GlobalFoundries Reports Fourth Quarter and Fiscal Year 2022 Financial Results

  Three Months Ended  Year Ended
(in millions USD) December 31, 2022  December 31, 2021  December 31, 2022  December 31, 2021
        
Cash flows from operating activities:       
Net income (loss) $ 668   $ 43   $ 1,446   $ (254 )
Depreciation and amortization 409   419   1,623   1,619 
Gain on the sale of a fabrication facility (403)     (403)   
Finance expense, net and other(1) (3)     (6 )     1       1  
Deferred income taxes   30       40       82       93  
Other non-cash operating activities   16       23       50       150  
Net change in working capital   (226 )     629       (175 )     1,230  
Net cash provided by operating activities $ 491     $ 1,148     $ 2,624     $ 2,839  
               
Cash flows from investing activities:              
Purchases of property, plant, equipment, and intangible assets $ (991 )   $ (649 )   $ (3,059 )   $ (1,766 )
Other investing activities   (60 )     23       (999 )     316  
Net cash used in investing activities $ (1,051 )   $ (626 )   $ (4,058 )   $ (1,450 )
               
Cash flows from financing activities:              
Proceeds from issuance of equity instruments $ 12     $ 1,444     $ 168     $ 1,444  
Repayments of shareholder loan                     (568 )
Proceeds (repayment) of debt, net   255       (72 )     581       (343 )
Other financing activities   93       27       93       117  
Net cash provided by financing activities $ 360     $ 1,399     $ 842     $ 650  
Effect of exchange rate changes   11       (1 )     5       (8 )
Net change in cash and cash equivalents $ (189 )   $ 1,920     $ (587 )   $ 2,031  
Cash and cash equivalents at the beginning of the period   2,541       1,019       2,939       908  
Cash and cash equivalents at the end of the period $ 2,352     $ 2,939     $ 2,352     $ 2,939  
               
(1) Finance expense, net and other has been adjusted to include interest and taxes paid that were previously included in "Other non-cash operating activities." Prior period amounts have been adjusted accordingly.
 

Unaudited Reconciliation of IFRS to Adjusted Non-IFRS

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