AMD Reports Second Quarter 2019 Financial Results



ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions)

	June 29, 2019 ^{(1) (2)}			December 29, 2018 ⁽²⁾
Assets
Current assets:
Cash and cash equivalents	$	963		$	1,078
Marketable securities		165			78
Accounts receivable, net		1,333			1,235
Inventories, net		1,015			845
Prepayment and receivables - related parties		30			34
Prepaid expenses and other current assets		248			270

Total current assets		3,754			3,540
Property and equipment, net		458			348
Operating lease right-of use assets		212			-
Goodwill		289			289
Investment: equity method		58			58
Other assets		331			321

Total Assets	$	5,102		$	4,556

Liabilities and Stockholders' Equity
Current liabilities:
Short-term debt, net	$	-		$	136
Accounts payable		828			834
Payables to related parties		201			207
Accrued liabilities		727			783
Other current liabilities		48			24

Total current liabilities		1,804			1,984
Long-term debt, net		1,031			1,114
Long-term operating lease liabilities		211			-
Other long-term liabilities		155			192

Stockholders' equity:
Capital stock:
Common stock, par value		11			10
Additional paid-in capital		9,325			8,750
Treasury stock, at cost		(50	)		(50	)
Accumulated deficit		(7,385	)		(7,436	)
Accumulated other comprehensive loss		-			(8	)

Total Stockholders' equity		1,901			1,266
Total Liabilities and Stockholders' Equity	$	5,102		$	4,556

⁽¹⁾ During the first quarter of 2019, the Company adopted the new lease accounting standard, ASC 842, Leases, which resulted in an increase to assets and liabilities for leases primarily related to office buildings. The adoption of this standard had no impact to the Company's results of operations or statement of cash flows.

⁽²⁾ During the second quarter of 2019, GLOBALFOUNDRIES Inc. (GF) ceased being a related party of the Company. All prior period GF related party balances have been reclassified to conform to the current period presentation.

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