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Page 12 SUPPLEMENTAL RECONCILIATIONS OF GAAP ACTUALS TO NON-GAAP ACTUALS Set forth below are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to "Explanation of Non-GAAP Measures" in this document for a detailed explanation of the adjustment made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. ($ in Millions, except per share amounts) GAAP NET REVENUE Dec 31, 2016 Three Months Ended Oct 1, 2016 16,374 15,778 Dec 26, 2015 14,914 Twelve Months Ended Dec 31, Dec 26, 2016 2015 59,387 55,355 Deferred revenue write-down â â â 99 â NON-GAAP NET REVENUE 16,374 15,778 14,914 59,486 55,355 GAAP GROSS MARGIN 10,105 9,983 9,590 36,191 34,679 â â â 64 â Deferred revenue write-down, net of cost of sales Inventory valuation Amortization of acquisition-related intangibles NON-GAAP GROSS MARGIN GAAP GROSS MARGIN PERCENTAGE Deferred revenue write-down, net of cost of sales Inventory valuation Amortization of acquisition-related intangibles NON-GAAP GROSS MARGIN PERCENTAGE GAAP R&D plus MG&A SPENDING â â â 387 â 232 235 72 937 343 10,337 10,218 9,662 37,579 35,022 61.7% â% â% 1.4% 63.1% 63.3% â% â% 1.5% 64.8% 64.3% â% â% 0.5% 64.8% 60.9% â% 0.7% 1.6% 63.2% 5,438 5,075 5,237 â â â NON-GAAP R&D plus MG&A SPENDING 5,438 5,075 5,237 21,037 20,058 GAAP OPERATING INCOME 4,526 4,462 4,299 12,874 14,002 Deferred revenue write-down, net of cost of sales â â â 64 â Inventory valuation â â â 387 â Amortization of acquisition-related intangibles 273 309 139 1,231 608 Restructuring and other charges 100 372 (13) 1,886 354 Other acquisition-related charges 21,137 62.6% â% â% 0.7% 63.3% (100) 20,058 â â â â 100 â NON-GAAP OPERATING INCOME 4,899 5,143 4,425 16,542 14,964 GAAP NET INCOME 3,562 3,378 3,613 10,316 11,420 â â â 64 â Other acquisition-related charges Deferred revenue write-down, net of cost of sales â â â 387 â Amortization of acquisition-related intangibles 273 309 139 1,231 608 Restructuring and other charges 100 372 (13) 1,886 354 Other acquisition-related charges Income tax effect â (70) â (173) â (12) Inventory valuation NON-GAAP NET INCOME 100 (745) â (189) 3,865 3,886 3,727 13,239 12,193 0.73 0.69 0.74 2.12 2.33 Deferred revenue write-down, net of cost of sales â â â 0.01 â Inventory valuation â â â 0.08 â 0.06 0.06 0.03 0.25 0.13 GAAP DILUTED EARNINGS PER COMMON SHARE Amortization of acquisition-related intangibles
