GlobalFoundries Reports Fourth Quarter and Fiscal Year 2021 Financial Results

1On October 3, 2021, GF executed the conversion of the entire Shareholder Loans balance of $10.113 billion under our loan facilities with Mubadala Investment Company PJSC into additional paid-in-capital, which did not have an impact on shares outstanding or have any dilutive effects, as no additional shares were issued.

Unaudited Consolidated Statements of Cash Flows  

         
   Three Months Ended  Years Ended
(in $M)  December 31, 2020  December 31, 2021  December 31, 2020  December 31, 2021
         
Cash flows from operating activities:        
Net income (loss)  $ (524 )    $ 43    $ (1,351 )    $ (254 ) 
Depreciation and amortization 626   419   2,523   1,619 
Finance expense, net 38   26   151   108 
Deferred income taxes   14       40       (38)       93  
Other non-cash operating activities   (51)       (9)       (338)       43  
Net change in working capital   98       629       59       1,230  
Net cash provided by operating activities   201       1,148       1,006       2,839  
               
Cash flows from investing activities:              
Purchases of property, plant, equipment, and intangible assets   (203)       (649)       (592)       (1,766)  
Other investing activities   126       23       226       316  
Net cash used in investing activities   (77 )       (626 )       (366 )       (1,450 )  
               
Cash flows from financing activities:              
Proceeds from issuance of equity instruments           $1,444             $1,444  
Repayments of shareholder loan   (137)             (487)       (568)  
Repayment of debt, net   (248)       (72)       (556)       (343)  
Other financing activities   38       27       310       117  
Net cash provided by (used in) financing activities   (347 )       1,399       (732 )       650  
Effect of exchange rate changes   3       (1)       3       (8)  
Net change in cash and cash equivalents   (221 )       1,920       (89 )       2,031  
Cash and cash equivalents at the beginning of the period   1,129       1,019       997       908  
Cash and cash equivalents at the end of the period   $ 908       $ 2,939       $ 908       $ 2,939  
                               

Unaudited Reconciliation of IFRS to Adjusted Non-IFRS

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