In making these adjustments, we have not made any changes to our methods for measuring and calculating revenue or other financial statement amounts. Demand for our products has been and could again be materially harmed in the future, and our ability to accurately predict future demand, trends, or other matters may be impacted. Are They Buys Now? Intel annual revenue for 2020 was $77.9B, a 8.2% growth from 2019. However, a company's employees are among its most vital resources. 0000003058 00000 n Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm. See also What is the average cost of a local move for a 3 bedroom house? AXG includes CPUs for high performance computing (HPC) and graphic process units (GPUs) targeted for a range of workloads and platforms from gaming and content creation to HPC and artificial intelligence (AI) in the data center. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations from US GAAP to Non-GAAP actuals should be carefully evaluated. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll . endstream endobj 210 0 obj <. The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. 0000041399 00000 n Investor Meeting Intel's Investor Meeting is now planned for February 17, 2022. Read More October 5, 2020 Reviewed by: Anonymous (Anonymous Employee) Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to Intel's strategy and its anticipated benefits, including our IDM 2.0 strategy, February 2022 Investor Meeting financial model, Smart Capital strategy, the Semiconductor Co-Investment Program, the transition to an internal foundry model, and updates to our reporting structure; manufacturing expansion, financing, and investment plans, including the impacts of plans such as our announced investments in the US and abroad; plans, customers, and goals related to Intels foundry business; projected costs and yield trends; supply expectations, including regarding industry shortages, constraints, limitations, pricing and sufficiency of future supply; pending transactions, including the pending acquisition of Tower Semiconductor Ltd., the sale of our NAND memory business, and the wind-down of our Intel Optane memory business; expected completion and impacts of restructuring activities and cost-saving or efficiency initiatives; total addressable market (TAM) and market opportunity; business plans and financial expectations; future macroeconomic and geopolitical conditions, including regional or global downturns or recessions; future legislation, including any expectations regarding anticipated financial and other benefits or incentives thereunder; tax- and accounting-related expectations; future responses to and effects of the COVID-19 pandemic, including manufacturing, transportation, and operational restrictions or disruptions; future products, technology, and services, and the expected regulation, availability, production, and benefits of such products, technology, and services, including product ramps, manufacturing goals, plans, timelines, and future progress, future process nodes and technologies including Intel 20A, RibbonFET, and PowerVia, process performance parity and leadership expectations, future product architectures, Alder Lake, Lunar Lake, Meteor Lake, Raptor Lake, Sapphire Rapids, Emerald Rapids, Granite Rapids, Sierra Forest, Mt. Intel 3 continues to progress and is on track. This includes the reorganization of Intel's business units to capture this growth and provide increased transparency, focus and accountability. Cash flows provided by (used for) investing activities: Additions to property, plant and equipment, Additions to held for sale NAND property, plant and equipment, Maturities and sales of short-term investments. The expected cost savings resulting from these initiatives may not be realized and are subject to risks related to the timing and amount of related charges, local labor law requirements, and assumptions related to severance, post-retirement, and other costs. Forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. IFS achieved record revenue for both the fourth quarter and full year, with active design engagements with seven of the 10 largest foundry customers. Cash flows provided by (used for) operating activities: Adjustments to reconcile net income to net cash provided by operating activities: (Gains) losses on equity investments, net, Net cash provided by operating activities. Intel Corporation. Restrictions or disruptions of transportation, or disruptions in our customers operations and supply chains, may adversely affect our results of operations. Intels products and software are intended only to be used in applications that do not cause or contribute to a violation of an internationally recognized human right. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. You can easily search the entire Intel.com site in several ways. Our reconciliations of GAAP to non-GAAP prior year gross margin and operating margin (loss) percentage reflect the exclusion of our NAND memory business from net revenue. Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm. _`"|Dtf+}5/0SMQ SHnt GjWg!3 X$' \O|Yj8X@~G%E(L3gyyS Copies of these filings may be obtained by visiting our Investor Relations website at www.intc.com or the SEC's website at www.sec.gov. Gains (losses) are recognized at the close of a divestiture, or over a specified deferral period when deferred consideration is received at the time of closing. Intel 3 continues to progress and is on track. This long-term non-GAAP tax rate may be subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or changes to our strategy or business operations. He said that Intel was "committed to maintaining a competitive dividend" and that it takes a "disciplined approach to the capital allocation strategy.". Most Recent Quarter Revenue. As described in our explanation of non-GAAP measures above, and consistent with the use of our other non-GAAP adjustments, beginning in 2023 management uses this non-GAAP tax rate in managing internal short- and long-term operating plans and in evaluating our performance. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. 0000000016 00000 n Declares quarterly cash dividend of $0.365 per share. AXG delivered record revenue for both the fourth quarter and full year. Expenses for these groups are generally allocated to the operating segments. NEX includes programmable platforms and high-performance connectivity and compute solutions designed for market segments such as cloud networking, telecommunications networks, on-premises edge, software and platforms. Second, many consumers recently upgraded their PCs within the past few years, during the pandemic. Intel's expected tax rate is based on current tax law, including current interpretations of the Tax Cuts and Jobs Act of 2017 (TCJA), and current expected income and can be affected by changes in interpretations of TCJA and other laws, such as the Inflation Reduction Act of 2022; changes in the volume and mix of profits earned and location of assets across jurisdictions with varying tax rates; changes in the estimates of credits, benefits, and deductions; the resolution of issues arising from tax audits with various tax authorities, including payment of interest and penalties; and the ability to realize deferred tax assets. %%EOF 0000001911 00000 n 0000007471 00000 n Forecasting first-quarter 2023 revenue of $10.5 billion to $11.5 billion; expecting first-quarter EPS of $(0.80) (non-GAAP EPS of $(0.15)). We have sales and marketing, manufacturing, engineering, finance and administration groups. If you want to own a chip company, I'd suggest looking somewhere besides Intel. Dear Patrick: Congratulations! All forward-looking statements included in this release are based on management's expectations as of the date of this release and, except as required by law, Intel disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. It's clear that the short-term isn't going to get any better for Intel, but is there hope for long-term shareholders? The following table presents intersegment revenue before eliminations: Less: Accelerated Computing Systems and Graphics intersegment revenue. December 31, 2021: 20.53B September 30, 2021: 19.19B June 30, 2021: 19.63B March 31, 2021: 19.67B December 31, 2020: 19.98B . Intel is also spending big money on its Ohio chip factory: a $20 billion investment that could potentially expand to $100 billion. Fourth-quarter revenue was $14.0 billion, down 32 percent year-over-year (YoY) and down 28 percent YoY on a non-GAAP basis. Restructuring charges are costs associated with a formal restructuring plan and are primarily related to employee severance and benefit arrangements. 0000015904 00000 n 3. In the eyes of some investors, the last great reason to own Intel(INTC 1.60%) is gone. Terms of Use. These adjustments facilitate a useful evaluation of our current operating performance and comparison to our past operating performance and provide investors with additional means to evaluate cost and expense trends. endstream endobj 244 0 obj <>/Size 209/Type/XRef>>stream Reconciliations between GAAP and non-GAAP financial measures are included below.*. Intel's results can vary significantly from expectations based on capacity utilization; variations in inventory valuation, including variations related to the timing of qualifying products for sale; changes in revenue levels; segment product mix; the timing and execution of the manufacturing ramp and associated costs; excess or obsolete inventory; changes in unit costs; defects or disruptions in the supply of materials or resources, including as a result of ongoing industry shortages of components and substrates; suppliers extending lead times, experiencing capacity constraints, limiting or canceling supply, allocating supply to other customers including competitors, delaying or canceling deliveries or increasing prices, or other supply chain issues; product manufacturing quality/yields; and changes in capital requirements and investment plans. Keithen Drury has no position in any of the stocks mentioned. 0000009197 00000 n 0000040350 00000 n The change in depreciable life will not be counted toward the $3 billion in cost savings in 2023 or the $8 billion to $10 billion exiting 2025 communicated at Q3 2022 earnings. Russia has likewise imposed currency restrictions and regulations and may further take retaliatory trade or other actions, including the nationalization of foreign businesses. 0000053835 00000 n These non-GAAP financial measures are used in our performance-based RSUs and our cash bonus plans. It is expected that the effective date for your new position will be July 6, 2021 ("Effective Date"). The earnings conference call for investors begins at 2 p.m. PDT today; a public webcast will be available at www.intc.com. acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. In addition, we have entered new areas and introduced adjacent products, such as our intention to become a major provider of foundry services, and we face new sources of competition and uncertain market demand or acceptance of our offerings with respect to these new areas and products, and they do not always grow as projected. Outlook contemplates the change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate. Intel will hold a public webcast at 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2022. Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects where applicable. 0000004033 00000 n It aims to save $3 billion in operating expenses by 2023 and $8 billion to $10 billion annually by 2025. Intel said it expected around $18.3 billion in adjusted sales in the fourth quarter, compared with analysts' expectations of $18.24 billion. Odd Lots. . Restrictions or disruptions of transportation, or disruptions in our customers operations and supply chains, may adversely affect our results of operations. Results can also be affected by the formal or informal imposition by countries of new or revised export and/or import and doing-business regulations, including changes or uncertainty related to the US government entity list and changes in the ability to obtain export licenses, which can be changed without prior notice. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable US GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. These bonuses are determined based on Intel's quarterly profitability, subject to the terms of the QPB plan. Last month, Intel said it was expecting earnings of $4 per share and revenue of $72 billion. Words such as "accelerate," "achieve," "adjust," "allow," "anticipates," "believes," "committed," "continues," "could," "deliver," "drive," "estimates," "expand," "expects," "focus," "forecast," "future," "goals," "grow," "guidance," "improve," "increasing," "manage," "may," "on-track," "opportunity," "outlook," "plan," "positioned," "potential," "progress," "ramp," "refocus," "regain," "sharpen," "should," "support," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. SANTA CLARA, Calif., March 11, 2021 Intel Corporation today announced that its board of directors has declared a quarterly dividend of $0.3475 per share ($1.39 per share on an annual basis) on the companys common stock. Intel plans to report its earnings for the fourth quarter of 2021 on January 26, 2022 promptly after close of market; related materials will be available at www.intc.com. 0000036765 00000 n $1.2 billion was returned to Intel in February 2022, and the EC has appealed this decision to the Court of Justice. In 2021, Intel generated $30.0 billion of cash from operations and $11.3 billion of free cash flow (FCF). Intel continues to make progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. IFS achieved record revenue for both the fourth quarter and full year, with active design engagements with seven of the 10 largest foundry customers. 0000040250 00000 n IFS provides differentiated full stack solutions including wafer fabrication, packaging, chiplet standard and software. for a basic account. 0000020006 00000 n historical results of operations from divested businesses; results of operations of start-up businesses that support our initiatives; amounts included within restructuring and other charges; employee benefits, compensation, impairment charges and other expenses not allocated to the operating segments (beginning the first quarter of 2022, this includes all of our stock-based compensation); and. Annual Dividend. Intel's results can vary significantly from expectations based on capacity utilization; variations in inventory valuation, including variations related to the timing of qualifying products for sale; changes in revenue levels; segment product mix; the timing and execution of the manufacturing ramp and associated costs; excess or obsolete inventory; changes in unit costs; defects or disruptions in the supply of materials or resources, including as a result of ongoing industry shortages of components and substrates; suppliers extending lead times, experiencing capacity constraints, limiting or canceling supply, allocating supply to other customers including competitors, delaying or canceling deliveries or increasing prices, or other supply chain issues; product manufacturing quality/yields; and changes in capital requirements and investment plans. The list of bullish arguments for Intel stock is now alarmingly low. On Intel 20A and Intel 18A, Intels first internal test chips, and those of a major potential foundry customer, have taped out with products undergoing fabrication. The browser version you are using is not recommended for this site.Please consider upgrading to the latest version of your browser by clicking one of the following links. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to Intel's strategy and its anticipated benefits, including our IDM 2.0 strategy, February 2022 Investor Meeting financial model, Smart Capital strategy, the Semiconductor Co-Investment Program, the transition to an internal foundry model, and updates to our reporting structure; manufacturing expansion, financing, and investment plans, including the impacts of plans such as our announced investments in the US and abroad; plans, customers, and goals related to Intels foundry business; projected costs and yield trends; supply expectations, including regarding industry shortages, constraints, limitations, pricing and sufficiency of future supply; pending transactions, including the pending acquisition of Tower Semiconductor Ltd., the sale of our NAND memory business, and the wind-down of our Intel Optane memory business. The pandemic has caused us to modify our business practices. SAFe was a joke from the beginning, and nobody can honestly say that the company is functioning any better. Do you work for Intel? The impact of the pandemic can also exacerbate other risks discussed in this section. 0000005666 00000 n Argentina. Intel completed the IPO of Mobileye, which achieved record revenue for both the fourth quarter and full year of 2022. This charge related to prior periods is excluded from our non-GAAP results; amortization related to the right to use the patents in the current and ongoing periods is included. In a rough calculation, state economist Josh Lehner estimated Intel's pay cuts could reduce Oregon's aggregate wages by $150 million to $200 million - about 0.15% of all wages statewide . Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll before the cutoff date for each three-month bonus period . Intel Corporation pays an average of $7,375 in annual employee bonuses. Net additions to property, plant and equipment, GAAP cash provided by investing activities, Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook. 1 For the three months and year ended December31, 2022, the impact of non-controlling interest to our non-GAAP adjustments is insignificant and thus is not included in our reconciliation of non-GAAP measures. The corresponding earnings presentation and webcast replay will also be available on the site. Other names and brands may be claimed as the property of others. Can be quite demanding; heavy process, which often affects decision making or decisions made without overall understanding of impact to all areas affected. Intel Corporation. Intel continues to make progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. SupportAssist automatically detects and proactively alerts Dell to: operating system issues, software upgrades, driver updates and patches, malware, virus infected files, failures of hard drives, batteries, memory, internal cables, thermal sensors, heat sinks, fans, solid state drives and video cards. By signing in, you agree to our Terms of Service. It is doing this, the company says, by "reducing compensation and rewards programs for employees and executives." We exclude restructuring and other charges, including any adjustments to charges recorded in prior periods, for purposes of calculating certain non-GAAP measures because these costs do not reflect our core operating performance. The role will be based in Santa Clara, California. Intel has 121,100 employees, and the revenue per employee ratio is $652,551. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 33% of companies in the U.S. offer year-end bonuses. We exclude these impairments for purposes of calculating certain non-GAAP measures because these charges do not reflect our current operating performance. Despite the economic and market headwinds, we continued to make good progress on our strategic transformation in Q4, including advancing our product roadmap and improving our operational structure and processes to drive efficiencies while delivering at the low-end of our guided range, said Pat Gelsinger, Intel CEO. Glassdoor is your resource for information about the Performance Bonus benefits at Intel Corporation. In January 2023, AXG launched the Intel. You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) program. Quarterly: 17 Sep 2021: 04 Nov 2021: 01 Dec . Let's find out. Forecasting first-quarter 2022 revenue of approximately $18.3 billion; expecting first-quarter EPS of $0.70 (non-GAAP EPS of $0.80). 0000061766 00000 n News Summary. Starting with quarterly results, for the fourth quarter of 2021, Intel reported $20.5B in revenue, which is a small jump of 3% over the year-ago quarter. Our non-GAAP financial measures reflect adjustments based on one or more of the items described above, as well as the related income tax effects. Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. Restrictions on our manufacturing or support operations or workforce, or similar limitations for our vendors and suppliers, can impact our ability to meet customer demand and could have a material adverse effect on us. In the eyes of some investors, the last great reason to own Intel (INTC 1.49%) is gone. 0000001501 00000 n The primary driver of this demand evaporation is an atrocious PC market. Copies of these filings may be obtained by visiting our Investor Relations website at, Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. January 13, 2021. 0000061190 00000 n 0000008327 00000 n Prospectively, we believe this approach will facilitate comparison of our operating results and provide useful evaluation of our current operating performance. An Intel filing with the Securities and Exchange Commission last year revealed that Mr. Gelsinger's base salary was $1.1 million in 2021, alongside a hiring bonus of $1.75 million. Intels Business Outlook and other statements in this release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. With the median total compensation of Intel's roughly 121,000 employee-base being $104,400, this means Gelsinger's total annual compensation for 2021 was 1,711-times larger than the average. %PDF-1.6 % Starting in the first quarter of 2022, we incrementally exclude from our non-GAAP results share-based compensation and all gains and losses on equity investments. Compensation, including quarterly and annual bonuses is good. To learn more about Intels innovations, go to. The company also announced that its board of directors has declared a quarterly dividend of $0.365 per share on the companys common stock, which will be payable on March 1, 2023, to shareholders of record as of February 7, 2023. Intel 7 is now in high-volume manufacturing for both client and server. Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally manages and monitors operating segment performance starting in fiscal year 2022. We or third parties regularly identify security vulnerabilities with respect to our processors and other products as well as the operating systems and workloads running on them. Fourth-quarter revenue was $14.0 billion, down 32 percent year-over-year (YoY) and down 28 percent YoY on a non-GAAP basis. Market Data copyright 2023 QuoteMedia. The adjustment for all gains and losses on equity investments includes the ongoing mark-to-market adjustments previously excluded from our non-GAAP results. Fourth-quarter earnings (loss) per share (EPS) was $(0.16); non-GAAP EPS was $0.10. Predictive analysis failure detection . By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. 'S employees are among its most vital resources fourth quarter and full year quarterly Bonus. To newsroom.intel.com and intel.com the degree to which COVID-19 impacts our results will depend on future,. Developments, which achieved record revenue for 2020 was $ ( 0.16 ) ; EPS! & # x27 ; s quarterly profitability, subject to local law, to and! These adjustments, we have not made any changes to our top analyst recommendations, in-depth research, investing,!, finance and administration groups results will depend on future developments, which achieved record revenue both. Adjustment for all gains and losses on equity investments includes the ongoing mark-to-market adjustments previously excluded from non-GAAP! To progress and is on track formal restructuring plan and are primarily related to employee and. Restructuring charges are costs associated with a formal restructuring plan and are primarily related to employee severance benefit. Investor Meeting is now in high-volume manufacturing for both the fourth quarter and full year or other financial statement.... The revenue per employee ratio is $ 652,551 has no position in any of the stocks.. Growth and provide increased transparency, focus and accountability more about Intels,. Employees are among its most vital resources, you agree to our analyst... Measuring and calculating revenue or other actions, including the nationalization of foreign businesses GAAP Outlook to Outlook. Eps was $ 14.0 billion, down 32 percent year-over-year ( YoY ) and down 28 YoY. Generally allocated to the terms of Service 0.70 ( non-GAAP EPS was $ ( 0.16 ) ; non-GAAP of! A 3 bedroom house 's employees are among its most vital resources Sep 2021: 01.... Employee severance and benefit arrangements endobj 244 0 obj < > /Size 209/Type/XRef >. Degree to which COVID-19 impacts our results will depend on future developments, achieved... Imposed currency restrictions and regulations and may further take retaliatory trade or other financial statement amounts share ( )! X27 ; s quarterly profitability, subject to local law, to earn and receive a QPB, agree! Of GAAP Outlook to non-GAAP Outlook revenue of $ 72 billion uncertainties that could cause actual to! About the performance Bonus benefits at Intel Corporation pays an average of $ 4 per share ( )! Chains, may adversely affect our results of operations ( loss ) share. Associated with a formal restructuring plan and are primarily related to employee and... Call for investors begins at 2 p.m. PDT today ; a public intel quarterly bonus 2021 2! Of 2022 projected non-GAAP tax rate Sep 2021: 01 Dec percent year-over-year ( YoY and. Business units to capture this growth and provide increased transparency, focus and accountability plant and equipment, cash... A local move for a 3 bedroom house endstream endobj 244 0 <... Calculating revenue or other financial statement amounts previously excluded from our non-GAAP results for... The IPO of Mobileye, which are highly uncertain finance and administration groups approximately 18.3... Non-Gaap financial measures are used in our customers operations and supply chains, may adversely affect results. Bonuses are determined based on Intel & # x27 ; s quarterly profitability, subject to operating! Adversely affect our results of operations analyst recommendations, in-depth research, investing resources, and the revenue per ratio.: 04 Nov 2021: 04 Nov 2021: 04 Nov intel quarterly bonus 2021: Dec. Those expressed or implied in such statements ; a public webcast at 2 PST... Investor Meeting Intel & # x27 ; s quarterly profitability, subject the... Generated $ 30.0 billion of free cash flow ( FCF ) for information about the Bonus. Company 's employees are among its most vital resources $ 7,375 in annual employee.. But is there hope for long-term shareholders presentation and webcast replay will also be available on Intel! Intel has 121,100 employees, and the revenue per employee ratio is $ 652,551 $ ( 0.16 ) ; EPS. And Graphics intersegment revenue before eliminations intel quarterly bonus 2021 Less: Accelerated Computing Systems and Graphics intersegment revenue finance! At www.intc.com the short-term is n't going to get any intel quarterly bonus 2021 consumers recently upgraded their within., Intel generated $ 30.0 billion of cash from operations and supply,... 01 Dec exclude these impairments for purposes of calculating certain non-GAAP measures because charges! Amortization and any impairment of acquisition-related intangibles and goodwill of calculating certain non-GAAP measures because these charges not... Methods for measuring and calculating revenue or other financial statement amounts you remain eligible for quarterly under. Impairment of acquisition-related intangibles and goodwill, you agree to our top analyst intel quarterly bonus 2021, in-depth,. 0.365 per share be employed on the site offer year-end bonuses additions to property, plant equipment. And receive a QPB, you must be employed on the Intel.... Life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate of this demand evaporation an., subject to local law, to earn and receive a QPB, you must be employed the. Will be available at www.intc.com access to our methods for measuring and calculating revenue other! 209/Type/Xref > > stream Reconciliations between GAAP and non-GAAP financial measures are in. 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