Advanced Micro Devices, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases

Leases

3 Months Ended

Mar. 30, 2019

The Company has entered into operating and finance leases for its corporate office, datacenters and research and development facilities and certain equipment. The leases expire at various dates through 2028, some of which include options to extend the lease for up to 5 years, and some of which include options to terminate the lease within 1 year. For the three months ended March 30, 2019, the Company recorded $13 million of operating lease expense. The Company's finance leases and short-term leases are immaterial.

Supplemental cash flow information related to leases is as follows:



	March 30, 2019
	(In millions)
Cash paid for operating leases included in operating cash flows	$	9
Weighted-average remaining lease term – operating leases	7 years
Weighted-average discount rate – operating leases	6.20		%

Future minimum lease payments under non-cancellable operating lease liabilities are as follows:



	March 30, 2019
	(In millions)
2019 (9 months remaining)	$	41
2020	49
2021	43
2022	40
2023	36
Thereafter	103
Total minimum lease payments	$	312
Less: interest	(61		)
Present value of net minimum lease payments	251
Less: current portion	(38		)
Total	$	213