We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Advanced Micro Devices Inc | NASDAQ:AMD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
4.84 | 3.31% | 151.00 | 150.01 | 151.63 | 150.786 | 147.25 | 148.75 | 49,361,689 | 05:00:03 |
|
|
ý
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
|
|
For the fiscal year ended December 31, 2016
|
|
OR
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
|
|
For the transition period from
to
|
|
|
Delaware
|
94-1692300
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
One AMD Place, Sunnyvale, California
|
94085
|
(Address of principal executive offices)
|
(Zip Code)
|
|
(Title of each class)
|
(Name of each exchange on which registered)
|
Common Stock $0.01 par value per share
|
The NASDAQ Capital Market
|
|
Large accelerated filer
|
ý
|
Accelerated filer
|
¨
|
Non-accelerated filer
|
¨
(Do not check if a smaller reporting company)
|
Smaller reporting company
|
¨
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
•
|
x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics; and
|
•
|
|
•
|
server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles. We also license portions of our intellectual property portfolio.
|
•
|
business practices, including rebating and allocation strategies and pricing actions which may limit our market share and margins;
|
•
|
product mix and introduction schedules;
|
•
|
product bundling, marketing and merchandising strategies;
|
•
|
exclusivity payments to its current and potential customers and channel partners that require or result in exclusive product arrangements;
|
•
|
de facto control over industry standards, and heavy influence on PC manufacturers and other PC industry participants, including motherboard, memory, chipset and basic input/output system, or BIOS, suppliers and software companies as well as the graphics interface for Intel platforms; and
|
•
|
marketing and advertising expenditures in support of positioning the Intel brand over the brand of its OEM customers.
|
•
|
business practices, including rebating and allocation strategies and pricing actions, designed to limit our market share and margins;
|
•
|
product mix and introduction schedules;
|
•
|
product bundling, marketing and merchandising strategies;
|
•
|
exclusivity payments to its current and potential customers and channel partners;
|
•
|
de facto control over industry standards, and heavy influence on PC manufacturers and other PC industry participants, including motherboard, memory, chipset and basic input/output system, or BIOS, suppliers and software companies as well as the graphics interface for Intel platforms; and
|
•
|
marketing and advertising expenditures in support of positioning the Intel brand over the brand of its original equipment manufacturer OEM customers.
|
•
|
make it difficult for us to satisfy our financial obligations, including making scheduled principal and interest payments;
|
•
|
limit our ability to borrow additional funds for working capital, capital expenditures, acquisitions and general corporate and other purposes;
|
•
|
limit our ability to use our cash flow or obtain additional financing for future working capital, capital expenditures, acquisitions or other general corporate purposes;
|
•
|
require us to use a substantial portion of our cash flow from operations to make debt service payments;
|
•
|
place us at a competitive disadvantage compared to our competitors with relatively less debt; and
|
•
|
increase our vulnerability to the impact of adverse economic and industry conditions.
|
•
|
incur additional indebtedness;
|
•
|
pay dividends and make other restricted payments;
|
•
|
make certain investments, including investments in our unrestricted subsidiaries;
|
•
|
create or permit certain liens;
|
•
|
create or permit restrictions on the ability of certain restricted subsidiaries to pay dividends or make other distributions to us;
|
•
|
use the proceeds from sales of assets;
|
•
|
enter into certain types of transactions with affiliates; and
|
•
|
consolidate or merge or sell our assets as an entirety or substantially as an entirety.
|
•
|
create liens upon any of the Loan Parties’ property (other than customary permitted liens and liens in respect of up to $1.5 billion of secured credit facilities debt (which amount includes our Secured Revolving Line of Credit));
|
•
|
declare or make cash distributions;
|
•
|
create any encumbrance on the ability of a subsidiary to make any upstream payments;
|
•
|
make asset dispositions other than certain ordinary course dispositions and certain supply chain finance arrangements;
|
•
|
make certain loans, make payments with respect to subordinated debt or certain borrowed money prior to its due date; and
|
•
|
enter into any non-arm’s-length transaction with an affiliate (except for certain customary exceptions).
|
•
|
a sudden or significant decrease in demand for our products;
|
•
|
a production or design defect in our products;
|
•
|
a higher incidence of inventory obsolescence because of rapidly changing technology and customer requirements;
|
•
|
a failure to accurately estimate customer demand for our products, including for our older products as our new products are introduced; or
|
•
|
our competitors introducing new products or taking aggressive pricing actions.
|
•
|
substantial declines in average selling prices;
|
•
|
the cyclical nature of supply and demand imbalances in the semiconductor industry;
|
•
|
a decline in demand for end-user products (such as PCs) that incorporate our products; and
|
•
|
excess inventory levels.
|
•
|
implementing new data security procedures, including costs related to upgrading computer and network security;
|
•
|
training workers to maintain and monitor our security measures;
|
•
|
remediating any data security breach and addressing the related litigation; and
|
•
|
mitigating reputational harm.
|
•
|
expropriation;
|
•
|
changes in a specific country’s or region’s political or economic conditions;
|
•
|
changes in tax laws, trade protection measures and import or export licensing requirements;
|
•
|
difficulties in protecting our intellectual property;
|
•
|
difficulties in managing staffing and exposure to different employment practices and labor laws;
|
•
|
changes in foreign currency exchange rates;
|
•
|
restrictions on transfers of funds and other assets of our subsidiaries between jurisdictions;
|
•
|
changes in freight and interest rates;
|
•
|
disruption in air transportation between the United States and our overseas facilities;
|
•
|
loss or modification of exemptions for taxes and tariffs; and
|
•
|
compliance with U.S. laws and regulations related to international operations, including export control and economic sanctions laws and regulations and the Foreign Corrupt Practices Act.
|
ITEM 1B.
|
UNRESOLVED STAFF COMMENTS
|
ITEM 2.
|
PROPERTIES
|
ITEM 3.
|
LEGAL PROCEEDINGS
|
ITEM 4.
|
MINE SAFETY DISCLOSURES
|
ITEM 5.
|
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
|
|
High
|
|
Low
|
||||
Fiscal Year 2016 Quarters Ended:
|
|
|
|
||||
March 26, 2016
|
$
|
3.06
|
|
|
$
|
1.75
|
|
June 25, 2016
|
$
|
5.52
|
|
|
$
|
2.60
|
|
September 24, 2016
|
$
|
8.00
|
|
|
$
|
4.65
|
|
December 31, 2016
|
$
|
12.42
|
|
|
$
|
6.22
|
|
|
High
|
|
Low
|
||||
Fiscal Year 2015 Quarters Ended:
|
|
|
|
||||
March 28, 2015
|
$
|
3.37
|
|
|
$
|
2.14
|
|
June 27, 2015
|
$
|
2.94
|
|
|
$
|
2.20
|
|
September 26, 2015
|
$
|
2.63
|
|
|
$
|
1.61
|
|
December 26, 2015
|
$
|
3.00
|
|
|
$
|
1.65
|
|
|
Base Period
|
Years Ending
|
|||||||||
Company / Index
|
12/31/2011
|
12/29/2012
|
|
12/28/2013
|
|
12/27/2014
|
|
12/26/2015
|
|
12/31/2016
|
|
Advanced Micro Devices, Inc.
|
100
|
42.22
|
|
70.00
|
|
49.07
|
|
54.07
|
|
210.00
|
|
S&P 400 Index
|
100
|
116.02
|
|
156.60
|
|
174.49
|
|
171.01
|
|
204.03
|
|
S&P 400 Semiconductors Index
|
100
|
100.93
|
|
133.01
|
|
187.72
|
|
199.93
|
|
268.67
|
|
ITEM 6.
|
SELECTED FINANCIAL DATA
|
|
2016
(1)
|
|
2015
(1)
|
|
2014
(1)
|
|
2013
(1)
|
|
2012
(1)
|
||||||||||
Net revenue
|
$
|
4,272
|
|
|
$
|
3,991
|
|
|
$
|
5,506
|
|
|
$
|
5,299
|
|
|
$
|
5,422
|
|
Net loss
(2)(3)(4)(5)(6)(7)(8)
|
(497
|
)
|
|
(660
|
)
|
|
(403
|
)
|
|
(83
|
)
|
|
(1,183
|
)
|
|||||
Net loss per common share
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
$
|
(0.60
|
)
|
|
$
|
(0.84
|
)
|
|
$
|
(0.53
|
)
|
|
$
|
(0.11
|
)
|
|
$
|
(1.60
|
)
|
Diluted
|
$
|
(0.60
|
)
|
|
$
|
(0.84
|
)
|
|
$
|
(0.53
|
)
|
|
$
|
(0.11
|
)
|
|
$
|
(1.60
|
)
|
Shares used in per share calculation
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
835
|
|
|
783
|
|
|
768
|
|
|
754
|
|
|
741
|
|
|||||
Diluted
|
835
|
|
|
783
|
|
|
768
|
|
|
754
|
|
|
741
|
|
|||||
Long-term debt, net and other long term liabilities
(9)(10)
|
$
|
1,559
|
|
|
$
|
2,093
|
|
|
$
|
2,110
|
|
|
$
|
2,153
|
|
|
$
|
2,039
|
|
Total assets
(10)
|
$
|
3,321
|
|
|
$
|
3,084
|
|
|
$
|
3,737
|
|
|
$
|
4,315
|
|
|
$
|
3,974
|
|
(1)
|
2016 consisted of 53 weeks, whereas 2015, 2014, 2013 and 2012 each consisted of 52 weeks.
|
(2)
|
In 2013, we entered into licenses and settlements regarding patent-related matters. Pursuant to these licenses and settlements, we received in aggregate, $48 million, net, which we recorded within net legal settlements in 2013.
|
(3)
|
During the first quarter of 2012, we entered into a second amendment to the WSA with GF. The primary effect of this amendment was to modify certain pricing and other terms of the WSA applicable to wafers for our microprocessor and APU products, to be delivered by GF to us during 2012. As a result of the amendment, we recorded a $703 million charge during the first quarter of 2012. During the fourth quarter of 2012, we entered into a third amendment to the WSA. Pursuant to the third amendment, we modified our wafer purchase commitments for the fourth quarter of 2012 made pursuant to the second amendment to the WSA. In addition, we agreed to certain pricing and other terms of the WSA applicable to wafers for our microprocessor and APU products, to be delivered by GF to us from the fourth quarter of 2012 through December 31, 2013. Pursuant to the third amendment, GF agreed to waive a portion of our production wafer purchase commitments for the fourth quarter of 2012. In consideration for this waiver, we agreed to pay GF a fee of $320 million, which resulted in a $273 million lower of cost or market charge recorded in the fourth quarter of 2012. During the third quarter of 2016, we entered into a sixth amendment to the WSA to modify certain terms of the WSA applicable to wafers for our microprocessor, graphics processor and semi-custom products for a five-year period from January 1, 2016 to December 31, 2020. Pursuant to the sixth amendment, GF agreed to provide us a limited waiver with rights to contract with another wafer foundry with respect to certain products in the 14nm and 7nm technology nodes and gives us greater flexibility in sourcing foundry services across our product portfolio. In consideration for these rights, we agreed to pay GF $100 million in installments starting in the fourth fiscal quarter of 2016 through the third fiscal quarter of 2017. In addition, in consideration for the limited waiver and rights under the sixth amendment, we entered into a warrant agreement (the Warrant Agreement) with West Coast Hitech L.P. (WCH), a wholly-owned subsidiary of Mubadala Development Company PJSC. Accordingly, in 2016, we recorded a charge of $340 million in Cost of sales, consisting of the $100 million payment under the sixth amendment and the $240 million value of the warrant under the Warrant Agreement issued in consideration of the sixth amendment.
|
(4)
|
In 2015, 2014, and 2012, we implemented restructuring plans and incurred net charges of $53 million, $58 million, $6 million and $100 million in 2015, 2014, 2013 and 2012, respectively, which primarily consisted of severance and related employee benefits.
|
(5)
|
In 2015, we exited the dense server systems business, formerly SeaMicro resulting in a charge of $76 million in restructuring and other special charges, net. In 2014, we incurred other special charges of $13 million primarily related to the departure of our former CEO. In 2013, we sold and leased back buildings in various locations and land in Austin, Texas, for which we recorded a net charge of $24 million in other special charges.
|
(6)
|
In 2014, we recorded a goodwill impairment charge of $233 million related to our Computing and Graphics segment. Also in 2014, we recorded a $58 million lower of cost or market inventory adjustment related to our second generation APU products. In 2015, we recorded an inventory write-down of $65 million, which was primarily the result of lower anticipated demand for older-generation APUs, and a technology node transition charge of $33 million.
|
(7)
|
In 2016, we and certain of our subsidiaries completed the sale of a majority of the equity interests in Suzhou TF-AMD Semiconductor Co., Ltd., (formerly AMD Technologies (China) Co., Ltd.), and TF AMD Microelectronics (Penang) Sdn. Bhd. (formerly Advanced Micro Devices Export Sdn. Bhd.), to affiliates of Tongfu Microelectronics Co., Ltd. (formerly Nantong Fujitsu Microelectronics Co., Ltd.) (TFME), a Chinese joint stock company, to form two joint ventures (collectively, the ATMP JV). As a result of the sale, TFME’s affiliates own 85% of the equity interests in each ATMP JV
|
(8)
|
In
2016
, we recognized
$88 million
of licensing gain related to the licensing of certain of our intellectual property (Licensed IP) to two joint ventures formed with Tianjin Haiguang Advanced Technology Investment Co., Ltd. (collectively, the THATIC JV)
|
(9)
|
Total long-term debt, net and other long term liabilities increased by $114 million from 2012 to 2013, primarily due to obligations associated with the license of $157 million of new technology and software, partially offset by the repurchase of $50 million in principal amount of our 6.00% Notes (which is a portion of our outstanding 6.00% Notes). Total long-term debt and other long term liabilities decreased by $534 million from 2015 to 2016, primarily due to $1,048 million of net debt reduction, partially offset by the issuance of $805 million in principal amount of 2.125% Notes net of unamortized discount of $308 million and unamortized financing cost of $14 million, and $38 million increase in other long-term liabilities mainly due to higher technology licenses payable. See Note 11 of our consolidated financial statements for additional information.
|
(10)
|
Amounts retrospectively reflected adoption of Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2015-03, Simplifying the Presentation of Debt Issuance Costs beginning in the first quarter of 2016. We reclassified debt issuance costs from long-term assets to long-term debt, net by $25 million, $30 million, $22 million and $26 million for 2015, 2014, 2013 and 2012, respectively, on our consolidated balance sheets.
|
ITEM 7.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
(i)
|
x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics; and
|
(ii)
|
server and embedded processors, semi-custom System-on-Chip (SoC) products and technology for game consoles. We also license portions of our intellectual property portfolio.
|
•
|
the Computing and Graphics segment, which primarily includes desktop and notebook processors and chipsets, discrete GPUs and professional graphics; and
|
•
|
the Enterprise, Embedded and Semi-Custom segment, which primarily includes server and embedded processors, semi-custom SoC products, development services, technology for game consoles and licensing portions of our intellectual property portfolio.
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Net revenue:
|
|
|
|
|
|
||||||
Computing and Graphics
|
$
|
1,967
|
|
|
$
|
1,805
|
|
|
$
|
3,132
|
|
Enterprise, Embedded and Semi-Custom
|
2,305
|
|
|
2,186
|
|
|
2,374
|
|
|||
Total net revenue
|
$
|
4,272
|
|
|
$
|
3,991
|
|
|
$
|
5,506
|
|
Operating income (loss):
|
|
|
|
|
|
||||||
Computing and Graphics
|
$
|
(238
|
)
|
|
$
|
(502
|
)
|
|
$
|
(76
|
)
|
Enterprise, Embedded and Semi-Custom
|
283
|
|
|
215
|
|
|
399
|
|
|||
All Other
|
(417
|
)
|
|
(194
|
)
|
|
(478
|
)
|
|||
Total operating loss
|
$
|
(372
|
)
|
|
$
|
(481
|
)
|
|
$
|
(155
|
)
|
Interest expense
|
(156
|
)
|
|
(160
|
)
|
|
(177
|
)
|
|||
Other income (expense), net
|
80
|
|
|
(5
|
)
|
|
(66
|
)
|
|||
Loss before income taxes and equity income (loss) of ATMP JV
|
$
|
(448
|
)
|
|
$
|
(646
|
)
|
|
$
|
(398
|
)
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions, except for percentages)
|
||||||||||
Cost of sales
|
$
|
3,274
|
|
|
$
|
2,911
|
|
|
$
|
3,667
|
|
Gross margin
|
998
|
|
|
1,080
|
|
|
1,839
|
|
|||
Gross margin percentage
|
23
|
%
|
|
27
|
%
|
|
33
|
%
|
|||
Research and development
|
1,008
|
|
|
947
|
|
|
1,072
|
|
|||
Marketing, general and administrative
|
460
|
|
|
482
|
|
|
604
|
|
|||
Amortization of acquired intangible assets
|
—
|
|
|
3
|
|
|
14
|
|
|||
Restructuring and other special charges, net
|
(10
|
)
|
|
129
|
|
|
71
|
|
|||
Licensing gain
|
(88
|
)
|
|
—
|
|
|
—
|
|
|||
Goodwill impairment charge
|
—
|
|
|
—
|
|
|
233
|
|
|||
Interest expense
|
(156
|
)
|
|
(160
|
)
|
|
(177
|
)
|
|||
Other income (expense), net
|
80
|
|
|
(5
|
)
|
|
(66
|
)
|
|||
Provision for income taxes
|
39
|
|
|
14
|
|
|
5
|
|
|||
Equity in income (loss) of ATMP JV
|
$
|
(10
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Severance
and related benefits |
|
Other exit
related costs |
|
Total
|
||||||
|
(In millions)
|
||||||||||
Balance as of December 26, 2015
|
$
|
14
|
|
|
$
|
—
|
|
|
$
|
14
|
|
Charges (reversals), net
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|||
Cash payments
|
(10
|
)
|
|
—
|
|
|
(10
|
)
|
|||
Balance as of December 31, 2016
|
$
|
3
|
|
|
$
|
—
|
|
|
$
|
3
|
|
|
Severance
and related
benefits
|
|
Other exit
related
costs
|
|
Total
|
||||||
|
(In millions)
|
||||||||||
Balance as of December 26, 2015
|
$
|
5
|
|
|
$
|
15
|
|
|
$
|
20
|
|
Charges (reversals), net
|
(2
|
)
|
|
(7
|
)
|
|
(9
|
)
|
|||
Cash payments
|
(1
|
)
|
|
(6
|
)
|
|
(7
|
)
|
|||
Balance as of December 31, 2016
|
$
|
2
|
|
|
$
|
2
|
|
|
$
|
4
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Cost of sales
|
$
|
2
|
|
|
$
|
3
|
|
|
$
|
3
|
|
Research and development
|
49
|
|
|
36
|
|
|
44
|
|
|||
Marketing, general and administrative
|
35
|
|
|
24
|
|
|
34
|
|
|||
Total stock-based compensation expense, net of tax of $0
|
$
|
86
|
|
|
$
|
63
|
|
|
$
|
81
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Net cash provided by (used in):
|
|
|
|
|
|
||||||
Operating activities
|
$
|
90
|
|
|
$
|
(226
|
)
|
|
$
|
(98
|
)
|
Investing activities
|
267
|
|
|
147
|
|
|
(12
|
)
|
|||
Financing activities
|
122
|
|
|
59
|
|
|
46
|
|
|||
Net increase (decrease) in cash and cash equivalents
|
$
|
479
|
|
|
$
|
(20
|
)
|
|
$
|
(64
|
)
|
|
Payment due by period
|
||||||||||||||||||||||||||
(In millions)
|
Total
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
2022 and
thereafter |
||||||||||||||
6.75% Notes
|
$
|
196
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
196
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
7.50% Notes
|
350
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
350
|
|
|||||||
7.00% Notes
|
416
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
416
|
|
|||||||
2.125% Notes
|
805
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
805
|
|
|||||||
Other long-term liabilities
|
93
|
|
|
—
|
|
|
49
|
|
|
36
|
|
|
6
|
|
|
—
|
|
|
2
|
|
|||||||
Aggregate interest obligation
(1)
|
601
|
|
|
88
|
|
|
88
|
|
|
81
|
|
|
73
|
|
|
72
|
|
|
199
|
|
|||||||
Operating leases
|
388
|
|
|
49
|
|
|
51
|
|
|
46
|
|
|
43
|
|
|
64
|
|
|
135
|
|
|||||||
Purchase obligations
(2)
|
447
|
|
|
391
|
|
|
37
|
|
|
15
|
|
|
3
|
|
|
1
|
|
|
—
|
|
|||||||
Obligations to GF
(3)
|
3,256
|
|
|
964
|
|
|
748
|
|
|
764
|
|
|
780
|
|
|
—
|
|
|
—
|
|
|||||||
Total contractual obligations
(4)
|
$
|
6,552
|
|
|
$
|
1,492
|
|
|
$
|
973
|
|
|
$
|
1,138
|
|
|
$
|
905
|
|
|
$
|
137
|
|
|
$
|
1,907
|
|
(1)
|
Represents estimated aggregate interest obligations for our outstanding debt obligations that are payable in cash, excluding non-cash amortization of debt issuance costs.
|
(2)
|
We have purchase obligations for goods and services where payments are based, in part, on the volume or type of services we acquire. In those cases, we only included the minimum volume of purchase obligations in the table above. Purchase orders for goods and services that are cancelable upon notice and without significant penalties are not included in the amounts above.
|
(3)
|
These minimum purchase obligations are our contractual minimums and do not necessarily reflect our actual expected expenditures, which could be significantly different. We cannot meaningfully quantify or estimate our future purchase obligations to GF beyond 2020 but expect that our future purchases from GF will continue to be material.
|
(4)
|
Total amount excludes contractual obligations already recorded on our condensed consolidated balance sheets except for debt obligations and other long-term liabilities.
|
Period
|
Price as
Percentage of
Principal Amount
|
Beginning on July 1, 2019 through June 30, 2020
|
103.500%
|
Beginning on July 1, 2020 through June 30, 2021
|
102.333%
|
Beginning on July 1, 2021 through June 30, 2022
|
101.167%
|
On July 1, 2022 and thereafter
|
100.000%
|
ITEM 7A.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
2022 and thereafter
|
|
Total
|
|
2016
Fair Value |
||||||||||||||||
|
(In millions, except for percentages)
|
||||||||||||||||||||||||||||||
Investment Portfolio
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Fixed rate amounts
|
$
|
1,147
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,147
|
|
|
$
|
1,147
|
|
Weighted-average rate
|
0.68
|
%
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.68
|
%
|
|
0.68
|
%
|
||||||||
Variable rate amounts
|
$
|
50
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
50
|
|
|
$
|
50
|
|
Weighted-average rate
|
0.42
|
%
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.42
|
%
|
|
0.42
|
%
|
||||||||
Total Investment Portfolio
|
$
|
1,197
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,197
|
|
|
$
|
1,197
|
|
Debt Obligations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Fixed rate amounts
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
196
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,571
|
|
|
$
|
1,767
|
|
|
$
|
2,313
|
|
Weighted-average effective interest rate
|
—
|
%
|
|
—
|
%
|
|
6.75
|
%
|
|
—
|
%
|
|
—
|
%
|
|
7.62
|
%
|
|
7.53
|
%
|
|
5.75
|
%
|
||||||||
Variable rate amounts
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Weighted-average effective interest rate
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
||||||||
Total Debt Obligations
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
196
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,571
|
|
|
$
|
1,767
|
|
|
$
|
2,313
|
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||||||||||||||
|
Notional
Amount
|
|
Average
Contract
Rate
|
|
Estimated
Fair Value
Gain (Loss)
|
|
Notional
Amount
|
|
Average
Contract
Rate
|
|
Estimated
Fair Value
Gain (Loss)
|
||||||||||
|
(In millions except contract rates)
|
||||||||||||||||||||
Foreign currency forward contracts:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Canadian Dollar
|
$
|
77
|
|
|
1.3189
|
|
|
$
|
(1.2
|
)
|
|
$
|
77
|
|
|
1.2941
|
|
|
$
|
(4.9
|
)
|
Malaysian Ringgit
|
—
|
|
|
—
|
|
|
—
|
|
|
17
|
|
|
4.0581
|
|
|
(1.1
|
)
|
||||
Indian Rupee
|
25
|
|
|
69.8639
|
|
|
0.1
|
|
|
25
|
|
|
68.8560
|
|
|
0.2
|
|
||||
Singapore Dollar
|
18
|
|
|
1.3740
|
|
|
(0.9
|
)
|
|
24
|
|
|
1.4033
|
|
|
(0.1
|
)
|
||||
Taiwan Dollar
|
16
|
|
|
31.9829
|
|
|
—
|
|
|
13
|
|
|
31.8680
|
|
|
(0.4
|
)
|
||||
Chinese Renminbi
|
2
|
|
|
6.9904
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Total
|
$
|
138
|
|
|
|
|
$
|
(2.0
|
)
|
|
$
|
156
|
|
|
|
|
$
|
(6.3
|
)
|
ITEM 8.
|
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
|
|
Year Ended
|
||||||||||
|
December 31,
2016 |
|
December 26,
2015 |
|
December 27,
2014 |
||||||
|
(In millions, except per share amounts)
|
||||||||||
Net revenue
|
$
|
4,272
|
|
|
$
|
3,991
|
|
|
$
|
5,506
|
|
Cost of sales
|
3,274
|
|
|
2,911
|
|
|
3,667
|
|
|||
Gross margin
|
998
|
|
|
1,080
|
|
|
1,839
|
|
|||
Research and development
|
1,008
|
|
|
947
|
|
|
1,072
|
|
|||
Marketing, general and administrative
|
460
|
|
|
482
|
|
|
604
|
|
|||
Amortization of acquired intangible assets
|
—
|
|
|
3
|
|
|
14
|
|
|||
Restructuring and other special charges, net
|
(10
|
)
|
|
129
|
|
|
71
|
|
|||
Licensing gain
|
(88
|
)
|
|
—
|
|
|
—
|
|
|||
Goodwill impairment charge
|
—
|
|
|
—
|
|
|
233
|
|
|||
Operating loss
|
(372
|
)
|
|
(481
|
)
|
|
(155
|
)
|
|||
Interest expense
|
(156
|
)
|
|
(160
|
)
|
|
(177
|
)
|
|||
Other income (expense), net
|
80
|
|
|
(5
|
)
|
|
(66
|
)
|
|||
Loss before equity loss and income taxes
|
(448
|
)
|
|
(646
|
)
|
|
(398
|
)
|
|||
Provision for income taxes
|
39
|
|
|
14
|
|
|
5
|
|
|||
Equity in income (loss) of ATMP JV
|
(10
|
)
|
|
—
|
|
|
—
|
|
|||
Net loss
|
$
|
(497
|
)
|
|
$
|
(660
|
)
|
|
$
|
(403
|
)
|
Net loss per share
|
|
|
|
|
|
||||||
Basic
|
$
|
(0.60
|
)
|
|
$
|
(0.84
|
)
|
|
$
|
(0.53
|
)
|
Diluted
|
$
|
(0.60
|
)
|
|
$
|
(0.84
|
)
|
|
$
|
(0.53
|
)
|
Shares used in per share calculation
|
|
|
|
|
|
||||||
Basic
|
835
|
|
|
783
|
|
|
768
|
|
|||
Diluted
|
835
|
|
|
783
|
|
|
768
|
|
|
Year Ended
|
||||||||||
|
December 31,
2016 |
|
December 26,
2015 |
|
December 27,
2014 |
||||||
|
(In millions)
|
||||||||||
Net loss
|
$
|
(497
|
)
|
|
$
|
(660
|
)
|
|
$
|
(403
|
)
|
Other comprehensive income (loss):
|
|
|
|
|
|
||||||
Unrealized gains (losses) on available-for-sale securities:
|
|
|
|
|
|
||||||
Unrealized gains (losses) arising during period, net of tax effects of $1, $0 and $0
|
—
|
|
|
(2
|
)
|
|
—
|
|
|||
Unrealized gains (losses) on cash flow hedges:
|
|
|
|
|
|
||||||
Unrealized gains (losses) arising during period, net of tax effects of $2, $0 and $0
|
1
|
|
|
(22
|
)
|
|
(9
|
)
|
|||
Reclassification adjustment for (gains) losses realized and included in net loss, net of tax effect of $0
|
2
|
|
|
21
|
|
|
6
|
|
|||
Total change in unrealized gains (losses) on cash flow hedges, net of tax
|
3
|
|
|
(1
|
)
|
|
(3
|
)
|
|||
Total other comprehensive income (loss)
|
3
|
|
|
(3
|
)
|
|
(3
|
)
|
|||
Total comprehensive loss
|
$
|
(494
|
)
|
|
$
|
(663
|
)
|
|
$
|
(406
|
)
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions, except par value amounts)
|
||||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
1,264
|
|
|
$
|
785
|
|
Accounts receivable, net
|
311
|
|
|
533
|
|
||
Inventories, net
|
751
|
|
|
678
|
|
||
Prepayment and other - GLOBALFOUNDRIES
|
32
|
|
|
33
|
|
||
Prepaid expenses
|
63
|
|
|
43
|
|
||
Other current assets
|
109
|
|
|
248
|
|
||
Total current assets
|
2,530
|
|
|
2,320
|
|
||
Property, plant and equipment, net
|
164
|
|
|
188
|
|
||
Goodwill
|
289
|
|
|
278
|
|
||
Investment in ATMP JV
|
59
|
|
|
—
|
|
||
Other assets
|
279
|
|
|
298
|
|
||
Total assets
|
$
|
3,321
|
|
|
$
|
3,084
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Short-term debt
|
$
|
—
|
|
|
$
|
230
|
|
Accounts payable
|
440
|
|
|
279
|
|
||
Payable to GLOBALFOUNDRIES
|
255
|
|
|
245
|
|
||
Payable to ATMP JV
|
128
|
|
|
—
|
|
||
Accrued liabilities
|
391
|
|
|
472
|
|
||
Other current liabilities
|
69
|
|
|
124
|
|
||
Deferred income on shipments to distributors
|
63
|
|
|
53
|
|
||
Total current liabilities
|
1,346
|
|
|
1,403
|
|
||
Long-term debt, net
|
1,435
|
|
|
2,007
|
|
||
Other long-term liabilities
|
124
|
|
|
86
|
|
||
Commitments and contingencies (see Notes 16 and 17)
|
|
|
|
||||
Stockholders’ equity (deficit):
|
|
|
|
||||
Capital stock:
|
|
|
|
||||
Common stock, par value $0.01; 1,500 shares authorized on December 31, 2016 and December 26, 2015; shares issued: 949 shares on December 31, 2016 and 806 shares on December 26, 2015; shares outstanding: 935 shares on December 31, 2016 and 792 shares on December 26, 2015
|
9
|
|
|
8
|
|
||
Additional paid-in capital
|
8,334
|
|
|
7,017
|
|
||
Treasury stock, at cost (14 shares on December 31, 2016 and December 26, 2015 )
|
(119
|
)
|
|
(123
|
)
|
||
Accumulated deficit
|
(7,803
|
)
|
|
(7,306
|
)
|
||
Accumulated other comprehensive loss
|
(5
|
)
|
|
(8
|
)
|
||
Total stockholders’ equity (deficit)
|
416
|
|
|
(412
|
)
|
||
Total liabilities and stockholders’ equity (deficit)
|
$
|
3,321
|
|
|
$
|
3,084
|
|
(1)
Amounts reflected adoption of FASB ASU 2015-17, Balance Sheet Classification of Deferred Taxes beginning in the first quarter of 2016.
|
(2)
Amounts reflected adoption of FASB ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs beginning in the first quarter of 2016.
|
|
Number
of
shares
|
|
Common Stock
|
|
Additional
paid-in
capital
|
|
Treasury
stock
|
|
Accumulated
deficit
|
|
Accumulated
other
comprehensive
loss
|
|
Total
stockholders’
equity (deficit)
|
|||||||||||||
December 28, 2013
|
725
|
|
|
$
|
7
|
|
|
$
|
6,894
|
|
|
$
|
(112
|
)
|
|
$
|
(6,243
|
)
|
|
$
|
(2
|
)
|
|
$
|
544
|
|
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(403
|
)
|
|
—
|
|
|
(403
|
)
|
||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
(3
|
)
|
||||||
Common stock issued under stock-based compensation plans, net of tax withholding
|
16
|
|
|
—
|
|
|
4
|
|
|
(6
|
)
|
|
—
|
|
|
—
|
|
|
(2
|
)
|
||||||
Common stock issued by exercise of warrants
|
35
|
|
|
1
|
|
|
—
|
|
|
(1
|
)
|
|
|
|
|
|
|
|
—
|
|
||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
81
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
81
|
|
||||||
Stock-based compensation related to restructuring and other special charges, net
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5
|
|
||||||
Adjustment to equity component of the 6.00% Notes resulting from debt buyback
|
—
|
|
|
—
|
|
|
(35
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(35
|
)
|
||||||
December 27, 2014
|
776
|
|
|
8
|
|
|
6,949
|
|
|
(119
|
)
|
|
(6,646
|
)
|
|
(5
|
)
|
|
187
|
|
||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(660
|
)
|
|
—
|
|
|
(660
|
)
|
||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
(3
|
)
|
||||||
Common stock issued under stock-based compensation plans, net of tax withholding
|
16
|
|
|
—
|
|
|
5
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
1
|
|
||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
63
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
63
|
|
||||||
December 26, 2015
|
792
|
|
|
8
|
|
|
7,017
|
|
|
(123
|
)
|
|
(7,306
|
)
|
|
(8
|
)
|
|
(412
|
)
|
||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(497
|
)
|
|
—
|
|
|
(497
|
)
|
||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
3
|
|
||||||
Common stock issued under stock-based compensation plans, net of tax withholding
|
27
|
|
|
—
|
|
|
20
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
16
|
|
||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
86
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
86
|
|
||||||
Equity component of the 2.125% Notes, net
|
—
|
|
|
—
|
|
|
305
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
305
|
|
||||||
Warrant issued related to sixth amendment to the WSA
|
—
|
|
|
—
|
|
|
240
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
240
|
|
||||||
Issuance of common stock, net of issuance costs
|
115
|
|
|
1
|
|
|
666
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
667
|
|
||||||
Issuance of common stock to partially settle the 7.00% Notes
|
1
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
8
|
|
||||||
December 31, 2016
|
935
|
|
|
$
|
9
|
|
|
$
|
8,334
|
|
|
$
|
(119
|
)
|
|
$
|
(7,803
|
)
|
|
$
|
(5
|
)
|
|
$
|
416
|
|
|
Year Ended
|
||||||||||
|
December 31,
2016 |
|
December 26,
2015 |
|
December 27,
2014 |
||||||
|
(In millions)
|
||||||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net loss
|
$
|
(497
|
)
|
|
$
|
(660
|
)
|
|
$
|
(403
|
)
|
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
|
|
|
|
|
|
||||||
Net gain on sale of equity interests in ATMP JV
|
(146
|
)
|
|
—
|
|
|
—
|
|
|||
Equity in loss of ATMP JV
|
2
|
|
|
—
|
|
|
—
|
|
|||
Depreciation and amortization
|
133
|
|
|
167
|
|
|
203
|
|
|||
Provision for deferred income taxes
|
11
|
|
|
—
|
|
|
—
|
|
|||
Stock-based compensation expense
|
86
|
|
|
63
|
|
|
81
|
|
|||
Non-cash interest expense
|
21
|
|
|
11
|
|
|
17
|
|
|||
Goodwill impairment charge
|
—
|
|
|
—
|
|
|
233
|
|
|||
Restructuring and other special charges, net
|
—
|
|
|
83
|
|
|
14
|
|
|||
Net loss on debt redemption
|
68
|
|
|
—
|
|
|
61
|
|
|||
Fair value of warrant issued related to sixth amendment to the WSA
|
240
|
|
|
—
|
|
|
—
|
|
|||
Other
|
(8
|
)
|
|
(3
|
)
|
|
(13
|
)
|
|||
Changes in operating assets and liabilities:
|
|
|
|
|
|
||||||
Accounts receivable
|
222
|
|
|
280
|
|
|
7
|
|
|||
Inventories
|
(73
|
)
|
|
(11
|
)
|
|
199
|
|
|||
Prepayment and other - GLOBALFOUNDRIES
|
1
|
|
|
84
|
|
|
(113
|
)
|
|||
Prepaid expenses and other assets
|
(166
|
)
|
|
(111
|
)
|
|
(7
|
)
|
|||
Payable to ATMP JV
|
128
|
|
|
—
|
|
|
—
|
|
|||
Payable to GLOBALFOUNDRIES
|
10
|
|
|
27
|
|
|
(146
|
)
|
|||
Accounts payables, accrued liabilities and other
|
58
|
|
|
(156
|
)
|
|
(231
|
)
|
|||
Net cash provided by (used in) operating activities
|
90
|
|
|
(226
|
)
|
|
(98
|
)
|
|||
Cash flows from investing activities:
|
|
|
|
|
|
||||||
Net Proceeds from sale of equity interests in ATMP JV
|
342
|
|
|
—
|
|
|
—
|
|
|||
Purchases of available-for-sale securities
|
—
|
|
|
(227
|
)
|
|
(790
|
)
|
|||
Purchases of property, plant and equipment
|
(77
|
)
|
|
(96
|
)
|
|
(95
|
)
|
|||
Proceeds from maturities of available-for-sale securities
|
—
|
|
|
462
|
|
|
873
|
|
|||
Proceeds from sale of property, plant and equipment
|
—
|
|
|
8
|
|
|
—
|
|
|||
Other
|
2
|
|
|
—
|
|
|
—
|
|
|||
Net cash provided by (used in) investing activities
|
267
|
|
|
147
|
|
|
(12
|
)
|
|||
Cash flows from financing activities:
|
|
|
|
|
|
||||||
Proceeds from (repayments of) borrowings, net
|
(230
|
)
|
|
100
|
|
|
75
|
|
|||
Proceeds from issuance of senior notes, net of issuance costs
|
782
|
|
|
—
|
|
|
1,080
|
|
|||
Proceeds from issuance of common stock, net of issuance costs
|
667
|
|
|
—
|
|
|
—
|
|
|||
Proceeds from issuance of common stock under stock-based compensation equity plans
|
20
|
|
|
5
|
|
|
4
|
|
|||
Repayments of long-term debt and capital lease obligations
|
(1,113
|
)
|
|
(44
|
)
|
|
(1,115
|
)
|
|||
Other
|
(4
|
)
|
|
(2
|
)
|
|
2
|
|
|||
Net cash provided by financing activities
|
122
|
|
|
59
|
|
|
46
|
|
|||
Net increase (decrease) in cash and cash equivalents
|
479
|
|
|
(20
|
)
|
|
(64
|
)
|
|||
Cash and cash equivalents at beginning of year
|
785
|
|
|
805
|
|
|
869
|
|
|||
Cash and cash equivalents at end of year
|
$
|
1,264
|
|
|
$
|
785
|
|
|
$
|
805
|
|
Supplemental disclosures of cash flow information:
|
|
|
|
|
|
||||||
Cash paid during the year for:
|
|
|
|
|
|
||||||
Interest
|
$
|
149
|
|
|
$
|
149
|
|
|
$
|
138
|
|
Income taxes
|
$
|
20
|
|
|
$
|
3
|
|
|
$
|
7
|
|
Non-cash financing activity:
|
|
|
|
|
|
||||||
Issuance of common stock to partially settle the 7.00% Notes
|
$
|
8
|
|
|
$
|
—
|
|
|
$
|
—
|
|
(i)
|
x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics; and
|
(ii)
|
server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles. We also license portions of our intellectual property portfolio.
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Deferred revenue
|
$
|
124
|
|
|
$
|
94
|
|
Deferred cost of sales
|
(61
|
)
|
|
(41
|
)
|
||
Deferred income on shipments to distributors
|
$
|
63
|
|
|
$
|
53
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions, except per share amounts)
|
||||||||||
Numerator—Net loss:
|
|
|
|
|
|
||||||
Numerator for basic and diluted net loss per share
|
$
|
(497
|
)
|
|
$
|
(660
|
)
|
|
$
|
(403
|
)
|
Denominator—Weighted-average shares:
|
|
|
|
|
|
||||||
Denominator for basic and diluted net loss per share
|
835
|
|
|
783
|
|
|
768
|
|
|||
Net loss per share:
|
|
|
|
|
|
||||||
Basic
|
$
|
(0.60
|
)
|
|
$
|
(0.84
|
)
|
|
$
|
(0.53
|
)
|
Diluted
|
$
|
(0.60
|
)
|
|
$
|
(0.84
|
)
|
|
$
|
(0.53
|
)
|
|
December 31,
2016 |
|
December 26,
2015 |
|||||||||||||||||||
|
Unrealized gains (losses) on available-for-sale securities
|
|
Unrealized gains (losses) on cash flow hedges
|
|
Total
|
|
Unrealized gains (losses) on available-for-sale securities
|
Unrealized gains (losses) on cash flow hedges
|
|
Total
|
||||||||||||
|
(In millions)
|
|||||||||||||||||||||
Beginning balance
|
$
|
(1
|
)
|
|
$
|
(7
|
)
|
|
$
|
(8
|
)
|
|
$
|
1
|
|
$
|
(6
|
)
|
|
$
|
(5
|
)
|
Unrealized gains (losses) arising during the period, net of tax effects
|
—
|
|
|
1
|
|
|
1
|
|
|
(2
|
)
|
(22
|
)
|
|
(24
|
)
|
||||||
Reclassification adjustment for (gains) losses realized and included in net loss, net of tax effects
|
—
|
|
|
2
|
|
|
2
|
|
|
—
|
|
21
|
|
|
21
|
|
||||||
Total other comprehensive income (loss)
|
—
|
|
|
3
|
|
|
3
|
|
|
(2
|
)
|
(1
|
)
|
|
(3
|
)
|
||||||
Ending balance
|
$
|
(1
|
)
|
|
$
|
(4
|
)
|
|
$
|
(5
|
)
|
|
$
|
(1
|
)
|
$
|
(7
|
)
|
|
$
|
(8
|
)
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Raw materials
|
$
|
11
|
|
|
$
|
16
|
|
Work in process
|
564
|
|
|
482
|
|
||
Finished goods
|
176
|
|
|
180
|
|
||
Total inventories, net
|
$
|
751
|
|
|
$
|
678
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Assets held-for-sale
|
$
|
—
|
|
|
$
|
183
|
|
Other current assets
|
109
|
|
|
65
|
|
||
Total other current assets
|
$
|
109
|
|
|
$
|
248
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Leasehold improvements
|
$
|
148
|
|
|
$
|
146
|
|
Equipment
|
714
|
|
|
821
|
|
||
Construction in progress
|
19
|
|
|
17
|
|
||
Property, plant and equipment, gross
|
881
|
|
|
984
|
|
||
Accumulated depreciation and amortization
|
(717
|
)
|
|
(796
|
)
|
||
Total property, plant and equipment, net
|
$
|
164
|
|
|
$
|
188
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Software and technology licenses, net
|
$
|
232
|
|
|
$
|
189
|
|
Other
|
47
|
|
|
109
|
|
||
Total other assets
|
$
|
279
|
|
|
$
|
298
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Accrued compensation and benefits
|
$
|
116
|
|
|
$
|
95
|
|
Marketing programs and advertising expenses
|
102
|
|
|
109
|
|
||
Software technology and licenses payable
|
24
|
|
|
50
|
|
||
Other accrued and current liabilities
|
149
|
|
|
218
|
|
||
Total accrued liabilities
|
$
|
391
|
|
|
$
|
472
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Liabilities related to assets held-for-sale
|
$
|
—
|
|
|
$
|
79
|
|
Other current liabilities
|
69
|
|
|
45
|
|
||
Total other current liabilities
|
$
|
69
|
|
|
$
|
124
|
|
|
Computing and Graphics
|
|
Enterprise, Embedded and Semi-Custom
|
|
All Other
|
|
Total
|
||||||||
|
(In millions)
|
||||||||||||||
Initial goodwill due to ATI acquisition
|
$
|
1,194
|
|
|
$
|
255
|
|
|
$
|
745
|
|
|
$
|
2,194
|
|
Initial goodwill due to SeaMicro acquisition
|
165
|
|
|
65
|
|
|
—
|
|
|
230
|
|
||||
|
1,359
|
|
|
320
|
|
|
745
|
|
|
2,424
|
|
||||
Accumulated impairment losses
|
(1,359
|
)
|
|
—
|
|
|
(745
|
)
|
|
(2,104
|
)
|
||||
Balance as of December 27, 2014
|
—
|
|
|
320
|
|
|
—
|
|
|
320
|
|
||||
Assets held-for-sale (sold to ATMP JV during 2016)
|
|
|
(42
|
)
|
|
|
|
(42
|
)
|
||||||
Balance as of December 26, 2015
|
—
|
|
|
278
|
|
|
—
|
|
|
278
|
|
||||
Adjustment to assets sold to ATMP JV
|
—
|
|
|
11
|
|
|
—
|
|
|
11
|
|
||||
Balance as of December 31, 2016
|
—
|
|
|
289
|
|
|
—
|
|
|
289
|
|
||||
Goodwill, gross
|
1,359
|
|
|
289
|
|
|
745
|
|
|
2,424
|
|
||||
Accumulated impairment losses
|
$
|
(1,359
|
)
|
|
$
|
—
|
|
|
$
|
(745
|
)
|
|
$
|
(2,104
|
)
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
(In millions)
|
||||||||||
Developed technology
|
|
$
|
—
|
|
|
$
|
3
|
|
|
$
|
13
|
|
Customer relationships
|
|
—
|
|
|
—
|
|
|
1
|
|
|||
Total
|
|
$
|
—
|
|
|
$
|
3
|
|
|
$
|
14
|
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
|
(In millions)
|
||||||
Cash and cash equivalents
|
|
|
|
|
||||
Cash
|
|
$
|
67
|
|
|
$
|
409
|
|
Level 1
(1) (2)
|
|
|
|
|
||||
Government money market funds
|
|
50
|
|
|
—
|
|
||
Total level 1
|
|
50
|
|
|
—
|
|
||
Level 2
(1) (3)
|
|
|
|
|
||||
Commercial paper
|
|
1,147
|
|
|
376
|
|
||
Total level 2
|
|
1,147
|
|
|
376
|
|
||
Total
|
|
$
|
1,264
|
|
|
$
|
785
|
|
(1)
|
The Company did not have any transfers between Level 1 and Level 2 of the fair value hierarchy during 2016 and 2015.
|
(2)
|
The Company's Level 1 assets are valued using quoted prices for identical instruments in active markets.
|
(3)
|
The Company’s Level 2 assets are valued using broker reports that utilize quoted market prices for identical or comparable instruments. Brokers gather observable inputs for all of the Company’s fixed income securities from a variety of industry data providers and other third-party sources.
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||||||||
|
Carrying
Amount
|
|
Estimated
Fair Value
|
|
Carrying
Amount
|
|
Estimated
Fair Value
|
||||||||
|
(In millions)
|
||||||||||||||
Short-term debt
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
230
|
|
|
$
|
230
|
|
Long-term debt, net
(1)
|
$
|
1,434
|
|
|
$
|
2,313
|
|
|
$
|
2,000
|
|
|
$
|
1,372
|
|
(1)
|
Carrying amounts of long-term debt are net of unamortized debt issuance costs of
$25 million
as of
December 31, 2016
and
December 26, 2015
, based on the adoption of ASU 2015-03, and net of
$308 million
unamortized debt discount associated with the
2.125%
Notes as of
December 31, 2016
.
|
|
2016
|
|
2015
|
||||
|
(In millions)
|
||||||
Foreign Currency Forward Contracts - gains (losses)
|
|
|
|
||||
Contracts designated as cash flow hedging instruments
|
|
|
|
||||
Other comprehensive income (loss)
|
$
|
4
|
|
|
$
|
(1
|
)
|
Cost of sales
|
—
|
|
|
(4
|
)
|
||
Research and development
|
(1
|
)
|
|
(10
|
)
|
||
Marketing, general and administrative
|
—
|
|
|
(7
|
)
|
||
Contracts not designated as hedging instruments
|
|
|
|
||||
Other income (expense), net
|
$
|
3
|
|
|
$
|
(3
|
)
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
|
(In millions)
|
||||||
Foreign Currency Forward Contracts
- gains (losses)
|
|
|
|
|
||||
Contracts designated as cash flow hedging instruments
|
|
$
|
(2
|
)
|
|
$
|
(6
|
)
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
|
(In millions)
|
||||||
Interest Rate Swap Contracts
- gains (losses)
|
|
|
|
|
||||
Contracts designated as fair value hedging instruments
|
|
$
|
—
|
|
|
$
|
7
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Current:
|
|
|
|
|
|
||||||
U.S. Federal
|
$
|
(2
|
)
|
|
$
|
(1
|
)
|
|
$
|
(1
|
)
|
U.S. State and Local
|
—
|
|
|
—
|
|
|
—
|
|
|||
Foreign National and Local
|
21
|
|
|
16
|
|
|
6
|
|
|||
Total
|
19
|
|
|
15
|
|
|
5
|
|
|||
Deferred:
|
|
|
|
|
|
||||||
U.S. Federal
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Foreign National and Local
|
21
|
|
|
(1
|
)
|
|
—
|
|
|||
Total
|
20
|
|
|
(1
|
)
|
|
—
|
|
|||
Provision for income taxes
|
$
|
39
|
|
|
$
|
14
|
|
|
$
|
5
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
U.S.
|
$
|
(604
|
)
|
|
$
|
(1,100
|
)
|
|
$
|
(621
|
)
|
Foreign
|
146
|
|
|
454
|
|
|
223
|
|
|||
Total pre-tax loss including ATMP JV equity loss
|
$
|
(458
|
)
|
|
$
|
(646
|
)
|
|
$
|
(398
|
)
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Deferred tax assets:
|
|
|
|
||||
Net operating loss carryovers
|
$
|
2,480
|
|
|
$
|
2,342
|
|
Deferred distributor income
|
26
|
|
|
20
|
|
||
Inventory valuation
|
26
|
|
|
39
|
|
||
Accrued expenses not currently deductible
|
65
|
|
|
74
|
|
||
Acquired intangibles
|
213
|
|
|
257
|
|
||
Tax deductible goodwill
|
146
|
|
|
192
|
|
||
Federal and state tax credit carryovers
|
427
|
|
|
400
|
|
||
Foreign capitalized research and development costs
|
—
|
|
|
60
|
|
||
Foreign research and development ITC credits
|
341
|
|
|
231
|
|
||
Discount of convertible notes
|
2
|
|
|
1
|
|
||
Other
|
83
|
|
|
119
|
|
||
Total deferred tax assets
|
3,809
|
|
|
3,735
|
|
||
Less: valuation allowance
|
(3,633
|
)
|
|
(3,669
|
)
|
||
Total deferred tax assets, net of valuation allowance
|
176
|
|
|
66
|
|
||
Deferred tax liabilities:
|
|
|
|
||||
Undistributed foreign earnings
|
(158
|
)
|
|
(33
|
)
|
||
Other
|
(18
|
)
|
|
(23
|
)
|
||
Total deferred tax liabilities
|
(176
|
)
|
|
(56
|
)
|
||
Net deferred tax assets
|
$
|
—
|
|
|
$
|
10
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Current deferred tax assets
|
$
|
—
|
|
|
$
|
8
|
|
Non-current deferred tax assets
|
11
|
|
|
48
|
|
||
Current deferred tax liabilities
|
—
|
|
|
(46
|
)
|
||
Non-current deferred tax liabilities
|
$
|
(11
|
)
|
|
$
|
—
|
|
Net deferred tax assets
|
$
|
—
|
|
|
$
|
10
|
|
Carryforward
|
Federal
|
|
State /
Provincial
|
|
Expiration
|
||||
|
(In millions)
|
|
|
||||||
U.S.-net operating loss carryovers
|
$
|
6,973
|
|
|
$
|
348
|
|
|
2017 to 2036
|
U.S.-credit carryovers
|
$
|
398
|
|
|
$
|
209
|
|
|
2017 to 2036
|
Canada-net operating loss carryovers
|
$
|
13
|
|
|
$
|
13
|
|
|
2027 to 2028
|
Canada-credit carryovers
|
$
|
331
|
|
|
$
|
39
|
|
|
2021 to 2036
|
Barbados-net operating loss carryovers
|
$
|
29
|
|
|
N/A
|
|
|
2017
|
|
Other foreign net operating loss carryovers
|
$
|
36
|
|
|
N/A
|
|
|
various
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Statutory federal income tax benefit at 35% rate
|
$
|
(160
|
)
|
|
$
|
(226
|
)
|
|
$
|
(139
|
)
|
State taxes, net of federal benefit
|
1
|
|
|
1
|
|
|
1
|
|
|||
Foreign (income) expense at other than U.S. rates
|
(1
|
)
|
|
9
|
|
|
1
|
|
|||
U.S. valuation allowance generated
|
201
|
|
|
232
|
|
|
144
|
|
|||
Credit monetization
|
(2
|
)
|
|
(2
|
)
|
|
(2
|
)
|
|||
Provision for income taxes
|
$
|
39
|
|
|
$
|
14
|
|
|
$
|
5
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Balance at beginning of year
|
$
|
38
|
|
|
$
|
28
|
|
|
$
|
52
|
|
Increases for tax positions taken in prior years
|
3
|
|
|
11
|
|
|
1
|
|
|||
Decreases for tax positions taken in prior years
|
—
|
|
|
(1
|
)
|
|
—
|
|
|||
Increases for tax positions taken in the current year
|
2
|
|
|
2
|
|
|
2
|
|
|||
Decreases for settlements with taxing authorities
|
—
|
|
|
(2
|
)
|
|
(27
|
)
|
|||
Decreases for lapsing of the statute of limitations
|
(1
|
)
|
|
—
|
|
|
—
|
|
|||
Balance at end of year
|
$
|
42
|
|
|
$
|
38
|
|
|
$
|
28
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
6.75% Notes
|
$
|
196
|
|
|
$
|
600
|
|
6.75% Notes, interest rate swap
|
—
|
|
|
7
|
|
||
7.75% Notes
|
—
|
|
|
450
|
|
||
7.50% Notes
|
350
|
|
|
475
|
|
||
7.00% Notes
|
416
|
|
|
500
|
|
||
2.125% Notes
|
805
|
|
|
—
|
|
||
Secured Revolving Line of Credit
|
—
|
|
|
230
|
|
||
Other
|
1
|
|
|
—
|
|
||
Total debt (principal amount)
|
1,768
|
|
|
2,262
|
|
||
Unamortized debt discount associated with 2.125% Notes
|
(308
|
)
|
|
—
|
|
||
Unamortized debt issuance costs
|
(25
|
)
|
|
(25
|
)
|
||
Total debt (net)
|
1,435
|
|
|
2,237
|
|
||
Less: current portion
|
—
|
|
|
230
|
|
||
Total debt, less current portion
|
$
|
1,435
|
|
|
$
|
2,007
|
|
|
December 31,
2016 |
||
|
(In millions)
|
||
Principal amounts:
|
|
||
Principal
|
$
|
805
|
|
Unamortized debt discount
(1)
|
(308
|
)
|
|
Unamortized debt issuance costs
|
(14
|
)
|
|
Net carrying amount
|
$
|
483
|
|
Carrying amount of the equity component, net
(2)
|
$
|
305
|
|
(1)
|
Included in the consolidated balance sheets within Long-term debt, net and amortized over the remaining life of the notes using the effective interest rate method.
|
(2)
|
Included in the consolidated balance sheets within additional paid-in capital, net of
$9 million
in equity issuance costs.
|
|
December 31,
2016 |
||
|
(In millions)
|
||
Contractual interest expense
|
$
|
5
|
|
Interest cost related to amortization of debt issuance costs
|
—
|
|
|
Interest cost related to amortization of the debt discount
|
$
|
6
|
|
•
|
incur additional indebtedness, except specified permitted debt;
|
•
|
pay dividends and make other restricted payments;
|
•
|
make certain investments if an event of a default exists, or if specified financial conditions are not satisfied;
|
•
|
create or permit certain liens;
|
•
|
create or permit restrictions on the ability of its subsidiaries to pay dividends or make other distributions to the Company;
|
•
|
use the proceeds from sales of assets;
|
•
|
enter into certain types of transactions with affiliates; and
|
•
|
consolidate, merge or sell its assets as entirety or substantially as an entirety.
|
•
|
create or permit restrictions on the ability of its subsidiaries to pay dividends or make other distributions to the Company;
|
Period
|
Price as
Percentage of Principal Amount |
|
Beginning on July 1, 2019 through June 30, 2020
|
103.500
|
%
|
Beginning on July 1, 2020 through June 30, 2021
|
102.333
|
%
|
Beginning on July 1, 2021 through June 30, 2022
|
101.167
|
%
|
On July 1, 2022 and thereafter
|
100.000
|
%
|
•
|
incur additional indebtedness, except specified permitted debt;
|
•
|
pay dividends and make other restricted payments;
|
•
|
make certain investments if an event of a default exists, or if specified financial conditions are not satisfied;
|
•
|
create or permit certain liens;
|
•
|
create or permit restrictions on the ability of its subsidiaries to pay dividends or make other distributions to the Company;
|
•
|
use the proceeds from sales of assets;
|
•
|
enter into certain types of transactions with affiliates; and
|
•
|
consolidate, merge or sell its assets as entirety or substantially as an entirety.
|
Level
|
|
Average
Availability for
Last Fiscal
Month
|
|
Base Rate
Revolver Loans:
Applicable Margin
|
|
LIBOR
Revolver Loans:
Applicable Margin
|
I
|
|
greater than or equal to 66.66% of the Revolver Commitment
|
|
0.5%
|
|
1.5%
|
II
|
|
greater than or equal to 33.33% of the Revolver Commitment, less than 66.66%
|
|
0.75%
|
|
1.75%
|
III
|
|
less than 33.33% of the Revolver Commitment
|
|
1%
|
|
2%
|
|
Long Term Debt (Principal only)
|
||
|
(In millions)
|
||
2017
|
$
|
—
|
|
2018
|
—
|
|
|
2019
|
196
|
|
|
2020
|
—
|
|
|
2021
|
—
|
|
|
2022 and thereafter
|
1,571
|
|
|
Total
|
$
|
1,767
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Interest income
|
$
|
2
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Gain on sale of 85% ATMP JV
|
146
|
|
|
—
|
|
|
—
|
|
|||
Loss on debt redemption
|
(68
|
)
|
|
—
|
|
|
(61
|
)
|
|||
Other
|
—
|
|
|
(5
|
)
|
|
(5
|
)
|
|||
Other income (expense), net
|
$
|
80
|
|
|
$
|
(5
|
)
|
|
$
|
(66
|
)
|
•
|
the Computing and Graphics segment, which primarily includes desktop and notebook processors and chipsets, discrete graphics processing units (GPUs) and professional graphics; and
|
•
|
the Enterprise, Embedded and Semi-Custom segment, which primarily includes server and embedded processors, semi-custom System-on-Chip (SoC) products, development services, technology for game consoles and licensing portions of its intellectual property portfolio.
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Net revenue:
|
|
|
|
|
|
||||||
Computing and Graphics
|
$
|
1,967
|
|
|
$
|
1,805
|
|
|
$
|
3,132
|
|
Enterprise, Embedded and Semi-Custom
|
2,305
|
|
|
2,186
|
|
|
2,374
|
|
|||
Total net revenue
|
$
|
4,272
|
|
|
$
|
3,991
|
|
|
$
|
5,506
|
|
Operating income (loss):
|
|
|
|
|
|
||||||
Computing and Graphics
|
$
|
(238
|
)
|
|
$
|
(502
|
)
|
|
$
|
(76
|
)
|
Enterprise, Embedded and Semi-Custom
|
283
|
|
|
215
|
|
|
399
|
|
|||
All Other
|
(417
|
)
|
|
(194
|
)
|
|
(478
|
)
|
|||
Total operating loss
|
$
|
(372
|
)
|
|
$
|
(481
|
)
|
|
$
|
(155
|
)
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Operating loss:
|
|
|
|
|
|
||||||
Stock-based compensation expense
|
$
|
(86
|
)
|
|
$
|
(63
|
)
|
|
$
|
(81
|
)
|
Restructuring and other special charges, net
|
10
|
|
|
(129
|
)
|
|
(71
|
)
|
|||
Amortization of acquired intangible assets
|
—
|
|
|
(3
|
)
|
|
(14
|
)
|
|||
Charge related to the Sixth Amendment to the WSA with GF
|
(340
|
)
|
|
—
|
|
|
—
|
|
|||
Goodwill impairment
|
—
|
|
|
—
|
|
|
(233
|
)
|
|||
Lower of cost or market inventory adjustment
|
—
|
|
|
—
|
|
|
(58
|
)
|
|||
Workforce rebalancing severance charges
|
—
|
|
|
—
|
|
|
(14
|
)
|
|||
Other
|
(1
|
)
|
|
1
|
|
|
(7
|
)
|
|||
Total operating loss
|
$
|
(417
|
)
|
|
$
|
(194
|
)
|
|
$
|
(478
|
)
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
United States
|
$
|
923
|
|
|
$
|
984
|
|
|
$
|
1,030
|
|
Europe
|
155
|
|
|
168
|
|
|
325
|
|
|||
China
|
1,108
|
|
|
1,145
|
|
|
2,324
|
|
|||
Singapore
|
571
|
|
|
356
|
|
|
371
|
|
|||
Japan
|
1,443
|
|
|
1,254
|
|
|
1,324
|
|
|||
Other countries
|
72
|
|
|
84
|
|
|
132
|
|
|||
Total sales to external customers
|
$
|
4,272
|
|
|
$
|
3,991
|
|
|
$
|
5,506
|
|
|
2016
|
|
2015
|
|
2014
|
|||
Customer A
|
33
|
%
|
|
31
|
%
|
|
23
|
%
|
Customer B
|
16
|
%
|
|
18
|
%
|
|
13
|
%
|
Customer C
|
10
|
%
|
|
8
|
%
|
|
13
|
%
|
|
2016
|
|
2015
|
||||
|
(In millions)
|
||||||
United States
|
$
|
104
|
|
|
$
|
123
|
|
Malaysia
|
9
|
|
|
11
|
|
||
China
|
7
|
|
|
5
|
|
||
Singapore
|
24
|
|
|
25
|
|
||
Other countries
|
20
|
|
|
24
|
|
||
Total long-lived assets
|
$
|
164
|
|
|
$
|
188
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Cost of sales
|
$
|
2
|
|
|
$
|
3
|
|
|
$
|
3
|
|
Research and development
|
49
|
|
|
36
|
|
|
44
|
|
|||
Marketing, general, and administrative
|
35
|
|
|
24
|
|
|
34
|
|
|||
Total stock-based compensation expense, net of tax of $0
|
$
|
86
|
|
|
$
|
63
|
|
|
$
|
81
|
|
|
2016
|
|
2015
|
|
2014
|
|||
Expected volatility
|
62.33
|
%
|
|
60.14
|
%
|
|
53.36
|
%
|
Risk-free interest rate
|
1.02
|
%
|
|
1.29
|
%
|
|
1.15
|
%
|
Expected dividends
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
Expected life (in years)
|
3.98
|
|
|
3.91
|
|
|
3.86
|
|
|
2016
|
|
2015
|
|
2014
|
|||||||||||||||
|
Number
of Shares
|
|
Weighted-
Average
Exercise
Price
|
|
Number
of Shares
|
|
Weighted-
Average
Exercise
Price
|
|
Number
of Shares
|
|
Weighted-
Average
Exercise
Price
|
|||||||||
|
(In millions, except share price)
|
|||||||||||||||||||
Stock options:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Outstanding at beginning of year
|
32
|
|
|
$
|
4.44
|
|
|
36
|
|
|
$
|
4.78
|
|
|
35
|
|
|
$
|
5.08
|
|
Granted
|
2
|
|
|
$
|
6.98
|
|
|
8
|
|
|
$
|
2.12
|
|
|
8
|
|
|
$
|
3.73
|
|
Canceled
|
(9
|
)
|
|
$
|
5.53
|
|
|
(9
|
)
|
|
$
|
4.91
|
|
|
(4
|
)
|
|
$
|
7.64
|
|
Exercised
|
(5
|
)
|
|
$
|
4.75
|
|
|
(3
|
)
|
|
$
|
1.61
|
|
|
(3
|
)
|
|
$
|
1.47
|
|
Outstanding at end of year
|
20
|
|
|
$
|
4.15
|
|
|
32
|
|
|
$
|
4.44
|
|
|
36
|
|
|
$
|
4.78
|
|
Exercisable at end of year
|
13
|
|
|
$
|
4.32
|
|
|
21
|
|
|
$
|
5.34
|
|
|
23
|
|
|
$
|
5.28
|
|
|
2016
|
|
2015
|
|
2014
|
|||||||||||||||
|
Number
of Shares
|
|
Weighted-
Average
Fair Value
|
|
Number
of Shares
|
|
Weighted-
Average
Fair Value
|
|
Number
of Shares
|
|
Weighted-
Average
Fair Value
|
|||||||||
|
(In millions except share price)
|
|||||||||||||||||||
Unvested balance at beginning of period
|
51
|
|
|
$
|
2.61
|
|
|
43
|
|
|
$
|
4.05
|
|
|
40
|
|
|
$
|
4.52
|
|
Granted
|
29
|
|
|
$
|
4.72
|
|
|
38
|
|
|
$
|
2.03
|
|
|
23
|
|
|
$
|
3.89
|
|
Forfeited
|
(5
|
)
|
|
$
|
2.95
|
|
|
(15
|
)
|
|
$
|
3.71
|
|
|
(5
|
)
|
|
$
|
4.48
|
|
Vested
|
(23
|
)
|
|
$
|
2.56
|
|
|
(15
|
)
|
|
$
|
4.13
|
|
|
(15
|
)
|
|
$
|
4.90
|
|
Unvested balance at end of period
|
52
|
|
|
$
|
3.73
|
|
|
51
|
|
|
$
|
2.61
|
|
|
43
|
|
|
$
|
4.05
|
|
|
2016
|
|
2015
|
|
2014
|
|||
|
(Shares in millions)
|
|||||||
Unvested shares at beginning of period
|
7
|
|
|
9
|
|
|
5
|
|
Granted
|
5
|
|
|
5
|
|
|
5
|
|
Forfeited
|
(2
|
)
|
|
(7
|
)
|
|
(1
|
)
|
Vested
|
(5
|
)
|
|
—
|
|
|
—
|
|
Unvested shares at end of period
|
5
|
|
|
7
|
|
|
9
|
|
Year
|
Operating
leases
|
||
|
(In millions)
|
||
2017
|
$
|
49
|
|
2018
|
51
|
|
|
2019
|
46
|
|
|
2020
|
43
|
|
|
2021
|
64
|
|
|
2022 and thereafter
|
135
|
|
|
Total non-cancelable operating lease commitments
|
$
|
388
|
|
Year
|
Unconditional purchase obligations
|
||
|
(In millions)
|
||
2017
|
$
|
391
|
|
2018
|
86
|
|
|
2019
|
51
|
|
|
2020
|
9
|
|
|
2021
|
1
|
|
|
2022 and thereafter
|
—
|
|
|
Total unconditional purchase commitments
|
$
|
538
|
|
|
December 31,
2016 |
|
December 26,
2015 |
||||
|
(In millions)
|
||||||
Beginning balance
|
$
|
15
|
|
|
$
|
19
|
|
New warranties issued during the period
|
21
|
|
|
28
|
|
||
Settlements during the period
|
(19
|
)
|
|
(26
|
)
|
||
Changes in liability for pre-existing warranties during the period, including expirations
|
(5
|
)
|
|
(6
|
)
|
||
Ending balance
|
$
|
12
|
|
|
$
|
15
|
|
|
Severance
and related benefits |
|
Other exit
related costs |
|
Total
|
||||||
|
(In millions)
|
||||||||||
Balance as of December 26, 2015
|
$
|
14
|
|
|
$
|
—
|
|
|
$
|
14
|
|
Charges (reversals), net
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|||
Cash payments
|
(10
|
)
|
|
—
|
|
|
(10
|
)
|
|||
Balance as of December 31, 2016
|
$
|
3
|
|
|
$
|
—
|
|
|
$
|
3
|
|
|
Severance
and related
benefits
|
|
Other exit
related
costs
|
|
Total
|
||||||
|
(In millions)
|
||||||||||
Balance as of December 26, 2015
|
$
|
5
|
|
|
$
|
15
|
|
|
$
|
20
|
|
Charges (reversals), net
|
(2
|
)
|
|
(7
|
)
|
|
(9
|
)
|
|||
Cash payments
|
(1
|
)
|
|
(6
|
)
|
|
(7
|
)
|
|||
Balance as of December 31, 2016
|
$
|
2
|
|
|
$
|
2
|
|
|
$
|
4
|
|
|
(In millions, except per share amounts)
|
||||||||||||||||||||||||||||||
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
Dec. 31
|
|
Sep. 24
|
|
Jun. 25
|
|
Mar. 26
|
|
Dec. 26
|
|
Sep. 26
|
|
Jun. 27
|
|
Mar. 28
|
||||||||||||||||
Net revenue
|
$
|
1,106
|
|
|
$
|
1,307
|
|
|
$
|
1,027
|
|
|
$
|
832
|
|
|
$
|
958
|
|
|
$
|
1,061
|
|
|
$
|
942
|
|
|
$
|
1,030
|
|
Cost of sales
(1)
|
755
|
|
|
1,248
|
|
|
708
|
|
|
563
|
|
|
675
|
|
|
822
|
|
|
710
|
|
|
704
|
|
||||||||
Gross margin
|
351
|
|
|
59
|
|
|
319
|
|
|
269
|
|
|
283
|
|
|
239
|
|
|
232
|
|
|
326
|
|
||||||||
Research and development
|
264
|
|
|
259
|
|
|
243
|
|
|
242
|
|
|
229
|
|
|
241
|
|
|
235
|
|
|
242
|
|
||||||||
Marketing, general and administrative
|
121
|
|
|
117
|
|
|
117
|
|
|
105
|
|
|
109
|
|
|
108
|
|
|
134
|
|
|
131
|
|
||||||||
Amortization of acquired intangible assets
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
||||||||
Restructuring and other special charges (reversals), net
|
—
|
|
|
—
|
|
|
(7
|
)
|
|
(3
|
)
|
|
(6
|
)
|
|
48
|
|
|
—
|
|
|
87
|
|
||||||||
Licensing gain
|
(31
|
)
|
|
(24
|
)
|
|
(26
|
)
|
|
(7
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Operating income (loss)
|
(3
|
)
|
|
(293
|
)
|
|
(8
|
)
|
|
(68
|
)
|
|
(49
|
)
|
|
(158
|
)
|
|
(137
|
)
|
|
(137
|
)
|
||||||||
Interest expense
|
(34
|
)
|
|
(41
|
)
|
|
(41
|
)
|
|
(40
|
)
|
|
(41
|
)
|
|
(39
|
)
|
|
(40
|
)
|
|
(40
|
)
|
||||||||
Other income (expense), net
(2)
|
(7
|
)
|
|
(63
|
)
|
|
150
|
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
||||||||
Income (loss) before income taxes
|
(44
|
)
|
|
(397
|
)
|
|
101
|
|
|
(108
|
)
|
|
(92
|
)
|
|
(197
|
)
|
|
(180
|
)
|
|
(177
|
)
|
||||||||
Provision for income taxes
|
5
|
|
|
4
|
|
|
29
|
|
|
1
|
|
|
10
|
|
|
—
|
|
|
1
|
|
|
3
|
|
||||||||
Equity in income (loss) of ATMP JV
|
(2
|
)
|
|
(5
|
)
|
|
(3
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Net income (loss)
|
(51
|
)
|
|
(406
|
)
|
|
69
|
|
|
(109
|
)
|
|
(102
|
)
|
|
(197
|
)
|
|
(181
|
)
|
|
(180
|
)
|
||||||||
Net income (loss) per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Basic
|
$
|
(0.06
|
)
|
|
$
|
(0.50
|
)
|
|
$
|
0.09
|
|
|
$
|
(0.14
|
)
|
|
$
|
(0.13
|
)
|
|
$
|
(0.25
|
)
|
|
$
|
(0.23
|
)
|
|
$
|
(0.23
|
)
|
Diluted
|
$
|
(0.06
|
)
|
|
$
|
(0.50
|
)
|
|
$
|
0.08
|
|
|
$
|
(0.14
|
)
|
|
$
|
(0.13
|
)
|
|
$
|
(0.25
|
)
|
|
$
|
(0.23
|
)
|
|
$
|
(0.23
|
)
|
Shares used in per share calculation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Basic
|
931
|
|
|
815
|
|
|
794
|
|
|
793
|
|
|
791
|
|
|
785
|
|
|
778
|
|
|
777
|
|
||||||||
Diluted
|
931
|
|
|
815
|
|
|
821
|
|
|
793
|
|
|
791
|
|
|
785
|
|
|
778
|
|
|
777
|
|
(1)
|
During the third quarter of 2016, the Company recorded a charge of
$340 million
, consisting of the
$100 million
payment under the Sixth Amendment and the
$240 million
value of the warrant under the Warrant Agreement issued in consideration of the Sixth Amendment. During 2015, the Company recorded a technology node transition charge of
$33 million
in the second quarter and an inventory write-down of
$65 million
in the third quarter.
|
(2)
|
The Company recorded a pre-tax gain of
$150 million
on the sale of its
85%
equity interest in ATMP JV
during the second quarter of 2016. During the third quarter of 2016, as a result of certain purchase price adjustments, the Company recognized a charge of
$4 million
.
|
ITEM 9.
|
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
|
ITEM 9A.
|
CONTROLS AND PROCEDURES
|
ITEM 9B.
|
OTHER INFORMATION
|
ITEM 10.
|
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
|
ITEM 11.
|
EXECUTIVE COMPENSATION
|
ITEM 12.
|
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
|
ITEM 13.
|
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE
|
ITEM 14.
|
PRINCIPAL ACCOUNTING FEES AND SERVICES
|
ITEM 15.
|
EXHIBITS, FINANCIAL STATEMENT SCHEDULES
|
Exhibit
|
Description of Exhibits
|
||||
|
|
|
|||
|
3.1
|
|
|
Amended and Restated Certificate of Incorporation of Advanced Micro Devices, Inc., dated May 8, 2007, filed as Exhibit 3.1 to AMD’s Quarterly Report on Form 10-Q for the period ended March 31, 2007, is hereby incorporated by reference.
|
|
|
|
|
|
||
|
3.2
|
|
|
Advanced Micro Devices, Inc. Amended and Restated Bylaws, as amended on July 30, 2009, filed as Exhibit 3.1 to AMD’s Current Report on Form 8-K dated July 30, 2009, are hereby incorporated by reference.
|
|
|
|
|
|
||
|
4.1
|
|
|
AMD hereby agrees to file on request of the SEC a copy of all instruments not otherwise filed with respect to AMD’s long-term debt or any of its subsidiaries for which the total amount of securities authorized under such instruments does not exceed 10 percent of the total assets of AMD and its subsidiaries on a consolidated basis.
|
|
|
|
|
|
||
|
4.2
|
|
|
Indenture governing 6.00% Convertible Senior Notes due 2015, including the Form of 6.00% Senior Note due 2015, between Advanced Micro Devices, Inc. and Wells Fargo Bank, N.A., dated April 27, 2007, filed as Exhibit 4.1 to AMD’s Current Report on Form 8-K dated April 24, 2007, is hereby incorporated by reference.
|
|
|
|
|
|
||
|
4.3
|
|
|
Indenture governing 7.75% Senior Notes due 2020, including the Form of 7.75% Note, between Advanced Micro Devices, Inc. and Wells Fargo Bank, N.A., dated August 4, 2010, filed as Exhibit 4.1 to AMD’s Current Report on Form 8-K dated August 4, 2010, is hereby incorporated by reference.
|
|
|
|
|
|
||
|
4.4
|
|
|
Indenture governing 7.50% Senior Notes due 2022, including the Form of 7.50% Note, between Advanced Micro Devices, Inc. and Wells Fargo Bank, N.A., dated as of August 15, 2012, filed as Exhibit 4.1 to AMD’s Current Report on Form 8-K dated August 15, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
||
|
4.5
|
|
|
Indenture governing the 6.75% Senior Notes due 2019, including the form of the 6.75% Note, between Advanced Micro Devices, Inc. and Wells Fargo, N.A., as Trustee, dated February 26, 2014, filed as Exhibit 4.1 to AMD’s Current Report on Form 8-K dated February 26, 2014 is hereby incorporated by reference.
|
|
|
|
|
|
||
|
4.6
|
|
|
Indenture governing 7.00% Senior Notes due 2024, including the Form of 7.00% Senior Note due 2024, between Advanced Micro Devices, Inc. and Wells Fargo Bank, N.A., dated June 16, 2014, filed as Exhibit 4.1 to AMD’s Current Report on Form 8-K dated June 16, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
||
|
4.7
|
|
|
First Supplemental Indenture by and among Advanced Micro Devices, Inc. and Wells Fargo Bank N.A., dated June 20, 2014, filed as Exhibit 4.1 to AMD’s Current Report on Form 8-K dated June 23, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
||
|
4.8
|
|
|
Amendment to Indenture governing 6.75% Senior Notes due 2019, between Advanced Micro Devices, Inc. and Wells Fargo Bank, N.A., dated June 16, 2014, filed as Exhibit 4.1 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
4.9
|
|
|
Indenture by and among Advanced Micro Devices, Inc. and Wells Fargo Bank N.A., dated September 14, 2016, filed as Exhibit 4.1 to AMD's Current Report on Form 8-K dated September 14, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
4.10
|
|
|
First Supplemental Indenture governing 2.125% Convertible Senior Notes due 2026, including Form of 2.125% Note, between Advanced Micro Devices, Inc. and Wells Fargo Bank, N.A. dated September 14, 2016, filed as Exhibit 4.2 to AMD's Current Report on Form 8-K dated September 14, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
4.11
|
|
|
First Supplemental Indenture by and among Advanced Micro Devices, Inc. and Wells Fargo Bank N.A., dated September 23, 2016, filed as Exhibit 4.1 to AMD's Quarterly Report on Form 10-Q for the fiscal quarter ended September 24, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.1
|
|
|
1996 Stock Incentive Plan, as amended, filed as Exhibit 10.58 to AMD’s Quarterly Report on Form 10-Q for the period ended June 29, 2003, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.2
|
|
|
1998 Stock Incentive Plan, as amended, filed as Exhibit 10.32 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 29, 2003, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.3
|
|
|
2000 Stock Incentive Plan, as amended, filed as Exhibit 10.12 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 29, 2003, is hereby incorporated by reference
|
|
|
|
|
|
|
*10.4
|
|
|
2004 Equity Incentive Plan, as amended and restated, filed as Exhibit 10.1 to AMD’s Registration Statement on Form S-8 filed with the SEC on May 15, 2014, is hereby incorporated by reference
|
|
|
|
||
|
*10.5
|
|
|
2011 Executive Incentive Plan, filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the period ended April 2, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.6
|
|
|
1995 Stock Plan of NexGen, Inc., as amended, filed as Exhibit 10.37 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 1996, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.7
|
|
|
ATI Technologies Inc. Share Option Plan, as amended effective January 25, 2005, filed as Exhibit 99.3 to AMD’s Registration Statement on Form S-8 filed with the SEC on October 30, 2006, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.8
|
|
|
SeaMicro, Inc. Amended and Restated 2007 Equity Incentive Plan, filed as Exhibit 10.1 on AMD’s Registration Statement on Form S-8, filed with the SEC on March 23, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.9
|
|
|
AMD’s U.S. Stock Option Program for Options Granted after April 25, 2000, filed as Exhibit 10.14 to AMD’s Annual Report on Form 10-K for the fiscal year ended December 31, 2000, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.10
|
|
|
AMD’s Stock Option Program for Employees Outside the U.S. for Options Granted after April 25, 2000, filed as Exhibit 10.24 to AMD’s Annual Report on Form 10-K for the fiscal year ended December 31, 2000, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.11
|
|
|
AMD’s U.S. Stock Option Program for Options Granted after April 24, 2001, filed as Exhibit 10.23(a) to AMD’s Annual Report on Form 10-K for the fiscal year ended December 30, 2001, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.12
|
|
|
Form of Stock Option Agreement (U.S.) under the 2004 Equity Incentive Plan, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q for the period ended June 27, 2009, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.13
|
|
|
Form of Stock Option Agreement (Non-U.S.) under the 2004 Equity Incentive Plan, filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the period ended June 27, 2009, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.14
|
|
|
Form of Stock Option Agreement (U.S. Senior Vice Presidents and Above) under the 2004 Equity Incentive Plan, filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the period ended June 26, 2010, is hereby incorporated by reference.
|
|
|
|
|
|
*10.15
|
|
|
Form of Stock Option Agreement (Non-U.S. Senior Vice Presidents and Above) under the 2004 Equity Incentive Plan, filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the period ended June 26, 2010, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.16
|
|
|
Form of Restricted Stock Unit Agreement (U.S.) under the 2004 Equity Incentive Plan, filed as Exhibit 10.4 to AMD’s Quarterly Report on Form 10-Q for the period ended October 1, 2006, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.17
|
|
|
Form of Restricted Stock Unit Agreement (Non-U.S.) under the 2004 Equity Incentive Plan, filed as Exhibit 10.3 to AMD’s Quarterly Report on Form 10-Q for the period ended June 27, 2009, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.18
|
|
|
Form of Restricted Stock Unit Agreement (U.S. Senior Vice Presidents and Above) under the 2004 Equity Plan, filed as Exhibit 10.4 to AMD’s Quarterly Report on Form 10-Q for the period ended June 26, 2010, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.19
|
|
|
Form of Restricted Stock Unit Agreement (Non-U.S. Senior Vice Presidents and Above) under the 2004 Equity Plan, filed as Exhibit 10.4 to AMD’s Quarterly Report on Form 10-Q for the period ended June 26, 2010, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.20
|
|
|
Form of Performance-Based Restricted Stock Unit Agreement (U.S. Senior Vice Presidents and Above) under the 2004 Equity Incentive Plan, filed as Exhibit 10.4 to AMD’s Quarterly Report on Form 10-Q for the period ended June 26, 2010, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.21
|
|
|
Outside Director Equity Compensation Policy, amended and restated as of May 8, 2014, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 28, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.22
|
|
|
AMD Executive Severance Plan and Summary Plan Description for Senior Vice Presidents, effective June 1, 2013, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated June 7, 2013, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.23
|
|
|
Guidelines for Business Aircraft Usage And Commercial Travel By Personal Guests, revised as of May 16, 2013, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q for the period ended June 29, 2013, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.24
|
|
|
AMD Deferred Income Account Plan, as amended and restated, effective January 1, 2008, filed as Exhibit 10.18 to AMD’s Annual Report on Form 10-K for the fiscal year ended December 29, 2007, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.25
|
|
|
Amendment No. 1 to the AMD Deferred Income Account Plan, as amended and restated, effective July 1, 2012, filed as Exhibit 10.16(a) to AMD’s Annual Report on Form 10-K for the period ended December 29, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.26
|
|
|
Form of Indemnity Agreement, between Advanced Micro Devices, Inc. and its officers and directors, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated October 6, 2008, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.27
|
|
|
Form of Management Continuity Agreement, as amended and restated, filed as Exhibit 10.13(b) to AMD’s Annual Report on Form 10-K for the fiscal year ended December 29, 2007, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.28
|
|
|
Form of Change in Control Agreement, filed as Exhibit 10.11 to AMD’s Annual Report on Form 10-K for the fiscal year ended December 26, 2009, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.29
|
|
|
Amended and Restated Management Continuity Agreement, between Advanced Micro Devices, Inc. and Devinder Kumar, filed as Exhibit 10.3 to AMD’s Quarterly Report on Form 10-Q for the period ended September 29, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.30
|
|
|
Executive Resignation Agreement and General Release, between Advanced Micro Devices, Inc., its subsidiaries, joint ventures or other affiliates and Emilio Ghilardi, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K/A dated April 30, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.31
|
|
|
Employment Agreement, between Rory P. Read and Advanced Micro Devices, Inc., effective August 25, 2011, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated August 25, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
*10.32
|
|
|
Relocation Expenses Agreement, between Advanced Micro Devices, Inc. and Rory P. Read, dated September 8, 2011, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q for the period ended October 1, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.33
|
|
|
Sign-On Restricted Stock Unit Grant Notice, between Advanced Micro Devices, Inc. and Rory P. Read, dated August 25, 2011, filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the period ended October 1, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.34
|
|
|
Sign-On Performance Restricted Stock Unit Grant Notice, between Advanced Micro Devices, Inc. and Rory P. Read, dated August 25, 2011, filed as Exhibit 10.3 to AMD’s Quarterly Report on Form 10-Q for the period ended October 1, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.35
|
|
|
Special Sign-On Restricted Stock Unit Grant Notice, between Advanced Micro Devices, Inc. and Rory P. Read, dated August 25, 2011, filed as Exhibit 10.4 to AMD’s Quarterly Report on Form 10-Q for the period ended October 1, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.36
|
|
|
Sign-On Stock Option Grant Notice, between Advanced Micro Devices, Inc. and Rory P. Read, dated August 25, 2011, filed as Exhibit 10.5 to AMD’s Quarterly Report on Form 10-Q for the period ended October 1, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.37
|
|
|
Sign-On Performance Stock Option Grant Notice, between Advanced Micro Devices, Inc. and Rory P. Read, dated August 25, 2011 filed, as Exhibit 10.6 to AMD’s Quarterly Report on Form 10-Q for the period ended October 1, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.38
|
|
|
Sign-On Bonus Agreement, between Advanced Micro Devices, Inc. and Mark D. Papermaster, dated October 7, 2011, filed as Exhibit 10.62 to AMD’s Annual Report on Form 10-K for the period ended December 31, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.39
|
|
|
Offer Letter, between Advanced Micro Devices, Inc. and Mark D. Papermaster, dated October 7, 2011, filed as Exhibit 10.63 to AMD’s Annual Report on Form 10-K for the period ended December 31, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.40
|
|
|
Sign-On Bonus Agreement, between Advanced Micro Devices, Inc. and Dr. Lisa Su, dated December 14, 2011, filed as Exhibit 10.64 to AMD’s Annual Report on Form 10-K for the period ended December 31, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.41
|
|
|
Offer Letter, between Advanced Micro Devices, Inc. and Dr. Lisa Su, dated December 14, 2011, filed as Exhibit 10.65 to AMD’s Annual Report on Form 10-K for the period ended December 31, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.42
|
|
|
Summary of Terms for John Byrne, Senior Vice President, Chief Sales Officer, dated August 6, 2012, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q for the period ended September 29, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.43
|
|
|
Special Retention Bonus Award to John Byrne, dated October 25, 2011, filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the period ended September 29, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.44
|
|
|
Stock Purchase Agreement, between West Coast Hitech L.P. and Advanced Micro Devices, Inc., dated as of November 15, 2007, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated November 15, 2007, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.45
|
|
|
Master Transaction Agreement, among Advanced Micro Devices, Inc., Advanced Technology Investment Company LLC and West Coast Hitech L.P., dated October 6, 2008, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated October 16, 2008, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.46
|
|
|
Amendment to Master Transaction Agreement, among Advanced Micro Devices, Inc., Advanced Technology Investment Company LLC and West Coast Hitech L.P., dated December 5, 2008, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated December 5, 2008, is hereby incorporated by reference.
|
|
|
|
|
|
|
**10.47
|
|
|
Wafer Supply Agreement, among Advanced Micro Devices, Inc., The Foundry Company and AMD Fab Technologies US, Inc., dated March 2, 2009, filed as Exhibit 10.5 to AMD’s Current Report on Form 8-K dated March 5, 2009, is hereby incorporated by reference.
|
|
|
|
|
|
**10.48
|
|
|
Wafer Supply Agreement Amendment No. 1, among Advanced Micro Devices, Inc., GLOBALFOUNDRIES Inc., GLOBALFOUNDRIES U.S. Inc. and GLOBALFOUNDRIES Singapore. Pte. Ltd., dated March 29, 2011, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q/A for the period ended April 2, 2011, is hereby incorporated by reference.
|
|
|
|
|
|
|
**10.49
|
|
|
Wafer Supply Agreement Amendment No. 2, among Advanced Micro Devices, Inc., GLOBALFOUNDRIES Inc., GLOBALFOUNDRIES U.S. Inc., Advanced Technology Investment Company LLC and ATIC International Investment Company LLC, dated March 4, 2012, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q for the period ended March 31, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
|
**10.50
|
|
|
Wafer Supply Agreement Amendment No. 3, among Advanced Micro Devices, Inc., GlOBALFOUNDRIES Inc. and GLOBALFOUNDRIES U.S. Inc., dated December 6, 2012, filed as Exhibit 10.34(c) to AMD’s Annual Report on Form 10-K for the period ended December 29, 2012, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.51
|
|
|
Settlement Agreement, between Advanced Micro Devices, Inc. and Intel Corporation, dated November 17, 2009, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated November 17, 2009, is hereby incorporated by reference.
|
|
|
|
|
|
|
**10.52
|
|
|
Patent Cross License Agreement, between Advanced Micro Devices, Inc. and Intel Corporation filed, dated November 11, 2009, as Exhibit 10.2 to AMD’s Current Report on Form 8-K dated November 17, 2009, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.53
|
|
|
Loan and Security Agreement, among Advanced Micro Devices, Inc., AMD International Sales & Service, Ltd., the financial institutions party thereto from time to time as lenders and Bank of America, N.A., dated November 12, 2013, filed as Exhibit 1.01 to AMD’s Current Report on Form 8-K dated November 12, 2013, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.54
|
|
|
Lease Agreement, between AMD and Delaware Chip LLC, dated December 22, 1998, filed as Exhibit 10.27 to AMD’s Annual Report on Form 10-K for the fiscal year ended December 27, 1998, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.55
|
|
|
Agreement of Purchase and Sale, between Advanced Micro Devices, Inc. and 7171 Southwest Parkway Holdings, LP, effective March 11, 2013, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q for the period ended March 30, 2013, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.56
|
|
|
Sublease Agreement, between Lantana HP, LTD and Advanced Micro Devices, Inc., dated March 26, 2013, filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the period ended March 30, 2013, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.57
|
|
|
Master Landlord’s Consent to Sublease, between 7171 Southwest Parkway Holdings, L.P., Lantana HP, Ltd. and Advanced Micro Devices, Inc., dated March 26, 2013, filed as Exhibit 10.3 to AMD’s Quarterly Report on Form 10-Q for the period ended March 30, 2013, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.58
|
|
|
Lease Agreement, between 7171 Southwest Parkway Holdings, L.P. and Lantana HP, Ltd., dated March 26, 2013, filed as Exhibit 10.4 to AMD’s Quarterly Report on Form 10-Q for the period ended March 30, 2013, is hereby incorporated by reference.
|
|
|
|
|
|
|
**10.59
|
|
|
Wafer Supply Agreement Amendment No. 4, among Advanced Micro Devices, Inc., GLOBALFOUNDRIES Inc. and GLOBALFOUNDRIES U.S. Inc., dated March 30, 2014, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q/A for the fiscal quarter ended March 29, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.60
|
|
|
Transition, Separation Agreement and Release by and between Rory P. Read and Advanced Micro Devices, Inc. effective October 8, 2014, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K/A dated October 14, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.61
|
|
|
Employment Agreement by and between Lisa T. Su and Advanced Micro Devices, Inc. effective October 8, 2014, filed as Exhibit 10.2 to AMD’s Current Report on Form 8-K/A dated October 14, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.62
|
|
|
Form of Stock Option Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 4.1 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
*10.63
|
|
|
Form of Restricted Stock Unit Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 4.1 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.64
|
|
|
Form of Performance-Based Restricted Stock Unit Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 4.1 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.65
|
|
|
First Amendment to Loan and Security Agreement, dated as of December 11, 2014, by and among Advanced Micro Devices, Inc., AMD International Sales & Service, Ltd., the financial institutions party thereto as lenders and Bank of America, N.A., filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated December 17, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.66
|
|
|
Offer Letter, between Advanced Micro Devices, Inc. and Forrest E. Norrod, dated October 20, 2014, filed as Exhibit 10.66 to AMD’s Annual Report on Form 10-K for the fiscal year ended December 27, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.67
|
|
|
Sign-On Bonus Agreement, between Advanced Micro Devices, Inc. and Forrest E. Norrod, dated October 20, 2014 to AMD’s Annual Report on Form 10-K for the fiscal year ended December 27, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.68
|
|
|
Advanced Micro Devices, Inc. Executive Severance Plan and Summary Plan Description for Senior Vice Presidents effective December 31, 2014, filed as Exhibit 10.68 to AMD’s Annual Report on Form 10-K for the fiscal year ended December 27, 2014, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.69
|
|
|
Amended and Restated Loan and Security Agreement dated as of April 14, 2015, among Advanced Micro Devices, Inc., AMD International Sales & Service, Ltd., ATI Technologies ULC, and Bank of America, N.A., filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated April 15, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.70
|
|
|
First Amendment to Amended and Restated Loan and Security Agreement dated as of June 10, 2015, among Advanced Micro Devices, Inc., AMD International Sales & Service, Ltd., ATI Technologies ULC, and Bank of America, N.A., filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 27, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.71
|
|
|
Offer Letter between Advanced Micro Devices, Inc. and Jim R. Anderson, dated April 17, 2015, filed as Exhibit 10.3 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 27, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.72
|
|
|
Sign-on Bonus Letter between Advanced Micro Devices, Inc. and Jim R. Anderson, dated May 27, 2015, filed as Exhibit 10.4 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 27, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.73
|
|
|
Form of Stock Option Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 26, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.74
|
|
|
Form of Restricted Stock Unit Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 10.2 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 26, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.75
|
|
|
Form of Performance-Based Restricted Stock Unit Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 10.3 to AMD’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 26, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.76
|
|
|
Equity Interest Purchase Agreement by and between Advanced Micro Devices, Inc. and Nantong Fujitsu Microelectronics Co., Ltd. dated as of October 15, 2015, filed as Exhibit 10.1 to AMD’s Current Report on Form 8-K dated October 15, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
**10.77
|
|
|
Wafer Supply Agreement Amendment No. 5, among Advanced Micro Devices, Inc., GLOBALFOUNDRIES Inc. and GLOBALFOUNDRIES U.S. Inc., dated as of April 16, 2015, filed as Exhibit 10.1 to AMD’s Quarterly Report on Form 10-Q/A for the fiscal quarter ended June 27, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
*10.78
|
|
|
Form of Stock Option Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 10.78 to AMD's Annual Report on Form 10-K for the fiscal year ended December 26, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.79
|
|
|
Form of Restricted Stock Unit Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 10.79 to AMD's Annual Report on Form 10-K for the fiscal year ended December 26, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.80
|
|
|
Form of Performance-Based Restricted Stock Unit Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan, filed as Exhibit 10.80 to AMD's Annual Report on Form 10-K for the fiscal year ended December 26, 2015, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.81
|
|
|
Second Amendment to Amended and Restated Loan and Security Agreement, dated as of April 29, 2016, among Advanced Micro Devices, Inc., AMD International Sales & Service, Ltd., ATI Technologies ULC, and Bank of America, N.A., filed as Exhibit 10.1 to AMD's Quarterly Report on Form 10-Q for the fiscal quarter ended June 25, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.82
|
|
|
Third Amendment to Amended and Restated Loan and Security Agreement, dated as of June 21, 2016, among Advanced Micro Devices, Inc., AMD International Sales & Service, Ltd., ATI Technologies ULC, and Bank of America, N.A., filed as Exhibit 10.2 to AMD's Quarterly Report on Form 10-Q for the fiscal quarter ended June 25, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.83
|
|
|
Warrant to Purchase Shares of Common Stock, dated August 30, 2016, between Advanced Micro Devices, Inc. and West Coast Hitech L.P., filed as Exhibit 10.1 to AMD's Current Report on Form 8-K dated August 31, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.84
|
|
|
First Amended and Restated Registration Rights Agreement, dated as of August 30, 2016, between Advanced Micro Devices, Inc. and West Coast Hitech L.P., filed as Exhibit 10.1 to AMD's Quarterly Report on Form 10-Q for the fiscal quarter ended September 24, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.85
|
|
|
Fourth Amendment to Amended and Restated Loan and Security Agreement, dated as of September 7, 2016, among Advanced Micro Devices, Inc., AMD International Sales & Service, Ltd., ATI Technologies ULC, and Bank of America, N.A., filed as Exhibit 10.2 to AMD's Quarterly Report on Form 10-Q for the fiscal quarter ended September 24, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
**10.86
|
|
|
Wafer Supply Agreement Amendment No. 6, among Advanced Micro Devices, Inc., GLOBALFOUNDRIES, Inc. and GLOBALFOUNDRIES U.S., Inc., dated August 30, 2016, filed as Exhibit 10.3 to AMD's Quarterly Report on Form 10-Q for the fiscal quarter ended September 24, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
10.87
|
|
|
Amendment to Master Transaction Agreement dated as of August 30, 2016 among Advanced Micro Devices, Inc., Advanced Technology Investment Company LLC and West Coast Hitech L.P., filed as Exhibit 10.4 to AMD's Quarterly Report on Form 10-Q for the fiscal quarter ended September 24, 2016, is hereby incorporated by reference.
|
|
|
|
|
|
|
*10.88
|
|
|
Form of Stock Option Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan.
|
|
|
|
|
|
|
*10.89
|
|
|
Form of Restricted Stock Unit Agreement for Senior Vice Presidents and Above under the 2004 Equity Plan.
|
|
|
|
|
|
|
*10.90
|
|
|
Form of Performance-Based Restricted Stock Unit Agreement for Senior Vice Presidents and Above under the 2004 Equity Incentive Plan.
|
|
|
|
|
|
|
21
|
|
|
List of AMD subsidiaries.
|
|
|
|
|
|
|
23
|
|
|
Consent of Ernst & Young LLP, independent registered public accounting firm for Advanced Micro Devices, Inc.
|
|
|
|
|
|
|
24
|
|
|
Power of Attorney.
|
|
|
|
|
|
|
31.1
|
|
|
Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
|
|
31.2
|
|
|
Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
|
32.1
|
|
|
Certification of the Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
|
|
32.2
|
|
|
Certification of the Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
|
|
101.INS
|
|
|
XBRL Instance Document
|
|
|
|
|
|
|
101.SCH
|
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
|
|
101.CAL
|
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
|
|
101.DEF
|
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
|
|
101.LAB
|
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
|
|
|
101.PRE
|
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
February 21, 2017
|
A
DVANCED
M
ICRO
D
EVICES
, I
NC
.
|
|
|
|
|
|
By:
|
/s/Devinder Kumar
|
|
|
Devinder Kumar
|
|
|
Senior Vice President, Chief Financial Officer, and Treasurer
|
Signature
|
|
Title
|
|
Date
|
|
|
|
||
/s/Lisa T. Su
|
|
President and Chief Executive Officer
(Principal Executive Officer), Director
|
|
February 21, 2017
|
Lisa T. Su
|
|
|
||
|
|
|
||
/s/Devinder Kumar
|
|
Senior Vice President, Chief Financial Officer and Treasurer
(Principal Financial Officer)
|
|
February 21, 2017
|
Devinder Kumar
|
|
|
||
|
|
|
||
/s/Darla Smith
|
|
Corporate Vice President, Chief Accounting Officer (Principal Accounting Officer)
|
|
February 21, 2017
|
Darla Smith
|
|
|
||
|
|
|
|
|
*
|
|
Director, Chairman of the Board
|
|
February 21, 2017
|
John E. Caldwell
|
|
|
||
|
|
|
||
*
|
|
Director
|
|
February 21, 2017
|
Bruce L. Claflin
|
|
|
||
|
|
|
||
*
|
|
Director
|
|
February 21, 2017
|
Nora Denzel
|
|
|
||
|
|
|
||
*
|
|
Director
|
|
February 21, 2017
|
Nicolas M. Donofrio
|
|
|
||
|
|
|
||
*
|
|
Director
|
|
February 21, 2017
|
Michael Inglis
|
|
|
||
|
|
|
|
|
*
|
|
Director
|
|
February 21, 2017
|
Joseph Householder
|
|
|
||
|
|
|
|
|
*
|
|
Director
|
|
February 21, 2017
|
John W. Marren
|
|
|
||
|
|
|
||
*
|
|
Director
|
|
February 21, 2017
|
Ahmed Yahia
|
|
|
||
|
|
|
|
|
*By:
|
/s/ DEVINDER KUMAR
|
|
Devinder Kumar, Attorney-in-Fact
|
1 Year Advanced Micro Devices Chart |
1 Month Advanced Micro Devices Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions