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INTEL CORP TABLE1 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION (Exact name of registrant as specified in its charter)
Delaware (State or other jurisdiction of incorporation or organization) 2200 Mission College Boulevard, Santa Clara, California (Address of principal executive offices)
(408) 765-8080
ed in its charter)
Created by EDGAR Online, Inc. INTEL CORP INCOME_STATEMENT Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)
(In Millions, Except Per Share Amounts) Net revenue Cost of sales Gross margin
Three Months Ended Sept. 29, Oct. 1, 2012 2011 $ 13,457 $ 14,233 4,942 5,215 8,515 9,018
Research and development Marketing, general and administrative Amortization of acquisition-related intangibles
2,605 1,995 74
2,140 2,017 76
Operating expenses
4,674
4,233
Operating income Gains (losses) on equity investments, net Interest and other, net
3,841 53 27
4,785 92 15
3,921 949
4,892 1,424
Net income
2,972
3,468
0.59
0.67
0.58
0.65
0.45
0.42
4,996 5,153
5,194 5,340
Nine Months Ended Sept. 29, Oct. 1, 2012 2011 $ 39,864 $ 40,112 14,530 15,307 25,334 24,805
13,851
11,927
11,483 81 105
12,878 95 221
11,669 3,132
13,194 3,612
8,537
9,582
1.71
1.80
1.65
1.75
0.87
0.78
5,006 5,181
5,317 5,466
Created by EDGAR Online, Inc. INTEL CORP TABLE2 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Three Months Ended Sept. 29, (In Millions) Net income Other comprehensive income, net of tax: Change in net unrealized holding gain (loss) on available-for-sale investments Change in net deferred tax asset valuation allowance Change in net unrealized holding gain (loss) on derivatives Change in net prior service costs Change in net actuarial losses Change in net foreign currency translation adjustment Other comprehensive income (loss) Total comprehensive income $ $ 2012 2,972
INCOME (Unaudited)
Oct. 1, $
Created by EDGAR Online, Inc. INTEL CORP BALANCE_SHEET Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited)
Sept. 29, (In Millions) Assets Current assets: Cash and cash equivalents Short-term investments Trading assets Accounts receivable, net Inventories Deferred tax assets Other current assets Total current assets 2012
Property, plant and equipment, net of accumulated depreciation of $37,009 ($34,446 as of December 31, 2011) Marketable equity securities Other long-term investments Goodwill Identified intangible assets, net Other long-term assets Total assets $
Liabilities and stockholders' equity Current liabilities: Short-term debt Accounts payable Accrued compensation and benefits Accrued advertising Deferred income Other accrued liabilities Total current liabilities
Long-term debt Long-term deferred tax liabilities Other long-term liabilities Contingencies (Note 21) Stockholders' equity: Preferred stock Common stock and capital in excess of par value, 4,982 shares issued and outstanding (5,000 as of December 31, 2011) Accumulated other comprehensive income (loss) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $
Created by EDGAR Online, Inc. INTEL CORP CASH_FLOW Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012
Created by EDGAR Online, Inc. INTEL CORP CASH_FLOW Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)
(In Millions) Cash and cash equivalents, beginning of period Cash flows provided by (used for) operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Share-based compensation Excess tax benefit from share-based payment arrangements Amortization of intangibles (Gains) losses on equity investments, net (Gains) losses on divestitures Deferred taxes Changes in assets and liabilities: Accounts receivable Inventories Accounts payable Accrued compensation and benefits Income taxes payable and receivable Other assets and liabilities Total adjustments Net cash provided by operating activities
Cash flows provided by (used for) investing activities: Additions to property, plant and equipment Acquisitions, net of cash acquired Purchases of available-for-sale investments Sales of available-for-sale investments Maturities of available-for-sale investments Purchases of trading assets Maturities and sales of trading assets Collection of loans receivable
Origination of loans receivable Investments in non-marketable equity investments Proceeds from the sale of IM Flash Singapore, LLP (IMFS) assets and certain IM Flash Technologies, LLC (IMFT) assets Return of equity method investments Purchases of licensed technology and patents Proceeds from divestitures Other investing Net cash used for investing activities
Cash flows provided by (used for) financing activities: Increase (decrease) in short-term debt, net Proceeds from government grants Excess tax benefit from share-based payment arrangements Issuance of long-term debt Proceeds from sales of shares through employee equity incentive plans Repurchase of common stock Payment of dividends to stockholders Other financing Net cash used for financing activities Effect of exchange rate fluctuations on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, end of period
Supplemental disclosures of cash flow information: Cash paid during the period for: Interest, net of capitalized interest Income taxes, net of refunds
8,537
9,582
4,716 830 (139) 801 (81) (42) (283) (1,198) 232 (588) 294 (221) 4,321 12,858
3,808 812 (28) 667 (95) (164) 589 (856) (110) 645 (651) 194 (60) 4,751 14,333
(216) (358)
(206) (569)
(1,545) $ 3,520 $
10 1,559 7,057
$ $
33 2,906
$ $
2,770
Created by EDGAR Online, Inc. INTEL CORP TABLE3 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION
NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS - Unaudited (Continued)
Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments as of September 29, 2012 and December 31, 2011:
(In Millions) Assets Cash equivalents: Bank deposits Commercial paper Government bonds Money market fund deposits Short-term investments: Bank deposits Commercial paper Corporate bonds Government bonds Trading assets: Asset-backed securities Bank deposits Corporate bonds Commercial paper Government bonds Money market fund deposits Municipal bonds Other current assets: Derivative assets Loans receivable Marketable equity securities Other long-term investments: Asset-backed securities Bank deposits
September 29, 2012 Fair Value Measured and Recorded at Reporting Date Using Level 1 Level 2
637 1,449 50 438 1,216 273 140 183 509 174 1,257 233 164 200 4 56
Corporate bonds Government bonds Other long-term assets: Derivative assets Loans receivable Total assets measured and recorded at fair value Liabilities Other accrued liabilities: Derivative liabilities Long-term debt Other long-term liabilities: Derivative liabilities Total liabilities measured and recorded at fair value
58 59 -
6,883
7,822
211 15
226
Level 3
Total
December 31, 2011 Fair Value Measured and Recorded at Reporting Date Using Level 1 Level 2
Level 3
Total
29 81 4 13 -
637 1,449 50 434 438 1,216 337 492 81 183 1,042 174 2,696 53 233 168 200 3,924 13 56
795 2,408 196 1,409 428 310 135 486 305 1,317 284 159 33 40 55
28 115 7 36 -
795 2,408 650 546 196 1,409 576 3,000 115 135 688 305 3,015 49 284 166 33 562 36 55
40 25 -
177 -
39 29 -
192
14,897
6,654
9,691
254
16,599
$2 128 -
213 128 15
280 $8 27
$ 131 -
288 131 27
130
356
307
139
446
Created by EDGAR Online, Inc. INTEL CORP TABLE4 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012
(In Millions) Non-marketable cost method investments Loans receivable Long-term debt NVIDIA Corporation cross-license agreement liability
Level 1 $ $ $ $ 5,500 -
(In Millions) Non-marketable cost method investments Loans receivable Long-term debt Short-term debt NVIDIA Corporation cross-license agreement liability
Level 1 $ $ $ $ $ 5,287 -
September 29, 2012 Fair Value Measured Using Level 2 $ $ $ $ December 31, 2011 Fair Value Measured Using Level 2 $ $ $ $ $ 132 2,448 200 1,174 150 2,942 889
Level 3 $ $ $ $ 1,697 56 -
Level 3 $ $ $ $ $ 1,861 -
Created by EDGAR Online, Inc. INTEL CORP TABLE5 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 6: Available-for-Sale Investments Available-for-sale investments as of September 29, 2012 and December 31, 2011 were as follows:
(In Millions) Asset-backed securities Bank deposits Commercial paper Corporate bonds Government bonds Marketable equity securities Money market fund deposits Total available-for-sale investments
September 29, 2012 Gross Adjusted Unrealized Cost Gains $ 15 $ 1,129 2 2,665 559 18 704 3,370 554 434 $ 8,876 $ 574
December 31, 2011 Gross Gross Unrealized Unrealized Fair Gains Losses Value 48 $ $ (12) $ 1,046 1 (1) 3,820 (3) 892 14 (9) 4,131 (4) 189 385 (12) 546 10,672 $ 400 $ (41) $
Created by EDGAR Online, Inc. INTEL CORP TABLE6 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 (In Millions) Due in 1 year or less Due in 1-2 years Due in 2-5 years Instruments not due at a single maturity date Total Cost $ Fair Value $ 4,619 372 84 447 $ 5,522
Created by EDGAR Online, Inc. INTEL CORP TABLE7 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Three Months Ended Sept. 29, (In Millions) Net unrealized holding gains (losses) included in other comprehensive income (loss) Net gains (losses) reclassified from accumulated other comprehensive income (loss) into earnings 2012 $ 206
83
Oct. 1, 2011 $
(47) $
203
109
291
Created by EDGAR Online, Inc. INTEL CORP TABLE8 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 7: Inventories
Inventories at the end of each period were as follows:
Sept. 29, (In Millions) Raw materials Work in process Finished goods Total inventories $
Dec. 31, 2012 614 $ 2,363 2,342 5,319 $ 2011 644 1,680 1,772 4,096
Created by EDGAR Online, Inc. INTEL CORP TABLE9 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Volume of Derivative Activity Total gross notional amounts for outstanding derivatives (recorded at fair value) were as follows:
Sept. 29, (In Millions) Currency forwards Currency interest rate swaps Currency options Embedded debt derivatives Equity options Interest rate swaps Total return swaps Other Total $
Dec. 31, Oct. 1, 2012 2011 10,158 $ 11,203 $ 2,574 1,650 1,751 2 3,600 3,600 45 54 1,132 1,837 920 761 111 126 20,291 $ 19,233 $
Created by EDGAR Online, Inc. INTEL CORP TABLE10 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Sept. 29, (In Millions) British pound sterling Chinese yuan Euro Israeli shekel Japanese yen Malaysian ringgit Other Total $ Dec. 31, 2012 312 $ 634 6,276 1,991 3,831 340 1,099 14,483 $ Oct. 1, 2011 459 $ 688 3,904 2,168 3,477 805 1,354 12,855 $
Created by EDGAR Online, Inc. INTEL CORP TABLE11 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS - Unaudited (Continued)
Fair Values of Derivative Instruments in the Consolidated Condensed Balance Sheets The fair values of our derivative instruments as of September 29, 2012 and December 31, 2011 were as follows:
(In Millions) Derivatives designated as hedging instruments Currency forwards Other Total derivatives designated as hedging instruments Derivatives not designated as hedging instruments Currency forwards Currency interest rate swaps Currency options Embedded debt derivatives Equity options Interest rate swaps Total return swaps Other Total derivatives not designated as hedging instruments Total derivatives
35 39 38 1 4 -
23 5 20
$ $
117 168
$ $
48 52
170 $7 1 171 $7
30 41 38 2 41 -
10 5 -
$ -
54 41
33 6
$ -
34 11
10 10
3 7 15 15 $ $ 105 166 $ $
24 63 63 $ $
9 63 117 288 $ $
20 27
$ $
152 213
$ $
Created by EDGAR Online, Inc. INTEL CORP TABLE12 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Derivatives in Cash Flow Hedging Relationships The before-tax effects of derivative instruments in cash flow hedging relationships for the three and nine months ended September 29, 2012 and October 1, 2011 were as follows:
Gains (Losses) Recognized Gains (Losses) Reclassified from Accumulated in OCI on Derivatives OCI into Income by Derivative Instrument Type (Effective Portion) (Effective Portion) Q3 2012 Q3 2011 Location $ 190 $ (101) Cost of sales Research and development
Marketing, general and administrative
Other Total $
1 191 $
(101)
Cost of sales
Gains (Losses) Recognized Gains (Losses) Reclassified from Accumulated in OCI on Derivatives OCI into Income by Derivative Instrument Type (Effective Portion) (Effective Portion) YTD 2012 YTD 2011 Location $ 75 $ 155 Cost of sales Research and development
Marketing, general and administrative
Other Total $
75 $
38 8 8 54
YTD 2012 YTD 2011 $ 16 $ 114 (61) 31 (24) 25 (1) 2 $ (70) $ 172
Created by EDGAR Online, Inc. INTEL CORP TABLE13 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION
NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS - Unaudited (Continued)
Derivatives Not Designated as Hedging Instruments The effects of derivative instruments not designated as hedging instruments on the consolidated condensed statements of income were as follows:
(In Millions) Currency forwards Currency interest rate swaps Currency options Equity options Interest rate swaps Total return swaps Other Total
Location of Gains (Losses) Recognized in Income on Derivatives Interest and other, net Interest and other, net Interest and other, net Gains (losses) on equity investments, net Interest and other, net Various Gains (losses) on equity investments, net
Created by EDGAR Online, Inc. INTEL CORP TABLE14 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 9: Other Long-Term Assets Other long-term assets at the end of each period were as follows:
Sept. 29, (In Millions) Equity method investments Non-marketable cost method investments Non-current deferred tax assets Loans receivable Other Total other long-term assets $
Dec. 31, 2012 1,010 $ 1,128 281 644 970 4,033 $ 2011 1,669 1,129 335 715 800 4,648
Created by EDGAR Online, Inc. INTEL CORP TABLE15 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 11: Gains (Losses) on Equity Investments, Net Gains (losses) on equity investments, net included:
Three Months Ended Sept. 29, (In Millions) Share of equity method investee losses, net Impairment charges Gains on sales, net Other, net Total gains (losses) on equity investments, net 2012 $ (30) (19) 63 39
53
Oct. 1, 2011 $
92
81
95
Created by EDGAR Online, Inc. INTEL CORP TABLE16 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 12: Interest and Other, Net The components of interest and other, net were as follows:
Three Months Ended Sept. 29, (In Millions) Interest income Interest expense Other, net Total interest and other, net $
Created by EDGAR Online, Inc. INTEL CORP TABLE17 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 14: Goodwill Goodwill activity for the first nine months of 2012 was as follows:
(In Millions) December 31, 2011 Additions due to acquisitions Impairments Effect of exchange rate fluctuations September 29, 2012
Other Intel Architecture PC Client Data Center Operating Group Group Segments $ 2,918 $ 1,553 $ 844 28 287 35 (6) $ 2,946 $ 1,840 $ 873
Created by EDGAR Online, Inc. INTEL CORP TABLE18 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 15: Identified Intangible Assets Identified intangible assets at the end of each period were as follows:
(In Millions) Acquisition-related developed technology Acquisition-related customer relationships Acquisition-related trade names Licensed technology and patents Identified intangible assets subject to amortization Acquisition-related trade names Other intangible assets Identified intangible assets not subject to amortization Total identified intangible assets
September 29, 2012 Accumulated Gross Assets Amortization $ 2,771 $ (976) 1,712 (479) 68 (30) 2,950 (845)
(2,330) -
$ $
1,050 8,551
$ $
(2,330)
Net $
$ $
1,050 6,221
Created by EDGAR Online, Inc. INTEL CORP TABLE19 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 December 31, 2011 Accumulated Amortization $ (570) (254) (21) (707)
(In Millions) Acquisition-related developed technology Acquisition-related customer relationships Acquisition-related trade names Licensed technology and patents Identified intangible assets subject to amortization Acquisition-related trade names Other intangible assets Identified intangible assets not subject to amortization Total identified intangible assets
(1,552) -
$ $
1,027 7,819
$ $
(1,552)
Net $
$ $
1,027 6,267
Created by EDGAR Online, Inc. INTEL CORP TABLE20 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS - Unaudited (Continued)
Three Months Ended Sept. 29, (In Millions) Acquisition-related developed technology Acquisition-related customer relationships Acquisition-related trade names Licensed technology and patents $ $ $3 $
2011 135 73 45
Created by EDGAR Online, Inc. INTEL CORP TABLE21 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Remainder of 2012 $ 140 $ 71 $3 $ 56
(In Millions) Acquisition-related developed technology Acquisition-related customer relationships Acquisition-related trade names Licensed technology and patents
$ $ $ $
$ $ $ $
$ $ $ $
$ $ $4 $
Created by EDGAR Online, Inc. INTEL CORP TABLE22 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 16: Deferred Income Deferred income at the end of each period was as follows:
Sept. 29, (In Millions) Deferred income on shipments of components to distributors Deferred income from software and services operating segments Current deferred income Non-current deferred income from software and services operating segments Total deferred income $ 2012 791 1,163 1,954 441 $ 2,395
Created by EDGAR Online, Inc. INTEL CORP TABLE23 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Three Months Ended Sept. 29, Estimated values Risk-free interest rate Dividend yield Volatility $ Nine Months Ended Sept. 29, 2011 21.37 $ 0.50% 3.60% 26% 2012 25.42 0.30% 3.30% 26%
Created by EDGAR Online, Inc. INTEL CORP TABLE24 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Stock Options Three Months Ended Sept. 29, Estimated values Expected life (in years) Risk-free interest rate Volatility Dividend yield $ Oct. 1, 2012 3.97 $ 5.30 0.70% 27% 3.50% Nine Months Ended Sept. 29, 2011 3.82 $ 5.40 1.70% 26% 3.60% 2012 4.26 5.30 1.00% 25% 3.20%
Stock Purchase Plan Oct. 1, $ Three Months Ended Sept. 29, 2011 3.88 $ 5.30 2.20% 26% 3.40% Oct. 1, 2012 5.42 $ 0.50 0.20% 24% 3.50% Nine Months Ended Sept. 29, 2011 4.90 $ 0.50 0.20% 28% 3.70% 2012 5.47 0.50 0.10% 24% 3.30%
Created by EDGAR Online, Inc. INTEL CORP TABLE25 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Restricted Stock Unit Awards Activity with respect to outstanding restricted stock units (RSUs) for the first nine months of 2012 was as follows:
(In Millions, Except Per RSU Amounts) December 31, 2011 Granted Vested Forfeited September 29, 2012
Weighted Average Grant-Date Fair Value $ 19.18 $ 25.42 $ 18.81 $ 20.58 $ 21.99
Created by EDGAR Online, Inc. INTEL CORP TABLE26 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION
NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS - Unaudited (Continued)
Stock Option Awards Activity with respect to outstanding stock options for the first nine months of was as follows:
2012
(In Millions, Except Per Option Amounts) December 31, 2011 Granted Exercised Cancelled and forfeited Expired September 29, 2012 Options exercisable as of: December 31, 2011 September 29, 2012
Weighted Average Exercise Price $ 20.12 $ 27.17 $ 20.63 $ 21.08 $ 28.94 $ 20.16
203.60 140.10
$ $
20.44 19.88
Created by EDGAR Online, Inc. INTEL CORP STOCKHOLDERS_EQUITY Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS - Unaudited (Continued)
Note 19: Earnings Per Share We computed our basic and diluted earnings per common share as follows:
Three Months Ended Sept. 29, (In Millions, Except Per Share Amounts) Net income available to common stockholders Weighted average common shares outstanding basic Dilutive effect of employee equity incentive plans Dilutive effect of convertible debt Weighted average common shares outstanding diluted Basic earnings per common share Diluted earnings per common share $ $ $ 2012 2,972
4,996 93 64
Unaudited (Continued)
Oct. 1, $
2011 9,582
5,194 93 53
5,006 109 66
5,317 96 53
Created by EDGAR Online, Inc. INTEL CORP TABLE27 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 20: Comprehensive Income The components of accumulated other comprehensive income, net of tax, at the end of each period, as well as the activity, were as follows:
Dec. 31, (In Millions) Accumulated net unrealized holding gain (loss) on available-for-sale investments Accumulated net deferred tax asset valuation allowance Accumulated net unrealized holding gain (loss) on derivatives Accumulated net prior service costs Accumulated net actuarial losses Accumulated net foreign currency translation adjustment Total accumulated other comprehensive income (loss) 2011 $ 231 104 8 (32) (950) (142)
(781)
280
(501)
Created by EDGAR Online, Inc. INTEL CORP TABLE28 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Note 22: Operating Segment Information Our operating segments in effect as of September 29, 2012 include: PC Client Group Data Center Group Other Intel architecture operating segments Intelligent Systems Group Netbook Group Intel Mobile Communications Tablet Group Phone Group Service Provider Group Software and services operating segments McAfee Wind River Software Group Software and Services Group All Other Non-Volatile Memory Solutions Group
Created by EDGAR Online, Inc. INTEL CORP TABLE29 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 INTEL CORPORATION NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS - Unaudited (Continued)
Three Months Ended Sept. 29, (In Millions) Net revenue PC Client Group Data Center Group Other Intel architecture operating segments Software and services operating segments All other Total net revenue Operating income (loss) PC Client Group Data Center Group Other Intel architecture operating segments Software and services operating segments All other Total operating income 2012 $ 8,633 2,654 1,177 588 405 13,457
- Unaudited (Continued)
Nine Months Ended Sept. 29, 2012 $ 25,768 7,911 3,360 1,745 1,080 39,864
Created by EDGAR Online, Inc. INTEL CORP TABLE30 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Overview Our results of operations were as follows:
(Dollars in Millions, Except Per Share Amounts) Net revenue Gross margin Gross margin percentage Operating income Net income Diluted earnings per common share
Created by EDGAR Online, Inc. INTEL CORP TABLE31 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Results of Operations - Third Quarter of 2012 Compared to Third Quarter of 2011 The following table sets forth certain consolidated condensed statements of income data as a percentage of net revenue for the periods indicated:
Q3 2012 (Dollars in Millions, Except Per Share Amounts) Net revenue Cost of sales Gross margin Research and development Marketing, general and administrative Amortization of acquisition-related intangibles Operating income Gains (losses) on equity investments, net Interest and other, net Income before taxes Provision for taxes Net income $ Dollars $ % of Net Revenue 13,457 100.00% 4,942 36.70% 8,515 2,605 1,995 74 3,841 53 27 3,921 949 2,972 63.30% 19.40% 14.90% 0.50% 28.50% 0.40% 0.20% 29.10% 7.00% 22.10%
0.58
Q3 2011 Dollars $ % of Net Revenue 14,233 100.00% 5,215 36.60% 9,018 2,140 2,017 76 4,785 92 15 4,892 1,424 $ 3,468 63.40% 15.00% 14.30% 0.50% 33.60% 0.70% 0.10% 34.40% 10.00% 24.40%
0.65
Created by EDGAR Online, Inc. INTEL CORP TABLE32 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Q3 2012 (Dollars in Millions) Asia-Pacific Americas Europe Japan Total Revenue $ % of Total 7,695 2,852 1,775 1,135 13,457 Q3 2011 Revenue 57% $ 21% 13% 9% 100% $ % of Total 8,050 3,017 1,814 1,352 14,233 57% 21% 13% 9% 100%
Created by EDGAR Online, Inc. INTEL CORP TABLE33 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 PC Client Group
The revenue and operating income for the PC Client Group (PCCG) operating
Created by EDGAR Online, Inc. INTEL CORP TABLE34 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Data Center Group
The revenue and operating income for the Data Center Group (DCG) operating
Created by EDGAR Online, Inc. INTEL CORP TABLE35 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Other Intel Architecture Operating Segments The revenue and operating loss for the other Intel architecture (Other IA) operating segments, including the Intelligent Systems Group (ISG), the Netbook Group, IMC, the Tablet Group, the Phone Group, and the Service Provider Group (SVPG), for Q3 2012 and Q3 2011 were as follows:
Created by EDGAR Online, Inc. INTEL CORP TABLE36 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Software and Services Operating Segments The revenue and operating income for the Software and Services operating segments, including McAfee, Wind River Software Group, and Software and Services Group, for Q3 2012 and Q3 2011 were as follows:
Created by EDGAR Online, Inc. INTEL CORP TABLE37 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Operating Expenses Operating expenses for Q3 2012 and Q3 2011 were as follows:
(In Millions) Research and development Marketing, general and administrative Amortization of acquisition-related intangibles
Created by EDGAR Online, Inc. INTEL CORP TABLE38 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Gains (Losses) on Equity Investments and Interest and Other Gains (losses) on equity investments, net and interest and other, net were as follows:
(In Millions) Gains (losses) on equity investments, net Interest and other, net
Q3 2012 Q3 2011 $ 53 $ 92 $ 27 $ 15
Created by EDGAR Online, Inc. INTEL CORP TABLE39 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Provision for Taxes Our provision for taxes and effective tax rate were as follows:
(Dollars in Millions) Income before taxes Provision for taxes Effective tax rate
Created by EDGAR Online, Inc. INTEL CORP TABLE40 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 YTD 2012 (Dollars in Millions, Except Per Share Amounts) Net revenue Cost of sales Gross margin Research and development Marketing, general and administrative Amortization of acquisition-related intangibles Operating income Gains (losses) on equity investments, net Interest and other, net Income before taxes Provision for taxes Net income $ Dollars $ % of Net Revenue 39,864 100.00% 14,530 36.40% 25,334 7,519 6,099 233 11,483 81 105 11,669 3,132 8,537 63.60% 18.90% 15.30% 0.60% 28.80% 0.20% 0.30% 29.30% 7.90% 21.40%
1.65
YTD 2011 Dollars $ % of Net Revenue 40,112 100.00% 15,307 38.20% 24,805 6,042 5,697 188 12,878 95 221 13,194 3,612 $ 9,582 61.80% 15.10% 14.10% 0.50% 32.10% 0.20% 0.60% 32.90% 9.00% 23.90%
1.75
Created by EDGAR Online, Inc. INTEL CORP TABLE41 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 YTD 2012 (Dollars in Millions) Asia-Pacific Americas Europe Japan Total Revenue $ 22,836 8,288 5,205 3,535 $ 39,864 % of Total YTD 2011 % of Revenue Total 57% $ 22,703 57% 21% 8,641 22% 13% 5,023 12% 9% 3,745 9% 100% $ 40,112 100%
Created by EDGAR Online, Inc. INTEL CORP TABLE42 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 PC Client Group
The revenue and operating income for the PCCG operating segment for the first
nine months of 2012 and the first nine months of 2011 were as follows:
Created by EDGAR Online, Inc. INTEL CORP TABLE43 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Data Center Group
The revenue and operating income for the DCG operating segment for the first
nine months of 2012 and the first nine months of 2011 were as follows:
Created by EDGAR Online, Inc. INTEL CORP TABLE44 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Other Intel Architecture Operating Segments The revenue and operating loss for the Other IA operating segments, including ISG, the Netbook Group, IMC, the Tablet Group, the Phone Group, and SVPG, for the first nine months of 2012 and the first nine months of 2011 were as follows:
Created by EDGAR Online, Inc. INTEL CORP TABLE45 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Software and Services Operating Segments The revenue and operating income (loss) for the Software and Services operating segments, including McAfee, Wind River Software Group, and Software and Services Group, for the first nine months of 2012 and the first nine months of 2011 were as follows:
Created by EDGAR Online, Inc. INTEL CORP TABLE46 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Operating Expenses Operating expenses for the first nine months of 2012 and the first nine months of 2011 were as follows:
(In Millions) Research and development Marketing, general and administrative Amortization of acquisition-related intangibles
YTD 2012 YTD 2011 $ 7,519 $ 6,042 $ 6,099 $ 5,697 $ 233 $ 188
Created by EDGAR Online, Inc. INTEL CORP TABLE47 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Gains (Losses) on Equity Investments and Interest and Other Gains (losses) on equity investments, net and interest and other, net were as follows:
(In Millions) Gains (losses) on equity investments, net Interest and other, net
Created by EDGAR Online, Inc. INTEL CORP TABLE48 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Provision for Taxes Our provision for taxes and effective tax rate were as follows:
(Dollars in Millions) Income before taxes Provision for taxes Effective tax rate
YTD 2012 YTD 2011 $ 11,669 $ 13,194 $ 3,132 $ 3,612 26.80% 27.40%
Created by EDGAR Online, Inc. INTEL CORP TABLE49 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Liquidity and Capital Resources
Sept. 29, (Dollars in Millions) Cash and cash equivalents, short-term investments, and marketable debt instruments included in trading assets Loans receivable and other long-term investments Short-term and long-term debt Debt as % of stockholders' equity 2012 $ $ $ 10,465 1,445 7,156 14.50%
Created by EDGAR Online, Inc. INTEL CORP TABLE50 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Nine Months Ended Sept. 29, (In Millions) Net cash provided by operating activities Net cash used for investing activities Net cash used for financing activities Effect of exchange rate fluctuations on cash and cash equivalents Net increase (decrease) in cash and cash equivalents $ 2012 12,858 (8,728) (5,675) (1,545)
Created by EDGAR Online, Inc. INTEL CORP TABLE51 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Dollar Value of Total Number Shares that May of Shares Average Price Yet Be Purchased Purchased Paid per Share Under the 12.30 $ 25.62 26.70 $ 25.05 7.40 $ 24.44 46.40 $ 25.10
Period July 1, 2012-July 28, 2012 July 29, 2012-August 25, 2012 August 26, 2012-September 29, 2012 Total
Dollar Value of Shares that May Yet Be Purchased Plans $ 7,182 $ 6,513 $ 6,332 $ 6,332
Created by EDGAR Online, Inc. INTEL CORP TABLE52 Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Incorporated by Reference Exhibit Number
Exhibit Description
Exhibit 3.10
3.10 Intel Corporation Third Restated Certificate of Incorporation of Intel Corporation dated May 17, 2006 3.20 Intel Corporation Bylaws, as amended and restated on July 26, 2011 12.10 Statement Setting Forth the Computation of Ratios of Earnings to Fixed Charges 31.10 Certification of Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended (the Exchange Act) 31.20 Certification of Chief Financial Officer and Principal Accounting Officer pursuant to Rule 13a-14(a) of the Exchange Act 32.10 Certification of the Chief Executive Officer and the Chief Financial Officer and Principal Accounting Officer pursuant to Rule 13a-14(b) of the Exchange Act and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 101.INS 101.SCH XBRL Instance Document XBRL Taxonomy Extension Schema Document XBRL Taxonomy Extension
8-K
000-06217
3.10
101.CAL
Calculation Linkbase Document 101.DEF XBRL Taxonomy Extension Definition Linkbase Document XBRL Taxonomy Extension Label Linkbase Document XBRL Taxonomy Extension Presentation Linkbase Document
101.LAB
101.PRE
7/27/2011
X X
Created by EDGAR Online, Inc. INTEL CORP RATIO_COMPUTATION Form Type: 10-Q Period End: Sep 29, 2012 Date Filed: Oct 31, 2012 Exhibit 12.1 INTEL CORPORATION STATEMENT SETTING FORTH THE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (In Millions, Except Ratios)
Nine Months Ended Sept. 29, 2012 Earnings1 Adjustments: Add - Fixed charges Subtract - Capitalized interest Earnings and fixed charges (net of capitalized interest) $ 11,809 267 (171) $ 11,905
Fixed charges: Interest2 Capitalized interest Estimated interest component of rental expense Total Ratio of earnings before taxes and fixed charges, to fixed charges
66 171 30 267
45x
$6 98 51 $ 155
87x