Intel Corp (INTC) Files Updated FY09, FY10, FY11 Net Income Data w/ FASB Standards Adaption
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Revenue Growth %: -2.3%
Financial Fact:
Marketing, general and administrative: 1.95B
Today's EPS Names:
LBIX, ESEA, ISS, More
As previously disclosed in our Quarterly Report on Form 10-Q for the quarter ended September 29, 2012, we adopted these amended standards in the first quarter of 2012. These amended standards eliminate the option to present components of other comprehensive income as part of the statement of changes in stockholders’ equity and require that all changes in stockholders’ equity—except investments by, and distributions to, owners—be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The adoption of these amended standards did impact the presentation of other comprehensive income, as we have elected to present two separate but consecutive statements, but did not have an impact on our financial position or results of operations.
The following is a presentation of comprehensive income for the three years ended December 31, 2011:
INTEL CORPORATION
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
| Three Years Ended December 31, 2011 |
|
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| |||
| (In millions) |
| 2011 |
| 2010 |
| 2009 |
| |||
| Net income |
| $ | 12,942 |
| $ | 11,464 |
| $ | 4,369 |
|
| Other comprehensive income, net of tax: |
|
|
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|
|
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| |||
| Change in net unrealized holding gain (loss) on available-for-sale investments |
| (170 | ) | 140 |
| 400 |
| |||
| Change in net deferred tax asset valuation allowance |
| (99 | ) | 57 |
| 146 |
| |||
| Change in net unrealized holding gain (loss) on derivatives |
| (119 | ) | (13 | ) | 92 |
| |||
| Change in net prior service costs |
| 4 |
| (39 | ) | 13 |
| |||
| Change in net actuarial losses |
| (588 | ) | (205 | ) | 135 |
| |||
| Change in net foreign currency translation adjustment |
| (142 | ) | — |
| — |
| |||
| Other comprehensive income (loss) |
| (1,114 | ) | (60 | ) | 786 |
| |||
| Total comprehensive income |
| $ | 11,828 |
| $ | 11,404 |
| $ | 5,155 |
|
The information included in this Current Report on Form 8-K is presented for information purposes only in connection with the reporting change described above and does not amend or restate our audited consolidated financial statements, which were included in our Annual Report on Form 10-K for the year ended December 31, 2011. This Current Report on Form 8-K does not reflect events occurring after we filed our Annual Report on Form 10-K for the year ended December 31, 2011, and does not modify or update the disclosures therein in any way, other than to illustrate the adoption of the amended standards as described above.
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