Intel 1994 Annual Report Download - page 31

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Supplemental information (unaudited)
Quarterly information for the two years ended December 31, 1994 is presented on page 31.
PAGE 14
REPORT OF ERNST & YOUNG LLP
Independent auditors
The Board of Directors and Stockholders, Intel Corporation
We have audited the accompanying consolidated balance sheets of Intel Corporation as of December 31, 1994 and December 25, 1993, and the
related consolidated statements of income, stockholders' equity, and cash flows for each of the three years in the period ended December 31,
1994. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Intel
Corporation at December 31, 1994 and December 25, 1993, and the consolidated results of its operations and its cash flows for each of the
three years in the period ended December 31, 1994, in conformity with generally accepted accounting principles.
PAGE 15
FINANCIAL SUMMARY
(In millions) unaffiliated between geo- Net Operating Identifiable
1994 customers graphic areas revenues income assets
- -------------------------------------------------------------------------------------
United States $ 5,826 $ 4,561 $10,387 $ 2,742 $ 7,771
Europe 3,158 380 3,538 418 1,733
Japan 944 61 1,005 125 343
Asia-Pacific 1,593 1,021 2,614 154 540
Other -- 639 639 378 324
Eliminations -- (6,662) (6,662) 179 (1,878)
Corporate -- -- -- (609) 4,983
------- ------- ------- ------- -------
Consolidated $11,521 $ -- $11,521 $ 3,387 $13,816
======= ======= ======= ======= =======
1993
- -------------------------------------------------------------------------------------
United States $ 4,416 $ 3,406 $ 7,822 $ 2,896 $ 5,379
Europe 2,476 51 2,527 309 1,214
Japan 678 119 797 108 351
Asia-Pacific 1,212 745 1,957 132 420
Other -- 566 566 348 207
Eliminations -- (4,887) (4,887) 85 (1,123)
Corporate -- -- -- (486) 4,896
------- ------- ------- ------- -------
Consolidated $ 8,782 $ -- $ 8,782 $ 3,392 $11,344
======= ======= ======= ======= =======
1992
- -------------------------------------------------------------------------------------
United States $ 3,018 $ 2,339 $ 5,357 $ 1,313 $ 3,761
Europe 1,435 47 1,482 160 937
Japan 452 71 523 54 282
Asia-Pacific 939 595 1,534 127 321
Other -- 444 444 269 175
Eliminations -- (3,496) (3,496) 28 (751)
Corporate -- -- -- (461) 3,364
------- ------- ------- ------- -------
Consolidated $ 5,844 $ -- $ 5,844 $ 1,490 $ 8,089
======= ======= ======= ======= =======
/s/Ernst & Young LLP
San Jose, California
January 16, 1995