INTEL CORPORATION 2013

Select Financial Data

Five Years Ended December 28, 2013
(Dollars in Millions, Except Per Share Amounts)

Net revenue
Gross margin
Gross margin percentage
Research and development (R&D)
Marketing, general and administrative
(MG&A)
R&D and MG&A as percentage of revenue
Operating income
Net income
Earnings per common share
Basic
Diluted

2013

2012

2011

2010

2009

$ 52,708
$ 53,341
$ 53,999
$ 43,623
$ 35,127
$ 31,521
$ 33,151
$ 33,757
$ 28,491
$ 19,561
59.8%
62.1%
62.5%
65.3%
55.7%
$ 10,611
$ 10,148
$
8,350
$
6,576
$
5,653
$

8,088

$
$

1.94
1.89

$
8,057
$
7,670
$
6,309
$
35.5%
34.1%
29.7%
29.5%
$ 12,291
$ 14,638
$ 17,477
$ 15,588
$
9,620
$
$ 11,005
$ 12,942
$ 11,464
$
$
$

2.20
2.13

$
$

2.46
2.39

$
$

2.06
2.01

$
$

7,931
38.7%
5,711
4,369
0.79
0.77

Weighted average diluted common shares

outstanding
Dividends per common share
Declared
Paid
Net cash provided by operating activities
Additions to property, plant and equipment
Repurchase of common stock
Payment of dividends to stockholders

5,097

5,160

5,411

5,696

5,645

$
0.90
$
0.90
$ 20,776
$ 10,711
2,440
$
4,479
$

$
0.87
$
0.87
$ 18,884
$ 11,027
$
5,110
$
4,350

$
0.78
$
0.78
$ 20,963
$ 10,764
$ 14,340
$
4,127

$
0.63
$
0.63
$ 16,692
$
5,207
$
1,736
$
3,503

$
0.56
$
0.56
$ 11,170
$
4,515
$
1,762
$
3,108

(Dollars in Millions)

Dec. 28, 2013

Dec. 29, 2012

Dec. 31, 2011

Dec. 25, 2010

Dec. 26, 2009

Property, plant and equipment, net

Total assets
Long-term debt
Stockholders equity
Employees (in thousands)

$
$
$
$

$
$
$
$

$ 23,627
$ 71,119
$
7,084
$ 45,911
100.1

$ 17,899
$ 63,186
$
2,077
$ 49,430
82.5

$ 17,225
$ 53,095
$
2,049
$ 41,704
79.8

31,428
92,358
13,165
58,256
107.6

27,983
84,351
13,136
51,203
105.0

During the third quarter of 2013, management approved and communicated several restructuring actions including
targeted workforce reductions as well as exit of certain businesses and facilities. For further information, see "Note
13: Restructuring and Asset Impairment Charges" in the Notes to Consolidated Financial Statements in 2013 Form
10-K filed with the SEC.
In 2011, we acquired McAfee, Inc. and the Wireless Solution business of Infineon Technologies AG, which operates
as part of our Multi-Comm and Phone Group operating segments. For further information, see Note 8: Acquisitions
in the Notes to Consolidated Financial Statements in 2013 Form 10-K filed with the SEC.

INTEL CORPORATION 2013

Consolidated Statements of Income

Three Years Ended December 28, 2013
2013

(In Millions, Except Per Share Amounts)

Net revenue
Cost of sales
Gross margin

52,708
21,187
31,521

2012

53,341
20,190
33,151

2011

53,999
20,242
33,757

Research and development

Marketing, general and administrative
Restructuring and asset impairment charges
Amortization of acquisition-related intangibles

10,611
8,088
240
291

10,148
8,057

308

8,350
7,670

260

Operating expenses

19,230

18,513

16,280

Operating income
Gains (losses) on equity investments, net
Interest and other, net

12,291
471
(151)

14,638
141
94

17,477
112
192

Income before taxes

12,611

14,873

17,781

2,991

3,868

4,839

Provision for taxes

Net income

9,620

11,005

12,942

Basic earnings per common share

1.94

2.20

2.46

Diluted earnings per common share

Weighted average common shares outstanding:
Basic
Diluted

1.89

2.13

2.39

4,970
5,097

See Notes to Consolidated Financial Statements in the 2013 Form 10-K filed with the SEC.

4,996
5,160

5,256
5,411

INTEL CORPORATION 2013

Consolidated Statements of Comprehensive Income

Three Years Ended December 28, 2013
(In Millions)

Net income
Other comprehensive income, net of tax:
Change in net unrealized holding gains (losses) on available-forsale investments
Change in net deferred tax asset valuation allowance
Change in net unrealized holding gains (losses) on derivatives
Change in net prior service costs
Change in net actuarial losses
Change in net foreign currency translation adjustment
Other comprehensive income (loss)
Total comprehensive income

2013

9,620

1,181
(26)
(89)
18
520
38
1,642
11,262

2012

11,005

470
(11)
85

(172)
10
382
11,387

See Notes to Consolidated Financial Statements in the 2013 Form 10-K filed with the SEC.

2011

12,942

(170)
(99)
(119)
4
(588)
(142)
(1,114)
11,828

INTEL CORPORATION 2013

Consolidated Balance Sheets

December 28, 2013 and December 29, 2012
(In Millions, Except Par Value)

Assets
Current assets:
Cash and cash equivalents
Short-term investments
Trading assets
Accounts receivable, net of allowance for doubtful accounts of $38 ($38 in 2012)
Inventories
Deferred tax assets
Other current assets
Total current assets
Property, plant and equipment, net
Marketable equity securities
Other long-term investments
Goodwill
Identified intangible assets, net
Other long-term assets
Total assets
Liabilities and stockholders equity
Current liabilities:
Short-term debt
Accounts payable
Accrued compensation and benefits
Accrued advertising
Deferred income
Other accrued liabilities
Total current liabilities
Long-term debt
Long-term deferred tax liabilities
Other long-term liabilities
Commitments and contingencies (Notes 18 and 26)
Stockholders equity:
Preferred stock, $0.001 par value, 50 shares authorized; none issued
Common stock, $0.001 par value, 10,000 shares authorized; 4,967 issued and
outstanding (4,944 issued and outstanding in 2012) and capital in excess of par
value
Accumulated other comprehensive income (loss)
Retained earnings
Total stockholders equity
Total liabilities and stockholders equity

2013

See Notes to Consolidated Financial Statements in the 2013 Form 10-K filed with the SEC.

2012

5,674
5,972
8,441
3,582
4,172
2,594
1,649
32,084
31,428
6,221
1,473
10,513
5,150
5,489
92,358

281
2,969
3,123
1,021
2,096
4,078
13,568

8,478
3,999
5,685
3,833
4,734
2,117
2,512
31,358
27,983
4,424
493
9,710
6,235
4,148
84,351

312
3,023
2,972
1,015
1,932
3,644
12,898

13,165
4,397
2,972

13,136
3,412
3,702

21,536
1,243
35,477
58,256
92,358

19,464
(399)
32,138
51,203
84,351

INTEL CORPORATION 2013

Consolidated Statements of Cash Flows

Three Years Ended December 28, 2013
(In Millions)

Cash and cash equivalents, beginning of year

Cash flows provided by (used for) operating activities:
Net income
Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation
Share-based compensation
Restructuring and asset impairment charges
Excess tax benefit from share-based payment arrangements
Amortization of intangibles
(Gains) losses on equity investments, net
(Gains) losses on divestitures
Deferred taxes
Changes in assets and liabilities:
Accounts receivable
Inventories
Accounts payable
Accrued compensation and benefits
Income taxes payable and receivable
Other assets and liabilities
Total adjustments
Net cash provided by operating activities
Cash flows provided by (used for) investing activities:
Additions to property, plant and equipment
Acquisitions, net of cash acquired
Purchases of available-for-sale investments
Sales of available-for-sale investments
Maturities of available-for-sale investments
Purchases of trading assets
Maturities and sales of trading assets
Collection of loans receivable
Origination of loans receivable
Investments in non-marketable equity investments
Proceeds from the sale of IM Flash Singapore, LLP assets and certain
IM Flash Technologies, LLC assets
Return of equity method investments
Purchases of licensed technology and patents
Proceeds from divestitures
Other investing
Net cash used for investing activities
Cash flows provided by (used for) financing activities:
Increase (decrease) in short-term debt, net
Proceeds from government grants
Excess tax benefit from share-based payment arrangements
Issuance of long-term debt, net of issuance costs
Repayment of debt
Proceeds from sales of shares through employee equity incentive plans
Repurchase of common stock
Payment of dividends to stockholders
Other financing
Net cash used for financing activities
Effect of exchange rate fluctuations on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, end of year
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest, net of capitalized interest
Income taxes, net of refunds

2013

8,478

2012

9,620

$
$

11,005

6,790
1,118
240
(49)
1,242
(425)

(900)

5,065

2011

5,498
12,942

6,357
1,102

(142)
1,165
(141)

(242)

5,141
1,053

(37)
923
(112)
(164)
790

271
563
267
155
1,019
865
11,156
20,776

(176)
(626)
67
192
229
94
7,879
18,884

(678)
(243)
596
(95)
660
187
8,021
20,963

(10,711)
(925)
(12,493)
934
8,336
(16,718)
13,677
132
(200)
(440)

(11,027)
(638)
(8,694)
2,282
5,369
(16,892)
15,786
149
(216)
(475)

(10,764)
(8,721)
(11,230)
9,076
11,029
(11,314)
11,771
134
(206)
(693)

45
(36)

326
(18,073)

605
137
(815)

369
(14,060)

263
(66)
50
370
(10,301)

(31)
129
49

1,588
(2,440)
(4,479)
(314)
(5,498)
(9)
(2,804)
5,674 $
204
2,874

$
$

See Notes to Consolidated Financial Statements in the 2013 Form 10-K filed with the SEC.

65
209
63
124
142
37
6,124
4,962
(125)

2,111
2,045
(5,110)
(14,340)
(4,350)
(4,127)
(328)
(10)
(1,408)
(11,100)
(3)
5
3,413
(433)
8,478 $
5,065
71
3,930

$
$

3,338

INTEL CORPORATION 2013

Consolidated Statements of Stockholders' Equity

Three Years Ended December 28, 2013
Common Stock and Capital
in Excess of Par Value
(In Millions, Except Per Share Amounts)

Balance as of December 25, 2010

Components of comprehensive income, net
of tax:
Net income
Other comprehensive income (loss)
Total comprehensive income
Proceeds from sales of shares through
employee equity incentive plans, net tax
deficiency, and other
Assumption of equity awards in connection
with acquisitions
Share-based compensation
Repurchase of common stock
Cash dividends declared ($0.7824 per
common share)
Balance as of December 31, 2011
Components of comprehensive income, net
of tax:
Net income
Other comprehensive income (loss)
Total comprehensive income
Proceeds from sales of shares through
employee equity incentive plans, net
excess tax benefit, and other
Share-based compensation
Repurchase of common stock
Cash dividends declared ($0.87 per common
share)
Balance as of December 29, 2012
Components of comprehensive income, net
of tax:
Net income
Other comprehensive income (loss)
Total comprehensive income
Proceeds from sales of shares through
employee equity incentive plans, net tax
deficiency, and other
Share-based compensation
Repurchase of common stock
Cash dividends declared ($0.90 per common
share)
Balance as of December 28, 2013

Number of
Shares

5,511

Amount

16,178

Accumulated
Other
Comprehensive
Income (Loss)

333

Retained
Earnings

Total

142

2,019

2,019

48
1,053

48
1,053

(2,262)

5,000

17,036

148

(204)

2,257
1,108
(937)

4,944

19,464

130

(107)

4,967

(14,340)

(781)

(4,127)
29,656

(4,127)
45,911

382

11,005

11,005
382
11,387

(4,173)

2,257
1,108
(5,110)

(4,350)
32,138

(4,350)
51,203

9,620

9,620
1,642
11,262

(1,802)

1,593
1,117
(2,440)

(4,479)
35,477 $

(4,479)
58,256

(399)

1,642

12,942
(1,114)
11,828

(12,078)

1,593
1,117
(638)

21,536

12,942

49,430

(653)

(1,114)

32,919

1,243

See Notes to Consolidated Financial Statements in the 2013 Form 10-K filed with the SEC.

INTEL CORPORATION 2013

Financial Information by Quarter (Unaudited)

2013 for Quarter Ended
(In Millions, Except Per Share Amounts)

Net revenue
Gross margin
Net income
Basic earnings per common share
Diluted earnings per common share
Dividends per common share
Declared
Paid
Market price range common stock1
High
Low
2012 for Quarter Ended
(In Millions, Except Per Share Amounts)

Net revenue
Gross margin
Net income
Basic earnings per common share
Diluted earnings per common share
Dividends per common share
Declared
Paid
Market price range common stock1
High
Low
1

December 28

September 28

June 29

March 30

$
$
$
$
$

13,834
8,571
2,625
0.53
0.51

$
$
$
$
$

13,483
8,414
2,950
0.59
0.58

$
$
$
$
$

12,811
7,470
2,000
0.40
0.39

$
$
$
$
$

12,580
7,066
2,045
0.41
0.40

$
$

0.2250

$
$

0.4500
0.2250

$
$

0.2250

$
$

0.4500
0.2250

$
$

25.70
22.48

$
$

24.25
21.92

$
$

25.47
20.94

$
$

22.68
20.23

December 29

September 29

June 30

March 31

$
$
$
$
$

13,477
7,817
2,468
0.50
0.48

$
$
$
$
$

13,457
8,515
2,972
0.59
0.58

$
$
$
$
$

13,501
8,554
2,827
0.56
0.54

$
$
$
$
$

12,906
8,265
2,738
0.55
0.53

$
$

0.2250

$
$

0.4500
0.2250

$
$

0.2100

$
$

0.4200
0.2100

$
$

22.84
19.36

$
$

26.88
22.54

$
$

29.18
25.04

$
$

28.19
24.54

Intels common stock (symbol INTC) trades on The NASDAQ Global Select Market*. All stock prices are closing
prices per The NASDAQ Global Select Market*.