AMD Reports Fourth Quarter and Annual 2019 Financial Results


  ADVANCED MICRO DEVICES, INC.
  CONDENSED CONSOLIDATED BALANCE SHEETS
  (Millions) (Unaudited)
     
  December 28,
2019(1)(2)
 December 29,
2018(2)
  Assets   
 Current assets:   
 Cash and cash equivalents$1,466  $1,078 
 Marketable securities 37   78 
 Accounts receivable, net 1,859   1,235 
 Inventories, net 982   845 
 Prepayment and receivables - related parties 20   34 
 Prepaid expenses and other current assets 233   270 
 Total current assets 4,597   3,540 
 Property and equipment, net 500   348 
 Operating lease right-of use assets 205      -  
  Goodwill   289       289  
  Investment: equity method   58       58  
  Other assets   379       321  
  Total Assets $ 6,028     $ 4,556  
         
  Liabilities and Stockholders' Equity      
  Current liabilities:      
  Short-term debt, net $ -     $ 136  
  Accounts payable   988       834  
  Payables to related parties   213       207  
  Accrued liabilities   1,084       783  
  Other current liabilities   74       24  
  Total current liabilities   2,359       1,984  
  Long-term debt, net   486       1,114  
  Long-term operating lease liabilities   199       -  
  Other long-term liabilities   157       192  
         
  Stockholders' equity:      
  Capital stock:      
  Common stock, par value   12       10  
  Additional paid-in capital   9,963       8,750  
  Treasury stock, at cost   (53 )     (50 )
  Accumulated deficit   (7,095 )     (7,436 )
  Accumulated other comprehensive loss   -       (8 )
  Total Stockholders' equity $ 2,827     $ 1,266  
  Total Liabilities and Stockholders' Equity $ 6,028     $ 4,556  
         
(1) During the first quarter of 2019, the Company adopted the new lease accounting standard, ASC 842, Leases, which resulted in an increase to assets and liabilities for leases primarily related to office buildings. The adoption of this standard had no impact to the Company's results of operations or cash flows.
   
(2) During the second quarter of 2019, GLOBALFOUNDRIES Inc. (GF) ceased being a related party of the Company. All prior period GF related party balances have been reclassified to conform to the current period presentation.

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