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

 

 

 

Three Months Ended

(In Millions)

 

Dec 25, 2021

 

Dec 26, 2020

Earnings per share of common stock information:

 

 

 

 

Weighted average shares of common stock outstanding—basic

 

           4,069

 

           4,094

Dilutive effect of employee equity incentive plans

 

               26

 

               25

Weighted average shares of common stock outstanding—diluted

 

           4,095

 

           4,119

 

 

 

 

 

Stock buyback:

 

 

 

 

Shares repurchased

 

               —

 

               38

Cumulative shares repurchased (in billions)

 

              5.8

 

              5.7

Remaining dollars authorized for buyback (in billions)

 

$             7.2

 

$             9.7

 

 

 

 

 

Other information:

 

 

 

 

Employees (in thousands)

 

           121.1

 

           110.6

 

 

Intel Corporation

Consolidated Condensed Balance Sheets

(In Millions)

 

Dec 25, 2021

 

Dec 26, 2020

Assets

 

(unaudited)

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$          4,827

 

$          5,865

Short-term investments

 

            2,103

 

            2,292

Trading assets

 

          21,483

 

          15,738

Accounts receivable, net of allowance for doubtful accounts

 

            9,457

 

            6,782

Inventories

 

 

 

 

Raw materials

 

            1,441

 

               908

Work in process

 

            6,656

 

            5,693

Finished goods

 

            2,679

 

            1,826

 

 

          10,776

 

            8,427

Assets held for sale

 

            6,942

 

            5,400

Other current assets

 

            2,130

 

            2,745

Total current assets

 

          57,718

 

          47,249

 

 

 

 

 

Property, plant and equipment, net

 

          63,245

 

          56,584

Equity investments

 

            6,298

 

            5,152

Other long-term investments

 

               840

 

            2,192

Goodwill

 

          26,963

 

          26,971

Identified intangible assets, net

 

            7,270

 

            9,026

Other long-term assets

 

            6,072

 

            5,917

Total assets

 

$       168,406

 

$       153,091

 

 

 

 

 

Liabilities

 

 

 

 

Current liabilities

 

 

 

 

Short-term debt

 

$          4,591

 

$          2,504

Accounts payable

 

            5,747

 

            5,581

Accrued compensation and benefits

 

            4,535

 

            3,999

Other accrued liabilities

 

          12,589

 

          12,670

Total current liabilities

 

          27,462

 

          24,754

Debt

 

          33,510

 

          33,897

Contract liabilities

 

               185

 

            1,367

Income taxes payable

 

            4,305

 

            4,578

Deferred income taxes

 

            2,667

 

            3,843

Other long-term liabilities

 

            4,886

 

            3,614

Stockholders' equity

 

 

 

 

Common stock, $0.001 par value, 10,000 shares authorized; 4,070 shares issued and outstanding (4,062 issued and outstanding in 2020) and capital in excess of par value

 

          28,006

 

          25,556

Accumulated other comprehensive income (loss)

 

              (880)

 

              (751)

Retained earnings

 

          68,265

 

          56,233

Total stockholders' equity

 

          95,391

 

          81,038

Total liabilities and stockholders' equity

 

$       168,406

 

$       153,091


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