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 adjustments facilitate a useful evaluation of our current operating performance and comparison to our past operating performance and provide investors with additional means to evaluate cost and expense trends. 0000011331 00000 n Compensation, including quarterly and annual bonuses is good. Do you work for Intel? Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). 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. 0000001072 00000 n First, the economic outlook isn't the greatest, so consumers aren't rushing to upgrade their electronics. Other charges include a benefit in Q1 2022 related to the annulled EC fine, a charge in Q1 2021 related to the VLSI litigation, periodic goodwill and asset impairments, certain pension charges, and costs associated with restructuring activity. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll . In making these adjustments, we have not made any changes to our methods for measuring and calculating revenue or other financial statement amounts. According to the website Neowin, this includes at least a 5% pay cut companywide, suspension of bonuses, and a reduction in its 401(k) match. Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. SupportAssist automatically detects and proactively alerts Dell to: operating system issues, software upgrades, driver updates and patches, malware, virus infected files, failures of hard drives, batteries, memory, internal cables, thermal sensors, heat sinks, fans, solid state drives and video cards. Intel offers two bonuses: Annual Performance Bonus (APB) based on employee target and company operational and financial performance, and Quarterly Profit Bonus (QPB) which uses 5% of Intel's net income to create a fund for eligible employees. 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. Additionally, in December 2022, in partnership with ASUS, Intel officially set a new world record for overclocking, pushing the 13th Gen Intel Core i9-13900K past the 9 gigahertz barrier for the first time ever. With the median total compensation of Intel's roughly 121,000 employee-base being $104,400, this means Gelsinger's total annual compensation for 2021 was 1,711-times larger than the average. Predictive analysis failure detection . 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. It's clear that the short-term isn't going to get any better for Intel, but is there hope for long-term shareholders? 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. 0000061190 00000 n 0000018598 00000 n However, a company's employees are among its most vital resources. suspension of bonuses, and a reduction in its 401(k) match. for a basic account. 0000040250 00000 n Accelerated Computing Systems and Graphics (AXG). 1 The impact of non-controlling interest to our non-GAAP adjustments in Q1 2023 is expected to be insignificant and thus is not included in our reconciliation of non-GAAP measures. Intel also announced that with AXGs flagship products now in production, the company is evolving AXGs structure to accelerate and scale its impact and drive go-to-market strategies with a unified voice to customers. (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. The live public webcast can be accessed on Intel's Investor Relations website at www.intc.com. A free inside look at Intel Corporation bonus trends based on 43,525 bonuses wages for 3,924 jobs at Intel Corporation. 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. In addition to disclosing financial results in accordance with US GAAP, this document contains references to the non-GAAP financial measures below. Few companies offer QPB. 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. 0000010025 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. Our reconciliations of GAAP to non-GAAP prior year gross margin and operating margin (loss) percentage reflect the exclusion of our NAND memory business from net revenue. 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. A public webcast of Intel's earnings conference call will follow at 2 p.m. PDT at www.intc.com. 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. // No product or component can be absolutely secure. In addition, these transactions do not always achieve our financial or strategic objectives and can disrupt our ongoing business and adversely impact our results of operations. Demand for Intel's products is highly variable and can differ from expectations due to factors including changes in business and economic conditions; customer confidence or income levels, and the levels of customer capital spending; the introduction, availability, and market acceptance of Intel's products, products used together with Intel products, and competitors' products; competitive and pricing pressures, including actions taken by competitors; supply constraints and other disruptions affecting customers; changes in customer order patterns or forecasts including order cancellations; changes in customer needs and emerging technology trends; and changes in the level of inventory and computing capacity at customers. Intel 7 is now in high-volume manufacturing for both client and server. $1.2 billion was returned to Intel in February 2022, and the EC has appealed this decision to the Court of Justice. One of the items Intel brought up in its announcement to cut the dividend was its cost-savings initiatives. L. 108-458, set out as a note under section 3001 of Title 50, War and National Defense. An Intel filing with the Securities and Exchange Commission last year revealed that Mr. Gelsinger's base salary was $1.1 million in 2021, alongside a hiring bonus of $1.75 million. 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. . In 2023, we will continue to navigate the short-term challenges while striving to meet our long-term commitments, including delivering leadership products anchored on open and secure platforms, powered by at-scale manufacturing and supercharged by our incredible team., In the fourth quarter, we took steps to right-size the organization and rationalize our investments, prioritizing the areas where we can deliver the highest value for the long term, said David Zinsner, Intel CFO. $1.2 billion was returned to Intel in February 2022, and the EC has appealed this decision to the Court of Justice. Since the 2017 divestiture, McAfee equity distributions and sales have contributed to operating and free cash flow, and while the McAfee equity sale in Q1 2022 would typically be excluded from adjusted free cash flow as an equity sale, we believe including the sale proceeds in adjusted free cash flow facilitate a better, more consistent comparison to past presentations of liquidity. It is expected that the effective date for your new position will be July 6, 2021 ("Effective Date"). Detailed information regarding these and other factors that could affect Intel's business and results is included in Intel's SEC filings, including the company's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports. You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) program. In 2021, Intel generated $30.0 billion of cash from operations and $11.3 billion of free cash flow (FCF). xref 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. 1 For the three months and year ended December31, 2022, the impact of non-controlling interest to our non-GAAP adjustments is insignificant and thus is not included in our reconciliation of non-GAAP measures. 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. 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. For the full year, the company generated $15.4 billion in cash from operations and paid dividends of $6.0billion. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. endstream endobj 210 0 obj <. As a result, the company modified its segment reporting in the first quarter of 2022 to align to the previously announced business reorganization. Forecasting first-quarter 2023 revenue of $10.5 billion to $11.5 billion; expecting first-quarter EPS of $(0.80) (non-GAAP EPS of $(0.15)). To learn more about Intels innovations, go to. Are They Buys Now? Terms of Use. We project this long-term non-GAAP tax rate on an annual basis using a five-year non-GAAP financial projection that excludes the income tax effects of each adjustment. We exclude these impairments for purposes of calculating certain non-GAAP measures because these charges do not reflect our current operating performance. To make the world smarter, happier, and richer. 0000002964 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. Intel reported fourth-quarter earnings on Wednesday. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. xbbba`b``3 The COVID-19 pandemic has previously adversely affected significant portions of Intel's business and could have a material adverse effect on Intel's financial condition and results of operations. 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. 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. 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. For the three months and year ended December31, 2022, the impact of non-controlling interest to our non-GAAP adjustments is insignificant and thus is not included in our reconciliation of non-GAAP measures. Management is cutting employee pay to control operating expenses. acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. Another concern is its falling trailing-12-month gross margin: It now sits at a 30-year low for the company. 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. Full-year revenue was $63.1 billion, down 20 percent YoY and down 16 percent YoY on a non-GAAP basis. Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. %PDF-1.6 % Full-year revenue was $63.1 billion, down 20 percent YoY and down 16 percent YoY on a non-GAAP basis. 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). 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 Warning Sign Hidden in Intel's Dividend Cut, The Intel Dividend Cut: What It Means for Investors. 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. Both factors have eliminated PC demand, which hits Intel's finances dead center. // See our complete legal Notices and Disclaimers. 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. 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. 0000041399 00000 n We believe these adjustments provide investors with a useful view, through the eyes of management, of our core business model, how management currently evaluates core operational performance, and additional means to evaluate expense trends, including in comparison to other peer companies. 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. 0000005666 00000 n Your eligibility is effective with the first pay period of the month that coincides with your hire date. Intel Is Gutting Its Dividend. The average base salary at Intel is $134,000 with a sign-on bonus of $23,000 and $20,000 of stock bonus. Sign up here Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. 0000061465 00000 n Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. It also added a leading cloud, edge and data center solutions provider as a customer to Intel 3. Intel's largest business, its client computing. The role will be based in Santa Clara, California. The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. See also What is the average cost of a local move for a 3 bedroom house? 0000061766 00000 n expected completion and impacts of restructuring activities and cost-saving or efficiency initiatives; total addressable market (TAM) and market opportunity; business plans and financial expectations; future macroeconomic and geopolitical conditions, including regional or global downturns or recessions; future legislation, including any expectations regarding anticipated financial and other benefits or incentives thereunder; tax- and accounting-related expectations; future responses to and effects of the COVID-19 pandemic, including manufacturing, transportation, and operational restrictions or disruptions; future products, technology, and services, and the expected regulation, availability, production, and benefits of such products, technology, and services, including product ramps, manufacturing goals, plans, timelines, and future progress, future process nodes and technologies including Intel 20A, RibbonFET, and PowerVia, process performance parity and leadership expectations, future product architectures, Alder Lake, Lunar Lake, Meteor Lake, Raptor Lake, Sapphire Rapids, Emerald Rapids, Granite Rapids, Sierra Forest, Mt. Announces five percent increase to quarterly cash dividend. 0000061688 00000 n The live public webcast can be accessed on Intel's Investor Relations website at. . Santa Clara, CA, 95054-1549. January 13, 2021. 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. Intel's guidance for the first quarter of 2023 includes both GAAP and non-GAAP estimates. 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. Australia. 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. 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. In addition, significant or prolonged turnover may negatively impact our operations and culture, as well as our ability to successfully maintain our processes and procedures, including due to the loss of historical, technical, and other expertise. first-quarter 2022 revenue was down 7% from 2021). Based on our ongoing obligation under the NAND wafer manufacturing and sale agreement entered into in connection with the first closing of the sale of our NAND memory business on December 29, 2021, a portion of the initial closing consideration was deferred and will be recognized between first and second closing. In the eyes of some investors, the last great reason to own Intel(INTC 1.60%) is gone. Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology, brands, and customer relationships acquired in connection with business combinations. Intel will hold a public webcast at 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2022. 0000009197 00000 n Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. The dividend is paid every three months and the last ex-dividend date was Feb 6, 2023. Dividend Yield. orpassword? In the fourth quarter,Intel posted a $700 million loss, driven by revenue falling 32%. RT=Real-Time, EOD=End of Day, PD=Previous Day. Ex-Dividend Date. Intel's largest business, its Client Computing Group, was down 7% year-over-year to $10.1 billion, though it still beat analysts' estimates. SANTA CLARA, Calif., Jan. 26, 2023 -- Intel Corporation today reported fourth-quarter and full-year 2022 financial results. 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. 0000018698 00000 n Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. 0000001639 00000 n Intel's peak quarterly revenue was $20.5B in 2021 (q4). On behalf of Intel Corporation ("Intel" or the "Company") I am pleased to provide this offer to you for the position of Chief Executive Officer reporting to the Intel Board of Directors (the "Board"). Sign in here. As of 2021, the average bonus pay in the U.S. is 11% of salary for exempt employees, 6.8% for nonexempt salaried employees, and 5.6% for hourly employees. 0000007318 00000 n IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. In the fourth quarter of 2022, CCGs 13th Gen Intel, In January 2023, DCAI launched its 4thGen Intel, NEX achieved a second consecutive year of double-digit revenue growth, hitting key product milestones with Intel, AXG delivered record revenue for both the fourth quarter and full year. Mobileye continued to execute well in its core advanced driver-assistance systems (ADAS) business, as it launched systems into 233 distinct vehicle models in 2022. TTM = trailing 12 months. Quarterly: 17 Sep 2021: 04 Nov 2021: 01 Dec . Learn about Intel Corporation Performance Bonus, including a description from the employer, and comments and ratings provided anonymously by current and former Intel Corporation employees. The browser version you are using is not recommended for this site.Please consider upgrading to the latest version of your browser by clicking one of the following links. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB program. IFS achieved record revenue for both the fourth quarter and full year, with active design engagements with seven of the 10 largest foundry customers. It also added a leading cloud, edge and data center solutions provider as a customer to Intel 3. Fourth-quarter revenue was $14.0 billion, down 32 percent year-over-year (YoY) and down 28 percent YoY on a non-GAAP basis. Otherwise indicated ( view delay times for all exchanges ) delayed 15 minutes unless otherwise indicated view! 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Is its falling trailing-12-month gross margin: it now sits at a 30-year low for the first of... Are highly uncertain including quarterly and annual bonuses is good marks are trademarks Intel. To earn and receive a QPB, you must be employed on the Intel Dividend Cut, the outlook... The previously announced business reorganization, the Intel logo and other Intel marks are trademarks Intel. At Intel Corporation today reported fourth-quarter and full-year 2022 0000005666 00000 n However a!, a company 's employees are among its most vital resources reduction its... Solutions including wafer fabrication, packaging, chiplet standard and software webcast of Intel Corporation its. N Your eligibility is effective with the first quarter of 2023 includes both GAAP and estimates. Semiconductors to help address our customers greatest challenges for Investors be employed on the Dividend. 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