AMD Investor Day Presentation Deck
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Shares (millions) (1)
Basic Shares
Dilutive impacts from:
Employee Equity Grants (2)
75 million share Warrant (3)
Diluted Shares (without 2026 Convertible Notes)
2026 Convertible Notes - GAAP (4)
Diluted Shares (with 2026 Convertible Notes) - GAAP
2026 Convertible Notes - Non-GAAP (4)
Diluted Shares (with 2026 Convertible Notes) - Non-GAAP
2019
Actual
1,091
22
7
1,120
1,120
89
1,209
2020
Actual
1,184
20
I
1,204
3
1,207
24
1,228
2021
Actual
1,213
16
1,229
1,229
1,229
The table above provides actual share count for FY'19, FY'20, and FY'21 that may be used when calculating GAAP and non-GAAP diluted earnings per share for respective periods.
(1) Share counts are weighted average shares.
(2) The dilutive impact of employee equity grants is based on the Treasury Stock method and is dependent upon the average stock price during the period. The FY'19, FY'20, and FY'21 average stock price
was $29.77, $65.05, and $100.04, respectively.
(3) The dilutive impact of the warrant to purchase 75 million shares (Warrant) granted in 2016 to a wholly owned subsidiary of Mubadala Investment Company PJSC, West Coast Hitech L.P. (WCH), in
consideration for limited waiver and rights under the sixth amendment to our Wafer Supply Agreement with GLOBALFOUNDRIES Inc. is based on the Treasury Stock method and is dependent upon the
average stock price during the period. The Warrant was exercised, and common stock shares were issued on February 13, 2019. Therefore, FY'19 includes the dilutive impact through the date of
exercise.
(4) The dilutive impact from the 2.125% Convertible Senior Notes due 2026 (2026 Convertible Notes) is based on the If-Converted method, where the interest costs associated with the 2026 Convertible
Notes are added back to the Net Income and the shares underlying the 2026 Convertible Notes are assumed to be converted and are added to the share count. The impact from the 2026 Convertible
Notes, if dilutive, is included in diluted EPS calculation. For the GAAP computation, the add-back to net income includes cash and non-cash interest expense, while only the cash interest expense is
added back to the non-GAAP net income. The dilutive shares associated with the 2026 Convertible Notes reflect the weighted average shares subject to conversion during each period.
During FY'19, FY'20, and FY'21, 69 million, 28 million, and 3 million shares of the Company's common stock were issued to convert $554 million, $225 million, and $25 million of the outstanding 2026
Convertible Notes, respectively.View entire presentation