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"intersegment_eliminations_operating_income": 232000000, "total_consolidated_revenue": 25526000000, "total_consolidated_operating_income_loss": -3477000000 } }, { "label": "Trailing twelve months ended June 27, 2026", "period_start": "2025-06-29", "period_end": "2026-06-27", "period_type": "trailing_twelve_months", "basis": "Fiscal 2025 full-year figures from the FY2025 10-K plus the six months ended June 27, 2026 less the six months ended June 28, 2025, both from the Q2 FY2026 10-Q.", "source_accession": "0000050863-26-000011 and 0000050863-26-000157", "net_revenue": 57032000000, "gross_profit": 22017000000, "research_and_development": 13193000000, "operating_income_loss": -77000000, "net_income_loss_including_noncontrolling_interests": -11192000000, "net_income_loss_attributable_to_intel": -11289000000, "net_cash_provided_by_operating_activities": 14936000000, "additions_to_property_plant_and_equipment_investing": -12105000000, "free_cash_flow": 2831000000 } ], "notes": [ "Template: the standard operating-company (industrial) template - revenue, cost of sales, gross profit, R&D, MG&A, restructuring, operating income, net income split between Intel and non-controlling interests, diluted EPS and share counts; cash and short-term investments, total debt, total assets and equity; operating cash flow, capital expenditures and free cash flow. Intel is an integrated semiconductor designer and manufacturer, so that template fits, and it is extended with the operating-segment revenue and operating income split (Intel Products, made up of the client and data-center segments, versus Intel Foundry) plus revenue by customer billing region, because Intel's economics are unintelligible without seeing that the products business is profitable while the foundry business loses money.", "Reported dollar amounts are stated in this file in actual dollars. Every statement in both filings is scaled in millions and every share count in those statements is likewise in millions; the figures below have been multiplied out accordingly.", "Annual coverage: the FY2025 10-K (accession 0000050863-26-000011) presents three years of income statement and cash flow (fiscal 2025, 2024 and 2023) but only two balance sheet dates (December 27, 2025 and December 28, 2024). Fiscal 2023 therefore has no balance sheet here beyond the closing equity balances, which that 10-K's statement of stockholders' equity does present.", "Quarterly coverage: the Q2 FY2026 10-Q (accession 0000050863-26-000157) presents the three and six months ended June 27, 2026 with prior-year comparatives, and cash flows on a six-month basis only. No standalone three-month cash flow statement exists, so none is shown. Intel also issued a Q2 2026 earnings release on July 23, 2026 covering the same quarter; the figures here are taken from the 10-Q, which is the audited-basis filing of record for the period.", "Free cash flow as defined in this file is net cash provided by operating activities less 'Additions to property, plant and equipment' as reported within investing activities. Intel also reports a second line of property, plant and equipment additions inside financing activities (capital purchases made on extended payment terms): $3.0 billion in fiscal 2025, $1.2 billion in fiscal 2024, $1.4 billion in the first half of fiscal 2026 and $2.0 billion in the first half of fiscal 2025. 'free_cash_flow_after_financing_classified_capex' subtracts that second line as well, and is the more conservative measure of what capital spending actually cost in cash.", "'adjusted_free_cash_flow_as_reported_by_intel_non_gaap' is Intel's own non-GAAP measure as reconciled in the FY2025 10-K. It starts from operating cash flow and subtracts capital expenditures net of capital-related government incentives and net partner contributions from the semiconductor co-investment programs, and also subtracts finance lease payments. It is not comparable to the free cash flow figures computed above and is included only because Intel presents it.", "Non-controlling interests are material to Intel and the two profit lines diverge. In fiscal 2025 consolidated net income was a positive $26 million, but $293 million of that belonged to minority partners in the Arizona and Ireland semiconductor co-investment programs, Mobileye and IMS Nanofabrication, leaving a $267 million loss attributable to Intel. Earnings per share is always computed on the amount attributable to Intel.", "Intel paid no dividends in fiscal 2025 or in the first half of fiscal 2026. The dividend was cut to $0.125 per quarter in 2024 and then suspended; dividends declared were $0.38 per share in fiscal 2024 and $0.74 per share in fiscal 2023.", "Fiscal 2025 income before taxes of $1.6 billion was carried almost entirely by items below the operating line: 'Interest and other, net' of $3.3 billion, which included a $5.3 billion gain on divestitures (chiefly the September 2025 sale of 51% of Altera) offset by a $1.8 billion mark-to-market loss on shares held in escrow for the U.S. government. Operating income itself was a loss of $2.2 billion.", "The Q2 fiscal 2026 headline loss is dominated by a single non-operating, non-cash item. Operating income was a positive $1.8 billion - Intel's first positive quarterly operating income in this series - but 'Interest and other, net' was a negative $12.6 billion because of a $12.5 billion loss on the change in fair value of the derivative liability for Escrowed Shares issued to the U.S. Department of Commerce under the CHIPS Act Secure Enclave agreement. The liability is measured against the value of Intel common stock and rises as that value rises. Its carrying value was $15.6 billion at June 27, 2026 against $2.7 billion at December 27, 2025, split between other accrued liabilities and other long-term liabilities. For the first half the corresponding loss was $13.6 billion.", "The first half of fiscal 2026 also includes $4.2 billion of restructuring and other charges, of which $3.9 billion is a non-cash goodwill impairment recognised in the first quarter, substantially all of it against the Mobileye reporting unit following an increase in the discount rate used in the impairment test. Mobileye's recorded goodwill fell to $4.3 billion at June 27, 2026 from $8.2 billion at December 27, 2025, which is the main reason consolidated goodwill fell from $23.9 billion to $20.5 billion.", "In the second quarter of fiscal 2026 Intel bought out the 49% minority interest in the Ireland semiconductor co-investment program for $14.2 billion in cash, funded from existing cash and short-term investments plus a $6.5 billion term loan that was then repaid with $6.5 billion of new senior notes. This is why financing activities show a $14.3 billion partner distribution, $13.0 billion of term-debt issuance and $9.0 billion of repayment in the six-month period, and why total debt rose from $46.6 billion to $50.5 billion while total cash and short-term investments fell from $37.4 billion to $29.7 billion.", "Total debt is stated as short-term debt plus long-term debt and agrees with the liquidity tables in both filings: $50.5 billion at June 27, 2026, $46.6 billion at December 27, 2025 and $50.0 billion at December 28, 2024.", "Segment labels changed between the two filings. The client segment was renamed from Client Computing Group (CCG) in the FY2025 10-K to Client Computing and Physical AI Group (CCPG) in the Q2 FY2026 10-Q; it is the same segment and the field names here follow the filing each figure came from. Separately, Intel recast prior-period segment operating results in the second quarter of 2025 to reflect the expense detail its chief operating decision maker now reviews, and the fiscal 2024 and 2023 segment figures shown here are the recast versions as presented in the FY2025 10-K.", "Intel Foundry's revenue is overwhelmingly intersegment - wafer, substrate and related sales to Intel Products - which is why the intersegment eliminations line is large and negative. Only $307 million of Intel Foundry's fiscal 2025 revenue came from external customers ($159 million in fiscal 2024, $547 million in fiscal 2023).", "The divestiture of 51% of Altera closed on September 12, 2025. Altera's results were reported inside the 'all other' category for all periods through September 11, 2025 and are excluded thereafter, which explains the drop in 'all other' revenue from $1.1 billion in Q2 fiscal 2025 to $0.7 billion in Q2 fiscal 2026.", "Because Intel recorded net losses in every quarterly period shown, potentially dilutive securities were anti-dilutive and excluded, so basic and diluted share counts and earnings per share are identical in those periods. In Q2 fiscal 2026, 70 million such shares were excluded (67 million for the six months).", "Every figure in this file was read from the face of the FY2025 10-K or the Q2 FY2026 10-Q. Where checked against the SEC's XBRL company facts for the same concepts - revenue, operating income, net income, earnings per share, diluted shares, total assets, stockholders' equity, operating cash flow, capital expenditures and cash - the structured data agreed with the filings in every case, so no conflicts had to be resolved." ], "uncertainties": [ "Fiscal 2025 earnings per share of negative $0.06 is a rounding-sensitive figure: a $267 million loss attributable to Intel across 4,530 million weighted-average shares. The 10-K reports it as negative $0.06 and that is what is carried here, but any ratio derived from it will be imprecise.", "Total liabilities is not presented as a subtotal on Intel's balance sheet. The figure here is the sum of total current liabilities, long-term debt and other long-term liabilities, which reconciles to total assets less total stockholders' equity at each date.", "Fiscal 2023 has no balance sheet in the FY2025 10-K. Only the closing equity balances are shown, taken from that filing's statement of stockholders' equity. Total assets, cash, debt and working-capital lines for fiscal 2023 are simply not available from the filings covered here.", "No three-month cash flow statement exists for Q2 fiscal 2026; Intel presents cash flows only year-to-date. Any quarterly free cash flow figure would have to be inferred by subtraction from a first-quarter filing, and is not attempted here.", "The Escrowed Shares derivative liability is a fair-value estimate that moves with the value of Intel common stock, and the $12.5 billion second-quarter charge is the single largest driver of the reported loss. It is reported exactly as filed, but it is a mark-to-market estimate rather than a settled amount, and it would reverse in part if that value declined.", "Intel discloses approximately $1.0 billion accrued at June 27, 2026 for the VLSI patent litigation and states it cannot estimate losses in excess of recorded amounts across several other matters, including claims where alleged damages exceed $2.0 billion. Those contingencies are not reflected in the balance sheet figures beyond the amount already accrued.", "The trailing-twelve-month block is arithmetic performed here by combining the fiscal 2025 full year with the two half-year periods in the 10-Q. It is not a figure Intel reports, and the underlying periods span the Altera divestiture, so the revenue and margin it implies are not on a fully like-for-like basis." ], "company_details": { "Name": "Intel Corp", "Ticker": "INTC", "CIK": "0000050863", "Exchange": "Nasdaq", "State": "California", "Incorporation": "Delaware", "SIC": "3674", "Office": "Manufacturing", "Industry": "Semiconductors & Related Devices" }, "next_filing": { "predicted_date": "2026-08-07", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-27", "form": "10-Q", "accession": "0000050863-26-000157", "fiscal_year_end": "1227", "source": "facts" } }