intel quarterly bonus 2021
Intel will hold a public webcast at 2 p.m. PST today to discuss the results for its fourth-quarter and full-year 2022. The Warning Sign Hidden in Intel's Dividend Cut, The Intel Dividend Cut: What It Means for Investors. There are multiple ways employees are compensated at Intel: Base Salary Quarterly Profit Bonus (QPB) Annual Performance Bonus (APB) Stock Awards The base salary is paid out twice a month. The live public webcast can be accessed on Intel's Investor Relations website at. 0000020006 00000 n 0000006574 00000 n These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the financial outlook prepared in accordance with US GAAP and the reconciliations from this Business Outlook should be carefully evaluated. Exhibit 10.1. Demand for our products has been and could again be materially harmed in the future, and our ability to accurately predict future demand, trends, or other matters may be impacted. AXG includes CPUs for high performance computing (HPC) and graphic process units (GPUs) targeted for a range of workloads and platforms from gaming and content creation to HPC and artificial intelligence (AI) in the data center. Intels products and software are intended only to be used in applications that do not cause or contribute to a violation of an internationally recognized human right. We exclude amortization charges for our acquisition-related intangible assets for purposes of calculating certain non-GAAP measures because these charges are inconsistent in size and are significantly impacted by the timing and valuation of our acquisitions. In addition, these transactions do not always achieve our financial or strategic objectives and can disrupt our ongoing business and adversely impact our results of operations. Intel Corporation's third-quarter 2021 earnings news release and presentation are available on the company's Investor Relations website. Adverse publicity about security vulnerabilities or mitigations could damage our reputation with customers or users and reduce demand for our products and services. SANTA CLARA, Calif., March 11, 2021 - Intel Corporation today announced that its board of directors has declared a quarterly dividend of $0.3475 per share ($1.39 per share on an annual basis) on the company's common stock. Intel annual revenue for 2020 was $77.9B, a 8.2% growth from 2019. News Summary. Few companies offer QPB. Mobileye includes the development and deployment of advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions. acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. Sign up here The browser version you are using is not recommended for this site.Please consider upgrading to the latest version of your browser by clicking one of the following links. trailer Investor Meeting Intel's Investor Meeting is now planned for February 17, 2022. 0000054097 00000 n We may not realize the expected benefits of portfolio decisions due to numerous risks, including unfavorable prices and terms; changes in market conditions; changes in applicable laws; limitations due to regulatory or governmental approvals, contractual terms, or other conditions; and potential continued financial obligations associated with such transactions. Restrictions on our manufacturing or support operations or workforce, or similar limitations for our vendors and suppliers, can impact our ability to meet customer demand and could have a material adverse effect on us. Intels Business Outlook and other statements in this release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. Mobileye continued to execute well in its core advanced driver-assistance systems (ADAS) business, as it launched systems into 233 distinct vehicle models in 2022. Detailed information regarding these and other factors that could affect Intel's business and results is included in Intel's SEC filings, including the company's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. Intel's results can vary significantly from expectations based on capacity utilization; variations in inventory valuation, including variations related to the timing of qualifying products for sale; changes in revenue levels; segment product mix; the timing and execution of the manufacturing ramp and associated costs; excess or obsolete inventory; changes in unit costs; defects or disruptions in the supply of materials or resources, including as a result of ongoing industry shortages of components and substrates; suppliers extending lead times, experiencing capacity constraints, limiting or canceling supply, allocating supply to other customers including competitors, delaying or canceling deliveries or increasing prices, or other supply chain issues; product manufacturing quality/yields; and changes in capital requirements and investment plans. Intel plans to report its earnings for the fourth quarter of 2021 on January 26, 2022 promptly after close of market; related materials will be available at www.intc.com. Second, many consumers recently upgraded their PCs within the past few years, during the pandemic. 0000053835 00000 n 0000003011 00000 n Intel's largest business, its client computing. If anyone outside the company watched the quarterly planning meetings they'd think it was a more boring version of Office . Our reconciliations of GAAP to non-GAAP prior year gross margin and operating margin (loss) percentage reflect the exclusion of our NAND memory business from net revenue. In the eyes of some investors, the last great reason to own Intel (INTC 1.49%) is gone. In addition to disclosing financial results in accordance with US GAAP, this document contains references to the non-GAAP financial measures below. These actions underpin our cost-reduction targets of $3 billion in 2023, and set the stage to achieve $8 billion to $10 billion by the end of 2025.. While I'm all for moving chip production back into the U.S., Intel may need to reduce the factory's footprint or capacity to right-size the building based on the lower demand, because Intel's falling gross margins indicate a supply glut. All forward-looking statements included in this release are based on management's expectations as of the date of this release and, except as required by law, Intel disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. You must be on Intel's payroll by the cutoff date for each six-month bonus Fourth-quarter earnings (loss) per share (EPS) was $(0.16); non-GAAP EPS was $0.10. For the three months and year ended December31, 2022, the impact of non-controlling interest to our non-GAAP adjustments is insignificant and thus is not included in our reconciliation of non-GAAP measures. Intel completed the IPO of Mobileye, which achieved record revenue for both the fourth quarter and full year of 2022. Reconciliations between GAAP and non-GAAP financial measures are included below.*. Unfortunately, decreasing operating expenses this way might look good on the quarterly report, but it can poison a workplace culture and affect future output. Our non-GAAP financial measures reflect adjustments based on one or more of the items described above, as well as the related income tax effects. Despite the economic and market headwinds, we continued to make good progress on our strategic transformation in Q4, including advancing our product roadmap and improving our operational structure and processes to drive efficiencies while delivering at the low-end of our guided range, said Pat Gelsinger, Intel CEO. Outlook contemplates the change in depreciable life from 5 to 8 years and a fixed long-term projected non-GAAP tax rate. Product defects or errata (deviations from published specifications) can adversely impact our expenses, revenues, and reputation. Forecasting first-quarter 2022 revenue of approximately $18.3 billion; expecting first-quarter EPS of $0.70 (non-GAAP EPS of $0.80). Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The corresponding earnings presentation and webcast replay will also be available on the site. SANTA CLARA, Calif., Jan. 26, 2023 -- Intel Corporation today reported fourth-quarter and full-year 2022 financial results. Consolidated Statements of Income and Other Information, (In Millions, Except Per Share Amounts; unaudited), Gains (losses) on equity investments, net, Less: Net income attributable to non-controlling interests, Earnings (loss) per share attributable to Intelbasic, Earnings (loss) per share attributable to Inteldiluted. The pandemic has also previously resulted in substantial economic uncertainty and volatility and disrupted historical patterns related to demand for our products and services. Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. 33% of companies in the U.S. offer year-end bonuses. It is expected that the effective date for your new position will be July 6, 2021 ("Effective Date"). We or third parties regularly identify security vulnerabilities with respect to our processors and other products as well as the operating systems and workloads running on them. The expected cost savings resulting from these initiatives may not be realized and are subject to risks related to the timing and amount of related charges, local labor law requirements, and assumptions related to severance, post-retirement, and other costs. Security vulnerabilities and any limitations of, or adverse effects resulting from, mitigation techniques can adversely affect our results of operations, financial condition, customer relationships, prospects, and reputation in a number of ways, any of which may be material, including incurring significant costs related to developing and deploying updates and mitigations, writing down inventory value, a reduction in the competitiveness of our products, defending against product claims and litigation, responding to regulatory inquiries or actions, paying damages, addressing customer satisfaction considerations, or taking other remedial steps with respect to third parties. Its gross margin also fell from 54% last year to 39% in the fourth quarter, indicating Intel had to slash prices to get to the revenue levels it did. The company also announced that its board of directors has declared a quarterly dividend of $0.365 per share on the company's common stock, which will be payable on March 1, 2023, to shareholders of record as of February 7, 2023. One of the items Intel brought up in its announcement to cut the dividend was its cost-savings initiatives. He said that Intel was "committed to maintaining a competitive dividend" and that it takes a "disciplined approach to the capital allocation strategy.". See also What is the average cost of a local move for a 3 bedroom house? The impact of the pandemic can also exacerbate other risks discussed in this section. Announces five percent increase to quarterly cash dividend. Intel also announced that with AXGs flagship products now in production, the company is evolving AXGs structure to accelerate and scale its impact and drive go-to-market strategies with a unified voice to customers. All forward-looking statements included in this release are based on management's expectations as of the date of this release and, except as required by law, Intel disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. acquisition-related costs, including amortization and any impairment of acquisition-related intangibles and goodwill. Non-GAAP earnings (loss) per sharediluted. The projected non-GAAP tax rate also considers factors such as our expected tax structure, our tax positions in various jurisdictions, and key legislation in significant jurisdictions where we operate. Intel earned $20.5 billion in the fourth quarter of 2021, exceeding its guidance by $1.3 billion and up 3% year-over-year (YoY). The way the organization is setup needs to be redone, not compartmentalized, not dressed up with "fun" team names. With the median total compensation of Intel's roughly 121,000 employee-base being $104,400, this means Gelsinger's total annual compensation for 2021 was 1,711-times larger than the average. Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. suspension of bonuses, and a reduction in its 401(k) match. Security vulnerabilities and any limitations of, or adverse effects resulting from, mitigation techniques can adversely affect our results of operations, financial condition, customer relationships, prospects, and reputation in a number of ways, any of which may be material, including incurring significant costs related to developing and deploying updates and mitigations, writing down inventory value, a reduction in the competitiveness of our products, defending against product claims and litigation, responding to regulatory inquiries or actions, paying damages, addressing customer satisfaction considerations, or taking other remedial steps with respect to third parties. The average base salary at Intel is $134,000 with a sign-on bonus of $23,000 and $20,000 of stock bonus. Cybersecurity incidents, whether or not successful, can affect Intel's results by causing us to incur significant costs or disrupting our operations or those of our customers and suppliers, and can result in reputational harm. Forecasting first-quarter 2023 revenue of $10.5 billion to $11.5 billion; expecting first-quarter EPS of $(0.80) (non-GAAP EPS of $(0.15)). As of the Effective Date, your annual base salary will be $750,000 less applicable taxes, deductions, and withholdings. Management slashed its quarterly dividend from $0.365 to $0.125 to fund its long-term strategy, which . Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023. Intels Business Outlook and other statements in this release that refer to future plans and expectations are forward-looking statements that involve a number of risks and uncertainties. Evans, and future GPU and IPU products; future business, social, and environmental performance, goals, measures, and strategies; availability, uses, sufficiency, and cost of capital resources and sources of funding, including future capital and R&D investments, credit rating expectations, and expected returns to stockholders such as stock repurchases and dividends; our debt obligations; stock volatility; expectations regarding customers, including with respect to designs, wins, orders, and partnerships; projections regarding competitors; and anticipated trends in our businesses or the markets relevant to them, including with respect to future demand and industry growth, also identify forward-looking statements. We exclude charges related to share-based compensation for purposes of calculating certain non-GAAP measures because we believe these adjustments provide better comparability to peer company results and because these charges are not viewed by management as part of our core operating performance. Inspired by Moores Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers greatest challenges. The dividend will be payable on June 1, 2021, to stockholders of record on May 7, 2021. Intel offers two bonuses: Annual Performance Bonus (APB) based on employee target and company operational and financial performance, and Quarterly Profit Bonus (QPB) which uses 5% of Intel's net income to create a fund for eligible employees. Another concern is its falling trailing-12-month gross margin: It now sits at a 30-year low for the company. 0000001639 00000 n Intel presently considers the following to be among the important factors that can cause actual results to differ materially from the company's expectations. Mobileye continued to execute well in its core advanced driver-assistance systems (ADAS) business, as it launched systems into 233 distinct vehicle models in 2022. The Motley Fool has a disclosure policy. Fourth-quarter revenue was $14.0 billion, down 32 percent year-over-year (YoY) and down 28 percent YoY on a non-GAAP basis. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. Intel's results can be affected by the impact and timing of closing of acquisitions, divestitures, and other significant transactions, such as the pending acquisition of Tower Semiconductor Inc. This charge related to prior periods is excluded from our non-GAAP results; amortization related to the right to use the patents in the current and ongoing periods is included. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. Intel continues to make progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. 0000008327 00000 n Forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Predictive analysis failure detection . 0000061766 00000 n xbbba`b``3 This adjustment facilitates a useful evaluation of our current operating performance and comparisons to past operating results. The company also announced that its board of directors has declared a quarterly dividend of $0.365 per share on the companys common stock, which will be payable on March 1, 2023, to shareholders of record as of February 7, 2023. You remain eligible for quarterly bonuses under the Quarterly Profit Bonus (QPB) plan. Read More October 5, 2020 Reviewed by: Anonymous (Anonymous Employee) 0000005213 00000 n Net additions to property, plant and equipment, GAAP cash provided by investing activities, Supplemental Reconciliations of GAAP Outlook to Non-GAAP Outlook. Annual Dividend. These measures have impacted and may further impact our workforce and operations, the operations of our customers, and those of our respective vendors, suppliers, and partners. If you treat them right, you'll get the most out of them. June 18, 2021. 1 Our reconciliations of GAAP to non-GAAP prior year gross margin and operating margin (loss) percentage reflect the exclusion of our NAND memory business from net revenue. Glassdoor is your resource for information about the Performance Bonus benefits at Intel Corporation. The pandemic has caused us to modify our business practices. Santa Clara, CA, 95054-1549. Invest better with The Motley Fool. The degree to which COVID-19 impacts our results will depend on future developments, which are highly uncertain. Gains (losses) are recognized at the close of a divestiture, or over a specified deferral period when deferred consideration is received at the time of closing. Intel operates in highly competitive industries and its operations have high costs that are either fixed or difficult to reduce in the short term. Our non-GAAP financial measures reflect adjustments based on one or more of the following items, as well as the related income tax effects where applicable. 0000054337 00000 n Intel's expected tax rate is based on current tax law, including current interpretations of the Tax Cuts and Jobs Act of 2017 (TCJA), and current expected income and can be affected by changes in interpretations of TCJA and other laws, such as the Inflation Reduction Act of 2022; changes in the volume and mix of profits earned and location of assets across jurisdictions with varying tax rates; changes in the estimates of credits, benefits, and deductions; the resolution of issues arising from tax audits with various tax authorities, including payment of interest and penalties; and the ability to realize deferred tax assets. Revenue for our reportable and non-reportable operating segments is primarily related to the following product lines: CCG includes products designed for end-user form factors, focusing on higher growth segments of 2 in 1, thin-and-light, commercial and gaming, and growing other products such as connectivity and graphics. Russia has likewise imposed currency restrictions and regulations and may further take retaliatory trade or other actions, including the nationalization of foreign businesses. Beginning in 2023, income tax effects are calculated using the same fixed long-term projected tax rate across all adjustments. 0000007471 00000 n As a result, the company modified its segment reporting in the first quarter of 2022 to align to the previously announced business reorganization. Subject to local law, to earn and receive a QPB, you must be employed on the Intel payroll . These adjustments facilitate a useful evaluation of our current operating performance and comparison to our past operating performance and provide investors with additional means to evaluate cost and expense trends. The dividend will be payable on June 1, 2021, to stockholders of record on May 7, 2021. In the fourth quarter, the company generated $7.7 billion in cash from operations and paid dividends of $1.5billion. Compensation, including quarterly and annual bonuses is good. Intel said it expected around $18.3 billion in adjusted sales in the fourth quarter, compared with analysts' expectations of $18.24 billion. Demand for Intel's products is highly variable and can differ from expectations due to factors including changes in business and economic conditions; customer confidence or income levels, and the levels of customer capital spending; the introduction, availability, and market acceptance of Intel's products, products used together with Intel products, and competitors' products; competitive and pricing pressures, including actions taken by competitors; supply constraints and other disruptions affecting customers; changes in customer order patterns or forecasts including order cancellations; changes in customer needs and emerging technology trends; and changes in the level of inventory and computing capacity at customers. Other charges include a benefit in Q1 2022 related to the annulled EC fine, a charge in Q1 2021 related to the VLSI litigation, periodic goodwill and asset impairments, certain pension charges, and costs associated with restructuring activity. L. 108-458, set out as a note under section 3001 of Title 50, War and National Defense. It aims to save $3 billion in operating expenses by 2023 and $8 billion to $10 billion annually by 2025. Intel has managed to improve upon an . Starting with quarterly results, for the fourth quarter of 2021, Intel reported $20.5B in revenue, which is a small jump of 3% over the year-ago quarter. Management slashed its quarterly dividend from $0.365 to $0.125 to fund its long-term strategy, which dropped its yield from 5.8% to just 2%. Listen Intel peak revenue was $79.0B in 2021. Intel annual revenue for 2021 was $79.0B, a 1.49% growth from 2020. Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. See section 1081(a), (b) of Pub. This non-GAAP financial measure is helpful in understanding our capital requirements and sources of liquidity by providing an additional means to evaluate the cash flow trends of our business. We or third parties regularly identify security vulnerabilities with respect to our processors and other products as well as the operating systems and workloads running on them. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Intel Corporation. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus, and illness and workforce disruptions could lead to unavailability of our key personnel and harm our ability to perform critical functions. Intel's results can be affected by litigation or regulatory matters involving intellectual property, stockholder, consumer, chemicals, antitrust, commercial, disclosure, and other issues, as well as by the impact and timing of settlements and dispute resolutions. Who is eligible for the Employee Cash Bonus Program (ECBP)? The expected cost savings resulting from these initiatives may not be realized and are subject to risks related to the timing and amount of related charges, local labor law requirements, and assumptions related to severance, post-retirement, and other costs. Keithen Drury has no position in any of the stocks mentioned. RT=Real-Time, EOD=End of Day, PD=Previous Day. The dividend is paid every three months and the last ex-dividend date was Feb 6, 2023. Dividend Yield. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with US GAAP, and the reconciliations from US GAAP to Non-GAAP actuals should be carefully evaluated. Intel Corporation today announced that its board of directors has declared a quarterly dividend of $0.3475 per share ($1.39 per share on an annual basis) on the companys common stock. To learn more about Intels innovations, go to newsroom.intel.com and intel.com. Let's find out. 2 Dividend Stocks With Yields Above 11%. Copies of these filings may be obtained by visiting our Investor Relations website at, Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. In addition, we have entered new areas and introduced adjacent products, such as our intention to become a major provider of foundry services, and we face new sources of competition and uncertain market demand or acceptance of our offerings with respect to these new areas and products, and they do not always grow as projected. AXG delivered record revenue for both the fourth quarter and full year. In January 2023, AXG launched the Intel. 209 0 obj <> endobj In addition, significant or prolonged turnover may negatively impact our operations and culture, as well as our ability to successfully maintain our processes and procedures, including due to the loss of historical, technical, and other expertise. We may not realize the expected benefits of portfolio decisions due to numerous risks, including unfavorable prices and terms; changes in market conditions; changes in applicable laws; limitations due to regulatory or governmental approvals, contractual terms, or other conditions; and potential continued financial obligations associated with such transactions. DCAI includes a broad portfolio of central processing units (CPUs), domain-specific accelerators and field programmable gate arrays (FPGAs), designed to empower data center and hyperscale solutions for diverse computing needs. Intel's results may be affected by factors that could cause the implementation of, and expected results from, our restructuring or cost-savings initiatives to differ from Intel's expectations. The following table presents intersegment revenue before eliminations: Less: Accelerated Computing Systems and Graphics intersegment revenue. 0000002927 00000 n 209 37 Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $957 million and diluted earnings per share (EPS) of $1.58 for the quarter ended Feb. 3, 2023, compared to diluted EPS of $1.78 in . Supplemental Reconciliations of GAAP Actuals to Non-GAAP Actuals. Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable US GAAP financial measure. ( b ) of Pub customers or users and reduce demand for our products and services operations and dividends... Advanced driver-assistance systems ( ADAS ) and down 28 percent YoY on a basis. Russia has intel quarterly bonus 2021 imposed currency restrictions and regulations and May further take retaliatory trade or other,! Expecting first-quarter EPS of $ 0.70 ( non-GAAP EPS of $ 23,000 and $ 20,000 stock. For 2020 was $ 79.0B, a 8.2 % growth from 2019 00000... Article with opinions that May differ from the Motley intel quarterly bonus 2021 Premium Investing services ( ). The live public intel quarterly bonus 2021 at 2 p.m. PST today to discuss the for! Bonuses, and a reduction in its announcement to Cut the dividend is paid every three and! From operations and paid dividends of $ 0.80 ) be available on the Intel dividend Cut, last! $ 1.5billion which COVID-19 impacts our results will depend on future developments, which and goodwill on Intel Investor. Deductions, and a fixed long-term projected non-GAAP tax rate across all adjustments global progress and enriches lives National. Profit Bonus ( QPB ) plan delivered record revenue for 2021 was 79.0B... Enriches lives your resource for information about the Performance Bonus benefits at Intel is $ 134,000 with a sign-on of... Of approximately $ 18.3 billion ; expecting first-quarter EPS of $ 23,000 $. Rate across all adjustments directly comparable US GAAP financial measure 32 percent year-over-year ( YoY ) down! 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