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Advanced Micro Devices, Inc. Consolidated Balance Sheets (in Millions, except par value amounts) December 28 2019 December 29, 2018 $ 1,466 $ 37 1,859 982 20 233 4,597 500 205 289 58 379 6,028 $ 1,078 78 1,235 845 34 270 3,540 348 289 58 321 4,556 S S $ 988 ASSETS Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories, net Prepayment and receivables-related parties Prepaid expenses and other current assets Total current assets Property and equipment, net Operating lease right-of-use assets Goodwill Investment: equity method Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term debt, net Accounts payable Payables to related parties Accrued liabilities Other current liabilities Total current liabilities Long-term debt, net Long-term operating lease liabilities Other long-term liabilities Commitments and contingencies (see Notes 17 and 18) Stockholders' equity: Capital stock: Common stock, par value $0.01: 2,250 shares authorized 1,175 shares issued and 1,170 shares outstanding as of December 28, 2019; 2,250 shares authorized, 1,010 shares issued and 1,005 shares outstanding as of December 29, 2018 Additional paid-in capital Treasury stock, at cost (5 shares as of December 28, 2019 and December 29, 2018) Accumulated deficit Accumulated other comprehensive income (loss) Total stockholders' equity Total liabilities and stockholders' equity 213 1,084 136 834 207 783 24 1,984 1,114 74 2,359 486 199 157 192 12 10 9,963 (53) (7,095) 8,750 (50) (7,436) (8) 1,266 4,556 2,827 6,028 $ $ Advanced Micro Devices, Inc. Consolidated Sutement of Cash Flows ile millions) Year Ended December 28, December 29, December 30, 2019 2018 2017 34: $ 337 S (33) Cashews from operating activities Net income (s) Adjusmens to reconcile net income (less) Bonecash provided by operating activities: Depreciation and amortization Stock based compensation Amortion of debt discount and issuance cos Amortization of operating lase right of useases Loss on debt redemption purchase and conversion Loss on sale/disposal of property and equipment impairment of color licenses Deferred income taxes 222 197 20 170 137 144 97 36 36 12 176 42 12 27 (5) (1) (523) (137) (806) (151) (103) (3) (6) (167) 43 Changes in operating assets and liabilises Accounts receivable Inversores Prepayment and receivables-ated parties Prepaid expenses and the asses Payable to read parties Accounts payable, accrued liabilities and other | Net cash provided by operating activities Cash flows from investing activities Purchase of available for sale de securities Purchases of property and equipment Proceeds from maturity of available for sale de securities Collection of celeme proceeds on sale of receivables (176) 7 373 493 (70) 95 293 34 12 (284) (217) 325 25 2 (149) (123) (163) 45 73 (222) (113) 222 60 (1) (54) (270) 70 Net cash used in investing activities Cash flows from financing activities Proceeds from issuance of common stock through employee ecuity incentive plans Proceeds from eames of shorter der Proceeds from warated by related party Payment to excinguish long Sermet 20 70 74 (10) 449 (403) (41) (1) 43 Net cash provided by used in financing activities Net increase (decrease in cash and cash equivalens, and restricted cash Cail, cai cuivalents, and resided as beinning of year Cail, checuivalens, and realised chat end of year (110) (13) (39) (75) 1,266 987 1,083 1.470 $ (108) 1,191 1,083 $ $ Advanced Micro Devices, Inc. Consolidated Statements of Operations (in millions, except per share amounts) Year Ended December 28, December 29, December 30, 2019 2018 2017 $ 6,475 $ 4,028 2,447 1,434 562 Net revenue Cost of sales Gross profit Research and development Marketing, general and administrative Licensing gain Operating income Interest expense Other expense, net Income loss) before income taxes and equity loss Provision for benefit from income taxes Equity loss in investee Net income loss) Earnings (loss) per share Basic Diluted Shares used in per share calculation Basic Diluted 6,731 $ 3,863 2,868 1547 750 (60) 631 (94) (165) 372 31 5.253 3,466 1,787 1,196 516 (52) 127 (126) (9) (8) 18 451 (121) 330 (9) (2) 337 5 171 $ 341 $ (33) $ $ 0.31 $ 0.30 $ 0.34 $ 0.32 $ (0.03) (0.03) 1,091 1,120 982 1,064 952 952 Debt/ Interest EBITDA Expense Revenue Aa. Baa . B Caa-C 1.5 1.4 2.1 2.8 3.5 5.6 7.9 16.6 19.7 11.7 6.6 3.7 1.8 0.7 125.8 72.4 20.2 8.0 3.2 0.8 0.7 Retained Cash (FFO + Flow/Net EBITA Operating Int Exp) Average CAPEX Revenue Debt Margin Margin FFO/Debt Int Exp Assets Depreciation Volatility 44.2% 32.2% 25.6% 65.9% 19.3 16.8% 1.4 16.0 39.2% 19.4% 18.5% 65.0% 21.9 11.5% 1.4 10.3 32.3% 14.8% 13.3% 39.2% 13.6 10.4% 1.3 9.9 25.1% 15.3% 13.2% 29.6% 8.5 8.9% 1.3 11.7 20.3% 14.8% 12.4% 22.0% 5.4 8.9% 1.3 15.6 8.6% 13.6% 8.9% 9.4% 2.4 7.1% 1.1 18.5 2.9% 6.7% 4.0% 3.6% 1.4 5.0% 0.9 13.8 * Table reports September 2019 median values: from Moody's Financial MetricsTM Key Ratios By Rating And Industry For Global Non-Financial Corporations. Advanced Micro Devices, Inc. Consolidated Balance Sheets (in Millions, except par value amounts) December 28 2019 December 29, 2018 $ 1,466 $ 37 1,859 982 20 233 4,597 500 205 289 58 379 6,028 $ 1,078 78 1,235 845 34 270 3,540 348 289 58 321 4,556 S S $ 988 ASSETS Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories, net Prepayment and receivables-related parties Prepaid expenses and other current assets Total current assets Property and equipment, net Operating lease right-of-use assets Goodwill Investment: equity method Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term debt, net Accounts payable Payables to related parties Accrued liabilities Other current liabilities Total current liabilities Long-term debt, net Long-term operating lease liabilities Other long-term liabilities Commitments and contingencies (see Notes 17 and 18) Stockholders' equity: Capital stock: Common stock, par value $0.01: 2,250 shares authorized 1,175 shares issued and 1,170 shares outstanding as of December 28, 2019; 2,250 shares authorized, 1,010 shares issued and 1,005 shares outstanding as of December 29, 2018 Additional paid-in capital Treasury stock, at cost (5 shares as of December 28, 2019 and December 29, 2018) Accumulated deficit Accumulated other comprehensive income (loss) Total stockholders' equity Total liabilities and stockholders' equity 213 1,084 136 834 207 783 24 1,984 1,114 74 2,359 486 199 157 192 12 10 9,963 (53) (7,095) 8,750 (50) (7,436) (8) 1,266 4,556 2,827 6,028 $ $ Advanced Micro Devices, Inc. Consolidated Sutement of Cash Flows ile millions) Year Ended December 28, December 29, December 30, 2019 2018 2017 34: $ 337 S (33) Cashews from operating activities Net income (s) Adjusmens to reconcile net income (less) Bonecash provided by operating activities: Depreciation and amortization Stock based compensation Amortion of debt discount and issuance cos Amortization of operating lase right of useases Loss on debt redemption purchase and conversion Loss on sale/disposal of property and equipment impairment of color licenses Deferred income taxes 222 197 20 170 137 144 97 36 36 12 176 42 12 27 (5) (1) (523) (137) (806) (151) (103) (3) (6) (167) 43 Changes in operating assets and liabilises Accounts receivable Inversores Prepayment and receivables-ated parties Prepaid expenses and the asses Payable to read parties Accounts payable, accrued liabilities and other | Net cash provided by operating activities Cash flows from investing activities Purchase of available for sale de securities Purchases of property and equipment Proceeds from maturity of available for sale de securities Collection of celeme proceeds on sale of receivables (176) 7 373 493 (70) 95 293 34 12 (284) (217) 325 25 2 (149) (123) (163) 45 73 (222) (113) 222 60 (1) (54) (270) 70 Net cash used in investing activities Cash flows from financing activities Proceeds from issuance of common stock through employee ecuity incentive plans Proceeds from eames of shorter der Proceeds from warated by related party Payment to excinguish long Sermet 20 70 74 (10) 449 (403) (41) (1) 43 Net cash provided by used in financing activities Net increase (decrease in cash and cash equivalens, and restricted cash Cail, cai cuivalents, and resided as beinning of year Cail, checuivalens, and realised chat end of year (110) (13) (39) (75) 1,266 987 1,083 1.470 $ (108) 1,191 1,083 $ $ Advanced Micro Devices, Inc. Consolidated Statements of Operations (in millions, except per share amounts) Year Ended December 28, December 29, December 30, 2019 2018 2017 $ 6,475 $ 4,028 2,447 1,434 562 Net revenue Cost of sales Gross profit Research and development Marketing, general and administrative Licensing gain Operating income Interest expense Other expense, net Income loss) before income taxes and equity loss Provision for benefit from income taxes Equity loss in investee Net income loss) Earnings (loss) per share Basic Diluted Shares used in per share calculation Basic Diluted 6,731 $ 3,863 2,868 1547 750 (60) 631 (94) (165) 372 31 5.253 3,466 1,787 1,196 516 (52) 127 (126) (9) (8) 18 451 (121) 330 (9) (2) 337 5 171 $ 341 $ (33) $ $ 0.31 $ 0.30 $ 0.34 $ 0.32 $ (0.03) (0.03) 1,091 1,120 982 1,064 952 952 Debt/ Interest EBITDA Expense Revenue Aa. Baa . B Caa-C 1.5 1.4 2.1 2.8 3.5 5.6 7.9 16.6 19.7 11.7 6.6 3.7 1.8 0.7 125.8 72.4 20.2 8.0 3.2 0.8 0.7 Retained Cash (FFO + Flow/Net EBITA Operating Int Exp) Average CAPEX Revenue Debt Margin Margin FFO/Debt Int Exp Assets Depreciation Volatility 44.2% 32.2% 25.6% 65.9% 19.3 16.8% 1.4 16.0 39.2% 19.4% 18.5% 65.0% 21.9 11.5% 1.4 10.3 32.3% 14.8% 13.3% 39.2% 13.6 10.4% 1.3 9.9 25.1% 15.3% 13.2% 29.6% 8.5 8.9% 1.3 11.7 20.3% 14.8% 12.4% 22.0% 5.4 8.9% 1.3 15.6 8.6% 13.6% 8.9% 9.4% 2.4 7.1% 1.1 18.5 2.9% 6.7% 4.0% 3.6% 1.4 5.0% 0.9 13.8 * Table reports September 2019 median values: from Moody's Financial MetricsTM Key Ratios By Rating And Industry For Global Non-Financial Corporations
