01—Abstract
Summary
Summary of the 8-K/A filed June 6, 2022. Cited figures are marked; the original filing is the authoritative source.
This 8-K/A filing from Advanced Micro Devices (AMD) provides an amendment to their previous report regarding the acquisition of Xilinx, Inc., which was completed on February 14, 2022.
The primary purpose of this amendment is to include updated pro forma financial information, specifically reflecting a change in AMD's accounting method for the United States Global Intangible Low-Taxed Income (GILTI) tax. This updated pro forma data is presented for informational purposes to give investors a clearer view of the combined company's potential financial performance.
02—Key points
Key Highlights
- Amendment provides updated pro forma financial statements for the combined AMD and Xilinx entity.
- The pro forma statements cover the fiscal year 2021 and the first fiscal quarter of 2022.
- Key update includes the adoption of a new accounting method for U.S. GILTI tax by AMD in Q1 2022.
- This filing incorporates pro forma condensed combined statements of operations for the periods presented.
- The acquisition of Xilinx was officially completed on February 14, 2022.
- Pro forma information is for illustrative purposes and not indicative of actual future results.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K/A filing?
This filing is an amendment to a previous 8-K report to include updated pro forma financial information related to the acquisition of Xilinx. This includes adjustments for a change in AMD's accounting method for GILTI tax and presents combined statements of operations for fiscal year 2021 and Q1 2022.
When was the Xilinx acquisition completed?
The acquisition of Xilinx, Inc. by AMD was completed on February 14, 2022.
What kind of financial information is being provided in this amendment?
The amendment provides unaudited pro forma condensed combined statements of operations for the fiscal year ended December 25, 2021, and for the first fiscal quarter ended March 26, 2022. This information reflects what the combined company's financial performance might have looked like had they been merged during those periods.
Is the pro forma financial information presented here the actual financial results of the combined company?
No, the pro forma financial information is presented for informational purposes only. It does not purport to represent the actual results of operations that AMD and Xilinx would have achieved had they been combined during the periods presented, nor is it intended to project future results of operations for the combined company.
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