What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to formally disclose Advanced Micro Devices, Inc.'s (AMD) results of operations and financial condition for the second quarter ended June 29, 2003, through an accompanying press release.

What are non-GAAP financial measures and why does AMD use them?

Non-GAAP financial measures are financial metrics that exclude certain items from standard GAAP (Generally Accepted Accounting Principles) reporting. AMD uses them, such as Pro Forma Non-GAAP Consolidated Statement of Operations and EBITDA, because management believes they offer a clearer view of the company's underlying operational performance, exclude unusual or infrequent events like restructuring charges, and allow for better comparison with other companies in the industry.

Are the non-GAAP measures presented by AMD considered equivalent to GAAP measures?

No, AMD explicitly states that its non-GAAP measures, including EBITDA and Pro Forma EBITDA, are not a substitute for GAAP measures like net income or cash flow. Investors should use them as supplemental information and understand that their calculation may differ from other companies and they do not account for all factors that affect cash flows.

Where can I find the detailed financial results and reconciliations?

The detailed financial results and the reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are provided within the press release attached as Exhibit 99.1 to this 8-K filing.

AMD 8-K SEC Disclosure — Jul 16, 2003

Summary

Advanced Micro Devices, Inc. (AMD) filed an 8-K on July 16, 2003, to disclose its second-quarter 2003 results of operations and financial condition. The report primarily serves to furnish a press release detailing these results. A key aspect of the disclosure is the use of non-GAAP financial measures, including Pro Forma Non-GAAP Consolidated Statement of Operations and EBITDA, which management believes offer valuable insights into the company's underlying operational performance and facilitate comparisons with peers. These non-GAAP measures exclude restructuring charges and, in the case of EBITDA, adjustments for interest, taxes, depreciation, and amortization. Investors should note that while AMD presents these non-GAAP figures to provide a clearer view of continuing operations and comparability, they are not substitutes for GAAP measures like net income or cash flow. The company explicitly states that its calculation of EBITDA and Pro Forma EBITDA may differ from other companies in the industry and should not be viewed as an alternative to GAAP financial metrics. The furnished press release, attached as Exhibit 99.1, contains the detailed financial information and reconciliations of these non-GAAP measures to their GAAP counterparts.

Key Highlights

1AMD announced its second-quarter 2003 results of operations and financial condition via an 8-K filing.
2The filing includes a press release (Exhibit 99.1) with detailed financial information.
3AMD utilizes and discloses non-GAAP financial measures, including Pro Forma Non-GAAP Consolidated Statement of Operations and EBITDA.
4These non-GAAP measures are presented to provide insight into underlying operating results and facilitate peer comparisons.
5Restructuring charges are excluded from the Pro Forma Non-GAAP results.
6EBITDA calculations exclude interest income/expense, income tax, depreciation, and amortization.
7The company cautions investors that its non-GAAP measures may not be consistent with those of other companies and are not substitutes for GAAP financial metrics.

ADVANCED MICRO DEVICES INC 8-K Report (Jul 16, 2003)

Summary

Key Highlights

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