(b) Q1 2022 diluted earnings per share includes the full dilutive effect of our outstanding convertible debt upon adoption on January 1, 2022 of the new U.S. GAAP reporting guidance. Prior periods have not been restated.
(1) Non-U.S. GAAP. See Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.
F irst Quarter 202 2 Summary Review
| Net Revenues By Product Group (US$ m) | Q 1 202 2 | Q 4 202 1 | Q 1 20 2 1 | Q/Q | Y/Y |
| Automotive and Discrete Group (ADG) | 1,256 | 1,226 | 1,043 | 2.5% | 20.5% |
| Analog, MEMS and Sensors Group (AMS) | 1,087 | 1,260 | 1,083 | -13.8% | 0.4% |
| Microcontrollers and Digital ICs Group (MDG) | 1,198 | 1,062 | 886 | 12.8% | 35.2% |
| Others | 5 | 8 | 4 | - | - |
| Total Net Revenues | 3,546 | 3,556 | 3,016 | -0.3 % | 17.6 % |
Net revenues totaled $3.55 billion, a year-over-year increase of 17.6%. On a year-over-year basis, the Company recorded higher net sales in all product groups except the Imaging sub-group, as expected. Year-over-year net sales to OEMs and Distribution increased 14.4% and 24.0%, respectively. On a sequential basis, net revenues decreased 0.3%, 130 basis points above the mid-point of the Company’s guidance. ADG and MDG reported increases in net revenues on a sequential basis while AMS decreased, as expected.
