td>\nWe exclude gains or los\u00adses resul\u00adting from dives\u00adti\u00adtures for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse they do not reflect our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results.<\/td>\n<\/tr>\n
Ongo\u00ading mark-to-mar\u00adket on mar\u00adke\u00adta\u00adble equi\u00adty securities<\/td>\nAfter the initi\u00adal mark-to-mar\u00adket adjus\u00adt\u00adment is recor\u00added upon a secu\u00adri\u00adty beco\u00adming mar\u00adke\u00adta\u00adble, gains and los\u00adses are reco\u00adgni\u00adzed from ongo\u00ading mark-to-mar\u00adket adjus\u00adt\u00adments of our mar\u00adke\u00adta\u00adble equi\u00adty securities.<\/td>\nWe exclude the\u00adse ongo\u00ading gains and los\u00adses for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse we do not belie\u00adve this vola\u00adti\u00adli\u00adty cor\u00adre\u00adla\u00adtes to our core ope\u00adra\u00adtio\u00adnal per\u00adfor\u00admance. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results.<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\nOur NAND<\/span> memo\u00adry busi\u00adness is sub\u00adject to a pen\u00adding sale to SK<\/span> hynix, as announ\u00adced in Octo\u00adber 2020. While the second clo\u00adsing of the sale is still pen\u00adding, we com\u00adple\u00adted the first clo\u00adsing on Decem\u00adber 29, 2021, sub\u00adse\u00adquent to our fis\u00adcal 2021 year-end. We will ful\u00adly decon\u00adso\u00adli\u00adda\u00adte our ongo\u00ading inte\u00adrests in the NAND<\/span> OpCo Busi\u00adness in the first quar\u00adter of 2022.<\/td>\nWe exclude the impact of our NAND<\/span> memo\u00adry busi\u00adness in cer\u00adtain non-GAAP mea\u00adsu\u00adres. While the second clo\u00adsing of the sale is still pen\u00adding and sub\u00adject to clo\u00adsing con\u00addi\u00adti\u00adons, manage\u00adment does not curr\u00adent\u00adly view the busi\u00adness as part of the company\u2019s core ope\u00adra\u00adti\u00adons or its long-term stra\u00adte\u00adgic direc\u00adtion. We belie\u00adve the\u00adse adjus\u00adt\u00adments pro\u00advi\u00adde inves\u00adtors with a useful view, through the eyes of manage\u00adment, of the company\u2019s core busi\u00adness model and how manage\u00adment curr\u00adent\u00adly eva\u00adlua\u00adtes core ope\u00adra\u00adtio\u00adnal per\u00adfor\u00admance. We belie\u00adve they also pro\u00advi\u00adde inves\u00adtors with an addi\u00adtio\u00adnal means to under\u00adstand the poten\u00adti\u00adal impact of the dives\u00adti\u00adtu\u00adre over time. In making the\u00adse adjus\u00adt\u00adments, we have not made any chan\u00adges to our methods for mea\u00adsu\u00adring and cal\u00adcu\u00adla\u00adting reve\u00adnue or other finan\u00adcial state\u00adment amounts.<\/td>\n<\/tr>\n
Free cash flow<\/td>\nWe refe\u00adrence a non-GAAP finan\u00adcial mea\u00adsu\u00adre of free cash flow, which is used by manage\u00adment when asses\u00adsing our sources of liqui\u00addi\u00adty, capi\u00adtal resour\u00adces, and qua\u00adli\u00adty of ear\u00adnings. Free cash flow is ope\u00adra\u00adting cash flow adjus\u00adted to exclude addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equipment.<\/td>\nThis non-GAAP finan\u00adcial mea\u00adsu\u00adre is hel\u00adpful in under\u00adstan\u00adding our capi\u00adtal requi\u00adre\u00adments and pro\u00advi\u00addes an addi\u00adtio\u00adnal means to eva\u00adlua\u00adte the cash flow trends of our busi\u00adness. We exclude addi\u00adti\u00adons to held for sale NAND<\/span> pro\u00adper\u00adty, plant and equip\u00adment becau\u00adse the addi\u00adti\u00adons are not repre\u00adsen\u00adta\u00adti\u00adve of our long-term capi\u00adtal requi\u00adre\u00adments and the\u00adse assets were sold upon the first clo\u00adsing of the tran\u00adsac\u00adtion that occur\u00adred on Decem\u00adber 29, 2021, sub\u00adse\u00adquent to our fis\u00adcal 2021 year-end.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The GAAP<\/span> Out\u00adlook to Non-GAAP Out\u00adlook recon\u00adci\u00adlia\u00adti\u00adons incre\u00admen\u00adtal\u00adly include the below adjus\u00adt\u00adments. As announ\u00adced in our Q3<\/span> ear\u00adnings call, start\u00ading in 2022, we will be exclu\u00adding from our non-GAAP results, share-based com\u00adpen\u00adsa\u00adti\u00adon and all gains and los\u00adses on equi\u00adty invest\u00adments. The adjus\u00adt\u00adment for all gains and los\u00adses on equi\u00adty invest\u00adments includes the ongo\u00ading mark-to-mar\u00adket adjus\u00adt\u00adments pre\u00advious\u00adly excluded from our non-GAAP results.<\/p>\n\n\n\n\n\n\n
Non-GAAP adjus\u00adt\u00adment or measure<\/strong><\/td>\nDefi\u00adni\u00adti\u00adon <\/strong><\/td>\nUseful\u00adness to manage\u00adment and investors<\/strong><\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\nShare-based com\u00adpen\u00adsa\u00adti\u00adon con\u00adsists of char\u00adges rela\u00adted to our employee equi\u00adty incen\u00adti\u00adve plans.<\/td>\nWe exclude char\u00adges rela\u00adted to share-based com\u00adpen\u00adsa\u00adti\u00adon for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse we belie\u00adve the\u00adse adjus\u00adt\u00adments pro\u00advi\u00adde bet\u00adter com\u00adpa\u00adra\u00adbi\u00adli\u00adty to peer com\u00adpa\u00adny results and becau\u00adse the\u00adse char\u00adges are not view\u00aded by manage\u00adment as part of our core ope\u00adra\u00adting per\u00adfor\u00admance. We belie\u00adve the\u00adse adjus\u00adt\u00adments pro\u00advi\u00adde inves\u00adtors with a useful view, through the eyes of manage\u00adment, of the company\u2019s core busi\u00adness model, how manage\u00adment curr\u00adent\u00adly eva\u00adlua\u00adtes core ope\u00adra\u00adtio\u00adnal per\u00adfor\u00admance, and addi\u00adtio\u00adnal means to eva\u00adlua\u00adte expen\u00adse trends, inclu\u00adding in com\u00adpa\u00adri\u00adson to other peer companies.<\/td>\n<\/tr>\n
(Gains) los\u00adses on equi\u00adty invest\u00adments, net<\/td>\n(Gains) los\u00adses on equi\u00adty invest\u00adments, net con\u00adsists of ongo\u00ading mark-to-mar\u00adket adjus\u00adt\u00adments on mar\u00adke\u00adta\u00adble equi\u00adty secu\u00adri\u00adties, obser\u00adva\u00adble pri\u00adce adjus\u00adt\u00adments on non-mar\u00adke\u00adta\u00adble equi\u00adty secu\u00adri\u00adties, impair\u00adment char\u00adges, and sale of equi\u00adty invest\u00adments and other.<\/td>\nWe exclude the\u00adse non-ope\u00adra\u00adting ear\u00adnings for bet\u00adter com\u00adpa\u00adra\u00adbi\u00adli\u00adty bet\u00adween peri\u00adods. The exclu\u00adsi\u00adon reflects how manage\u00adment eva\u00adlua\u00adtes the core ope\u00adra\u00adti\u00adons of the business.<\/td>\n<\/tr>\n
(Gains) los\u00adses from divestiture<\/td>\nGains or los\u00adses are reco\u00adgni\u00adzed at the clo\u00adse of a dives\u00adti\u00adtu\u00adre, or over a spe\u00adci\u00adfied defer\u00adral peri\u00adod when defer\u00adred con\u00adside\u00adra\u00adti\u00adon is recei\u00adved at the time of clo\u00adsing. Based on our ongo\u00ading obli\u00adga\u00adti\u00adon under the NAND<\/span> wafer manu\u00adfac\u00adtu\u00adring and sale agree\u00adment ente\u00adred into in con\u00adnec\u00adtion with the first clo\u00adsing of the sale of our NAND<\/span> memo\u00adry busi\u00adness on Decem\u00adber 29, 2021, a por\u00adti\u00adon of the initi\u00adal clo\u00adsing con\u00adside\u00adra\u00adti\u00adon will be defer\u00adred and reco\u00adgni\u00adzed bet\u00adween first and second closing. <\/td>\nWe exclude gains or los\u00adses resul\u00adting from dives\u00adti\u00adtures for pur\u00adpo\u00adses of cal\u00adcu\u00adla\u00adting cer\u00adtain non-GAAP mea\u00adsu\u00adres becau\u00adse they do not reflect our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance. The\u00adse adjus\u00adt\u00adments faci\u00adli\u00adta\u00adte a useful eva\u00adlua\u00adti\u00adon of our cur\u00adrent ope\u00adra\u00adting per\u00adfor\u00admance and com\u00adpa\u00adri\u00adsons to past ope\u00adra\u00adting results.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Sup\u00adple\u00admen\u00adtal Recon\u00adci\u00adlia\u00adti\u00adons of GAAP<\/span> Actu\u00adals to Non-GAAP Actuals<\/p>\n

Set forth below are recon\u00adci\u00adlia\u00adti\u00adons of the non-GAAP finan\u00adcial mea\u00adsu\u00adre to the most direct\u00adly com\u00adpa\u00adra\u00adble U.S. GAAP<\/span> finan\u00adcial mea\u00adsu\u00adre. The\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres should not be con\u00adside\u00adred a sub\u00adsti\u00adtu\u00adte for, or supe\u00adri\u00ador to, finan\u00adcial mea\u00adsu\u00adres cal\u00adcu\u00adla\u00adted in accordance with U.S. GAAP<\/span>, and the recon\u00adci\u00adlia\u00adti\u00adons from U.S. GAAP<\/span> to Non-GAAP actu\u00adals should be careful\u00adly eva\u00adlua\u00adted. Plea\u00adse refer to \u201cExpl\u00adana\u00adti\u00adon of Non-GAAP Mea\u00adsu\u00adres\u201d in this docu\u00adment for a detail\u00aded expl\u00adana\u00adti\u00adon of the adjus\u00adt\u00adments made to the com\u00adpa\u00adra\u00adble U.S. GAAP<\/span> mea\u00adsu\u00adres, the ways manage\u00adment uses the non-GAAP mea\u00adsu\u00adres, and the reasons why manage\u00adment belie\u00adves the non-GAAP mea\u00adsu\u00adres pro\u00advi\u00adde useful infor\u00adma\u00adti\u00adon for investors.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nThree Months Ended<\/strong><\/td>\n <\/td>\nTwel\u00adve Months Ended<\/strong><\/td>\n<\/tr>\n<\/thead>\n
(In Mil\u00adli\u00adons, Except Per Share Amounts)<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n<\/tr>\n
GAAP<\/span> net revenue<\/strong><\/td>\n <\/td>\n$     20,528    <\/strong><\/td>\n <\/td>\n$     19,978    <\/strong><\/td>\n <\/td>\n$     79,024   <\/strong><\/td>\n <\/td>\n$     77,867   <\/strong><\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n          (996)  <\/td>\n <\/td>\n        (1,115)  <\/td>\n <\/td>\n       (4,306) <\/td>\n <\/td>\n       (4,967) <\/td>\n<\/tr>\n
Non-GAAP net revenue<\/strong><\/td>\n <\/td>\n$     19,532    <\/strong><\/td>\n <\/td>\n$     18,863    <\/strong><\/td>\n <\/td>\n$     74,718   <\/strong><\/td>\n <\/td>\n$     72,900   <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> gross margin<\/strong><\/td>\n <\/td>\n$     11,009    <\/strong><\/td>\n <\/td>\n$     11,348    <\/strong><\/td>\n <\/td>\n$     43,815   <\/strong><\/td>\n <\/td>\n$     43,612   <\/strong><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n           335 <\/td>\n <\/td>\n           310 <\/td>\n <\/td>\n        1,283  <\/td>\n <\/td>\n        1,211   <\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n          (518)  <\/td>\n <\/td>\n          (338)  <\/td>\n <\/td>\n       (1,995) <\/td>\n <\/td>\n       (1,524) <\/td>\n<\/tr>\n
Non-GAAP gross margin<\/strong><\/td>\n <\/td>\n$     10,826    <\/strong><\/td>\n <\/td>\n$     11,320    <\/strong><\/td>\n <\/td>\n$     43,103   <\/strong><\/td>\n <\/td>\n$     43,299   <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> gross mar\u00adgin percentage<\/strong><\/td>\n <\/td>\n 53.6 %<\/strong><\/td>\n <\/td>\n 56.8 %<\/strong><\/td>\n <\/td>\n 55.4 %<\/strong><\/td>\n <\/td>\n 56.0 %<\/strong><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n1.6 %<\/td>\n <\/td>\n1.6 %<\/td>\n <\/td>\n1.6 %<\/td>\n <\/td>\n1.6 %<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n0.2 %<\/td>\n <\/td>\n1.7 %<\/td>\n <\/td>\n0.6 %<\/td>\n <\/td>\n1.8 %<\/td>\n<\/tr>\n
Non-GAAP gross mar\u00adgin per\u00adcen\u00adta\u00adge1<\/sup><\/strong><\/td>\n <\/td>\n 55.4 %<\/strong><\/td>\n <\/td>\n 60.0 %<\/strong><\/td>\n <\/td>\n 57.7 %<\/strong><\/td>\n <\/td>\n 59.4 %<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> R&<\/span>D and MG<\/span>&<\/span>A<\/strong><\/td>\n <\/td>\n$       5,991    <\/strong><\/td>\n <\/td>\n$       5,412    <\/strong><\/td>\n <\/td>\n$     21,733   <\/strong><\/td>\n <\/td>\n$     19,736   <\/strong><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n            (52)  <\/td>\n <\/td>\n            (53)  <\/td>\n <\/td>\n          (209) <\/td>\n <\/td>\n          (205) <\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n          (164)  <\/td>\n <\/td>\n          (159)  <\/td>\n <\/td>\n          (626) <\/td>\n <\/td>\n          (587) <\/td>\n<\/tr>\n
Non-GAAP R&<\/span>D and MG<\/span>&<\/span>A<\/strong><\/td>\n <\/td>\n$       5,775    <\/strong><\/td>\n <\/td>\n$       5,200    <\/strong><\/td>\n <\/td>\n$     20,898   <\/strong><\/td>\n <\/td>\n$     18,944   <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> ope\u00adra\u00adting income<\/strong><\/td>\n <\/td>\n$       4,989    <\/strong><\/td>\n <\/td>\n$       5,884    <\/strong><\/td>\n <\/td>\n$     19,456   <\/strong><\/td>\n <\/td>\n$     23,678   <\/strong><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n           387 <\/td>\n <\/td>\n           363 <\/td>\n <\/td>\n        1,492  <\/td>\n <\/td>\n        1,416  <\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n             29 <\/td>\n <\/td>\n             52 <\/td>\n <\/td>\n        2,626  <\/td>\n <\/td>\n           198 <\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n          (354)  <\/td>\n <\/td>\n          (179)  <\/td>\n <\/td>\n       (1,369) <\/td>\n <\/td>\n          (937) <\/td>\n<\/tr>\n
Non-GAAP ope\u00adra\u00adting income<\/strong><\/td>\n <\/td>\n$       5,051    <\/strong><\/td>\n <\/td>\n$       6,120    <\/strong><\/td>\n <\/td>\n$     22,205   <\/strong><\/td>\n <\/td>\n$     24,355   <\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> ope\u00adra\u00adting margin<\/strong><\/td>\n <\/td>\n 24.3 %<\/strong><\/td>\n <\/td>\n 29.5 %<\/strong><\/td>\n <\/td>\n 24.6 %<\/strong><\/td>\n <\/td>\n 30.4 %<\/strong><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n1.9 %<\/td>\n <\/td>\n1.8 %<\/td>\n <\/td>\n1.9 %<\/td>\n <\/td>\n1.8 %<\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n0.1 %<\/td>\n <\/td>\n0.3 %<\/td>\n <\/td>\n3.3 %<\/td>\n <\/td>\n0.3 %<\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n(0.5) %<\/td>\n <\/td>\n0.9 %<\/td>\n <\/td>\n(0.1) %<\/td>\n <\/td>\n0.9 %<\/td>\n<\/tr>\n
Non-GAAP ope\u00adra\u00adting mar\u00adgin1 <\/sup><\/strong><\/td>\n <\/td>\n 25.9 %<\/strong><\/td>\n <\/td>\n 32.4 %<\/strong><\/td>\n <\/td>\n 29.7 %<\/strong><\/td>\n <\/td>\n 33.4 %<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> tax rate<\/strong><\/td>\n <\/td>\n 11.0 %<\/strong><\/td>\n <\/td>\n 21.8 %<\/strong><\/td>\n <\/td>\n 8.5 %<\/strong><\/td>\n <\/td>\n 16.7 %<\/strong><\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n0.7 %<\/td>\n <\/td>\n(0.1) %<\/td>\n <\/td>\n0.6 %<\/td>\n <\/td>\n(0.1) %<\/td>\n<\/tr>\n
Non-GAAP tax rate<\/strong><\/td>\n <\/td>\n 11.7 %<\/strong><\/td>\n <\/td>\n 21.7 %<\/strong><\/td>\n <\/td>\n 9.1 %<\/strong><\/td>\n <\/td>\n 16.6 %<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> net income<\/strong><\/td>\n <\/td>\n$       4,623    <\/strong><\/td>\n <\/td>\n$       5,857    <\/strong><\/td>\n <\/td>\n$     19,868   <\/strong><\/td>\n <\/td>\n$     20,899   <\/strong><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n           387 <\/td>\n <\/td>\n           363 <\/td>\n <\/td>\n        1,492  <\/td>\n <\/td>\n        1,416  <\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n             29 <\/td>\n <\/td>\n             52 <\/td>\n <\/td>\n        2,626  <\/td>\n <\/td>\n           198 <\/td>\n<\/tr>\n
(Gains) los\u00adses from divestiture<\/td>\n <\/td>\n             \u2014   <\/td>\n <\/td>\n             \u2014   <\/td>\n <\/td>\n             \u2014  <\/td>\n <\/td>\n             (6) <\/td>\n<\/tr>\n
Ongo\u00ading mark-to-mar\u00adket on mar\u00adke\u00adta\u00adble equi\u00adty securities<\/td>\n <\/td>\n          (216)  <\/td>\n <\/td>\n             48 <\/td>\n <\/td>\n           130 <\/td>\n <\/td>\n           133 <\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n          (354)  <\/td>\n <\/td>\n          (179)  <\/td>\n <\/td>\n       (1,369) <\/td>\n <\/td>\n          (937) <\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n            (18)  <\/td>\n <\/td>\n            (56)  <\/td>\n <\/td>\n          (391) <\/td>\n <\/td>\n          (107) <\/td>\n<\/tr>\n
Non-GAAP net income<\/strong><\/td>\n <\/td>\n$       4,451    <\/strong><\/td>\n <\/td>\n$       6,085    <\/strong><\/td>\n <\/td>\n$     22,356   <\/strong><\/td>\n <\/td>\n$     21,596   <\/strong><\/td>\n<\/tr>\n
1 <\/sup><\/em> Our recon\u00adci\u00adlia\u00adti\u00adons of GAAP<\/span> to non-GAAP gross mar\u00adgin and ope\u00adra\u00adting mar\u00adgin per\u00adcen\u00adta\u00adge reflect the exclu\u00adsi\u00adon of our NAND<\/span> memo\u00adry              busi\u00adness from net revenue.<\/em><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons, Except Per Share Amounts)<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n <\/td>\nDec 26, 2020<\/strong><\/td>\n<\/tr>\n
GAAP<\/span> ear\u00adnings per share\u2014diluted<\/strong><\/td>\n <\/td>\n$         1.13    <\/strong><\/td>\n <\/td>\n$         1.42    <\/strong><\/td>\n <\/td>\n$        4.86   <\/strong><\/td>\n <\/td>\n$        4.94   <\/strong><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n          0.09   <\/td>\n <\/td>\n          0.09   <\/td>\n <\/td>\n          0.36  <\/td>\n <\/td>\n          0.33  <\/td>\n<\/tr>\n
Res\u00adtruc\u00adtu\u00adring and other charges<\/td>\n <\/td>\n          0.01   <\/td>\n <\/td>\n          0.02   <\/td>\n <\/td>\n          0.65  <\/td>\n <\/td>\n          0.05  <\/td>\n<\/tr>\n
(Gains) los\u00adses from divestiture<\/td>\n <\/td>\n             \u2014   <\/td>\n <\/td>\n             \u2014   <\/td>\n <\/td>\n             \u2014  <\/td>\n <\/td>\n             \u2014  <\/td>\n<\/tr>\n
Ongo\u00ading mark-to-mar\u00adket on mar\u00adke\u00adta\u00adble equi\u00adty securities<\/td>\n <\/td>\n         (0.05)  <\/td>\n <\/td>\n          0.01   <\/td>\n <\/td>\n          0.03  <\/td>\n <\/td>\n          0.03  <\/td>\n<\/tr>\n
NAND<\/span> memo\u00adry business<\/td>\n <\/td>\n         (0.08)  <\/td>\n <\/td>\n         (0.04)  <\/td>\n <\/td>\n         (0.33) <\/td>\n <\/td>\n         (0.22) <\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n         (0.01)  <\/td>\n <\/td>\n         (0.02)  <\/td>\n <\/td>\n         (0.10) <\/td>\n <\/td>\n         (0.03) <\/td>\n<\/tr>\n
Non-GAAP ear\u00adnings per share\u2014diluted<\/strong><\/td>\n <\/td>\n$         1.09    <\/strong><\/td>\n <\/td>\n$         1.48    <\/strong><\/td>\n <\/td>\n$        5.47   <\/strong><\/td>\n <\/td>\n$        5.10   <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/sup><\/em><\/p>\n\n\n\n\n\n\n\n\n\n
 <\/td>\n <\/td>\nTwel\u00adve Months Ended<\/strong><\/td>\n<\/tr>\n
(In Mil\u00adli\u00adons)<\/strong><\/td>\n <\/td>\nDec 25, 2021<\/strong><\/td>\n<\/tr>\n
GAAP<\/span> cash from operations<\/strong><\/td>\n <\/td>\n$                      29,991 <\/strong><\/td>\n<\/tr>\n
Addi\u00adti\u00adons to pro\u00adper\u00adty, plant and equipment<\/td>\n <\/td>\n                       (18,733)<\/td>\n<\/tr>\n
Free cash flow<\/strong><\/td>\n <\/td>\n$                      11,258 <\/strong><\/td>\n<\/tr>\n
GAAP<\/span> cash used for inves\u00adt\u00ading activities<\/strong><\/td>\n <\/td>\n$                     (25,167)<\/strong><\/td>\n<\/tr>\n
GAAP<\/span> cash pro\u00advi\u00added by (used for) finan\u00adcing activities<\/strong><\/td>\n <\/td>\n$                       (5,862)<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

Intel Cor\u00adpo\u00adra\u00adti\u00adon<\/p>\n

Sup\u00adple\u00admen\u00adtal Recon\u00adci\u00adlia\u00adti\u00adons of GAAP<\/span> Out\u00adlook to Non-GAAP Outlook<\/p>\n

Set forth below are recon\u00adci\u00adlia\u00adti\u00adons of the non-GAAP finan\u00adcial mea\u00adsu\u00adre to the most direct\u00adly com\u00adpa\u00adra\u00adble U.S. GAAP<\/span> finan\u00adcial mea\u00adsu\u00adre. The\u00adse non-GAAP finan\u00adcial mea\u00adsu\u00adres should not be con\u00adside\u00adred a sub\u00adsti\u00adtu\u00adte for, or supe\u00adri\u00ador to, finan\u00adcial mea\u00adsu\u00adres cal\u00adcu\u00adla\u00adted in accordance with U.S. GAAP<\/span>, and the finan\u00adcial out\u00adlook pre\u00adpared in accordance with U.S. GAAP<\/span> and the recon\u00adci\u00adlia\u00adti\u00adons from this Busi\u00adness Out\u00adlook should be careful\u00adly evaluated.<\/p>\n

Plea\u00adse refer to \u201cExpl\u00adana\u00adti\u00adon of Non-GAAP Mea\u00adsu\u00adres\u201d in this docu\u00adment for a detail\u00aded expl\u00adana\u00adti\u00adon of the adjus\u00adt\u00adments made to the com\u00adpa\u00adra\u00adble U.S. GAAP<\/span> mea\u00adsu\u00adres, the ways manage\u00adment uses the non-GAAP mea\u00adsu\u00adres, and the reasons why manage\u00adment belie\u00adves the non-GAAP mea\u00adsu\u00adres pro\u00advi\u00adde useful infor\u00adma\u00adti\u00adon for investors.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
(In Bil\u00adli\u00adons, Except Per Share Amounts)<\/strong><\/td>\n <\/td>\nQ1<\/span> 2022 Outlook<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\nAppro\u00adxi\u00adm\u00adate\u00adly<\/td>\n<\/tr>\n
GAAP<\/span> gross margin<\/strong><\/td>\n <\/td>\n 49.4 %<\/strong><\/td>\n<\/tr>\n
Amor\u00adtiza\u00adti\u00adon of acqui\u00adsi\u00adti\u00adon-rela\u00adted intan\u00adgi\u00adble assets<\/td>\n <\/td>\n1.9 %<\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n0.6 %<\/td>\n<\/tr>\n
Non-GAAP gross margin<\/strong><\/td>\n <\/td>\n 52.0 %<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> tax rate<\/strong><\/td>\n <\/td>\n 25 %<\/strong><\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n(10) %<\/td>\n<\/tr>\n
Non-GAAP tax rate<\/strong><\/td>\n <\/td>\n 15 %<\/strong><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
GAAP<\/span> ear\u00adnings per share\u2014diluted<\/strong><\/td>\n <\/td>\n$                   0.70    <\/strong><\/td>\n<\/tr>\n
Acqui\u00adsi\u00adti\u00adon-rela\u00adted adjustments<\/td>\n <\/td>\n                     0.10   <\/td>\n<\/tr>\n
Share-based com\u00adpen\u00adsa\u00adti\u00adon<\/td>\n <\/td>\n                     0.18   <\/td>\n<\/tr>\n
(Gains) los\u00adses from divestiture<\/td>\n <\/td>\n                    (0.25)  <\/td>\n<\/tr>\n
(Gains) los\u00adses on equi\u00adty invest\u00adments, net<\/td>\n <\/td>\n                    (0.02)  <\/td>\n<\/tr>\n
Inco\u00adme tax effects<\/td>\n <\/td>\n                     0.09   <\/td>\n<\/tr>\n
Non-GAAP ear\u00adnings per share\u2014diluted<\/strong><\/td>\n <\/td>\n$                   0.80    <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Released Jan 26, 2022 \u2022 4:00 PM<\/span> EST<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Deli\u00advers Record Quar\u00adter\u00adly and Full-Year Revenue<\/p>\n

News Sum\u00adma\u00adry<\/u><\/p>\n

\u25aa       Fourth-quar\u00adter GAAP<\/span> reve\u00adnue was $20.5 bil\u00adli\u00adon, excee\u00adding Octo\u00adber gui\u00addance by $1.3 bil\u00adli\u00adon and up 3 per\u00adcent year-over-year (YoY). Fourth-quar\u00adter non-GAAP reve\u00adnue was $19.5 bil\u00adli\u00adon, excee\u00adding Octo\u00adber gui\u00addance by $1.2 bil\u00adli\u00adon. Full-year GAAP<\/span> reve\u00adnue set an all-time Intel record of $79.0 bil\u00adli\u00adon, up 1 per\u00adcent YoY.<\/p>\n

\u25aa       Deli\u00adver\u00aded GAAP<\/span> fourth-quar\u00adter ear\u00adnings per share (EPS<\/span>) of $1.13, excee\u00adding Octo\u00adber gui\u00addance by 35 cents. Fourth-quar\u00adter non-GAAP EPS<\/span> was $1.09, excee\u00adding Octo\u00adber gui\u00addance by 19 cents.<\/p>\n

\u25aa       In 2021, Intel gene\u00adra\u00adted $30.0 bil\u00adli\u00adon of cash from ope\u00adra\u00adti\u00adons and $11.3 bil\u00adli\u00adon of free cash flow (FCF<\/span>).<\/p>\n

\u25aa       Fore\u00adcas\u00adting first-quar\u00adter 2022 reve\u00adnue of appro\u00adxi\u00adm\u00adate\u00adly $18.3 bil\u00adli\u00adon; expec\u00adting first-quar\u00adter EPS<\/span> of $0.70 (non-GAAP EPS<\/span> of $0.80).<\/p>\n

\u25aa       Announ\u00adces five per\u00adcent increase to quar\u00adter\u00adly cash dividend.<\/p>\n

SANTA<\/span> CLARA<\/span>, Calif., Janu\u00adary 26, 2022 \u2014 Intel Cor\u00adpo\u00adra\u00adti\u00adon today repor\u00adted fourth-quar\u00adter and full-year 2021 finan\u00adcial results. The com\u00adpa\u00adny also announ\u00adced that its board of direc\u00adtors appro\u00adved a cash divi\u00addend increase of five per\u00adcent to $1.46 per share on an annu\u00adal basis. The board declared a quar\u00adter\u00adly divi\u00addend of $0.365 per share on the company\u2019s com\u00admon stock, which will be paya\u00adble on March 1 to share\u00adhol\u00adders of record as of Febru\u00adary 7.<\/p>\n

\u201c<\/span>Q4<\/span> repre\u00adsen\u00adted a gre\u00adat finish to a gre\u00adat year. We excee\u00added top-line quar\u00adter\u00adly gui\u00addance by over $1 bil\u00adli\u00adon and deli\u00adver\u00aded the best quar\u00adter\u00adly and full-year reve\u00adnue in the company\u2019s histo\u00adry,\u201d said Pat Gel\u00adsin\u00adger, Intel CEO<\/span>. \u201cOur disci\u00adpli\u00adned focus on exe\u00adcu\u00adti\u00adon across tech\u00adno\u00adlo\u00adgy deve\u00adlo\u00adp\u00adment, manu\u00adfac\u00adtu\u00adring, and our tra\u00addi\u00adtio\u00adnal and emer\u00adging busi\u00adnesses is reflec\u00adted in our results. We remain com\u00admit\u00adted to dri\u00adving long-term, sus\u00adtainable growth as we relent\u00adless\u00adly exe\u00adcu\u00adte our IDM<\/span> 2.0 stra\u00adtegy.\u201d (\u2026) Wei\u00adter\u00adle\u00adsen \u00bb<\/a><\/p>\n","protected":false},"author":593,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"ngg_post_thumbnail":0,"footnotes":""},"categories":[22],"tags":[2541,1004,2219,368],"class_list":["post-64477","post","type-post","status-publish","format-standard","hentry","category-pressemitteilungen","tag-2541","tag-intel","tag-q4","tag-quartalszahlen","entry"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/64477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/users\/593"}],"replies":[{"embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/comments?post=64477"}],"version-history":[{"count":1,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/64477\/revisions"}],"predecessor-version":[{"id":64478,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/posts\/64477\/revisions\/64478"}],"wp:attachment":[{"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/media?parent=64477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/categories?post=64477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.planet3dnow.de\/cms\/wp-json\/wp\/v2\/tags?post=64477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}