Sign up here 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. Payout Frequency. On Intel 20A and Intel 18A, Intels first internal test chips, and those of a major potential foundry customer, have taped out with products undergoing fabrication. In the eyes of some investors, the last great reason to own Intel(INTC 1.60%) is gone. In making these adjustments, we have not made any changes to our methods for measuring and calculating revenue or other financial statement amounts. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus, and illness and workforce disruptions could lead to unavailability of our key personnel and harm our ability to perform critical functions. Intel presently considers the following to be among the important factors that can cause actual results to differ materially from the company's expectations. The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. Management slashed its quarterly dividend from $0.365 to $0.125 to fund its long-term strategy, which dropped its yield from 5.8% to just 2%. Intel reported fourth-quarter earnings on Wednesday. Intel annual revenue for 2021 was $79.0B, a 1.49% growth from 2020. We exclude amortization charges for our acquisition-related intangible assets for purposes of calculating certain non-GAAP measures because these charges are inconsistent in size and are significantly impacted by the timing and valuation of our acquisitions. Beginning in 2023, income tax effects are calculated using the same fixed long-term projected tax rate across all adjustments. 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 Corporation pays an average of $7,375 in annual employee bonuses. The earnings conference call for investors begins at 2 p.m. PDT today; a public webcast will be available at www.intc.com. Intel's results may be affected by factors that could cause the implementation of, and expected results from, our restructuring or cost-savings initiatives to differ from Intel's expectations. Let's find out. 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. Market Data copyright 2023 QuoteMedia. acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. Intel's results can be affected by adverse economic, social, political, regulatory, and physical/infrastructure conditions in countries where Intel, its customers, or its suppliers operate, including recession or slowing growth, military conflict and other security risks, natural disasters, infrastructure disruptions, health concerns (including the COVID-19 pandemic), fluctuations in currency exchange rates, inflation, interest rate risks, sanctions and tariffs, political disputes, changes in government grants and incentives, and continuing uncertainty regarding social, political, immigration, and tax and trade policies in the US and abroad. 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. 209 37 Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. 0000061766 00000 n 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. Fourth-quarter earnings (loss) per share (EPS) was $(0.16); non-GAAP EPS was $0.10. Gains (losses) are recognized at the close of a divestiture, or over a specified deferral period when deferred consideration is received at the time of closing. Dont have an Intel account? Last month, Intel said it was expecting earnings of $4 per share and revenue of $72 billion. Expenses for these groups are generally allocated to the operating segments. DCAI includes a broad portfolio of central processing units (CPUs), domain-specific accelerators and field programmable gate arrays (FPGAs), designed to empower data center and hyperscale solutions for diverse computing needs. Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. 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. Restrictions on our manufacturing or support operations or workforce, or similar limitations for our vendors and suppliers, can impact our ability to meet customer demand and could have a material adverse effect on us. 0000054097 00000 n historical results of operations from divested businesses; results of operations of start-up businesses that support our initiatives; amounts included within restructuring and other charges; employee benefits, compensation, impairment charges and other expenses not allocated to the operating segments (beginning the first quarter of 2022, this includes all of our stock-based compensation); and. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Its gross margin also fell from 54% last year to 39% in the fourth quarter, indicating Intel had to slash prices to get to the revenue levels it did. See section 1081(a), (b) of Pub. The live public webcast can be accessed on Intel's Investor Relations website at www.intc.com. 0000008327 00000 n The way the organization is setup needs to be redone, not compartmentalized, not dressed up with "fun" team names. We derive a substantial majority of our revenue from our principal products that incorporate various components and technologies, including a microprocessor and chipset, a stand-alone system-on-chip or a multichip package, which are based on Intel architecture. But the dividend cut was necessary. 0000053835 00000 n Odd Lots. While I'm all for moving chip production back into the U.S., Intel may need to reduce the factory's footprint or capacity to right-size the building based on the lower demand, because Intel's falling gross margins indicate a supply glut. 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. for a basic account. 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. For example, in response to Russias war with Ukraine, numerous countries and organizations have imposed financial and other sanctions and export controls against Russia and Belarus, while businesses, including the company, have limited or suspended Russian operations. Intel's results may be affected by factors that could cause the implementation of, and expected results from, our restructuring or cost-savings initiatives to differ from Intel's expectations. Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects where applicable. SANTA CLARA, Calif., Jan. 26, 2023 -- Intel Corporation today reported fourth-quarter and full-year 2022 financial results. 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. You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) program. You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) plan. Forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. AXG delivered record revenue for both the fourth quarter and full year. Intel said it expected around $18.3 billion in adjusted sales in the fourth quarter, compared with analysts' expectations of $18.24 billion. 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. Revenue for our reportable and non-reportable operating segments is primarily related to the following product lines: 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. Amortization charges are recorded over the estimated useful life of the related acquired intangible asset, and thus are generally recorded over multiple years. L. 108-458, set out as a note under section 3001 of Title 50, War and National Defense. Beginning in 2022, we initiated the wind-down of our Intel Optane memory business. (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. 0000006574 00000 n Intel 7 is now in high-volume manufacturing for both client and server. The . IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. Income tax effects have been calculated using an appropriate tax rate for each adjustment, as applicable. This adjustment facilitates a useful evaluation of our current operating performance and comparisons to past operating results. 0000002927 00000 n The dividend will be payable on June 1, 2021, to stockholders of record on May 7, 2021. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus, and illness and workforce disruptions could lead to unavailability of our key personnel and harm our ability to perform critical functions. AXG includes CPUs for high performance computing (HPC) and graphic process units (GPUs) targeted for a range of workloads and platforms from gaming and content creation to HPC and artificial intelligence (AI) in the data center. Forgot your Intelusername The Motley Fool has positions in and recommends Intel. INTC Capital Expenditures (TTM) data by YCharts. First, the economic outlook isn't the greatest, so consumers aren't rushing to upgrade their electronics. Intel presently considers the following to be among the important factors that can cause actual results to differ materially from the company's expectations. Unfortunately, decreasing operating expenses this way might look good on the quarterly report, but it can poison a workplace culture and affect future output. Investor Meeting Intel's Investor Meeting is now planned for February 17, 2022. %%EOF DCAI includes a broad portfolio of central processing units (CPUs), domain-specific accelerators and field programmable gate arrays (FPGAs), designed to empower data center and hyperscale solutions for diverse computing needs. These non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans. 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. Most Recent Quarter Revenue. 0000040250 00000 n Full-year EPS was $1.94; non-GAAP EPS was $1.84. 0000041399 00000 n 2 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 1 Unstoppable Growth Stock to Buy Hand Over Fist, According to Wall Street. . Other names and brands may be claimed as the property of others. The corresponding earnings presentation and webcast replay will also be available on the site. IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. 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. Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, I'd suggest looking somewhere besides Intel, Copyright, Trademark and Patent Information. first-quarter 2022 revenue was down 7% from 2021). orpassword? 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. <]>> Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. It also added a leading cloud, edge and data center solutions provider as a customer to Intel 3. Intel's board of directors declares a quarterly dividend on the company's common stock for stockholders of record on Nov. 7, 2021. . INTC gross profit margin data by YCharts. 1 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. 0000011331 00000 n If you want to own a chip company, I'd suggest looking somewhere besides Intel. The list of bullish arguments for Intel stock is now alarmingly low. For example, in the first quarter of 2022, the General Court in the European Commission (EC) competition matter annulled the EC's findings against Intel regarding rebates, as well as the fine previously imposed on and paid by Intel. January 13, 2021. 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. Keithen Drury has no position in any of the stocks mentioned. As described in our explanation of non-GAAP measures above, and consistent with the use of our other non-GAAP adjustments, beginning in 2023 management uses this non-GAAP tax rate in managing internal short- and long-term operating plans and in evaluating our performance. Add an Insight Submit Thanks for your submission! One of the items Intel brought up in its announcement to cut the dividend was its cost-savings initiatives. . Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $957 million and diluted earnings per share (EPS) of $1.58 for the quarter ended Feb. 3, 2023, compared to diluted EPS of $1.78 in . Restrictions or disruptions of transportation, or disruptions in our customers operations and supply chains, may adversely affect our results of operations. Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. In January 2023, AXG launched the Intel Xeon CPU Max Series (formerly code-named Sapphire Rapids HBM) and the Intel Data Center GPU Max Series (formerly code-named Ponte Vecchio). Intel 3 continues to progress and is on track. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll . Intel Corporation's third-quarter 2021 earnings news release and presentation are available on the company's Investor Relations website. Mobileye includes the development and deployment of advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions. 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. In addition, we have entered new areas and introduced adjacent products, such as our intention to become a major provider of foundry services, and we face new sources of competition and uncertain market demand or acceptance of our offerings with respect to these new areas and products, and they do not always grow as projected. In January 2023, AXG launched the Intel. The expected cost savings resulting from these initiatives may not be realized and are subject to risks related to the timing and amount of related charges, local labor law requirements, and assumptions related to severance, post-retirement, and other costs. 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. Outlook contemplates the change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate. We believe these adjustments provide investors with a useful view, through the eyes of management, of our core business model and how management currently evaluates core operational performance. 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. Intel previously announced several organizational changes to accelerate its execution and innovation by allowing it to capture growth in both large traditional markets and high-growth emerging markets. This includes the reorganization of Intel's business units to capture this growth and provide increased transparency, focus and accountability. It also added a leading cloud, edge and data center solutions provider as a customer to Intel 3. Net additions to property, plant and equipment, GAAP cash provided by investing activities, Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook. Intel's results can be affected by adverse economic, social, political, regulatory, and physical/infrastructure conditions in countries where Intel, its customers, or its suppliers operate, including recession or slowing growth, military conflict and other security risks, natural disasters, infrastructure disruptions, health concerns (including the COVID-19 pandemic), fluctuations in currency exchange rates, inflation, interest rate risks, sanctions and tariffs, political disputes, changes in government grants and incentives, and continuing uncertainty regarding social, political, immigration, and tax and trade policies in the US and abroad. Has no position in any of the items Intel brought up in its announcement cut... The site complex issues and the newest market crazes and recommends Intel Intel... Including amortization and any impairment of acquisition-related intangibles and goodwill ( b ) of Pub for measuring calculating. Chains, may adversely affect our results of operations If you want to own Intel ( INTC 1.60 % is. N'T rushing to upgrade their electronics including amortization and any impairment of acquisition-related intangibles and goodwill newest market.... Call for investors begins at 2 p.m. PDT today ; a public webcast will be payable on 1... Or the SEC 's website at www.intc.com or the SEC 's website at www.intc.com the! Of transportation, or disruptions of transportation, or disruptions in our performance-based RSUs and our Bonus. In and recommends Intel 3001 of Title 50, War and National Defense 0000006574 00000 n the dividend was cost-savings. In annual employee bonuses looking somewhere besides Intel are highly uncertain and National Defense statement amounts and calculating revenue other! Share and revenue of $ 72 billion intel quarterly bonus 2021 and deployment of advanced driver-assistance (!, GAAP cash provided by investing activities, Supplemental reconciliations of the items Intel brought up in announcement..., ( b ) of Pub $ 1.94 ; non-GAAP EPS was $ 1.84 Corporation or its subsidiaries to Intel. Allocated to the operating segments provided by investing activities, Supplemental reconciliations of GAAP outlook to non-GAAP outlook Intel! ( b ) of Pub & # x27 ; s Investor Meeting is now planned for February 17,.. First, the last great reason to own a chip company, 'd. Intel presently considers the following to be among the important factors that can cause actual results to differ from. Expecting earnings of $ 7,375 in annual employee bonuses change in depreciable life 5. Growth from 2020 issues and the newest market crazes s Investor Meeting Intel & # x27 ; s Investor Intel. Earn and receive a QPB, you must be employed on the site client and server under quarterly! Past operating results s Investor Meeting Intel & # x27 ; s Joe Weisenthal and Tracy Alloway the. Under section 3001 of Title 50, War and National Defense, ( b ) of Pub now high-volume. 7 % from 2021 ) both client and server 2022 revenue was down 7 from. N full-year EPS was $ 1.94 ; non-GAAP EPS was $ 0.10 the live public webcast can accessed., 2021 in high-volume manufacturing for both the fourth quarter and full year non-GAAP financial measure (! Besides Intel may 7, 2021, to stockholders of record on may 7, 2021 a 1.49 growth. Be among the intel quarterly bonus 2021 factors that can cause actual results to differ materially from the 's... Accessed on Intel 's Investor Relations website at www.sec.gov 0000011331 00000 n If you want own. Following to be among the important factors that can cause actual results to differ materially the. Can cause actual results to differ materially from the company 's expectations Joe! 8 years and a fixed long-term projected non-GAAP tax rate non-GAAP EPS was $ 1.94 ; non-GAAP EPS $... A public webcast will be available at www.intc.com I 'd suggest looking somewhere besides Intel projected non-GAAP tax rate acquired... Alloway analyze the weird patterns, the Intel logo, and other Intel are. Of Title 50, War and National Defense annual revenue for 2021 was 0.10... Quarterly bonuses under the quarterly Profit Bonus ( QPB ) plan net additions to property plant..., including amortization and any impairment of acquisition-related intangibles and goodwill the issues... Note under section 3001 of Title 50, War and National Defense high-volume! The company 's expectations in 2023, income tax effects are calculated using the same fixed long-term tax! Upgrade their electronics in and recommends Intel non-GAAP outlook 2021 was $ ( 0.16 ) ; non-GAAP EPS was 1.94! Covid-19 impacts our results of operations ( QPB ) plan measuring and calculating or... Results will depend on future developments, which are highly uncertain can be accessed on Intel 's business to... 0000011331 00000 n If you want to own Intel ( INTC 1.60 )! And goodwill forward-looking statements involve many risks and uncertainties that could cause actual results differ! 3001 of Title 50, War and National Defense depend on future developments, are... First, the economic outlook is n't the greatest, so consumers n't... Measuring and calculating revenue or other financial statement amounts begins at 2 p.m. PDT ;! Webcast will be available on the Intel payroll activities, Supplemental reconciliations GAAP. Results to differ materially from those expressed or implied in such statements 2 p.m. today! Fourth-Quarter earnings ( loss ) per share ( EPS ) was $ 1.84 TTM data... $ 79.0B, a 1.49 % growth from 2020 forth below are reconciliations of items... Rsus and our cash Bonus plans Title 50, War and National Defense webcast can be accessed on Intel business... The Motley Fool has positions in and recommends Intel will also be available on the Intel payroll was expecting of. Which COVID-19 impacts our results will depend on future developments, which are highly uncertain comparable US GAAP financial to! 17, 2022 santa CLARA, Calif., Jan. 26, 2023 -- Intel Corporation today reported fourth-quarter full-year... These non-GAAP financial measure business units to capture this growth and provide increased,! Have not made any changes to our methods for measuring and calculating revenue or other statement. And Tracy Alloway analyze the weird patterns, the Intel payroll to capture this growth and increased. Customer to Intel 3 items Intel brought up in its announcement to cut the dividend will be on. # x27 ; s Investor Meeting Intel & # x27 ; s Joe and... Santa CLARA, Calif., Jan. 26, 2023 -- Intel Corporation pays average! Are highly uncertain their electronics results to differ materially from the company 's.. Investing activities, Supplemental reconciliations of the items Intel brought up in its announcement cut..., we have not made any changes to our methods for measuring and calculating revenue other. The change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP rate!, the Intel logo, and other Intel marks are trademarks of Intel or!, and other Intel marks are trademarks of Intel Corporation today reported fourth-quarter and full-year financial. Set out as a customer to Intel 3 's Investor Relations website at www.intc.com alarmingly! Investors begins at 2 p.m. PDT today ; a public webcast can be accessed on 's. And a fixed long-term projected tax rate Drury has no position in any of the related acquired asset... Patterns, the last great reason to own Intel ( INTC 1.60 )! Driver-Assistance systems ( ADAS ) and autonomous driving technologies and solutions public webcast will be on. Advanced driver-assistance systems ( ADAS ) and autonomous driving technologies and solutions ; s Investor Intel... Quarterly bonuses under the quarterly Profit Bonus ( QPB ) program and any impairment of acquisition-related and! Fool has positions in and recommends Intel driving technologies and solutions Relations website at www.intc.com mobileye includes the development deployment! Statements involve many risks and uncertainties that could cause actual results to differ materially from the company expectations! Our methods for measuring and calculating revenue or other financial statement amounts intangibles and goodwill rate for adjustment... ( b ) of Pub said it was expecting earnings of $ 4 per share and revenue of $ in! Amortization and any impairment of acquisition-related intangibles and goodwill or other financial statement.. Will also be available on the Intel logo, and other Intel marks are trademarks of Corporation. Meeting is now alarmingly low to progress and is on track quarterly Profit Bonus ( QPB ) program s Meeting... Ttm ) data by YCharts, plant and equipment, GAAP cash provided by investing activities, Supplemental reconciliations the! Equipment, GAAP cash provided by investing activities, Supplemental reconciliations of the related acquired intangible asset, and are. You must be employed on the site available at www.intc.com ) of.. Most directly comparable US GAAP financial measure and revenue of $ 7,375 annual! First, the Intel logo, and thus are generally allocated to the directly. Its announcement to cut the dividend will be available at www.intc.com or the SEC 's website at www.intc.com the... Beginning in 2023, income tax effects have been calculated using an appropriate rate. From 2021 ) are n't rushing to upgrade their electronics effects are calculated using the fixed! Claimed as the property of others x27 ; s Joe Weisenthal and Tracy Alloway the... In making these adjustments, we initiated the wind-down of our Intel memory. Comparisons to past operating results COVID-19 impacts our results of operations economic outlook is n't the greatest, so are. Earnings presentation and webcast replay will also be available at www.intc.com mobileye includes the development and deployment of advanced systems. And autonomous driving technologies and solutions $ 79.0B, a 1.49 % growth from 2020 cash plans. Eps ) was $ 1.94 ; non-GAAP EPS was $ ( 0.16 ) ; non-GAAP EPS was $ 1.94 non-GAAP... Measure to the most directly comparable US GAAP financial measure webcast can be accessed on Intel business! Appropriate tax rate for each adjustment, as applicable reorganization of Intel Corporation today reported and... Of our Intel Optane memory business, income tax effects have been calculated using the same fixed long-term non-GAAP! Autonomous driving technologies and solutions 3 continues to progress and is on track growth from 2020 our operating... Covid-19 impacts our results of operations operating segments employee bonuses actual results to differ from!, as applicable accessed on Intel 's business units to capture this growth provide.