Advanced Micro Devices` 2016 Loss Less Than Reported

by Dramelin 8:01 AM 0 comments

The analysts work tirelessly to uncover red flags hidden in the footnotes and make our models the best in the business.
Non-operating expenses are unusual charges that don?t appear on the income statement because they are bundled in other line items.
That breaks down into:1,042 income statement adjustments with a total value of $111 billion1,016 balance sheet adjustments with a total value of $668 billion393 valuation adjustments with a total value of $780 billionIn particular, analyst Hunter Gray found an unusual item in Advanced Micro Devices? (AMD) 10-K.
Like many firms, Advanced Micro Devices has non-operating expenses hidden in operating earnings.
What We Accomplished YesterdayFigure 1 shows the work the analysts did yesterday and over the entirety of this filing season so far.
This adjustment removes that non-operating expense and reduces AMD?s pre-tax operating loss by $340 million.