Intel 1994 Annual Report Download - page 20

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Certain amounts reported in previous years have been reclassified to conform to the 1994 presentation. See accompanying notes.
PAGE 4
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Three years ended December 31, 1994
See accompanying notes.
PAGE 5
ACCOUNTING POLICIES
FISCAL YEAR. Intel Corporation ("Intel" or "the Company") has a fiscal year that ends the last Saturday in December. Fiscal 1994 was a 53-
week year and ended on December 31, 1994. Fiscal 1993 and 1992, each 52-week years, ended on December 25 and 26, respectively. The next
53-week year will end on December 30, 2000.
BASIS OF PRESENTATION. The consolidated financial statements include the accounts of Intel and its wholly owned subsidiaries.
Significant intercompany accounts and transactions have been eliminated. Accounts denominated in foreign currencies have been remeasured
into the functional currency in accordance with Statement of Financial Accounting Standards (SFAS) No. 52, "Foreign Currency Translation,"
using the U.S. dollar as the functional currency.
CASH AND CASH EQUIVALENTS. Cash and cash equivalents are highly liquid investments with insignificant interest rate risk and original
maturities of three months or less.
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest $ 76 $ 39 $ 32
Income taxes $ 1,366 $ 1,123 $ 227
Common Stock and
capital in excess of par value
------------------------------
Number Retained
(In millions) of shares Amount earnings Total
- --------------------------------------------------------------------------------------
Balance at December 28, 1991 408 $ 1,641 $ 2,777 $ 4,418
Proceeds from sales of shares
through employee stock plans,
tax benefit of $55 and other 11 193 -- 193
Proceeds from sales of put warrants,
net of repurchases -- 42 -- 42
Reclassification of put warrant
obligation, net (100) (133) (233)
Cash dividends declared ($.10 per share) -- -- (42) (42)
Net income -- -- 1,067 1,067
-------- -------- -------- --------
Balance at December 26, 1992 419 1,776 3,669 5,445
Proceeds from sales of shares through
employee stock plans, tax benefit
of $68 and other 6 201 -- 201
Proceeds from sales of put warrants -- 62 -- 62
Reclassification of put warrant
obligation, net -- (37) (278) (315)
Proceeds from sale of Step-Up Warrants -- 287 -- 287
Repurchase and retirement of Common Stock (7) (95) (296) (391)
Cash dividends declared ($.20 per share) -- -- (84) (84)
Net income -- -- 2,295 2,295
-------- -------- -------- --------
Balance at December 25, 1993 418 2,194 5,306 7,500
Proceeds from sales of shares through
employee stock plans, tax benefit of
$61 and other 6 215 -- 215
Proceeds from sales of put warrants -- 76 -- 76
Reclassification of put warrant
obligation, net -- (15) (106) (121)
Repurchase and retirement of Common Stock (11) (164) (429) (593)
Redemption of Common Stock Purchase Rights -- -- (2) (2)
Cash dividends declared ($.23 per share) -- -- (96) (96)
Net income -- -- 2,288 2,288
-------- -------- -------- --------
Balance at December 31, 1994 413 $ 2,306 $ 6,961 $ 9,267
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