In addition to disclosing financial results calculated in accordance with United States (U.S.) generally accepted accounting principles (GAAP), this earnings release contains non-GAAP financial measures that exclude the charge incurred in the second quarter of 2009 as a result of the European Commission (EC) fine in the amount of €1.06 billion, or about $1.45 billion. In this earnings release the expense associated with the fine is presented separately within operating expenses for the nine-months ended September 26, 2009. The non-GAAP financial measures disclosed by the company 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 to those financial statements should be carefully evaluated. Management believes the non-GAAP financial measures are appropriate for both its own assessment of, and to show the reader, how our performance compares to other periods. Set forth below are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
| INTEL CORPORATION | ||||||||||||||||||
| SUPPLEMENTAL RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS | ||||||||||||||||||
| OPERATING INCOME, NET INCOME, AND EARNINGS PER COMMON SHARE; | ||||||||||||||||||
| EXCLUDING EUROPEAN COMMISSION FINE | ||||||||||||||||||
| (In millions, except per-share amounts) | ||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||
| Sept. 26, | June 27, | Sept. 27, | Sept. 26, | Sept. 27, | ||||||||||||||
| 2009 | 2009 | 2008 | 2009 | 2008 | ||||||||||||||
|
GAAP OPERATING INCOME (LOSS) |
$ | 2,579 | $ | (12) | $ | 3,098 | $ | 3,214 | $ | 7,415 | ||||||||
| Adjustment for EC fine | - | 1,447 | - | 1,447 | - | |||||||||||||
| OPERATING INCOME EXCLUDING EC FINE | $ | 2,579 | $ | 1,435 | $ | 3,098 | $ | 4,661 | $ | 7,415 | ||||||||
| GAAP NET INCOME (LOSS) | $ | 1,856 | $ | (398) | $ | 2,014 | $ | 2,087 | $ | 5,058 | ||||||||
| Adjustment for EC fine | - | 1,447 | - | 1,447 | - | |||||||||||||
| NET INCOME EXCLUDING EC FINE | $ | 1,856 | $ | 1,049 | $ | 2,014 | $ | 3,534 | $ | 5,058 | ||||||||
| GAAP DILUTED EARNINGS (LOSS) PER COMMON SHARE | $ | 0.33 | $ | (0.07) | $ |
0.35 |
$ | 0.37 | $ | 0.87 | ||||||||
| Adjustment for EC fine | - | 0.25 | - | 0.26 | - | |||||||||||||
| DILUTED EARNINGS PER COMMON SHARE EXCLUDING EC FINE | $ | 0.33 | $ |
0.18 |
1 |
$ |
0.35 |
$ | 0.63 | $ | 0.87 | |||||||
