Form 10-Q: Quarterly Report for Q1 2021

Key insights

5 takeaways · ~2 min read

01
AMD's income tax provision significantly increased to $89 million in Q1 2021 from $6 million in Q1 2020, with effective tax rates rising from 3.3% to 13.8% due to higher U.S. income.
02
Total inventories for AMD increased to $1,653 million as of March 27, 2021, up from $1,399 million on December 26, 2020, driven primarily by a rise in work-in-process inventory.
03
AMD's total property and equipment, net, grew to $681 million by March 27, 2021, from $641 million at the end of 2020, with equipment and construction in progress seeing increases.
04
Accrued liabilities slightly decreased to $1,779 million as of March 27, 2021, from $1,796 million on December 26, 2020, mainly due to a reduction in accrued compensation and benefits.
05
AMD's stockholders and Xilinx's stockholders approved the proposed all-stock acquisition of Xilinx by AMD on April 7, 2021, with the merger expected to close by the end of calendar year 2021, pending regulatory approval.