AMD Reports Fourth Quarter and Full Year 2020 Financial Results


   Three Months Ended  Year Ended
   December 26,
2020
  September 26,
2020
  December 28,
2019
  December 26,
2020
  December 28,
2019
GAAP net income / earnings per share  $ 1,781    $ 1.45    $ 390    $ 0.32    $ 170    $ 0.15    $ 2,490    $ 2.06    $ 341    $ 0.30  
Loss on debt redemption/conversion 16  0.01  38  0.03  128  0.10  54  0.04  176  0.15 
Non-cash interest expense related to convertible debt      2         4         6         22     0.02  
Stock-based compensation   79     0.06     76     0.06     57     0.05     274     0.22     197     0.16  
Equity income in investee   (3 )       (1 )               (5 )            
Loss contingency on legal matter                                   12     0.01  
Acquisition-related costs   14     0.01                     14     0.01          
Release of valuation allowance on deferred tax assets   (1,301 )   (1.06 )                   (1,301 )   (1.07 )        
Income tax provision (benefit)   50     0.05     (4 )       24     0.02     43     0.03     8      
Non-GAAP net income / earnings per share   $ 636      $ 0.52      $ 501      $ 0.41      $ 383      $ 0.32      $ 1,575      $ 1.29      $ 756      $ 0.64   
                                                                                 
Shares used and net income adjustment in earnings per share calculation (1)                                                                                
Shares used in per share calculation (GAAP)     1,226       1,215       1,188       1,207       1,120  
Interest expense add-back to GAAP net income   $     $ 1     $ 4     $ 1     $  
Shares used in per share calculation (Non-GAAP)     1,232       1,230
      1,216       1,228       1,209  
Interest expense add-back to Non-GAAP net income   $
    $ 1     $ 2     $ 4     $ 16  

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