Exhibit 10.1. This long-term non-GAAP tax rate may be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or changes to our strategy or business operations. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. for a basic account. Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. 0000011331 00000 n 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. Intel Corporation today announced that its board of directors has declared a quarterly dividend of $0.3475 per share ($1.39 per share on an annual basis) on the companys common stock. The change in depreciable life will not be counted toward the $3 billion in cost savings in 2023 or the $8 billion to $10 billion exiting 2025 communicated at Q3 2022 earnings. Intel's expected tax rate is based on current tax law, including current interpretations of the Tax Cuts and Jobs Act of 2017 (TCJA), and current expected income and can be affected by changes in interpretations of TCJA and other laws, such as the Inflation Reduction Act of 2022; changes in the volume and mix of profits earned and location of assets across jurisdictions with varying tax rates; changes in the estimates of credits, benefits, and deductions; the resolution of issues arising from tax audits with various tax authorities, including payment of interest and penalties; and the ability to realize deferred tax assets. All forward-looking statements included in this release are based on management's expectations as of the date of this release and, except as required by law, Intel disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. Starting in the first quarter of 2022, we incrementally exclude from our non-GAAP results share-based compensation and all gains and losses on equity investments. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. 0000061766 00000 n Intel will hold a public webcast at 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2022. Sept. 17, 2021 - Intel Corporation today announced that its board of directors has declared a quarterly dividend of $0.3475 per share ($1.39 per share on an annual basis) on the company's common stock. Intel's results can be affected by gains or losses from equity securities and interest and other, which can vary depending on gains or losses on the change in fair value, sale, exchange, or impairments of equity and debt investments, interest rates, cash balances, and changes in fair value of derivative instruments. 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. first-quarter 2022 revenue was down 7% from 2021). 0000007471 00000 n The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. You must be on Intel's payroll by the cutoff date for each six-month bonus xref By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 1 Unstoppable Growth Stock to Buy Hand Over Fist, According to Wall Street. Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023. SAFe was a joke from the beginning, and nobody can honestly say that the company is functioning any better. There are multiple ways employees are compensated at Intel: Base Salary Quarterly Profit Bonus (QPB) Annual Performance Bonus (APB) Stock Awards The base salary is paid out twice a month. Strong Results, Cautious Outlook. Intel is also spending big money on its Ohio chip factory: a $20 billion investment that could potentially expand to $100 billion. 33% of companies in the U.S. offer year-end bonuses. Fourth-quarter earnings (loss) per share (EPS) was $(0.16); non-GAAP EPS was $0.10. 2 Dividend Stocks With Yields Above 11%. You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) program. Charges related to the amortization of these intangibles are recorded within both cost of sales and MG&A in our US GAAP financial statements. The list of bullish arguments for Intel stock is now alarmingly low. Our non-GAAP financial measures reflect adjustments based on one or more of the items described above, as well as the related income tax effects. Intel's revenue totaled $79 . In the eyes of some investors, the last great reason to own Intel(INTC 1.60%) is gone. Management is cutting employee pay to control operating expenses. 0000061688 00000 n 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. January 13, 2021. Copies of these filings may be obtained by visiting our Investor Relations website at www.intc.com or the SEC's website at www.sec.gov. The pandemic has resulted in authorities imposing numerous measures to try to contain the virus, including manufacturing, transportation, and operational restrictions or disruptions, such as the Shanghai port shutdowns. On Intel 20A and Intel 18A, Intels first internal test chips, and those of a major potential foundry customer, have taped out with products undergoing fabrication. . 0000010409 00000 n The next Intel Corp. dividend went ex 22 days ago for 36.5c and will be paid tomorrow. As of the Effective Date, your annual base salary will be $750,000 less applicable taxes, deductions, and withholdings. Intel 7 is now in high-volume manufacturing for both client and server. Intel said it planned to spend between $19 billion and $20 billion on capital expenditures in 2021. As described in our explanation of non-GAAP measures above, and consistent with the use of our other non-GAAP adjustments, beginning in 2023 management uses this non-GAAP tax rate in managing internal short- and long-term operating plans and in evaluating our performance. Intel completed the IPO of Mobileye, which achieved record revenue for both the fourth quarter and full year of 2022. Starting with quarterly results, for the fourth quarter of 2021, Intel reported $20.5B in revenue, which is a small jump of 3% over the year-ago quarter. 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. INTC Capital Expenditures (TTM) data by YCharts. Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Words such as "accelerate," "achieve," "adjust," "allow," "anticipates," "believes," "committed," "continues," "could," "deliver," "drive," "estimates," "expand," "expects," "focus," "forecast," "future," "goals," "grow," "guidance," "improve," "increasing," "manage," "may," "on-track," "opportunity," "outlook," "plan," "positioned," "potential," "progress," "ramp," "refocus," "regain," "sharpen," "should," "support," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Intel's results can be affected by adverse economic, social, political, regulatory, and physical/infrastructure conditions in countries where Intel, its customers, or its suppliers operate, including recession or slowing growth, military conflict and other security risks, natural disasters, infrastructure disruptions, health concerns (including the COVID-19 pandemic), fluctuations in currency exchange rates, inflation, interest rate risks, sanctions and tariffs, political disputes, changes in government grants and incentives, and continuing uncertainty regarding social, political, immigration, and tax and trade policies in the US and abroad. We exclude gains or losses resulting from divestitures for purposes of calculating certain non-GAAP measures because they do not reflect our current operating performance. 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. We completed the first closing of the divestiture of our NAND memory business to SK hynix on December 29, 2021 and fully deconsolidated our ongoing interests in the NAND OpCo Business in the first quarter of 2022. We exclude the impacts of this 2022 change in US tax treatment of R&D costs for purposes of calculating certain non-GAAP measures as we believe these adjustments facilitate a better evaluation of our current operating performance and comparison to past operating results. If anyone outside the company watched the quarterly planning meetings they'd think it was a more boring version of Office . Intel earned $20.5 billion in the fourth quarter of 2021, exceeding its guidance by $1.3 billion and up 3% year-over-year (YoY). The corresponding earnings presentation and webcast replay will also be available on the site. 3. The live public webcast can be accessed on Intel's Investor Relations website at. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Variations in results can also be caused by the timing of Intel product introductions and related expenses, including marketing programs and Intel's ability to respond quickly to technological developments and to introduce new products or incorporate new features into existing products, as well as decisions to exit product lines or businesses, which have resulted and can result in restructuring and asset impairment charges. tral Intelligence or the Director of the Central Intel-ligence Agency in the Director's capacity as the head of the Central Intelligence Agency deemed to be a ref-erence to the Director of the Central Intelligence Agen-cy. 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. The pandemic has caused us to modify our business practices. Intel's results can be affected by gains or losses from equity securities and interest and other, which can vary depending on gains or losses on the change in fair value, sale, exchange, or impairments of equity and debt investments, interest rates, cash balances, and changes in fair value of derivative instruments. Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm. To learn more about Intels innovations, go to. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. Other names and brands may be claimed as the property of others. Reconciliations between GAAP and non-GAAP financial measures are included below.*. 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. Intels products and software are intended only to be used in applications that do not cause or contribute to a violation of an internationally recognized human right. Forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Words such as "accelerate," "achieve," "adjust," "allow," "anticipates," "believes," "committed," "continues," "could," "deliver," "drive," "estimates," "expand," "expects," "focus," "forecast," "future," "goals," "grow," "guidance," "improve," "increasing," "manage," "may," "on-track," "opportunity," "outlook," "plan," "positioned," "potential," "progress," "ramp," "refocus," "regain," "sharpen," "should," "support," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Non-GAAP earnings (loss) per sharediluted. 0000004033 00000 n In making these adjustments, we have not made any changes to our methods for measuring and calculating revenue or other financial statement amounts. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. // Your costs and results may vary. A public webcast of Intel's earnings conference call will follow at 2 p.m. PDT at www.intc.com. 0000020006 00000 n Can be quite demanding; heavy process, which often affects decision making or decisions made without overall understanding of impact to all areas affected. CCG includes products designed for end-user form factors, focusing on higher growth segments of 2 in 1, thin-and-light, commercial and gaming, and growing other products such as connectivity and graphics. 0000006574 00000 n Both factors have eliminated PC demand, which hits Intel's finances dead center. 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. For the full year, the company generated $15.4 billion in cash from operations and paid dividends of $6.0billion. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB program. Intel completed the IPO of Mobileye, which achieved record revenue for both the fourth quarter and full year of 2022. It is expected that the effective date for your new position will be July 6, 2021 ("Effective Date"). Intel's revenue has drastically fallen over the past year. This includes the reorganization of Intel's business units to capture this growth and provide increased transparency, focus and accountability. (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. Intel Corporation. We exclude these non-operating gains and losses for purposes of calculating certain non-GAAP measures because it provides better comparability between periods. 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. Market Data powered by QuoteMedia. 0000008327 00000 n Dear Patrick: Congratulations! Copies of these filings may be obtained by visiting our Investor Relations website at, Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus, and illness and workforce disruptions could lead to unavailability of our key personnel and harm our ability to perform critical functions. Sign in here. Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. 0000040250 00000 n 0000002351 00000 n 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 adjustments facilitate a useful evaluation of our current operating performance and comparisons to past operating results. It is doing this, the company says, by "reducing compensation and rewards programs for employees and executives." 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. Let's find out. Payout Frequency. 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