%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 50.00 31.60 Td (*PC Client Group and Data Center Group microprocessors and chipsets) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 683.5 m 426.5 683.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 683.5 m 561.5 683.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 738.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 728.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 718.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.00 708.33 Td (Intel Corporation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 698.17 Td (2200 Mission College Blvd.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 688.17 Td (Santa Clara, CA) Tj ET Q q 0 0 0 rg BT 116.71 688.17 Td ( 95054-1549) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET BT /F3 14.00 Tf ET q 0 0 0 rg BT 155.55 621.25 Td (CFO Commentary on ) Tj ET Q q 0 0 0 rg BT 289.45 621.25 Td (Third-Quarter) Tj ET Q q 0 0 0 rg BT 377.85 621.25 Td ( 2013 Results) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 50 587.5720703125 m 100.666015625 587.5720703125 l s q 0 0 0 rg BT 50.00 589.45 Td (Summary) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 575.05 Td (Third quarter revenue of $13.5B was up 5% sequentially and in line with our expectations. ) Tj ET Q q 0 0 0 rg BT 488.00 575.05 Td (The worldwide ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 560.65 Td (PC supply chain saw a small increase in inventory levels in the third quarter as customers continued to ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 546.25 Td (build inventory of Haswell based PCs but inventory levels are still being managed well below historical ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 531.85 Td (averages. Gross mar) Tj ET Q q 0 0 0 rg BT 147.41 531.85 Td (gin of 62% was up 4 points from the second quarter and 1 point higher than ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 517.45 Td (expectations. ) Tj ET Q q 0 0 0 rg BT 115.76 517.45 Td (The increase from the second quarter was as a result of lower platform* unit costs, higher ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 503.05 Td (platform* revenue and lower platform* write-of) Tj ET Q q 0 0 0 rg BT 280.70 503.05 Td (fs. In addition, factory start-up costs came down in the ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 488.65 Td (third quarter as spending on process engineers was reclassified from cost of sales to R&D. Operating ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 474.25 Td (income for the third quarter was $3.5B with earnings per share of $0.58. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 447.85 Td (\(All forecasts refer to the midpoint of the forecast ranges.\) ) Tj ET Q q 0 0 0 rg BT 332.67 447.85 Td (W) Tj ET Q q 0 0 0 rg BT 343.04 447.85 Td (e are forecasting revenue of $13.7B for the ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 433.45 Td (fourth quarter) Tj ET Q q 0 0 0 rg BT 115.82 433.45 Td (, up 2% from the third quarter) Tj ET Q q 0 0 0 rg BT 258.97 433.45 Td (, which is at the lower end of the historical seasonal range. ) Tj ET Q q 0 0 0 rg BT 542.66 433.45 Td (The ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 419.05 Td (fourth quarter forecast reflects the caution we are seeing in the order patterns of our customers and their ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 404.65 Td (desire to keep inventory levels lean.) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 222.61 404.65 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 225.39 404.65 Td (W) Tj ET Q q 0 0 0 rg BT 235.75 404.65 Td (e expect fourth quarter gross mar) Tj ET Q q 0 0 0 rg BT 394.47 404.65 Td (gin to decrease by 1 point to 61% ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 390.25 Td (as we increase 14nm factory spending.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 363.85 Td (The third quarter 2013 results when compared to the third quarter from a year ago were the following:) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 349.45 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 349.45 Td (Revenue of $13.5B was flat from a year ago) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 335.05 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 335.05 Td (Gross mar) Tj ET Q q 0 0 0 rg BT 135.44 335.05 Td (gin of 62.4% was down 0.9 points from 63.3%) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 320.65 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 320.65 Td (Operating income of $3.5B was down 9% from $3.8B) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 306.25 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 306.25 Td (Net income of $3.0B was down 1% from $3.0B) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 291.85 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 291.85 Td (Earnings per share of $0.58 was flat from a year ago) Tj ET Q /GS0 gs q 85.69 0 0 59.00 429.00 687.02 cm /I1 Do Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.05 772.60 Td (Page 2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 31.60 Td (*PC Client Group and Data Center Group microprocessors and chipsets) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 50 739.0220703125 m 151.77734375 739.0220703125 l s q 0 0 0 rg BT 50.00 740.90 Td (Third Quarter) Tj ET Q q 0 0 0 rg BT 124.78 740.90 Td ( 2013) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 714.50 Td (Revenue) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (Revenue of $13.5B was up 5% sequentially and flat from a year ago. PC and Data Center platform* ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 685.70 Td (volumes were up 2% when compared to the second quarter) Tj ET Q q 0 0 0 rg BT 332.91 685.70 Td (. Platform* average selling prices were up 1% ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 671.30 Td (when compared to the second quarter) Tj ET Q q 0 0 0 rg BT 228.93 671.30 Td (. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 656.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 656.90 Td (The PC Client Group had revenue of $8.4B, up 4% from the second quarter with platform volumes ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 642.50 Td (up 2% and flat platform average selling prices. ) Tj ET Q q 0 0 0 rg BT 313.14 642.50 Td (Y) Tj ET Q q 0 0 0 rg BT 320.60 642.50 Td (ear over year) Tj ET Q q 0 0 0 rg BT 382.74 642.50 Td (, PC Client Group revenue was down ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 628.10 Td (3% with platform volume down 4% and platform average selling prices up 1%. On a year on year ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 613.70 Td (basis, desktop platform volume was down 5% and desktop platform average selling prices were up ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 599.30 Td (6%. On a year on year basis, notebook platform volume was down 3% and notebook platform ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 584.90 Td (average selling prices were down 3%. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 570.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 570.50 Td (The Data Center Group had revenue of $2.9B, up 6% from the second quarter with platform ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 556.10 Td (volumes up 5% and platform average selling prices up 2%. ) Tj ET Q q 0 0 0 rg BT 371.81 556.10 Td (Y) Tj ET Q q 0 0 0 rg BT 379.27 556.10 Td (ear over year) Tj ET Q q 0 0 0 rg BT 441.41 556.10 Td (, Data Center Group ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 541.70 Td (revenue was up 12% with platform volume up 5% and platform average selling prices were up ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 527.30 Td (8%.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 512.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 512.90 Td (The other Intel architecture operating segments had revenue of $1.1B, up 13% from the second ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 498.50 Td (quarter) Tj ET Q q 0 0 0 rg BT 119.32 498.50 Td (. ) Tj ET Q q 0 0 0 rg BT 124.87 498.50 Td (Y) Tj ET Q q 0 0 0 rg BT 132.34 498.50 Td (ear over year) Tj ET Q q 0 0 0 rg BT 194.47 498.50 Td (, the other Intel architecture operating segments' revenue was down 9%. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 484.10 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 484.10 Td (The software and services operating segments had revenue of $621M, up 2% from the second ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 469.70 Td (quarter) Tj ET Q q 0 0 0 rg BT 119.32 469.70 Td (. ) Tj ET Q q 0 0 0 rg BT 124.87 469.70 Td (Y) Tj ET Q q 0 0 0 rg BT 132.34 469.70 Td (ear over year) Tj ET Q q 0 0 0 rg BT 194.47 469.70 Td (, the software and services operating segments revenue was up 6%. ) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 443.30 Td (Gr) Tj ET Q q 0 0 0 rg BT 64.44 443.30 Td (oss Margin) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 428.90 Td (Gross mar) Tj ET Q q 0 0 0 rg BT 99.44 428.90 Td (gin dollars were $8.4B, up $0.9B compared to the second quarter) Tj ET Q q 0 0 0 rg BT 411.70 428.90 Td (. Gross mar) Tj ET Q q 0 0 0 rg BT 470.14 428.90 Td (gin of 62.4% was ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 414.50 Td (4.1 points higher than the second quarter and up 1.4 points when compared to the midpoint of the Outlook ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (provided on July 17th.) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 50 372.100390625 m 428.73828125 372.100390625 l s q 0 0 0 rg BT 50.00 373.70 Td (Gross Mar) Tj ET Q q 0 0 0 rg BT 100.78 373.70 Td (gin Reconciliation: Q213 to Q313 \(58.3% to 62.4%, up 4.1 points\)) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 359.30 Td ([note: point attributions are approximate] ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 344.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 344.90 Td (+ 1.0 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.77 344.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 344.90 Td (Lower platform* unit costs) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 330.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 330.50 Td (+ 1.0 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.77 330.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 330.50 Td (Lower platform* write-of) Tj ET Q q 0 0 0 rg BT 281.07 330.50 Td (fs \(lower pre-qualification product costs and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 316.10 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 316.10 Td (higher sell-through of previously non-qualified units\)) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 301.70 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 301.70 Td (+ 0.5 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.77 301.70 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 301.70 Td (Higher platform* average selling prices) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 287.30 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 287.30 Td (+ 0.5 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.77 287.30 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 287.30 Td (Higher platform* volume) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 272.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 272.90 Td (+ 0.5 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.77 272.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 272.90 Td (Lower factory start-up costs) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 258.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 258.50 Td (+ 0.5 point: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 144.77 258.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 258.50 Td (Miscellaneous) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 50 230.50039062500002 m 549.494140625 230.50039062500002 l s q 0 0 0 rg BT 50.00 232.10 Td (Gross Mar) Tj ET Q q 0 0 0 rg BT 100.78 232.10 Td (gin Reconciliation: Q313 Outlook to Q313 \(61% +/- couple points to 62.4%, up 1.4 points\)) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 217.70 Td ([note: point attributions are approximate]) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 203.30 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 203.30 Td (+ 1.0 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.77 203.30 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 203.30 Td (Higher platform* average selling prices) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 188.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 188.90 Td (+ 1.0 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.77 188.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 188.90 Td (Lower platform* unit costs) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 174.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 174.50 Td (+ 0.5 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.77 174.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 174.50 Td (Miscellaneous) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 160.10 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 160.10 Td (- 1.0 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 142.00 160.10 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 160.10 Td (Higher platform* write-of) Tj ET Q q 0 0 0 rg BT 283.07 160.10 Td (fs ) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 50 132.10039062500005 m 438.734375 132.10039062500005 l s q 0 0 0 rg BT 50.00 133.70 Td (Gross Mar) Tj ET Q q 0 0 0 rg BT 100.78 133.70 Td (gin Reconciliation: Q312 to Q313 \(63.3% to 62.4%, down 0.9 point\)) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 119.30 Td (When comparing to the third quarter from a year ago gross mar) Tj ET Q q 0 0 0 rg BT 354.01 119.30 Td (gin was down 0.9 point as higher factory ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 104.90 Td (start-up costs were mostly of) Tj ET Q q 0 0 0 rg BT 188.42 104.90 Td (fset by higher platform* average selling prices and lower platform* unit ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 90.50 Td (costs.) Tj ET Q endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.05 772.60 Td (Page 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 31.60 Td (^^ Cash and cash equivalents, short-term investments, and marketable debt instruments included intrading assets) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 740.90 Td (Spending) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 726.50 Td (Spending for R&D and MG&A) Tj ET Q q 0 0 0 rg BT 201.33 726.50 Td ( was $4.7B, flat from the second quarter and down ~$100M from the ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 712.10 Td (Outlook provided in July) Tj ET Q q 0 0 0 rg BT 169.55 712.10 Td (. R&D and MG&A) Tj ET Q q 0 0 0 rg BT 261.55 712.10 Td ( as a percentage of revenue was 35%, down from the second ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 697.70 Td (quarter) Tj ET Q q 0 0 0 rg BT 83.32 697.70 Td (. Depreciation was $1.7B, in line with expectations. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 671.30 Td (Restructuring and asset impairment char) Tj ET Q q 0 0 0 rg BT 243.72 671.30 Td (ges in the third quarter were $124M. ) Tj ET Q q 0 0 0 rg BT 422.12 671.30 Td (These char) Tj ET Q q 0 0 0 rg BT 474.21 671.30 Td (ges were a result ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 656.90 Td (of several announced management actions to reduce workforce, exit certain businesses and close facilities ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 642.50 Td (in response to the current business environment and to better align resources.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (Amortization of acquisition related intangibles was $74M.) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 589.70 Td (Other) Tj ET Q q 0 0 0 rg BT 80.44 589.70 Td ( Income Statement Items) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 575.30 Td (Gains and losses on equity investments and interest and other income was a net gain of $420M, compared ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 560.90 Td (to a $26M net loss in the second quarter and our Outlook of a net gain of approximately $400M. ) Tj ET Q q 0 0 0 rg BT 515.02 560.90 Td (The ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 546.50 Td (higher net gain relative to the second quarter was driven primarily by the sale of our equity investment in ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (Clearwire. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 505.70 Td (The provision for taxes in the third quarter was at a 24.8% tax rate, down from our previous expectations ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 491.30 Td (of 26%.) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 464.90 Td (Balance Sheet and Cash Flow Items) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 450.50 Td (On the balance sheet, total cash investments^^ ended the quarter at $19.1B, up $1.8B from the second ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 83.32 436.10 Td (. $8.4B of the total $19.1B total cash investments^^ is held by U.S. subsidiaries. Cash flow from ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 421.70 Td (operations in the third quarter was $5.7B.) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 249.29 421.70 Td ( ) Tj ET Q BT /F2 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 252.29 421.70 Td (During the third quarter) Tj ET Q q 0 0 0 rg BT 366.11 421.70 Td (, we paid $1.1B in dividends, purchased ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 407.30 Td ($2.9B in capital assets and repurchased $0.5B in stock. ) Tj ET Q q 0 0 0 rg BT 317.06 407.30 Td (T) Tj ET Q q 0 0 0 rg BT 323.55 407.30 Td (otal inventories were flat.) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 380.90 Td (Other) Tj ET Q q 0 0 0 rg BT 80.44 380.90 Td ( Items) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 366.50 Td (The total number of employees was up approximately 1K from the second quarter at 107K. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (Diluted shares outstanding decreased by 6M shares from the second quarter and by 53M shares from the ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 325.70 Td (third quarter a year ago.) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.05 772.60 Td (Page 4) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 50 739.0220703125 m 137.345703125 739.0220703125 l s q 0 0 0 rg BT 50.00 740.90 Td (Q4 2013 Outlook) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 726.50 Td (Intel) Tj ET Q q 0 0 0 rg BT 75.32 726.50 Td (s Business Outlook for the fourth quarter does not include the ef) Tj ET Q q 0 0 0 rg BT 383.38 726.50 Td (fect of any business combinations, ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 712.10 Td (asset acquisitions, divestitures, or other investments that may be completed after October 15th. ) Tj ET Q q 0 0 0 rg BT 507.66 712.10 Td (The ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 697.70 Td (midpoint of the forecast ranges will be referred to when making comparisons to specific periods. ) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 668.90 Td (Revenue) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 654.50 Td (Revenue is expected to be $13.7B, plus or minus $500M in the fourth quarter) Tj ET Q q 0 0 0 rg BT 420.93 654.50 Td (. ) Tj ET Q q 0 0 0 rg BT 426.72 654.50 Td (The midpoint of this range ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (is up 2% from the third quarter) Tj ET Q q 0 0 0 rg BT 197.97 640.10 Td (. ) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 613.70 Td (Gr) Tj ET Q q 0 0 0 rg BT 64.44 613.70 Td (oss Margin) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 599.30 Td (Gross mar) Tj ET Q q 0 0 0 rg BT 99.44 599.30 Td (gin in the fourth quarter is expected to be 61%, plus or minus a couple points, down 1.4 points ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 584.90 Td (from the third quarter) Tj ET Q q 0 0 0 rg BT 152.97 584.90 Td (.) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 50 556.900390625 m 486.482421875 556.900390625 l s q 0 0 0 rg BT 50.00 558.50 Td (Gross Mar) Tj ET Q q 0 0 0 rg BT 100.78 558.50 Td (gin Reconciliation: Q313 to Q413 Outlook \(62.4% to 61% +/- a couple points\)) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td ([note: point attributions are approximate] ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 529.70 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 529.70 Td (- 0.5 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 142.00 529.70 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 529.70 Td (Higher 14nm factory spending) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 515.30 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 515.30 Td (- 0.5 point:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 142.00 515.30 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 158.00 515.30 Td (Miscellaneous) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 488.90 Td (Spending) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 474.50 Td (Spending for R&D and MG&A) Tj ET Q q 0 0 0 rg BT 201.33 474.50 Td ( in the third quarter is expected to be approximately $4.7B, flat from the ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (third quarter) Tj ET Q q 0 0 0 rg BT 108.98 460.10 Td (. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 433.70 Td (Depreciation is forecasted to be approximately $1.7B, flat from the third quarter) Tj ET Q q 0 0 0 rg BT 434.21 433.70 Td (.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 407.30 Td (Restructuring and asset impairment char) Tj ET Q q 0 0 0 rg BT 243.72 407.30 Td (ges are forecasted to be approximately $100M.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 380.90 Td (Amortization of acquisition-related intangibles is forecasted to be approximately $70M.) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 354.50 Td (Other) Tj ET Q q 0 0 0 rg BT 80.44 354.50 Td ( Income Statement Items) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (Gains and losses from equity investments and interest and other income are expected to be approximately ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 325.70 Td (zero, compared to a net gain of $420M in the third quarter) Tj ET Q q 0 0 0 rg BT 328.58 325.70 Td (. ) Tj ET Q q 0 0 0 rg BT 334.36 325.70 Td (The expected decrease relative to the third ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 311.30 Td (quarter is driven by the gain on the sale of our equity investment in Clearwire that occurred in the third ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 296.90 Td (quarter) Tj ET Q q 0 0 0 rg BT 83.32 296.90 Td (. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 270.50 Td (The tax rate for the fourth quarter is expected to be 25%.) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 50 230.22207031250002 m 119.01171875 230.22207031250002 l s q 0 0 0 rg BT 50.00 232.10 Td (2013 Outlook) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 217.70 Td (The Outlook for full year 2013 does not include the ef) Tj ET Q q 0 0 0 rg BT 309.71 217.70 Td (fect of any acquisitions, divestitures or similar ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 203.30 Td (transactions that may be completed after October 15th. ) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 50.00 176.90 Td (Balance Sheet and Cash Flow Items) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 162.50 Td (Capital spending for 2013 now forecasted to be $10.8B plus or minus $300M. ) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.05 772.60 Td (Page 5) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 50 739.0220703125 m 114.9921875 739.0220703125 l s q 0 0 0 rg BT 50.00 740.90 Td (Risk Factors) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 726.50 Td (The above statements and any others in this document that refer to plans and expectations for the ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 712.10 Td (fourth quarter) Tj ET Q q 0 0 0 rg BT 115.82 712.10 Td (, the year and the future are forward-looking statements that involve a number of risks and ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 697.70 Td (uncertainties. ) Tj ET Q q 0 0 0 rg BT 117.09 697.70 Td (W) Tj ET Q q 0 0 0 rg BT 127.46 697.70 Td (ords such as anticipates, expects, intends, plans, believes, seeks, estimates, ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 683.30 Td (may) Tj ET Q q 0 0 0 rg BT 75.21 683.30 Td (, will, should and their variations identify forward-looking statements. Statements that refer to ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 668.90 Td (or are based on projections, uncertain events or assumptions also identify forward-looking statements. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 654.50 Td (Many factors could af) Tj ET Q q 0 0 0 rg BT 155.41 654.50 Td (fect Intel) Tj ET Q q 0 0 0 rg BT 201.72 654.50 Td (s actual results, and variances from Intel) Tj ET Q q 0 0 0 rg BT 398.64 654.50 Td (s current expectations regarding ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (such factors could cause actual results to dif) Tj ET Q q 0 0 0 rg BT 261.38 640.10 Td (fer materially from those expressed in these forward-looking ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 625.70 Td (statements. Intel presently considers the following to be the important factors that could cause actual ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 611.30 Td (results to dif) Tj ET Q q 0 0 0 rg BT 109.78 611.30 Td (fer materially from the company) Tj ET Q q 0 0 0 rg BT 269.05 611.30 Td (s expectations. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 596.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 596.90 Td (Demand could be dif) Tj ET Q q 0 0 0 rg BT 186.75 596.90 Td (ferent from Intel's expectations due to factors including changes in business ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 582.50 Td (and economic conditions; customer acceptance of Intel) Tj ET Q q 0 0 0 rg BT 353.23 582.50 Td (s and competitors) Tj ET Q q 0 0 0 rg BT 440.98 582.50 Td ( products; supply ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 568.10 Td (constraints and other disruptions af) Tj ET Q q 0 0 0 rg BT 254.42 568.10 Td (fecting customers; changes in customer order patterns including ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 553.70 Td (order cancellations; and changes in the level of inventory at customers. Uncertainty in global ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 539.30 Td (economic and financial conditions poses a risk that consumers and businesses may defer purchases ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 524.90 Td (in response to negative financial events, which could negatively af) Tj ET Q q 0 0 0 rg BT 405.01 524.90 Td (fect product demand and other ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 510.50 Td (related matters.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 496.10 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 496.10 Td (Intel's results, including revenue, gross mar) Tj ET Q q 0 0 0 rg BT 294.23 496.10 Td (gin, expenses and interest and other) Tj ET Q q 0 0 0 rg BT 465.03 496.10 Td (, would likely be ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 481.70 Td (adversely af) Tj ET Q q 0 0 0 rg BT 144.08 481.70 Td (fected in the event of widespread financial and business disruption on account of a ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 467.30 Td (default by the U.S. on U.S. government obligations and/or a prolonged failure to maintain ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 452.90 Td (significant U.S. government operations.) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 438.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 438.50 Td (Intel operates in intensely competitive industries that are characterized by a high percentage of ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 424.10 Td (costs that are fixed or dif) Tj ET Q q 0 0 0 rg BT 205.41 424.10 Td (ficult to reduce in the short term and product demand that is highly ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 409.70 Td (variable and dif) Tj ET Q q 0 0 0 rg BT 161.08 409.70 Td (ficult to forecast. Revenue and the gross mar) Tj ET Q q 0 0 0 rg BT 375.46 409.70 Td (gin percentage are af) Tj ET Q q 0 0 0 rg BT 475.51 409.70 Td (fected by the ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 395.30 Td (timing of Intel product introductions and the demand for and market acceptance of Intel's ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 380.90 Td (products; actions taken by Intel's competitors, including product of) Tj ET Q q 0 0 0 rg BT 406.88 380.90 Td (ferings and introductions, ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 366.50 Td (marketing programs and pricing pressures and Intel) Tj ET Q q 0 0 0 rg BT 336.59 366.50 Td (s response to such actions; and Intel) Tj ET Q q 0 0 0 rg BT 512.56 366.50 Td (s ability ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 352.10 Td (to respond quickly to technological developments and to incorporate new features into its ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 337.70 Td (products. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 323.30 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 323.30 Td (The gross mar) Tj ET Q q 0 0 0 rg BT 154.43 323.30 Td (gin percentage could vary significantly from expectations based on capacity ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 308.90 Td (utilization; variations in inventory valuation, including variations related to the timing of ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 294.50 Td (qualifying products for sale; changes in revenue levels; segment product mix; the timing and ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 280.10 Td (execution of the manufacturing ramp and associated costs; start-up costs; excess or obsolete ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 265.70 Td (inventory; changes in unit costs; defects or disruptions in the supply of materials or resources; ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 251.30 Td (product manufacturing quality/yields; and impairments of long-lived assets, including ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 236.90 Td (manufacturing, assembly/test and intangible assets. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 222.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 222.50 Td (The tax rate expectation is based on current tax law and current expected income. ) Tj ET Q q 0 0 0 rg BT 479.94 222.50 Td (The tax rate may ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 208.10 Td (be af) Tj ET Q q 0 0 0 rg BT 109.43 208.10 Td (fected by the jurisdictions in which profits are determined to be earned and taxed; changes in ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 193.70 Td (the estimates of credits, benefits and deductions; the resolution of issues arising from tax audits ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 179.30 Td (with various tax authorities, including payment of interest and penalties; and the ability to realize ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 164.90 Td (deferred tax assets. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 150.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 150.50 Td (Gains or losses from equity securities and interest and other could vary from expectations ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 136.10 Td (depending on gains or losses on the sale, exchange, change in the fair value or impairments of debt ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 121.70 Td (and equity investments; interest rates; cash balances; and changes in fair value of derivative ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 107.30 Td (instruments. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 92.90 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 92.90 Td (Intel's results could be af) Tj ET Q q 0 0 0 rg BT 205.24 92.90 Td (fected by adverse economic, social, political and physical/infrastructure ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 78.50 Td (conditions in countries where Intel, its customers or its suppliers operate, including military ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 64.10 Td (conflict and other security risks, natural disasters, infrastructure disruptions, health concerns and ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 49.70 Td (fluctuations in currency exchange rates. ) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.05 772.60 Td (Page 6) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 740.70 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 740.70 Td (Expenses, particularly certain marketing and compensation expenses, as well as restructuring and ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 726.30 Td (asset impairment char) Tj ET Q q 0 0 0 rg BT 191.08 726.30 Td (ges, vary depending on the level of demand for Intel's products and the level ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 711.90 Td (of revenue and profits. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 697.50 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 697.50 Td (Intel) Tj ET Q q 0 0 0 rg BT 111.32 697.50 Td (s results could be af) Tj ET Q q 0 0 0 rg BT 206.42 697.50 Td (fected by the timing of closing of acquisitions and divestitures. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 68.00 683.10 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 683.10 Td (Intel's results could be af) Tj ET Q q 0 0 0 rg BT 205.24 683.10 Td (fected by adverse ef) Tj ET Q q 0 0 0 rg BT 301.30 683.10 Td (fects associated with product defects and errata ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 668.70 Td (\(deviations from published specifications\), and by litigation or regulatory matters involving ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 654.30 Td (intellectual property) Tj ET Q q 0 0 0 rg BT 182.18 654.30 Td (, stockholder) Tj ET Q q 0 0 0 rg BT 243.69 654.30 Td (, consumer) Tj ET Q q 0 0 0 rg BT 295.86 654.30 Td (, antitrust, disclosure and other issues, such as the ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 639.90 Td (litigation and regulatory matters described in Intel's SEC reports. ) Tj ET Q q 0 0 0 rg BT 400.09 639.90 Td (An unfavorable ruling could ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 625.50 Td (include monetary damages or an injunction prohibiting Intel from manufacturing or selling one or ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 611.10 Td (more products, precluding particular business practices, impacting Intel) Tj ET Q q 0 0 0 rg BT 432.89 611.10 Td (s ability to design its ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 86.00 596.70 Td (products, or requiring other remedies such as compulsory licensing of intellectual property) Tj ET Q q 0 0 0 rg BT 520.43 596.70 Td (. ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 567.90 Td (A) Tj ET Q q 0 0 0 rg BT 58.00 567.90 Td ( detailed discussion of these and other factors that could af) Tj ET Q q 0 0 0 rg BT 339.03 567.90 Td (fect Intel) Tj ET Q q 0 0 0 rg BT 385.34 567.90 Td (s results is included in Intel) Tj ET Q q 0 0 0 rg BT 520.32 567.90 Td (s SEC ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 50.00 553.50 Td (filings, including the company) Tj ET Q q 0 0 0 rg BT 199.98 553.50 Td (s most recent reports on Form 10-Q and Form 10-K. ) Tj ET Q BT /F1 9.00 Tf ET endstream endobj 15 0 obj <> /View <>>>>> endobj 16 0 obj <> /View <>>>>> endobj 17 0 obj <> endobj 18 0 obj <> endobj 19 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;