AMD 1993 Annual Report Download - page 380

12
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following is a summary of operations by entities within geographic areas
for the three years ended December 26, 1993.
Thousands 1993 1992 1991
- ---------------------------------------------------------------------------------------------------------------------
Sales to unaffiliated customers:
United States $ 1,174,410 $ 1,106,245 $ 862,698
Europe 343,600 279,430 231,900
Asia 130,270 128,814 132,051
----------- ----------- -----------
$ 1,648,280 $ 1,514,489 $ 1,226,649
- ----------------------------------------------------------------------------------------------------------------------
Transfers between geographic areas (eliminated in consolidation):
United States $ 444,378 $ 360,844 $ 326,966
Asia 277,496 300,773 248,611
---------- ---------- ----------
$ 721,874 $ 661,617 $ 575,577
- ----------------------------------------------------------------------------------------------------------------------
Operating income:
United States $ 265,676 $ 235,802 $ 87,799
Europe 8,376 5,165 2,405
Asia 31,001 28,940 18,647
Eliminations - 38 309
----------- ----------- -----------
$ 305,053 $ 269,945 $ 109,160
- ----------------------------------------------------------------------------------------------------------------------
Identifiable assets:
United States $ 1,647,477 $ 1,193,543 $ 1,052,422
Europe 90,582 71,510 69,333
Asia 362,108 311,481 273,642
Eliminations (170,936) (128,439) (103,639)
----------- ----------- -----------
$ 1,929,231 $ 1,448,095 $ 1,291,758
- ----------------------------------------------------------------------------------------------------------------------
U.S. export sales:
Asia $ 314,268 $ 360,357 $ 250,472
Europe 109,226 99,635 79,444
---------- ---------- -----------
$ 423,494 $ 459,992 $ 329,916
- ----------------------------------------------------------------------------------------------------------------------
Sales to unaffiliated customers are based on the AMD location. Transfers
between geographic areas consist of products and services that are sold at
amounts generally above cost and are consistent with governing tax regulations.
Operating income is total sales less operating expenses. Identifiable assets
are those assets used in each geographic area. Export sales are United States
foreign direct sales to unaffiliated customers primarily in Europe and the Far
East.
10. EMPLOYEE BENEFIT PLANS
Stock Option Plans. The company has several stock option plans under which key
employees have been granted incentive (ISOs) and nonqualified (NSOs) stock
options to purchase the company's common stock. Generally, options are
exercisable within four years from the date of grant and expire five to 10
years after the date of grant. ISOs granted under the plans have exercise
prices of not less than 100 percent of the fair market value of the common
stock at the date of grant. Exercise prices of NSOs may not be less than 50
percent of the fair market value of the common stock at the date of grant. At
December 26, 1993, 2,739 employees were eligible and participating in the
plans.
The following is a summary of stock option exercises.
Thousands 1993 1992 1991
- ----------------------------------------------------------------------------------------------------------------------
Aggregate exercise price $14,029 $13,803 $4,410
Options exercised 2,749 3,119 948
- ----------------------------------------------------------------------------------------------------------------------
25
Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1994