AMD 2008 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2008 AMD 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 184

  • 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
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184

ITEM 6. SELECTED FINANCIAL DATA
Five Years Ended December 27, 2008
(In millions except per share amounts)
2008(1)(3) 2007(1)(3) 2006(2)(3) 2005(3) 2004(3)
Net revenue ..................................... $5,808 $ 5,858 $ 5,627 $5,848 $5,001
Cost of sales .................................... 3,488 3,669 2,833 3,456 3,033
Gross margin .................................... 2,320 2,189 2,794 2,392 1,968
Research and development ......................... 1,848 1,771 1,190 1,144 934
Marketing, general and administrative ................ 1,304 1,360 1,138 1,016 812
In-process research and development ................. — — 416 — —
Amortization of acquired intangible assets and other
integration charges ............................. 137 236 67 — —
Impairment of goodwill and acquired intangible assets . . . 1,089 1,132 — — —
Restructuring .................................... 90 — — — —
Gain on sale of 200 millimeter equipment ............. (193) — — — —
Operating income (loss) ........................... (1,955) (2,310) (17) 232 222
Interest income .................................. 39 73 116 37 18
Interest expense .................................. (366) (367)(4) (126) (105) (112)
Other income (expense), net ........................ 22 (7) (13) (24) (49)(5)
Income (loss) before minority interest, equity in net
income (loss) of Spansion Inc. and other and income
taxes ........................................ (2,260) (2,611) (40) 140 79
Minority interest in consolidated subsidiaries(6) ......... (33) (35) (28) 125 18
Equity in net income (loss) of Spansion Inc. and
other(7) ....................................... (53) (155) (45) (107) —
Provision (benefit) for income taxes(8) ................ 68 27 23 (7) 6
Income (loss) from continuing operations ............. $(2,414) $ (2,828) $ (136) $ 165 $ 91
Income (loss) from discontinued operations, net of
tax(9) ......................................... (684) (551) (30) — —
Net income (loss) ................................ $(3,098) $ (3,379) $ (166) $ 165 $ 91
Net income (loss) per common share
Basic
Continuing operations ........................... $ (3.98) $ (5.07) $ (0.28) $ 0.41 $ 0.25
Discontinued operations ......................... $ (1.12) $ (0.99) $ (0.06) $ — $ —
$ (5.10) $ (6.06) $ (0.34) $ 0.41 $ 0.25
Diluted
Continuing operations ........................... $ (3.98) $ (5.07) $ (0.28) $ 0.37 $ 0.25
Discontinued operations ......................... $ (1.12) $ (0.99) $ (0.06) $ — $ —
$ (5.10) $ (6.06) $ (0.34) $ 0.37 $ 0.25
Shares used in per share calculation
Basic ........................................ 607 558 492 400 359
Diluted ....................................... 607 558 492 441 371
Long-term debt, capital lease obligations and other, less
current portion and other long term liabilities ........ $5,271 $ 5,664 $ 4,189 $1,786 $2,043
Total assets(10) ................................... $7,675 $11,550 $13,147 $7,288 $7,844
(1) 2008 and 2007 include the operations of ATI for the entire period. As a result, 2008 and 2007 are not fully
comparable to prior periods. In 2008 we decided to divest the Digital Television business unit and classified
it as discontinued operations. See footnote 9 below.
45