GlobalFoundries Results Presentation Deck
Unaudited reconciliation of Net Income to
Adjusted EBITDA
(Unaudited, in millions USD)
Net Income for the period
Depreciation and amortization
Finance expense
Finance Income
Income tax (expense) benefit
Share-based compensation
Restructuring charges (¹)
Labor optimizaton program
Divestiture gains and associated
expenses, legal settlements and
transaction expenses(²)
Adjusted EBITDA (1)(3)(4) (5)
Adjusted EBITDA margin
(1)(4)(5)
Q3
$5
415
28
ΝΑ
22
29
T
2
4
$505
29.7%
2021
Q4
$43
419
28
ΝΑ
26
55
5
8
$584
31.6%
Q1
$178
408
29
ΝΑ
29
54
$698
36.0%
Note:
(1) Includes $3.1 million of share-based compensation in Q4 2022.
(2) Activity for the year ended December 31, 2022, relates to the gain on the sale of our East Fishkill business.
Q2
$264
411
26
ΝΑ
30
53
I
$784
39.3%
2022
Q3
$336
395
28
(17)
19
32
$793
38.2%
Q4
$668
409
28
(26)
8
43
94
T
(403)
$821
39.1%
Q1
$254
343
31
(32)
23
31
5
$655
35.6%
2023
Q2
$237
340
34
(34)
28
44
19
$668
36.2%
Q3
$249
366
37
(40)
(6)
44
17
$667
36.0%
(3) Reflects changes to adjusted EBITDA definition discussed in more detailed elsewhere in this earnings presentation.
(4) Includes interest income of $1.0 million in Q1 2022 and $7.0 million in Q2 2022. Had these numbers been included, our adjusted EBITDA and adjusted EBITDA margin would have been, $697 million and 35.9% for Q1 2022, and $777 million and 39.0% for Q2
2022, respectively.
(5) Adjusted EBITDA and related margin are Non-IFRS measures. See "IFRS to Non-IFRS Reconciliation" for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure. See "Financial Measures (Non-IFRS)" for a discussion of
why we believe these Non-IFRS measures are useful.
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