AMD Reports Fourth Quarter and Full Year 2020 Financial Results


RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In millions, except per share data) (Unaudited)
	Three Months Ended									Year Ended
	December 26, 2020			September 26, 2020			December 28, 2019			December 26, 2020			December 28, 2019
GAAP gross profit	$	1,451		$	1,230		$	949		$	4,347		$	2,868
*GAAP gross margin %*	45		%	44		%	45		%	45		%	43		%
Stock-based compensation	1			1			1			6			6
Non-GAAP gross profit	$	1,452		$	1,231		$	950		$	4,353		$	2,874
*Non-GAAP gross margin %*	45		%	44		%	45		%	45		%	43		%

GAAP operating expenses	$	881		$	781		$	601		$	2,978		$	2,297
*GAAP operating expenses/revenue %*	27		%	28		%	28		%	31		%	34		%
Stock-based compensation	78			75			56			268			191
Loss contingency on legal matter	—			—			—			—			12
Acquisition-related costs	14			—			—			14			—
Non-GAAP operating expenses	$	789		$	706		$	545		$	2,696		$	2,094
*Non-GAAP operating expenses/revenue%*	24		%	25		%	26		%	28		%	31		%

GAAP operating income	$	570		$	449		$	348		$	1,369		$	631
*GAAP operating margin %*	18		%	16		%	16		%	14		%	9		%
Stock-based compensation	79			76			57			274			197
Loss contingency on legal matter	—			—			—			—			12
Acquisition-related costs	14			—			—			14			—
Non-GAAP operating income	$	663		$	525		$	405		$	1,657		$	840
*Non-GAAP operating margin %*	20		%	19		%	19		%	17		%	12		%

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