Intel 1995 Annual Report Download - page 17

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Exhibit 13
Consolidated Statements Of Income
Three years ended December 30, 1995
(In millions--except per share amounts)
See accompanying notes.
Consolidated Balance Sheets
December 30, 1995 and December 31, 1994
(In millions--except per share amounts)
1995 1994 1993
------- ------- -------
Net revenues $16,202 $11,521 $ 8,782
------- ------- -------
Cost of sales 7,811 5,576 3,252
Research and development 1,296 1,111 970
Marketing, general and
administrative 1,843 1,447 1,168
------- ------- -------
Operating costs and expenses 10,950 8,134 5,390
------- ------- -------
Operating income 5,252 3,387 3,392
Interest expense (29) (57) (50)
Interest income and other, net 415 273 188
------- ------- -------
Income before taxes 5,638 3,603 3,530
Provision for taxes 2,072 1,315 1,235
------- ------- -------
Net income $ 3,566 $ 2,288 $ 2,295
======= ======= =======
Earnings per common and
common equivalent share $ 4.03 $ 2.62 $ 2.60
======= ======= =======
Weighted average common and
common equivalent shares
outstanding 884 874 882
======= ======= =======
1995 1994
------- -------
Assets
Current assets:
Cash and cash equivalents $ 1,463 $ 1,180
Short-term investments 995 1,230
Accounts receivable, net of allowance for
doubtful accounts of $57 ($32 in 1994) 3,116 1,978
Inventories 2,004 1,169
Deferred tax assets 408 552
Other current assets 111 58
------- -------
Total current assets 8,097 6,167
------- -------
Property, plant and equipment:
Land and buildings 3,145 2,292
Machinery and equipment 7,099 5,374
Construction in progress 1,548 850
------- -------
11,792 8,516
Less accumulated depreciation 4,321 3,149
------- -------
Property, plant and equipment, net 7,471 5,367
------- -------
Long-term investments 1,653 2,127
Other assets 283 155
------- -------
Total assets $17,504 $13,816
======= =======
Liabilities and stockholders' equity
Current liabilities:
Short-term debt $ 346 $ 517
Accounts payable 864 575
Deferred income on shipments to distributors 304 269
Accrued compensation and benefits 758 588
Accrued advertising 218 108
Other accrued liabilities 328 538