2021 Q4 Form 10-K Financial Statement

#000000248822000016 Filed on February 03, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $4.826B $16.43B $3.244B
YoY Change 48.77% 68.33% 52.52%
Cost Of Revenue $2.400B $8.505B $1.793B
YoY Change 33.85% 57.03% 52.21%
Gross Profit $2.426B $7.929B $1.451B
YoY Change 67.2% 82.4% 52.9%
Gross Profit Margin 50.27% 48.25% 44.73%
Selling, General & Admin $412.0M $1.448B $308.0M
YoY Change 33.77% 45.53% 49.51%
% of Gross Profit 16.98% 18.26% 21.23%
Research & Development $811.0M $2.845B $573.0M
YoY Change 41.54% 43.47% 45.06%
% of Gross Profit 33.43% 35.88% 39.49%
Depreciation & Amortization $118.0M $296.0M $90.00M
YoY Change 31.11% 36.41% 40.63%
% of Gross Profit 4.86% 3.73% 6.2%
Operating Expenses $1.223B $4.293B $881.0M
YoY Change 38.82% 44.16% 46.59%
Operating Profit $1.203B $3.648B $570.0M
YoY Change 111.05% 166.47% 63.79%
Interest Expense $0.00 $34.00M $9.000M
YoY Change -100.0% -27.66% -50.0%
% of Operating Profit 0.0% 0.93% 1.58%
Other Income/Expense, Net -$28.00M $55.00M -$15.00M
YoY Change 86.67% -217.02% -88.0%
Pretax Income $1.203B $3.675B $546.0M
YoY Change 120.33% 187.11% 166.34%
Income Tax $229.0M $513.0M -$1.232B
% Of Pretax Income 19.04% 13.96% -225.64%
Net Earnings $974.0M $3.162B $1.781B
YoY Change -45.31% 26.99% 947.65%
Net Earnings / Revenue 20.18% 19.24% 54.9%
Basic Earnings Per Share $2.61 $1.48
Diluted Earnings Per Share $796.4K $2.57 $1.45
COMMON SHARES
Basic Shares Outstanding 1.208B shares 1.213B shares 1.205B shares
Diluted Shares Outstanding 1.229B shares 1.226B shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.608B $3.608B $2.290B
YoY Change 57.55% 57.55% 52.36%
Cash & Equivalents $2.535B $2.535B $1.595B
Short-Term Investments $1.073B $1.073B $695.0M
Other Short-Term Assets $314.0M $314.0M $388.0M
YoY Change -19.07% -19.07% 53.36%
Inventory $1.955B $1.955B $1.399B
Prepaid Expenses
Receivables $2.706B $2.706B $2.066B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.583B $8.583B $6.143B
YoY Change 39.72% 39.72% 33.63%
LONG-TERM ASSETS
Property, Plant & Equipment $702.0M $1.069B $641.0M
YoY Change 9.52% 25.91% 28.2%
Goodwill $289.0M $289.0M
YoY Change 0.0% 0.0%
Intangibles $0.00
YoY Change
Long-Term Investments $69.00M $69.00M $63.00M
YoY Change 9.52% 9.52% 8.62%
Other Assets $1.478B $1.165B $373.0M
YoY Change 296.25% -16.13% 4.48%
Total Long-Term Assets $3.836B $3.836B $2.819B
YoY Change 36.08% 36.08% 97.0%
TOTAL ASSETS
Total Short-Term Assets $8.583B $8.583B $6.143B
Total Long-Term Assets $3.836B $3.836B $2.819B
Total Assets $12.42B $12.42B $8.962B
YoY Change 38.57% 38.57% 48.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.321B $1.406B $468.0M
YoY Change 182.26% 157.51% -52.63%
Accrued Expenses $2.424B $1.562B $1.796B
YoY Change 34.97% 56.51% 65.68%
Deferred Revenue
YoY Change
Short-Term Debt $312.0M $0.00 $0.00
YoY Change
Long-Term Debt Due $312.0M $312.0M
YoY Change
Total Short-Term Liabilities $4.240B $4.240B $2.417B
YoY Change 75.42% 75.42% 2.46%
LONG-TERM LIABILITIES
Long-Term Debt $1.000M $1.000M $330.0M
YoY Change -99.7% -99.7% -32.1%
Other Long-Term Liabilities $321.0M $669.0M $177.0M
YoY Change 81.36% 82.29% 12.74%
Total Long-Term Liabilities $322.0M $670.0M $507.0M
YoY Change -36.49% -3.87% -21.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.240B $4.240B $2.417B
Total Long-Term Liabilities $322.0M $670.0M $507.0M
Total Liabilities $4.562B $4.922B $2.924B
YoY Change 56.02% 57.5% -2.6%
SHAREHOLDERS EQUITY
Retained Earnings -$1.451B -$4.605B
YoY Change -68.49% -35.1%
Common Stock $11.08B $10.56B
YoY Change 4.97% 5.82%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.130B $131.0M
YoY Change 1525.95% 147.17%
Treasury Stock Shares 25.00M shares 6.000M shares
Shareholders Equity $7.497B $7.497B $5.837B
YoY Change
Total Liabilities & Shareholders Equity $12.42B $12.42B $8.962B
YoY Change 38.57% 38.57% 48.67%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $974.0M $3.162B $1.781B
YoY Change -45.31% 26.99% 947.65%
Depreciation, Depletion And Amortization $118.0M $296.0M $90.00M
YoY Change 31.11% 36.41% 40.63%
Cash From Operating Activities $822.0M $3.521B $554.0M
YoY Change 48.38% 228.76% 25.34%
INVESTING ACTIVITIES
Capital Expenditures -$86.00M $301.0M -$74.00M
YoY Change 16.22% 2.38% 76.19%
Acquisitions
YoY Change
Other Investing Activities $86.00M $7.000M -$220.0M
YoY Change -139.09% -1475.0%
Cash From Investing Activities $0.00 -$686.0M -$294.0M
YoY Change -100.0% -27.94% 1030.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.762B
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -727.0M -$1.895B 35.00M
YoY Change -2177.14% -31683.33% -132.71%
NET CHANGE
Cash From Operating Activities 822.0M $3.521B 554.0M
Cash From Investing Activities 0.000 -$686.0M -294.0M
Cash From Financing Activities -727.0M -$1.895B 35.00M
Net Change In Cash 95.00M $940.0M 295.0M
YoY Change -67.8% 652.0% -4.53%
FREE CASH FLOW
Cash From Operating Activities $822.0M $3.521B $554.0M
Capital Expenditures -$86.00M $301.0M -$74.00M
Free Cash Flow $908.0M $3.220B $628.0M
YoY Change 44.59% 314.41% 29.75%

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CY2021 us-gaap Deferred Income Taxes And Tax Credits
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CY2020 us-gaap Deferred Income Taxes And Tax Credits
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CY2019 us-gaap Deferred Income Taxes And Tax Credits
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CY2021 us-gaap Increase Decrease In Equity Securities Fv Ni
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CY2020 us-gaap Increase Decrease In Equity Securities Fv Ni
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CY2019 us-gaap Increase Decrease In Equity Securities Fv Ni
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CY2021 us-gaap Other Noncash Income Expense
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CY2020 us-gaap Other Noncash Income Expense
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CY2019 us-gaap Other Noncash Income Expense
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2020 us-gaap Increase Decrease In Accounts Receivable
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CY2019 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Inventories
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CY2020 us-gaap Increase Decrease In Inventories
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CY2019 us-gaap Increase Decrease In Inventories
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CY2021 amd Increase Decreasein Prepayments Related Parties
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CY2020 amd Increase Decreasein Prepayments Related Parties
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CY2019 amd Increase Decreasein Prepayments Related Parties
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021 us-gaap Increase Decrease In Due To Related Parties
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CY2020 us-gaap Increase Decrease In Due To Related Parties
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CY2019 us-gaap Increase Decrease In Due To Related Parties
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CY2021 us-gaap Increase Decrease In Accounts Payable
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CY2020 us-gaap Increase Decrease In Accounts Payable
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CY2019 us-gaap Increase Decrease In Accounts Payable
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CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2020 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2019 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
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CY2020 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
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CY2019 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
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CY2021 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
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CY2020 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
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CY2019 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
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CY2021 us-gaap Proceeds From Sale And Collection Of Receivables
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CY2020 us-gaap Proceeds From Sale And Collection Of Receivables
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CY2019 us-gaap Proceeds From Sale And Collection Of Receivables
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CY2021 us-gaap Payments For Proceeds From Other Investing Activities
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CY2020 us-gaap Payments For Proceeds From Other Investing Activities
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CY2019 us-gaap Payments For Proceeds From Other Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Proceeds From Short Term Debt
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CY2020 us-gaap Proceeds From Short Term Debt
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CY2019 us-gaap Proceeds From Short Term Debt
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CY2021 us-gaap Repayments Of Debt
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CY2020 us-gaap Repayments Of Debt
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CY2019 us-gaap Repayments Of Debt
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CY2021 us-gaap Proceeds From Warrant Exercises
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CY2020 us-gaap Proceeds From Warrant Exercises
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CY2019 us-gaap Proceeds From Warrant Exercises
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CY2021 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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CY2020 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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CY2019 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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CY2021 us-gaap Payments For Repurchase Of Common Stock
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CY2020 us-gaap Payments For Repurchase Of Common Stock
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CY2019 us-gaap Payments For Repurchase Of Common Stock
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2021 us-gaap Proceeds From Payments For Other Financing Activities
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CY2020 us-gaap Proceeds From Payments For Other Financing Activities
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CY2019 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Interest Paid Net
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CY2020 us-gaap Interest Paid Net
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CY2019 us-gaap Interest Paid Net
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CY2021 us-gaap Income Taxes Paid Net
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CY2020 us-gaap Income Taxes Paid Net
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CY2019 us-gaap Income Taxes Paid Net
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
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CY2020 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
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CY2019 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
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CY2021 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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CY2020 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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CY2019 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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CY2021 amd Issuance Of Treasury Stock To Partially Settle Debt
IssuanceOfTreasuryStockToPartiallySettleDebt
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CY2020 amd Issuance Of Treasury Stock To Partially Settle Debt
IssuanceOfTreasuryStockToPartiallySettleDebt
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CY2019 amd Issuance Of Treasury Stock To Partially Settle Debt
IssuanceOfTreasuryStockToPartiallySettleDebt
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Restricted Cash Current
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CY2020Q4 us-gaap Restricted Cash Current
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CY2019Q4 us-gaap Restricted Cash Current
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Fiscal Period
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<span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fiscal Year</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The Company uses a 52- or 53-week fiscal year ending on the last Saturday in December. Fiscal 2021, 2020 and 2019 ended on December 25, 2021, December 26, 2020 and December 28, 2019, respectively. Fiscal 2021, 2020 and 2019 each consisted of 52 weeks.</span>
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassification. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to current period presentation.</span>
CY2021 us-gaap Use Of Estimates
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<span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results are likely to differ from those estimates, and such differences may be material to the financial statements. Areas where management uses subjective judgment include, but are not limited to, revenue allowances, inventory valuation, valuation and assessing potential impairment, if any, of goodwill and deferred income taxes.</span>
CY2020Q4 us-gaap Inventory Work In Process
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CY2021Q4 us-gaap Inventory Finished Goods
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CY2020Q4 us-gaap Inventory Finished Goods
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CY2021 us-gaap Marketing And Advertising Expense
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CY2020 us-gaap Marketing And Advertising Expense
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CY2019 us-gaap Marketing And Advertising Expense
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CY2021Q4 us-gaap Short Term Investments
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CY2020Q4 us-gaap Short Term Investments
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CY2021Q4 us-gaap Unbilled Receivables Current
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CY2020Q4 us-gaap Unbilled Receivables Current
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CY2021Q4 us-gaap Inventory Raw Materials
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CY2020Q4 us-gaap Inventory Raw Materials
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CY2021Q4 us-gaap Inventory Work In Process
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CY2021Q4 us-gaap Inventory Net
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CY2020Q4 us-gaap Inventory Net
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CY2021Q4 us-gaap Leasehold Improvements Gross
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CY2020Q4 us-gaap Leasehold Improvements Gross
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CY2021Q4 us-gaap Machinery And Equipment Gross
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CY2020Q4 us-gaap Machinery And Equipment Gross
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CY2021Q4 us-gaap Construction In Progress Gross
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CY2020Q4 us-gaap Construction In Progress Gross
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CY2021Q4 us-gaap Property Plant And Equipment Gross
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CY2020Q4 us-gaap Property Plant And Equipment Gross
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CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2020Q4 us-gaap Property Plant And Equipment Net
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CY2021 us-gaap Depreciation
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CY2020 us-gaap Depreciation
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CY2019 us-gaap Depreciation
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CY2021Q4 us-gaap Prepaid Expense Noncurrent
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CY2020Q4 us-gaap Prepaid Expense Noncurrent
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CY2021Q4 amd Software Technology And Licenses Net Noncurrent
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328000000 USD
CY2020Q4 amd Software Technology And Licenses Net Noncurrent
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CY2021Q4 us-gaap Other Assets Miscellaneous Noncurrent
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CY2020Q4 us-gaap Other Assets Miscellaneous Noncurrent
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CY2021Q4 us-gaap Other Assets Noncurrent
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CY2020Q4 us-gaap Other Assets Noncurrent
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373000000 USD
CY2020 us-gaap Goodwill Impairment Loss
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CY2021 us-gaap Goodwill Impairment Loss
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CY2021Q4 amd Accrued Marketing And Advertising Current
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CY2020Q4 amd Accrued Marketing And Advertising Current
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CY2021Q4 us-gaap Employee Related Liabilities Current
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CY2020Q4 us-gaap Employee Related Liabilities Current
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CY2021Q4 us-gaap Other Accrued Liabilities Current
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CY2020Q4 us-gaap Other Accrued Liabilities Current
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CY2021Q4 us-gaap Accrued Liabilities Current
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CY2020Q4 us-gaap Accrued Liabilities Current
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CY2021Q4 us-gaap Revenue Remaining Performance Obligation
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CY2021Q4 us-gaap Revenue Remaining Performance Obligation
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CY2021Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P12M
CY2021Q4 us-gaap Principal Amount Outstanding Of Loans Held In Portfolio
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CY2020Q4 us-gaap Principal Amount Outstanding Of Loans Held In Portfolio
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CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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330000000 USD
CY2021Q4 us-gaap Short Term Borrowings
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CY2020Q4 us-gaap Short Term Borrowings
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CY2021Q4 us-gaap Long Term Debt
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CY2020Q4 us-gaap Long Term Debt
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330000000 USD
CY2021 us-gaap Gains Losses On Extinguishment Of Debt
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CY2020 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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312000000 USD
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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1000000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
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313000000 USD
CY2021 us-gaap Equity Securities Fv Ni Gain Loss
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64000000 USD
CY2019 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
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CY2021 us-gaap Net Income Loss Attributable To Parent Diluted
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3162000000 USD
CY2021 us-gaap Net Income Loss
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3162000000 USD
CY2020 us-gaap Net Income Loss
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2490000000 USD
CY2019 us-gaap Net Income Loss
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341000000 USD
CY2021 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
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CY2020 us-gaap Net Income Loss Attributable To Parent Diluted
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2491000000 USD
CY2019 us-gaap Net Income Loss Attributable To Parent Diluted
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341000000 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1213000000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1184000000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1091000000 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
16000000 shares
CY2020 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
20000000 shares
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
29000000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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0 shares
CY2020 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
3000000 shares
CY2019 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1229000000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1207000000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1120000000 shares
CY2021 us-gaap Earnings Per Share Basic
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2.61
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.10
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.57
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.06
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2021 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
16700000 shares
CY2021 us-gaap Stock Repurchased During Period Value
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1800000000 USD
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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2200000000 USD
CY2021 us-gaap Allocated Share Based Compensation Expense
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379000000 USD
CY2020 us-gaap Allocated Share Based Compensation Expense
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q4 us-gaap Operating Lease Liability
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Contingencies <div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Shareholder Derivative Lawsuits (Wessels, Hamilton and Ha)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 20, 2014, a purported shareholder derivative lawsuit captioned Wessels v. Read, et al., Case No. 1:14 cv-262486 (Wessels) was filed against the Company (as a nominal defendant only) and certain of its directors and officers in the Santa Clara County Superior Court of the State of California. The complaint purports to assert claims against the Company and certain individual directors and officers for breach of fiduciary duty, waste of corporate assets and unjust enrichment. The complaint seeks damages allegedly caused by alleged materially misleading statements and/or material omissions by the Company and the individual directors and officers regarding its 32 nm technology and “Llano” product, which statements and omissions, the plaintiffs claim, allegedly operated to artificially inflate the price paid for the Company’s common stock during the period. On April 27, 2015, a similar purported shareholder derivative lawsuit captioned Christopher Hamilton and David Hamilton v. Barnes, et al., Case No. 5:15-cv-01890 (Hamilton) was filed against the Company (as a nominal defendant only) and certain of its directors and officers in the United States District Court for the Northern District of California.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 29, 2015, a similar purported shareholder derivative lawsuit captioned Jake Ha v Caldwell, et al., Case No. 3:15-cv-04485 (Ha) was filed against the Company (as a nominal defendant only) and certain of its directors and officers in the United States District Court for the Northern District of California. The lawsuit also seeks a court order voiding the stockholder vote on the Company’s 2015 proxy. The case was transferred to the judge handling the Hamilton Lawsuit and is now Case No. 4:15-cv-04485. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Wessels, Hamilton and Ha shareholder derivative lawsuits were stayed pending resolution of a class action lawsuit captioned Hatamian v. AMD, et al., C.A. No. 3:14-cv-00226 filed against the Company in the United States District Court for the Northern District of California (the Hatamian Lawsuit). The Hatamian Lawsuit asserted claims against the Company and certain of its officers for alleged violations of Section 10(b) of the Exchange Act of 1934, as amended (the Exchange Act), and SEC Rule 10b-5 concerning certain statements regarding its 32 nm technology and “Llano” products. On October 9, 2017, the parties signed a definitive settlement agreement resolving the Hatamian Lawsuit and submitted it to the Court for approval. Under the terms of this agreement, the settlement was funded entirely by certain of the Company’s insurance carriers and the defendants continued to deny any liability or wrongdoing. On March 2, 2018, the court approved the settlement and entered a final judgment in the Hatamian Lawsuit.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 23, 2018, the Santa Clara Superior Court sustained the Company’s demurrer in the Wessels case, dismissing all claims in that matter with prejudice. The California Court of Appeal affirmed this decision on August 27, 2020 and issued its remittitur on September 9, 2020, which foreclosed further appeals in the state court litigation. On October 4, 2018, the district court issued an order dismissing the Hamilton and Ha amended complaints and both plaintiffs appealed. On March 16, 2020, the Ninth Circuit affirmed the district court’s dismissal of the Ha complaint and the time to seek further appeals has since expired. On the same day, the Ninth Circuit also reversed and remanded the district court’s dismissal of the Hamilton complaint for further consideration of defendants’ motion to dismiss. Following supplemental briefing, the district court entered an order on April 5, 2021 dismissing with prejudice all claims in the Hamilton action as precluded by the decision in the Wessels case.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Quarterhill Inc. Litigation </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 2, 2018, three entities named Aquila Innovations, Inc. (Aquila), Collabo Innovations, Inc. (Collabo), and Polaris Innovations, Ltd. (Polaris), filed separate patent infringement complaints against the Company in the United States District Court for the Western District of Texas. Aquila alleges that the Company infringes two patents (6,239,614 and 6,895,519) relating to power management; Collabo alleges that the Company infringes one patent (7,930,575) related to power management; and Polaris alleges that the Company infringes two patents (6,728,144 and 8,117,526) relating to control or use of dynamic random-access memory, or DRAM. Each of the three complaints seeks unspecified monetary damages, interest, fees, expenses, and costs against the Company; Aquila and Collabo also seek enhanced damages. Aquila, Collabo, and Polaris each appear to be related to a patent assertion entity named Quarterhill Inc. (formerly WiLAN Inc.). On May 14, 2020, at the request of Polaris, the Court dismissed all claims related to one of the two patents in suite in the Polaris case. On June 10, 2020, the Court granted AMD’s motions to stay the Polaris and Aquila cases pending the completion of inter partes review of each of the patents-in-suit in those cases by the Patent Trial and Appeal Board. On February 22, 2021, February 26, 2021, and March 10, 2021, the Patent Trial and Appeal Board issued final written decisions in inter partes reviews invalidating all asserted claims of the remaining Polaris and Aquila patents. On May 10, 2021, Aquila filed a notice of appeal to the Court of Appeals for the Federal Circuit for the IPR decision regarding U.S. Patent No. 6,895,519. On April 30, 2021, Polaris filed a notice of appeal to the Court of Appeals for the Federal Circuit for the IPR decision regarding U.S. Patent No. 8,117,526. On May 14, 2021, AMD filed a notice of cross-appeal to the Court of Appeals for the Federal Circuit for the IPR decision regarding U.S. Patent No. 8,117,526. Appellate briefing is underway. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Monterey Research Litigation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 15, 2019, Monterey Research, LLC filed a patent infringement complaint against the Company in the United States District Court for the District of Delaware (Case. No. 1:19-cv-02149). Monterey Research alleges that the Company infringes six U.S. patents: 6,534,805 (related to SRAM cell design); 6,629,226 (related to read interface protocols); 6,651,134 (related to memory devices); 6,765,407 (related to programmable digital circuits); 6,961,807 (related to integrated circuits and associated memory systems); and 8,373,455 (related to output buffer circuits). Monterey Research seeks unspecified monetary damages, enhanced damages, interest, fees, expenses, costs, and injunctive relief against the Company. On January 22, 2020, the Company filed a motion to dismiss part of Monterey Research’s complaint. On February 5, 2020, Monterey Research filed an amended complaint. On February 19, 2020, the Company filed a renewed motion to dismiss part of Monterey Research’s complaint. On October 13, 2020, the Court granted in part, and denied in part, the Company’s renewed motion to dismiss. On October 27, 2020, the Company filed its answer to Monterey’s complaint and also filed counterclaims based on Monterey’s breach of the parties’ pre-suit non-disclosure agreement. On December 1, 2020, Monterey filed a motion to dismiss the Company’s counterclaims. On January 5, 2021, the Court granted the Company’s motion to stay the litigation pending inter partes review of the patents-in-suit by the Patent Trial and Appeals Board. In November and December 2021 and January 2022, the USPTO issued five final written decisions in the inter partes reviews cancelling all challenged claims of five patents in suit.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 12, 2021, Monterey filed two patent infringement complaints in the United States District Court for the Western District of Texas (Case. No. 6:21-cv-00839 and Case. No. 6:21-cv-00840). In the first complaint, Monterey alleges that the Company infringes two patents (8,694,776 and 9,767,303) related to memory controllers, three patents (8,572,297, 7,609,799, and 7,899,145) related to circuit designs, and one patent (6,979,640) related to semiconductor processing. In the second complaint, Monterey alleges that the Company infringes one patent (6,680,516) related to semiconductor processing. In both complaints, Monterey Research seeks unspecified monetary damages, enhanced damages, interest, fees, expenses, costs, and injunctive relief against the Company. On October 22, 2021, Monterey Research filed an amended complaint in Case. No. 6:21-cv-00840 withdrawing its infringement claims for the ’776 and ’303 patents, and asserting an additional infringement claim for a patent related to circuit design (8,103,497).On November 15, 2021, the Company filed a motion to dismiss the complaint. On December 8, 2021, Monterey filed its response. On December 20, 2021, the Company filed a motion to transfer the case to Austin division. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">City of Pontiac Police and Fire Retirement System Litigation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 29, 2020, the City of Pontiac Police and Fire Retirement System, an AMD shareholder, filed a shareholder derivative complaint (the “Complaint”) against AMD and the members of its Board of Directors (collectively, “Defendants”) in the United States District Court for the Northern District of California. See City of Pontiac Police and Fire Retirement System v. Caldwell, et al., No. 5:20-cv-6794 (N.D. Cal.). The Complaint alleges that Defendants breached their fiduciary duties, violated Section 14(a) of the Exchange Act of 1934, and were unjustly enriched by misrepresenting the Company’s commitment to diversity, particularly with respect to the composition of the membership of AMD’s Board of Directors and senior leadership team. On December 18, 2020, Defendants filed a motion to dismiss the Complaint. On February 12, 2021, Plaintiff filed an opposition to Defendants’ motion to dismiss, and on March 12, 2021, Defendants filed a reply brief in support of the motion to dismiss. On July 1, 2021, the Court granted Defendants’ motion to dismiss, without prejudice. On August 2, 2021, the parties filed a joint stipulation to dismiss the case with prejudice, and the court approved the joint stipulation on August 3, 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Xilinx Acquisition Litigation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 26, 2020, the Company, its wholly-owned subsidiary, Thrones Merger Sub, Inc., and Xilinx, Inc. (“Xilinx”) entered a definitive agreement (the “Merger Agreement”) in which the Company will acquire Xilinx by merging Thrones Merger Sub, Inc. with and into Xilinx, with Xilinx continuing as the surviving corporation and becoming a wholly-owned subsidiary of the Company (the “Proposed Transaction”). See Note 13 of Notes to Consolidated Financial Statements for additional information. On December 3, 2020, the Company and Xilinx filed a Registration Statement on Form S-4 (together with the joint proxy statement and prospectus contained therein, the “Registration Statement”) describing the Proposed Transaction and other related matters. On December 11, 2020, a Xilinx shareholder filed a putative class action in the New York State Supreme Court, New York County, regarding the Proposed Transaction. Nunez v. Xilinx, Case No. 656971/2020 (N.Y. Sup. Ct.) (“Nunez”). The lawsuit alleges that the Board of Directors of Xilinx breached their fiduciary duties to Xilinx shareholders in connection with the Proposed Transaction by allegedly failing to obtain fair, adequate and maximum consideration for Xilinx shareholders in connection with the Proposed Transaction and by not disclosing certain material information about the Proposed Transaction in the Registration Statement. The lawsuit asserts a single claim against the Company, alleging that it aided and abetted the Xilinx directors’ breach of their fiduciary duties. The lawsuit seeks to enjoin or rescind any transaction with Xilinx as well as certain other equitable relief, unspecified damages and attorneys’ fees and costs.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 15, 2020, a Xilinx shareholder filed a lawsuit in the United States District Court for the Southern District of New York, regarding the Proposed Transaction. Shumacher v. Xilinx, Case No. 1:20-cv-10595 (S.D.N.Y.) (“Shumacher”). The lawsuit alleges that Xilinx and its Board of Directors disseminated a false and misleading Registration Statement that omitted material information regarding the Proposed Transaction, thereby violating Section 14(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The lawsuit also asserts a single claim against the Company, alleging that it acted as a controlling person of Xilinx within the meaning of Section 20(a) of the Exchange Act by virtue of its supervisory control over the composition of the Registration Statement. The lawsuit seeks to enjoin or rescind any transaction with Xilinx as well as certain other equitable relief, unspecified damages and attorneys’ fees and costs.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 23, 2020, a shareholder of the Company filed a lawsuit in the United States District Court of the Southern District of New York regarding the Proposed Transaction. Vazirani v. Advanced Micro Devices, Case No. 1:20-cv-10894 (S.D.N.Y) (“Vazirani”). The lawsuit alleges that the Company and its Board of Directors disseminated a false and misleading Registration Statement that omitted material information regarding the Proposed Transaction, thereby violating Sections 14(a) and 20(a) of the Exchange Act. The lawsuit seeks to enjoin or rescind any transaction with Xilinx as well as certain other equitable relief, unspecified damages and attorneys’ fees and costs.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 22, 2021, the Nunez complaint was voluntarily dismissed, and on March 25, 2021, the Vazirani complaint was voluntarily dismissed. The Shumacher complaint was voluntarily dismissed on April 9, 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Future Link Systems Litigation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On December 21, 2020, Future Link Systems, LLC filed a patent infringement complaint against the Company in the United States District Court for the Western District of Texas. Future Link Systems alleges that the Company infringes three U.S. patents: 7,983,888 (related to simulated PCI express circuitry); 6,363,466 (related to out of order data transactions); and 6,622,108 (related to interconnect testing). Future Link Systems seeks unspecified monetary damages, enhanced damages, interest, fees, expenses, costs, and injunctive relief against the Company. On March 22, 2021, the Company filed its answer to Future Link Systems’ complaint and also filed counterclaims based on Future Link Systems’ breach of the parties’ pre-suit non-disclosure agreement. On April 12, 2021, Future Link Systems filed its answer to the Company’s counterclaims. On June 3, 2021, the Company filed a motion to transfer the case to Austin, Texas. On October 14, 2021, the Court issued an order construing certain terms in the asserted patents. On November 22, 2021, the case was reassigned to the Austin division. On January 5, 2022, the Company filed a motion to strike Future Link System’s infringement contentions, and Future Link Systems filed a response on January 19, 2022. On January 14, 2022, the USPTO instituted an IPR trial for one of the three patents in suit. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2021, Future Link Systems LLC filed a lawsuit alleging infringement of two patents related to power management. The Company was served with the complaint on December 28, 2021. On December 28, 2021, Future Link Systems LLC filed a complaint at the United States International Trade Commission alleging infringement of the same two power management patents. Several of the Company’s customers were also named as respondents. On January 26, 2022, the USITC announced that it would institute the investigation.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based upon information presently known to management, the Company believes that the potential liability of the above listed legal proceedings, if any, will not have a material adverse effect on its financial condition, cash flows or results of operations.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Environmental Matters</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is named as a responsible party on Superfund clean-up orders for three sites in Sunnyvale, California that are on the National Priorities List. Since 1981, the Company has discovered hazardous material releases to the groundwater from former underground tanks and proceeded to investigate and conduct remediation at these three sites. The chemicals released into the groundwater were commonly used in the semiconductor industry in the United States in the wafer fabrication process prior to 1979.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 1991, the Company received Final Site Clean-up Requirements Orders from the California Regional Water Quality Control Board relating to the three sites. The Company has entered into settlement agreements with other responsible parties on two of the orders. During the term of such agreements, other parties have agreed to assume most of the foreseeable costs as well as the primary role in conducting remediation activities under the orders. The Company remains responsible for additional costs beyond the scope of the agreements as well as all remaining costs in the event that the other parties do not fulfill their obligations under the settlement agreements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To address anticipated future remediation costs under the orders, the Company has computed and recorded an estimated environmental liability of approximately $3.8 million and has not recorded any potential insurance recoveries in determining the estimated costs of the cleanup. The progress of future remediation efforts cannot be predicted with certainty and these costs may change. The Company believes that any amount in addition to what has already been accrued would not be material.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Other Legal Matters</span></div>The Company is a defendant or plaintiff in various actions that arose in the normal course of business. With respect to these matters, based on the management’s current knowledge, the Company believes that the amount or range of reasonably possible loss, if any, will not, either individually or in the aggregate, have a material adverse effect on the Company’s financial position, results of operations, or cash flows.
CY2021Q4 amd Site Contingency Numberof Sites
SiteContingencyNumberofSites
3 site
CY2021Q4 amd Site Contingency Numberof Sites
SiteContingencyNumberofSites
3 site
CY2021Q4 amd Site Contingency Numberof Sites
SiteContingencyNumberofSites
3 site
CY2021Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
3800000 USD
CY2021Q4 us-gaap Liabilities Subject To Compromise
LiabilitiesSubjectToCompromise
1500000000 USD
CY2021Q4 us-gaap Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
1000000000 USD
CY2021 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2021 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2021 dei Auditor Location
AuditorLocation
San Jose, California
CY2021 dei Auditor Firm
AuditorFirmId
42

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