Sign in or join
With Google
or
Join us
Didn't receive confirmation?
Resend
Thanks for registering. Please click on the confirm link in the email we just sent you.
Continue
Reset password
Resend confirmation
Post as Guest
+
Be part of the collaborative process!

Add a note by highlighting text or Replying to an existing note.

Okay
+
Be part of the collaborative process!

Add a note by highlighting text or Replying to an existing note.

Okay
Earnings Release Q3 2014
Exhibit 99.1

Intel Corporation
2200 Mission College Blvd.
Santa Clara, CA 95054-1549
News Release

Intel Reports Record Quarterly Revenue of $14.6 Billion

News Highlights:
•
Third-Quarter revenue of $14.6 billion, up $1.1 billion or 8 percent year-over-year
•
Record quarterly unit shipments of PCs, servers, tablets, phones and Internet of Things, the first time Intel has shipped more than 100 million microprocessors in a quarter
•
Operating income of $4.5 billion, up 30 percent year-over-year
•
Completed $4.2 billion share repurchase
  
SANTA CLARA, Calif., October 14, 2014 -- Intel Corporation today reported third-quarter revenue of $14.6 billion, operating income of $4.5 billion, net income of $3.3 billion and EPS of $0.66. The company generated approximately $5.7 billion in cash from operations, paid dividends of $1.1 billion and used $4.2 billion to repurchase 122 million shares of stock.

“We are pleased by the progress the company is making,” said Intel CEO Brian Krzanich. “We achieved our best-ever revenue and strong profits in the third quarter.  There is more to do, but our results give us confidence that we’re successfully executing to our strategy of extending our products across a broad range of exciting new markets.”

Q3 Key Business Unit Trends
•
PC Client Group revenue of $9.2 billion, up 6 percent sequentially and up 9 percent year-over-year.
•
Data Center Group revenue of $3.7 billion, up 5 percent sequentially and up 16 percent year-over-year.    
•
Internet of Things Group revenue of $530 million, down 2 percent sequentially and up 14 percent year-over-year.
•
Mobile and Communications Group revenue of $1 million, consistent with expectations.
•
Software and services operating segments revenue of $558 million, up 2 percent sequentially and up 2 percent year-over-year.



- more -
Intel/Page 2


Financial Comparison
Quarterly
 
Q3 2014
Q2 2014
vs. Q2 2014
Revenue
$14.6 billion
$13.8 billion
up 5%
Gross Margin
65.0%
64.5%
up 0.5 point
R&D and MG&A
$4.8 billion
$4.9 billion
down 2%
Operating Income
$4.5 billion
$3.8 billion
up 18%
Tax Rate
27.1%
28.7%
down 1.6 points
Net Income
$3.3 billion
$2.8 billion
up 19%
Earnings Per Share
66 cents
55 cents
up 20%

Financial Comparison
Year-Over-Year
 
Q3 2014
Q3 2013
vs. Q3 2013
Revenue
$14.6 billion
$13.5 billion
up 8%
Gross Margin
65.0%
62.4%
up 2.6 points
R&D and MG&A
$4.8 billion
$4.7 billion
up 2%
Operating Income
$4.5 billion
$3.5 billion
up 30%
Tax Rate
27.1%
24.8%
up 2.3 points
Net Income
$3.3 billion
$3.0 billion
up 12%
Earnings Per Share
66 cents
58 cents
up 14%



Business Outlook
Intel’s Business Outlook does not include the potential impact of any business combinations, asset acquisitions, divestitures, strategic investments and other significant transactions that may be completed after October 14.

Q4 2014
•
Revenue: $14.7 billion, plus or minus $500 million.
•
Gross margin percentage: 64 percent, plus or minus a couple of percentage points.
•
R&D plus MG&A spending: approximately $4.9 billion.
•
Restructuring charges: approximately $45 million.
•
Amortization of acquisition-related intangibles: approximately $65 million.
•
Impact of equity investments and interest and other: approximately $175 million net gain.
•
Depreciation: approximately $1.9 billion.
•
Tax rate: approximately 28 percent.
•
Full-year capital spending: $11.0 billion, plus or minus $500 million.

For additional information regarding Intel’s results and Business Outlook, please see the CFO commentary at: www.intc.com/results.cfm.

Status of Business Outlook
Intel’s Business Outlook is posted on intc.com and may be reiterated in public or private meetings with investors and others. The Business Outlook will be effective through the close of business on

- more -
Intel/Page 3


December 12 unless earlier updated; except that the Business Outlook for amortization of acquisition-related intangibles, impact of equity investments and interest and other, restructuring charges, and tax rate, will be effective only through the close of business on October 21. Intel’s Quiet Period will start from the close of business on December 12 until publication of the company’s fourth-quarter earnings release, scheduled for January 15. During the Quiet Period, all of the Business Outlook and other forward-looking statements disclosed in the company’s news releases and filings with the SEC should be considered as historical, speaking as of prior to the Quiet Period only and not subject to an update by the company.


Risk Factors
The above statements and any others in this document that refer to plans and expectations for the fourth quarter, the year and the future are forward-looking statements that involve a number of risks and uncertainties. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “should” and their variations identify forward-looking statements. Statements that refer to or are based on projections, uncertain events or assumptions also identify forward-looking statements. Many factors could affect Intel’s actual results, and variances from Intel’s current expectations regarding such factors could cause actual results to differ materially from those expressed in these forward-looking statements. Intel presently considers the following to be important factors that could cause actual results to differ materially from the company’s expectations.
•
Demand for Intel's products is highly variable. Demand could be different from Intel's expectations due to factors including changes in business and economic conditions; consumer confidence or income levels; customer acceptance of Intel’s and competitors’ products; competitive and pricing pressures, including actions taken by competitors; supply constraints and other disruptions affecting customers; changes in customer order patterns including order cancellations; and changes in the level of inventory at customers.
•
Intel's gross margin percentage could 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; and product manufacturing quality/yields. Variations in gross margin may also be caused by the timing of Intel product introductions and related expenses, including marketing expenses, and Intel's ability to respond quickly to technological developments and to introduce new products or incorporate new features into existing products, which may result in restructuring and asset impairment charges.
•
Intel operates in highly competitive industries and its operations have high costs that are either fixed or difficult to reduce in the short term.
•
The amount, timing and execution of Intel's stock buyback program could be affected by changes in Intel's priorities for the use of cash, such as operational spending, capital spending, acquisitions, and because of changes to Intel's cash flows and changes in tax laws.
•
The tax rate expectation is based on current tax law and current expected income. The tax rate may be affected by the jurisdictions in which profits are determined to be earned and taxed; 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.
•
Gains or losses from equity securities and interest and other could vary from expectations depending on gains or losses on the sale, exchange, change in the fair value or impairments of debt and equity investments; interest rates; cash balances; and changes in fair value of derivative instruments.

- more -
Intel/Page 4


•
Intel's results could be affected by adverse economic, social, political and physical/infrastructure conditions in countries where Intel, its customers or its suppliers operate, including military conflict and other security risks, natural disasters, infrastructure disruptions, health concerns and fluctuations in currency exchange rates.
•
Intel’s results could be affected by the timing of closing of acquisitions, divestitures and other significant transactions.
•
Intel's results could be affected by adverse effects associated with product defects and errata (deviations from published specifications), and by litigation or regulatory matters involving intellectual property, stockholder, consumer, antitrust, disclosure and other issues. An unfavorable ruling could include monetary damages or an injunction prohibiting Intel from manufacturing or selling one or more products, precluding particular business practices, impacting Intel’s ability to design its products, or requiring other remedies such as compulsory licensing of intellectual property.

A detailed discussion of these and other factors that could affect Intel’s results is included in Intel’s SEC filings, including the company’s most recent reports on Form 10-K and Form 10-Q.


Earnings Webcast
Intel will hold a public webcast at 2 p.m. PDT today on its Investor Relations website at www.intc.com. A webcast replay and MP3 download will also be available on the site.

Intel plans to report its earnings for the fourth quarter of 2014 on January 15. Immediately following the earnings report, the company plans to publish a commentary by Stacy J. Smith, Intel CFO and executive vice president, at www.intc.com/results.cfm. A public webcast of Intel’s earnings conference call will follow at 2 p.m. PDT at www.intc.com.

About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. As a leader in corporate responsibility and sustainability, Intel also manufactures the world's first commercially available "conflict-free" microprocessors. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com and about Intel's conflict-free efforts at conflictfree.intel.com.



Intel, the Intel logo and Core are trademarks of Intel Corporation in the United States and other countries.
*Other names and brands may be claimed as the property of others.




- more -
Intel/Page 5


INTEL CORPORATION
CONSOLIDATED SUMMARY STATEMENT OF INCOME DATA
(In millions, except per share amounts)

 
 
Three Months Ended
 
Nine Months Ended
 
 
Sep 27,
2014
 
Sep 28,
2013
 
Sep 27,
2014
 
Sep 28,
2013
NET REVENUE
 
$
14,554

 
$
13,483

 
$
41,149

 
$
38,874

Cost of sales
 
5,096

 
5,069

 
15,161

 
15,924

GROSS MARGIN
 
9,458

 
8,414

 
25,988

 
22,950

 
 
 
 
 
 
 
 
 
Research and development
 
2,842

 
2,742

 
8,547

 
7,785

Marketing, general and administrative
 
1,979

 
1,970

 
6,087

 
6,082

R&D AND MG&A
 
4,821

 
4,712

 
14,634

 
13,867

Restructuring and asset impairment charges
 
20

 
124

 
238

 
124

Amortization of acquisition-related intangibles
 
77

 
74

 
222

 
217

OPERATING EXPENSES
 
4,918

 
4,910

 
15,094

 
14,208

OPERATING INCOME
 
4,540

 
3,504

 
10,894

 
8,742

Gains (losses) on equity investments, net
 
35

 
452

 
178

 
437

Interest and other, net
 
(25
)
 
(32
)
 
70

 
(119
)
INCOME BEFORE TAXES
 
4,550

 
3,924

 
11,142

 
9,060

Provision for taxes
 
1,233

 
974

 
3,099

 
2,065

NET INCOME
 
$
3,317

 
$
2,950

 
$
8,043

 
$
6,995

 
 
 
 
 
 
 
 
 
BASIC EARNINGS PER COMMON SHARE
 
$
0.68

 
$
0.59

 
$
1.63

 
$
1.41

DILUTED EARNINGS PER COMMON SHARE
 
$
0.66

 
$
0.58

 
$
1.58

 
$
1.37

 
 
 
 
 
 
 
 
 
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
 
 
 
 
 
 
 
 
BASIC
 
4,880

 
4,981

 
4,945

 
4,969

DILUTED
 
5,045

 
5,100

 
5,095

 
5,095



- more -
Intel/Page 6


INTEL CORPORATION
CONSOLIDATED SUMMARY BALANCE SHEET DATA
(In millions)
 
 
Sep 27,
2014
 
Jun 28,
2014
 
Dec 28,
2013
CURRENT ASSETS
 
 
 
 
 
 
Cash and cash equivalents
 
$
3,143

 
$
3,049

 
$
5,674

Short-term investments
 
3,451

 
4,491

 
5,972

Trading assets
 
9,000

 
9,771

 
8,441

Accounts receivable, net
 
3,647

 
3,489

 
3,582

Inventories
 
 
 
 
 
 
Raw materials
 
496

 
503

 
458

Work in process
 
2,292

 
2,071

 
1,998

Finished goods
 
1,327

 
1,369

 
1,716

 
 
4,115

 
3,943

 
4,172

Deferred tax assets
 
2,168

 
2,255

 
2,594

Other current assets
 
2,439

 
2,008

 
1,649

TOTAL CURRENT ASSETS
 
27,963

 
29,006

 
32,084

 
 
 
 
 
 
 
Property, plant and equipment, net
 
33,135

 
33,115

 
31,428

Marketable equity securities
 
6,514

 
6,044

 
6,221

Other long-term investments
 
2,153

 
2,184

 
1,473

Goodwill
 
10,556

 
10,621

 
10,513

Identified intangible assets, net
 
4,379

 
4,697

 
5,150

Other long-term assets
 
6,394

 
6,126

 
5,489

TOTAL ASSETS
 
$
91,094

 
$
91,793

 
$
92,358

 
 
 
 
 
 
 
CURRENT LIABILITIES
 
 
 
 
 
 
Short-term debt
 
$
79

 
$
14

 
$
281

Accounts payable
 
2,597

 
2,960

 
2,969

Accrued compensation and benefits
 
2,931

 
2,409

 
3,123

Accrued advertising
 
1,100

 
1,067

 
1,021

Deferred income
 
2,189

 
2,171

 
2,096

Other accrued liabilities
 
4,923

 
3,630

 
4,078

TOTAL CURRENT LIABILITIES
 
13,819

 
12,251

 
13,568

 
 
 
 
 
 
 
Long-term debt
 
13,188

 
13,180

 
13,165

Long-term deferred tax liabilities
 
4,029

 
4,187

 
4,397

Other long-term liabilities
 
3,070

 
2,928

 
2,972

Stockholders' equity
 
 
 
 
 
 
Preferred Stock
 
—

 
—

 
—

Common stock and capital in excess of par value
 
22,809

 
22,475

 
21,536

Accumulated other comprehensive income (loss)
 
946

 
1,120

 
1,243

Retained Earnings
 
33,233

 
35,652

 
35,477

TOTAL STOCKHOLDERS' EQUITY
 
56,988

 
59,247

 
58,256

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
 
$
91,094

 
$
91,793

 
$
92,358




- more -
Intel/Page 7


INTEL CORPORATION
SUPPLEMENTAL FINANCIAL AND OTHER INFORMATION
(In millions)
 
 
Q3 2014
 
Q2 2014
 
Q3 2013
CASH INVESTMENTS:
 
 
 
 
 
 
Cash and short-term investments
 
$
6,594

 
$
7,540

 
$
11,373

Trading assets
 
9,000

 
9,771

 
7,773

Total cash investments
 
$
15,594

 
$
17,311

 
$
19,146

 
 
 
 
 
 
 
CURRENT DEFERRED INCOME:
 
 
 
 
 
 
Deferred income on shipments of components to distributors
 
$
992

 
$
951

 
$
891

Deferred income from software and services group
 
1,197

 
1,220

 
1,202

Total current deferred income
 
$
2,189

 
$
2,171

 
$
2,093

 
 
 
 
 
 
 
SELECTED CASH FLOW INFORMATION:
 
 
 
 
 
 
Depreciation
 
$
1,891

 
$
1,880

 
$
1,729

Share-based compensation
 
$
281

 
$
303

 
$
268

Amortization of intangibles
 
$
307

 
$
290

 
$
292

Capital spending*
 
$
(2,445
)
 
$
(2,828
)
 
$
(2,866
)
Net cash (used)/received for acquisitions/divestitures
 
$
(56
)
 
$
(29
)
 
$
(498
)
Investments in non-marketable equity instruments
 
$
(215
)
 
$
(971
)
 
$
(133
)
Stock repurchase program
 
$
(4,166
)
 
$
(2,081
)
 
$
(536
)
Proceeds from sales of shares to employees & excess tax benefit
 
$
605

 
$
584

 
$
272

Dividends paid
 
$
(1,095
)
 
$
(1,126
)
 
$
(1,121
)
 
 
 
 
 
 
 
EARNINGS PER COMMON SHARE INFORMATION:
 
 
 
 
 
 
Weighted average common shares outstanding - basic
 
4,880

 
4,981

 
4,981

Dilutive effect of employee equity incentive plans
 
76

 
68

 
60

Dilutive effect of convertible debt
 
89

 
74

 
59

Weighted average common shares outstanding - diluted
 
5,045

 
5,123

 
5,100

 
 
 
 
 
 
 
STOCK BUYBACK:
 
 
 
 
 
 
Shares repurchased
 
119

 
76

 
24

Cumulative shares repurchased (in billions)
 
4.6

 
4.5

 
4.3

Remaining dollars authorized for buyback (in billions)
 
$
16.4

 
$
0.5

 
$
3.7

 
 
 
 
 
 
 
OTHER INFORMATION:
 
 
 
 
 
 
Employees (in thousands)
 
105.6

 
104.9

 
107.2


* $135 million of equipment received in the first nine months of 2014 is excluded from capital spending. The majority of this equipment was prepaid in 2010 and 2011, and was reflected as cash from operations in the respective periods in which the cash was paid.


- more -
Intel/Page 8


INTEL CORPORATION
SUPPLEMENTAL OPERATING SEGMENT RESULTS
(In millions)
 
 
Three Months Ended
 
Nine Months Ended
 
 
Sep 27,
2014
 
Sep 28,
2013
 
Sep 27,
2014
 
Sep 28,
2013
Net Revenue
 
 
 
 
 
 
 
 
PC Client Group
 
$
9,190

 
$
8,440

 
$
25,798


$
24,654

Data Center Group
 
3,700

 
3,178

 
10,296


8,899

Internet of Things Group
 
530

 
464

 
1,551


1,263

Mobile and Communications Group
 
1

 
353

 
208


1,049

Software and services operating segments
 
558

 
545

 
1,659


1,599

All other
 
575

 
503

 
1,637


1,410

TOTAL NET REVENUE
 
$
14,554

 
$
13,483

 
$
41,149

 
$
38,874

 
 
 
 
 
 
 
 
 
Operating income (loss)
 
 
 
 
 
 
 
 
PC Client Group
 
$
4,120

 
$
3,243


$
10,656


$
8,377

Data Center Group
 
1,915

 
1,520


5,049


3,966

Internet of Things Group
 
153

 
152


431


342

Mobile and Communications Group
 
(1,043
)
 
(810
)

(3,096
)

(2,274
)
Software and services operating segments
 
29

 
1


30


(6
)
All other
 
(634
)
 
(602
)

(2,176
)

(1,663
)
TOTAL OPERATING INCOME
 
$
4,540

 
$
3,504

 
$
10,894

 
$
8,742

In the first three months of 2014, we formed the Internet of Things Group, which includes platforms and software optimized for the Internet of Things market segment. Additionally, we changed our organizational structure to align with our critical objectives, which changed information that our Chief Operating Decision Maker (CODM) reviews for purposes of allocating resources and assessing performance. After the reorganization, we have nine operating segments: PC Client Group, Data Center Group, Internet of Things Group, Mobile and Communication Group, McAfee, Software and Services Group, Non-Volatile Memory Solutions Group, Netbook Group, and New Devices Group. All prior-period amounts have been adjusted retrospectively to reflect these operating segment changes, as well as other minor reorganizations.
Our operating segment results shown above are comprised of the following:
•
PC Client Group: Delivering platforms designed for the notebook (including Ultrabook™ devices and 2 in 1 systems) and the desktop (including all-in-ones and high-end enthusiast PCs); wireless and wired connectivity products; as well as home gateway and set-top box components.
•
Data Center Group: Delivering platforms designed for the server, workstation, networking and storage computing market segments.
•
Internet of Things Group: Delivering platforms designed for embedded market segments including retail, transportation, industrial, and buildings and home, along with a broad range of other market segments.
•
Mobile and Communications Group: Delivering platforms designed for the tablet and smartphone market segments; and mobile communications components such as baseband processors, radio frequency transceivers, Wi-Fi, Bluetooth*, global navigation satellite systems, and power management chips.
•
Software and services operating segments consists of the following:
◦
McAfee: A wholly owned subsidiary delivering software products for endpoint security, network and content security, risk and compliance, and consumer and mobile security.
◦
Software and Services Group: Delivering software products and services that promote Intel architecture as the platform of choice for software development.
•
All other category includes revenue, expenses, and charges such as:
◦
Results of operations from our Non-Volatile Memory Solutions Group, Netbook Group, and New Devices Group;
◦
Amounts included within restructuring and asset impairment charges;
◦
A portion of profit-dependent compensation and other expenses not allocated to the operating segments;
◦
Divested businesses for which discrete operating results are not regularly reviewed by our CODM;
◦
Results of operations of startup businesses that support our initiatives, including our foundry business;
◦
Acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill.



- more -
Intel/Page 9


INTEL CORPORATION
SUPPLEMENTAL PLATFORM REVENUE INFORMATION
 
 
Q3 2014
 
Q3 2014
 
Q3 YTD 2014
 
 
compared to Q2 2014
 
compared to Q3 2013
 
compared to Q3 YTD 2013
PC Client Group Platform
 
 
 
 
 
 
Unit Volumes
 
7%
 
15%
 
8%
Average Selling Prices
 
(2)%
 
(5)%
 
(4)%
 
 
 
 
 
 
 
Data Center Group Platform
 
 
 
 
 
 
Unit Volumes
 
6%
 
6%
 
6%
Average Selling Prices
 
(1)%
 
9%
 
10%

PC Client Group Notebook and Desktop Platform Key Drivers                            
- Notebook platform volumes increased 21% from Q3 2013 to Q3 2014
- Notebook platform average selling prices decreased 10% from Q3 2013 to Q3 2014
- Desktop platform volumes increased 6% from Q3 2013 to Q3 2014
- Desktop platform average selling prices increased 2% from Q3 2013 to Q3 2014

- Notebook platform volumes increased 11% from the first nine months of 2013 to the first nine months of 2014
- Notebook platform average selling prices decreased 9% from the first nine months of 2013 to the first nine months of 2014
- Desktop platform volumes increased 5% from the first nine months of 2013 to the first nine months of 2014
- Desktop platform average selling prices increased 2% from the first nine months of 2013 to the first nine months of 2014

Intel/Page 10


INTEL CORPORATION
EXPLANATION OF NON-GAAP MEASURES

In addition to disclosing financial results in accordance with United States (U.S.) generally accepted accounting principles (GAAP), the accompanying Q3 2014 earnings conference contains references to non-GAAP financial measures of gross cash, net cash and other longer term investments, which are used by management when assessing our sources of liquidity and capital resources. We believe these non-GAAP financial measures are helpful to investors in understanding our capital structure and how we manage our resources. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated.


SUPPLEMENTAL RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS
 
 
Sep 27,
2014
 
Jun 28,
2014
 
Dec 28,
2013
 
Dec 25,
2010
 
 
 
 
 
 
 
 
 
GAAP CASH AND CASH EQUIVALENTS
 
$
3,143

 
$
3,049

 
$
5,674

 
$
5,498

Short-term investments
 
3,451

 
4,491

 
5,972

 
11,294

Trading assets
 
9,000

 
9,771

 
8,441

 
5,093

Total cash investments
 
$
15,594

 
$
17,311

 
$
20,087

 
$
21,885

 
 
 
 
 
 
 
 
 
GAAP OTHER LONG-TERM INVESTMENTS
 
$
2,153

 
$
2,184

 
$
1,473

 
$
3,026

Loans receivable and other
 
1,355

 
1,402

 
1,226

 
1,016

Reverse repurchase agreements with original maturities greater than approximately three months
 
450

 
385

 
400

 
—

NON-GAAP OTHER LONGER TERM INVESTMENTS
 
$
3,958

 
$
3,971

 
$
3,099

 
$
4,042

NON-GAAP GROSS CASH
 
$
19,552

 
$
21,282

 
$
23,186

 
$
25,927

 
 
 
 
 
 
 
 
 
 
 
Sep 27,
2014
 
Jun 28,
2014
 
Dec 28,
2013
 
Dec 25,
2010
 
 
 
 
 
 
 
 
 
GAAP CASH AND CASH EQUIVALENTS
 
$
3,143

 
$
3,049

 
$
5,674

 
$
5,498

Short-term investments
 
3,451

 
4,491

 
5,972

 
11,294

Trading assets
 
9,000

 
9,771

 
8,441

 
5,093

Total cash investments
 
$
15,594

 
$
17,311

 
$
20,087

 
$
21,885

Short-term debt
 
(79
)
 
(14
)
 
(281
)
 
(38
)
Long-term debt
 
(13,188
)
 
(13,180
)
 
(13,165
)
 
(2,077
)
NON-GAAP NET CASH (excluding other longer term investments)
 
$
2,327

 
$
4,117

 
$
6,641

 
$
19,770

 
 
 
 
 
 
 
 
 
GAAP OTHER LONG-TERM INVESTMENTS
 
$
2,153

 
$
2,184

 
$
1,473

 
$
3,026

Loans receivable and other
 
1,355

 
1,402

 
1,226

 
1,016

Reverse repurchase agreements with original maturities greater than approximately three months
 
450

 
385

 
400

 
—

NON-GAAP OTHER LONGER TERM INVESTMENTS
 
$
3,958

 
$
3,971

 
$
3,099

 
$
4,042

NON-GAAP NET CASH (including other longer term investments)
 
$
6,285

 
$
8,088

 
$
9,740

 
$
23,812



Embed by copying and pasting the code into your site
Close
The content provided on Two Margins is for information purposes only and does not constitute investment and/or legal advice. Crypto currencies are highly volatile, risky assets and no information on this site, whether generated by Two Margins or external contributors, is a substitute for your own research. Full Risk Disclosure and Disclaimer here.