Dan,
I think we have gone over this....
$5.5 Billion per year is still way above what they spent prior to Athlon pushing them, and somewhat above what is recognized each quarter as capitol costs.
5.5B is definitely much less than what Intel spent in 2001 and 2000.
From 1998 to 2000, Intel has spent, respectively, 3.6B, 3.4B and 6.7B (numbers rounded). While CapEx is higher than in years 1998 and 1999, CapEx has declined when compared to years 2000 and 2001.
When considering what "PRO Forma" adjustments should be made when reviewing earnings, consider that $4.1 Billion in capital spending was recognized as costs this year, while $7.3 Billion was actually spent
Again, capital expenditures are not "expensed" in the period in which they were incurred. Instead, CapEx, or additions to PP&E, are depreciated over its expected life expectancy. |
