AMD 1993 Annual Report Download - page 387

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REPORT OF ERNST & YOUNG, INDEPENDENT AUDITORS
The Board of Directors and Shareholders
Advanced Micro Devices, Inc.
We have audited the accompanying consolidated balance sheets of Advanced Micro
Devices, Inc. as of December 26, 1993 and December 27, 1992, and the related
consolidated statements of operations and cash flows for each of the three
years in the period ended December 26, 1993. These financial statements are the
responsibility of the company's management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. 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 financial statements referred to above present fairly, in
all material respects, the consolidated financial position of Advanced Micro
Devices, Inc. as of December 26, 1993, and December 27, 1992, and the
consolidated results of its operations and its cash flows for each of the three
years in the period ended December 26, 1993, in conformity with generally
accepted accounting principles.
As discussed in note 12 to the financial statements, the company is a
defendant in various lawsuits with Intel Corporation regarding intellectual
property rights. The ultimate outcome of these lawsuits cannot presently be
determined. Accordingly, no provision for any liability that may result has
been made in the consolidated financial statements.
/S/ Ernst & Young
San Jose, California
January 6, 1994
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Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1994