Adjustments for Tax Reform reflect the impact of a change in tax law from 2017 Tax Reform related to the capitalization of R&D costs. These adjustments facilitate a useful evaluation of our core operating performance and comparisons to past operating results and provide investors with additional means to evaluate expense trends. 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. While the second closing of the sale is still pending and subject to closing conditions, we deconsolidated this business in Q1 2022 and management does not view the historical results of the business as a part of our core operations. The previous Intel Corp. dividend was 36.5c and it went ex 4 months ago and it was paid 3 months ago. Dear Patrick: Congratulations! 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. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB program. The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. Intel will hold a public webcast at 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2022. Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects where applicable. 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. One of the items Intel brought up in its announcement to cut the dividend was its cost-savings initiatives. 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. Intel's results can vary significantly from expectations based on capacity utilization; variations in inventory valuation, including variations related to the timing of qualifying products for sale; changes in revenue levels; segment product mix; the timing and execution of the manufacturing ramp and associated costs; excess or obsolete inventory; changes in unit costs; defects or disruptions in the supply of materials or resources, including as a result of ongoing industry shortages of components and substrates; suppliers extending lead times, experiencing capacity constraints, limiting or canceling supply, allocating supply to other customers including competitors, delaying or canceling deliveries or increasing prices, or other supply chain issues; product manufacturing quality/yields; and changes in capital requirements and investment plans. 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. A public webcast of Intel's earnings conference call will follow at 2 p.m. PDT at www.intc.com. 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. Security vulnerabilities and any limitations of, or adverse effects resulting from, mitigation techniques can adversely affect our results of operations, financial condition, customer relationships, prospects, and reputation in a number of ways, any of which may be material, including incurring significant costs related to developing and deploying updates and mitigations, writing down inventory value, a reduction in the competitiveness of our products, defending against product claims and litigation, responding to regulatory inquiries or actions, paying damages, addressing customer satisfaction considerations, or taking other remedial steps with respect to third parties. You can easily search the entire Intel.com site in several ways. The corresponding earnings presentation and webcast replay will also be available on the site. Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. Intel peak revenue was $79.0B in 2021. Intel annual revenue for 2021 was $79.0B, a 1.49% growth from 2020. If you treat them right, you'll get the most out of them. Other names and brands may be claimed as the property of others. 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. 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. First, the economic outlook isn't the greatest, so consumers aren't rushing to upgrade their electronics. 0000005666 00000 n 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. Do you work for Intel? 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 Corporation. 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 reconciliations from US GAAP to Non-GAAP actuals should be carefully evaluated. Most Recent Quarter Revenue. 2200 Mission College Blvd. Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $957 million and diluted earnings per share (EPS) of $1.58 for the quarter ended Feb. 3, 2023, compared to diluted EPS of $1.78 in . Outlook contemplates the change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate. 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. Accordingly, the consumer graphics teams will join CCG, and the accelerated computing teams will join DCAI. 0000005213 00000 n 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. 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 . 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. Full-year EPS was $1.94; non-GAAP EPS was $1.84. Bonuses posted anonymously by Intel Corporation employees. The impact of the pandemic can also exacerbate other risks discussed in this section. In the fourth quarter,Intel posted a $700 million loss, driven by revenue falling 32%. This includes the reorganization of Intel's business units to capture this growth and provide increased transparency, focus and accountability. 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. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll before the cutoff date for each three-month bonus period . 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. 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. The impact of the pandemic can also exacerbate other risks discussed in this section. 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. 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