Intel 2002 Annual Report Download - page 64

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76
REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
The Board of Directors and Stockholders, Intel Corporation
We have audited the accompanying consolidated balance sheets of Intel Corporation as of December 28, 2002 and December 29, 2001, and the
related consolidated statements of income, stockholders' equity, and cash flows for each of the three years in the period ended December 28,
2002. Our audits also included the financial statement schedule listed in the Index at Item 15(a). These financial statements and schedule are the
responsibility of the company's management. Our responsibility is to express an opinion on these financial statements and schedule based on our
audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position
of Intel Corporation at December 28, 2002 and December 29, 2001, and the consolidated results of its operations and its cash flows for each of
the three years in the period ended December 28, 2002, in conformity with accounting principles generally accepted in the United States. Also,
in our opinion, the related financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents
fairly in all material respects the information set forth therein.
As discussed in Note 2 to the consolidated financial statements, effective December 30, 2001, the company adopted Statement of Financial
Accounting Standards No. 142, "Goodwill and Other Intangible Assets."
San Jose, California
January 13, 2003
77
INTEL CORPORATION
FINANCIAL INFORMATION BY QUARTER (UNAUDITED)
Total property, plant and equipment, net
$
17,847
$
18,121
/s/ Ernst & Young LLP
(In Millions—Except Per Share Amounts)
2002 For Quarter Ended
December 28
September 28
June 29
March 30
Net revenue
$
7,160
$
6,504
$
6,319
$
6,781
Gross margin
$
3,696
$
3,173
$
2,969
$
3,480
Amortization of goodwill
$
—
$
—
$
—
$
—
Amortization and impairment of acquisition
-
related intangibles and costs
$
106
$
102
$
229
$
111
Purchased in
-
process research and development
$
—
$
6
$
$
—
Net income
$
1,049
$
686
$
446
$
936
Basic earnings per share
$
.16
$
.10
$
.07
$
.14
Diluted earnings per share
$
.16
$
.10
$
.07
$
.14
Dividends per share
Declared
$
—
$
.
04
$
—
$
.
Paid
$
.02
$
.02
$
.02
$
.02
Market price range common stock
1
High
$
21.05
$
19.59
$
31.20
$
35.79