Demand for Intel's products is highly variable and can differ from expectations due to factors including changes in business and economic conditions; customer confidence or income levels, and the levels of customer capital spending; the introduction, availability, and market acceptance of Intel's products, products used together with Intel products, and competitors' products; competitive and pricing pressures, including actions taken by competitors; supply constraints and other disruptions affecting customers; changes in customer order patterns or forecasts including order cancellations; changes in customer needs and emerging technology trends; and changes in the level of inventory and computing capacity at customers. On behalf of Intel Corporation ("Intel" or the "Company") I am pleased to provide this offer to you for the position of Chief Executive Officer reporting to the Intel Board of Directors (the "Board"). In depth view into Intel Revenue (Quarterly) including historical data from 1972, charts and stats. Intels Business Outlook and other statements in this release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. 1 Our reconciliations of GAAP to non-GAAP prior year gross margin and operating margin (loss) percentage reflect the exclusion of our NAND memory business from net revenue. Restrictions on our manufacturing or support operations or workforce, or similar limitations for our vendors and suppliers, can impact our ability to meet customer demand and could have a material adverse effect on us. It is doing this, the company says, by "reducing compensation and rewards programs for employees and executives." We exclude the impact of our NAND memory business in certain non-GAAP measures. Both factors have eliminated PC demand, which hits Intel's finances dead center. Credit: REUTERS/STEVE MARCUS. // No product or component can be absolutely secure. But the dividend cut was necessary. Intel presently considers the following to be among the important factors that can cause actual results to differ materially from the company's expectations. Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Prospectively, we believe this approach will facilitate comparison of our operating results and provide useful evaluation of our current operating performance. IFS achieved record revenue for both the fourth quarter and full year, with active design engagements with seven of the 10 largest foundry customers. The list of bullish arguments for Intel stock is now alarmingly low. Intel's revenue has drastically fallen over the past year. Intel continues to make progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. Accordingly, the consumer graphics teams will join CCG, and the accelerated computing teams will join DCAI. INTC Capital Expenditures (TTM) data by YCharts. Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023. 0000010409 00000 n Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. You can easily search the entire Intel.com site in several ways. Declares quarterly cash dividend of $0.365 per share. Russia has likewise imposed currency restrictions and regulations and may further take retaliatory trade or other actions, including the nationalization of foreign businesses. Listen Base Salary. The live public webcast can be accessed on Intel's Investor Relations website at. Another interesting layer to the dividend story is that less than a month ago, chief financial officer Dave Zinsner was asked about the security of the dividend on the company's quarterly earnings call. NEX includes programmable platforms and high-performance connectivity and compute solutions designed for market segments such as cloud networking, telecommunications networks, on-premises edge, software and platforms. Income tax effects have been calculated using an appropriate tax rate for each adjustment, as applicable. Intel technologies may require enabled hardware, software or service activation. Since the 2017 divestiture, McAfee equity distributions and sales have contributed to operating and free cash flow, and while the McAfee equity sale in Q1 2022 would typically be excluded from adjusted free cash flow as an equity sale, we believe including the sale proceeds in adjusted free cash flow facilitate a better, more consistent comparison to past presentations of liquidity. 245 0 obj <>stream The impact of the pandemic can also exacerbate other risks discussed in this section. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to Intel's strategy and its anticipated benefits, including our IDM 2.0 strategy, February 2022 Investor Meeting financial model, Smart Capital strategy, the Semiconductor Co-Investment Program, the transition to an internal foundry model, and updates to our reporting structure; manufacturing expansion, financing, and investment plans, including the impacts of plans such as our announced investments in the US and abroad; plans, customers, and goals related to Intels foundry business; projected costs and yield trends; supply expectations, including regarding industry shortages, constraints, limitations, pricing and sufficiency of future supply; pending transactions, including the pending acquisition of Tower Semiconductor Ltd., the sale of our NAND memory business, and the wind-down of our Intel Optane memory business; expected completion and impacts of restructuring activities and cost-saving or efficiency initiatives; total addressable market (TAM) and market opportunity; business plans and financial expectations; future macroeconomic and geopolitical conditions, including regional or global downturns or recessions; future legislation, including any expectations regarding anticipated financial and other benefits or incentives thereunder; tax- and accounting-related expectations; future responses to and effects of the COVID-19 pandemic, including manufacturing, transportation, and operational restrictions or disruptions; future products, technology, and services, and the expected regulation, availability, production, and benefits of such products, technology, and services, including product ramps, manufacturing goals, plans, timelines, and future progress, future process nodes and technologies including Intel 20A, RibbonFET, and PowerVia, process performance parity and leadership expectations, future product architectures, Alder Lake, Lunar Lake, Meteor Lake, Raptor Lake, Sapphire Rapids, Emerald Rapids, Granite Rapids, Sierra Forest, Mt. 5.81%. The Motley Fool has a disclosure policy. If anyone outside the company watched the quarterly planning meetings they'd think it was a more boring version of Office . This includes the reorganization of Intel's business units to capture this growth and provide increased transparency, focus and accountability. first-quarter 2022 revenue was down 7% from 2021). Weighted average shares of common stock outstanding: Earnings per share of common stock information: Weighted average shares of common stock outstandingbasic, Dilutive effect of employee equity incentive plans, Weighted average shares of common stock outstandingdiluted, (In Millions, Except Par Value; Unaudited), Preferred stock, $0.001 par value, 50 shares authorized; none issued, Common stock, $0.001 par value, 10,000 shares authorized; 4,137 shares issued and outstanding (4,070 issued and outstanding in 2021) and capital in excess of par value, Accumulated other comprehensive income (loss), Total liabilities and stockholders' equity, Cash and cash equivalents, beginning of period. 0000018698 00000 n Intel presently considers the following to be among the important factors that can cause actual results to differ materially from the company's expectations. Additionally, in December 2022, in partnership with ASUS, Intel officially set a new world record for overclocking, pushing the 13th Gen Intel Core i9-13900K past the 9 gigahertz barrier for the first time ever. Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. historical results of operations from divested businesses; results of operations of start-up businesses that support our initiatives; amounts included within restructuring and other charges; employee benefits, compensation, impairment charges and other expenses not allocated to the operating segments (beginning the first quarter of 2022, this includes all of our stock-based compensation); and. Intel's largest business, its Client Computing Group, was down 7% year-over-year to $10.1 billion, though it still beat analysts' estimates. The next Intel Corp. dividend went ex 22 days ago for 36.5c and will be paid tomorrow. In a rough calculation, state economist Josh Lehner estimated Intel's pay cuts could reduce Oregon's aggregate wages by $150 million to $200 million - about 0.15% of all wages statewide . Forgot your Intelusername The company also announced that its board of directors has declared a quarterly dividend of $0.365 per share on the companys common stock, which will be payable on March 1, 2023, to shareholders of record as of February 7, 2023. Product defects or errata (deviations from published specifications) can adversely impact our expenses, revenues, and reputation. NEX includes programmable platforms and high-performance connectivity and compute solutions designed for market segments such as cloud networking, telecommunications networks, on-premises edge, software and platforms. (Gains) losses on equity investments, net consists of ongoing mark-to-market adjustments on marketable equity securities, observable price adjustments on non-marketable equity securities, related impairment charges, and the sale of equity investments and other. Argentina. These adjustments facilitate a useful evaluation of our current operating performance and comparisons to past operating results. Exhibit 10.1. We have sales and marketing, manufacturing, engineering, finance and administration groups. Are They Buys Now? A public webcast of Intel's earnings conference call will follow at 2 p.m. PDT at www.intc.com. . Mobileye continued to execute well in its core advanced driver-assistance systems (ADAS) business, as it launched systems into 233 distinct vehicle models in 2022. Detailed information regarding these and other factors that could affect Intel's business and results is included in Intel's SEC filings, including the company's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports. You can also try the quick links below to see results for most popular searches. 0000001639 00000 n Charges related to the amortization of these intangibles are recorded within both cost of sales and MG&A in our US GAAP financial statements. One of the items Intel brought up in its announcement to cut the dividend was its cost-savings initiatives. Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology, brands, and customer relationships acquired in connection with business combinations. These adjustments facilitate a useful evaluation of our current operating performance and comparison to our past operating performance and provide investors with additional means to evaluate cost and expense trends. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. Predictive analysis failure detection . // Your costs and results may vary. In addition, these transactions do not always achieve our financial or strategic objectives and can disrupt our ongoing business and adversely impact our results of operations. 0000001072 00000 n 0 Intel's results may be affected by factors that could cause the implementation of, and expected results from, our restructuring or cost-savings initiatives to differ from Intel's expectations. Declares quarterly cash dividend of $0.365 per share. Intel Corporation pays an average of $7,375 in annual employee bonuses. The earnings conference call for investors begins at 2 p.m. PDT today; a public webcast will be available at www.intc.com. Terms of Use. 0000005213 00000 n Intel Corporation. The adjustment for all gains and losses on equity investments includes the ongoing mark-to-market adjustments previously excluded from our non-GAAP results. Feb 6, 2023. A portion of the charge from our IP settlements represents a catch-up of cumulative amortization that would have been incurred for the right to use the related patents in prior periods. The . Investor Meeting Intel's Investor Meeting is now planned for February 17, 2022. Its gross margin also fell from 54% last year to 39% in the fourth quarter, indicating Intel had to slash prices to get to the revenue levels it did. These measures have impacted and may further impact our workforce and operations, the operations of our customers, and those of our respective vendors, suppliers, and partners. These non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans. See Intels Global Human Rights Principles. We exclude the catch-up charge related to prior periods for purposes of calculating certain non-GAAP measures because this adjustment facilitates comparison to past operating results and provides a useful evaluation of our current operating performance. In the fourth quarter,Intel posted a $700 million loss, driven by revenue falling 32%. Cash flows provided by (used for) investing activities: Additions to property, plant and equipment, Additions to held for sale NAND property, plant and equipment, Maturities and sales of short-term investments. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. // Performance varies by use, configuration and other factors. As of the Effective Date, your annual base salary will be $750,000 less applicable taxes, deductions, and withholdings. This charge related to prior periods is excluded from our non-GAAP results; amortization related to the right to use the patents in the current and ongoing periods is included. 0000001911 00000 n Intel Corporation. Fourth-quarter revenue was $14.0 billion, down 32 percent year-over-year (YoY) and down 28 percent YoY on a non-GAAP basis. Intel 7 is now in high-volume manufacturing for both client and server. Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. Published. Read More October 5, 2020 Reviewed by: Anonymous (Anonymous Employee) This adjustment facilitates a useful evaluation of our current operating performance and comparisons to past operating results. In addition, we have entered new areas and introduced adjacent products, such as our intention to become a major provider of foundry services, and we face new sources of competition and uncertain market demand or acceptance of our offerings with respect to these new areas and products, and they do not always grow as projected. Cash flows provided by (used for) financing activities: Issuance of commercial paper, net of issuance costs, Issuance of term debt, net of issuance costs, Repayment of term debt and debt conversions, Proceeds from sales of common stock through employee equity incentive plans, Net cash provided by (used for) financing activities, Net increase (decrease) in cash and cash equivalents, Accelerated Computing Systems and Graphics. %%EOF Results can also be affected by the formal or informal imposition by countries of new or revised export and/or import and doing-business regulations, including changes or uncertainty related to the US government entity list and changes in the ability to obtain export licenses, which can be changed without prior notice. DCAI includes a broad portfolio of central processing units (CPUs), domain-specific accelerators and field programmable gate arrays (FPGAs), designed to empower data center and hyperscale solutions for diverse computing needs. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll . 0000054097 00000 n These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial outlook prepared in accordance with US GAAP and the reconciliations from this Business Outlook should be carefully evaluated. Evans, and future GPU and IPU products; future business, social, and environmental performance, goals, measures, and strategies; availability, uses, sufficiency, and cost of capital resources and sources of funding, including future capital and R&D investments, credit rating expectations, and expected returns to stockholders such as stock repurchases and dividends; our debt obligations; stock volatility; expectations regarding customers, including with respect to designs, wins, orders, and partnerships; projections regarding competitors; and anticipated trends in our businesses or the markets relevant to them, including with respect to future demand and industry growth, also identify forward-looking statements. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. SANTA CLARA, Calif., Jan. 26, 2023 -- Intel Corporation today reported fourth-quarter and full-year 2022 financial results. 209 0 obj <> endobj SupportAssist automatically detects and proactively alerts Dell to: operating system issues, software upgrades, driver updates and patches, malware, virus infected files, failures of hard drives, batteries, memory, internal cables, thermal sensors, heat sinks, fans, solid state drives and video cards. Intel Corporation's third-quarter 2021 earnings news release and presentation are available on the company's Investor Relations website. Demand for our products has been and could again be materially harmed in the future, and our ability to accurately predict future demand, trends, or other matters may be impacted. Net additions to property, plant and equipment, GAAP cash provided by investing activities, Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook. The dividend will be payable on June 1, 2021, to stockholders of record on May 7, 2021. Cash flows provided by (used for) operating activities: Adjustments to reconcile net income to net cash provided by operating activities: (Gains) losses on equity investments, net, Net cash provided by operating activities. Do you work for Intel? The pandemic has caused us to modify our business practices. 0000007471 00000 n The COVID-19 pandemic has previously adversely affected significant portions of Intel's business and could have a material adverse effect on Intel's financial condition and results of operations. The COVID-19 pandemic has previously adversely affected significant portions of Intel's business and could have a material adverse effect on Intel's financial condition and results of operations. Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. 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