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