Intel Reports Fourth-Quarter and Full-Year 2021 Financial Results

 

 

Three Months Ended

 

Twelve Months Ended

(In Millions, Except Per Share Amounts)

 

Dec 25, 2021

 

Dec 26, 2020

 

Dec 25, 2021

 

Dec 26, 2020

GAAP net revenue

 

$     20,528   

 

$     19,978   

 

$     79,024  

 

$     77,867  

NAND memory business

 

          (996)  

 

        (1,115)  

 

       (4,306) 

 

       (4,967) 

Non-GAAP net revenue

 

$     19,532   

 

$     18,863   

 

$     74,718  

 

$     72,900  

 

 

 

 

 

 

 

 

 

GAAP gross margin

 

$     11,009   

 

$     11,348   

 

$     43,815  

 

$     43,612  

Acquisition-related adjustments

 

           335   

 

           310   

 

        1,283  

 

        1,211   

NAND memory business

 

          (518)  

 

          (338)  

 

       (1,995) 

 

       (1,524) 

Non-GAAP gross margin

 

$     10,826   

 

$     11,320   

 

$     43,103  

 

$     43,299  

 

 

 

 

 

 

 

 

 

GAAP gross margin percentage

 

53.6 %

 

56.8 %

 

55.4 %

 

56.0 %

Acquisition-related adjustments

 

1.6 %

 

1.6 %

 

1.6 %

 

1.6 %

NAND memory business

 

0.2 %

 

1.7 %

 

0.6 %

 

1.8 %

Non-GAAP gross margin percentage1

 

55.4 %

 

60.0 %

 

57.7 %

 

59.4 %

 

 

 

 

 

 

 

 

 

GAAP R&D and MG&A

 

$       5,991   

 

$       5,412   

 

$     21,733  

 

$     19,736  

Acquisition-related adjustments

 

            (52)  

 

            (53)  

 

          (209) 

 

          (205) 

NAND memory business

 

          (164)  

 

          (159)  

 

          (626) 

 

          (587) 

Non-GAAP R&D and MG&A

 

$       5,775   

 

$       5,200   

 

$     20,898  

 

$     18,944  

 

 

 

 

 

 

 

 

 

GAAP operating income

 

$       4,989   

 

$       5,884   

 

$     19,456  

 

$     23,678  

Acquisition-related adjustments

 

           387   

 

           363   

 

        1,492  

 

        1,416  

Restructuring and other charges

 

             29   

 

             52   

 

        2,626  

 

           198  

NAND memory business

 

          (354)  

 

          (179)  

 

       (1,369) 

 

          (937) 

Non-GAAP operating income

 

$       5,051   

 

$       6,120   

 

$     22,205  

 

$     24,355  

 

 

 

 

 

 

 

 

 

GAAP operating margin

 

24.3 %

 

29.5 %

 

24.6 %

 

30.4 %

Acquisition-related adjustments

 

1.9 %

 

1.8 %

 

1.9 %

 

1.8 %

Restructuring and other charges

 

0.1 %

 

0.3 %

 

3.3 %

 

0.3 %

NAND memory business

 

(0.5) %

 

0.9 %

 

(0.1) %

 

0.9 %

Non-GAAP operating margin 1

 

25.9 %

 

32.4 %

 

29.7 %

 

33.4 %

 

 

 

 

 

 

 

 

 

GAAP tax rate

 

11.0 %

 

21.8 %

 

8.5 %

 

16.7 %

Income tax effects

 

0.7 %

 

(0.1) %

 

0.6 %

 

(0.1) %

Non-GAAP tax rate

 

11.7 %

 

21.7 %

 

9.1 %

 

16.6 %

 

 

 

 

 

GAAP net income

 

$       4,623   

 

$       5,857   

 

$     19,868  

 

$     20,899  

Acquisition-related adjustments

 

           387   

 

           363   

 

        1,492  

 

        1,416  

Restructuring and other charges

 

             29   

 

             52   

 

        2,626  

 

           198  

(Gains) losses from divestiture

 

             —   

 

             —   

 

             —  

 

             (6) 

Ongoing mark-to-market on marketable equity securities

 

          (216)  

 

             48   

 

           130  

 

           133  

NAND memory business

 

          (354)  

 

          (179)  

 

       (1,369) 

 

          (937) 

Income tax effects

 

            (18)  

 

            (56)  

 

          (391) 

 

          (107) 

Non-GAAP net income

 

$       4,451   

 

$       6,085   

 

$     22,356  

 

$     21,596  

1  Our reconciliations of GAAP to non-GAAP gross margin and operating margin percentage reflect the exclusion of our NAND memory              business from net revenue.

(In Millions, Except Per Share Amounts)

 

Dec 25, 2021

 

Dec 26, 2020

 

Dec 25, 2021

 

Dec 26, 2020

GAAP earnings per share—diluted

 

$         1.13   

 

$         1.42   

 

$        4.86  

 

$        4.94  

Acquisition-related adjustments

 

          0.09   

 

          0.09   

 

          0.36  

 

          0.33  

Restructuring and other charges

 

          0.01   

 

          0.02   

 

          0.65  

 

          0.05  

(Gains) losses from divestiture

 

             —   

 

             —   

 

             —  

 

             —  

Ongoing mark-to-market on marketable equity securities

 

         (0.05)  

 

          0.01   

 

          0.03  

 

          0.03  

NAND memory business

 

         (0.08)  

 

         (0.04)  

 

         (0.33) 

 

         (0.22) 

Income tax effects

 

         (0.01)  

 

         (0.02)  

 

         (0.10) 

 

         (0.03) 

Non-GAAP earnings per share—diluted

 

$         1.09   

 

$         1.48   

 

$        5.47  

 

$        5.10  


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise