Intel 2014 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2014 Intel annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 129

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129

INTEL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Restructuring and asset impairment charges for each period were as follows:
(In Millions) 2014 2013 2012
Employee severance and benefit arrangements .................................. $ 265 $ 201 $ —
Asset impairments and other restructuring charges ............................... 30 39 —
Total restructuring and asset impairment charges ............................. $ 295 $ 240 $ —
Restructuring and asset impairment activity for each period was as follows:
(In Millions)
Employee
Severance
and Benefits
Asset
Impairments
and Other Total
Accrued restructuring balance as of December 29, 2012 ................... $—$—$—
Additional accruals .................................................... 195 39 234
Adjustments ......................................................... 6 — 6
Cash payments ...................................................... (18) — (18)
Non-cash settlements .................................................. — (39) (39)
Accrued restructuring balance as of December 28, 2013 ................... 183 — 183
Additional accruals .................................................... 252 31 283
Adjustments ......................................................... 13 (1) 12
Cash payments ...................................................... (327) (6) (333)
Non-cash settlements .................................................. — (13) (13)
Accrued restructuring balance as of December 27, 2014 ................... $ 121 $ 11 $ 132
We recorded the additional accruals and adjustments as restructuring and asset impairment charges in the consolidated
statements of income and within the “all other” operating segments category. A majority of the accrued restructuring balance as of
December 27, 2014 is expected to be paid within the next 12 months and was recorded as a current liability within accrued
compensation and benefits on the consolidated balance sheets.
Restructuring actions that were approved in 2014 impacted approximately 3,700 employees. Since the third quarter of 2013, we
have incurred a total of $535 million in restructuring and asset impairment charges. These charges included a total of $466 million
related to employee severance and benefit arrangements for approximately 7,600 employees, and $69 million in asset
impairment charges and other restructuring charges.
Note 14: Deferred Income
Deferred income at the end of each period was as follows:
(In Millions)
Dec 27,
2014
Dec 28,
2013
Deferred income on shipments of components to distributors .................................. $ 944 $ 852
Deferred income from software and services .............................................. 1,261 1,244
Current deferred income ............................................................. 2,205 2,096
Non-current deferred income from software and services ..................................... 483 506
Total deferred income ............................................................... $ 2,688 $ 2,602
We classify non-current deferred income from software and services within other long-term liabilities on the consolidated balance
sheets.
80