Summary
This filing is an amendment to Advanced Micro Devices, Inc. (AMD) 's 2001 Form 10-K, filed on August 27, 2002. It primarily focuses on amending Item 14, which details exhibits, financial statement schedules, and reports on Form 8-K. A significant portion of this amendment includes detailed financial statements for Fujitsu AMD Semiconductor Limited (FASL), a joint venture where AMD holds a 49.992% interest and Fujitsu holds the remaining interest. FASL's fiscal year ends March 31, and the amendment provides its financial data up to March 31, 2002. For investors, the key takeaway is the performance and financial position of FASL, particularly its role in the production of non-volatile memory devices like Flash memory. While AMD's consolidated financial statements for 2001 are incorporated by reference, the detailed FASL financials offer specific insights into a crucial part of AMD's operations. Investors should note the revenue trends, profitability, and significant capital expenditures within the joint venture, as well as its related-party transactions with AMD and Fujitsu.
Key Highlights
- 1The filing is an amendment (10-K/A) to AMD's 2001 Annual Report, specifically updating Item 14 concerning exhibits and financial statements.
- 2Detailed financial statements for Fujitsu AMD Semiconductor Limited (FASL), a joint venture where AMD has a ~50% stake, are included for the years ended March 31, 2002, 2001, and 2000.
- 3FASL's primary business is the development and manufacture of non-volatile memory devices (Flash memory).
- 4FASL reported net sales of $816.2 million in FY2002, down from $916.6 million in FY2001, but a significant increase from $526.9 million in FY2000.
- 5FASL experienced net income of $23.8 million in FY2002, a decrease from $65.2 million in FY2001, and a net loss of $3.6 million in FY2000.
- 6Significant capital expenditures are noted for FASL's facilities (JV2 and JV3), with commitments of approximately $116 million for equipment purchases as of March 31, 2002.
- 7The filing lists numerous agreements and exhibits, including those related to mergers, stock purchases, intellectual property, debt instruments, and joint ventures with companies like NexGen, Lattice Semiconductor, Fujitsu, and Intel.