AMD · 10-K · 2025A · Full report

Outstanding Indebtedness and Credit Capacity

ADVANCED MICRO DEVICES INC · 2026-02-04 · Importance 77 · Surprise 82

Aggregate principal debt rose to $3.3 billion as of December 27, 2025 from $1.8 billion a year earlier, with $874 million of short-term debt and $2.3 billion of long-term debt. Interest expense increased to $131 million in 2025 from $92 million in 2024, driven by issuance of $1.5 billion of 4.212% and 4.319% notes in March 2025. AMD maintains a $3.0 billion unsecured revolving credit facility expiring April 29, 2027 (undrawn) and a $3.0 billion commercial paper program (no commercial paper outstanding at year-end). The company recorded $285 million of proceeds from employee equity plan issuances and used $1.5 billion of net cash received from debt issuance, net of repayments, during 2025.

Key facts

Aggregate principal amount of total debt as of December 27, 2025 was $3.3 billion, compared to $1.8 billion as of December 28, 2024.
In March 2025 AMD issued $1.5 billion in aggregate principal amount of 4.212% Notes and 4.319% Notes, contributing to an increase in interest expense.
Interest expense for 2025 was $131 million, an increase of $39 million from $92 million in 2024, primarily due to the issuance of $1.5 billion in notes in March 2025.
As of December 27, 2025, aggregate principal debt consisted of $874 million of short-term debt and $2.3 billion of long-term debt.
AMD has a commercial paper program to issue unsecured commercial paper notes up to $3.0 billion maximum, with maturities up to 397 days; no commercial paper was outstanding as of December 27, 2025.

Impact estimates

metric	direction	stage	expected	basis
liability	negative	realized	-1.9%	Aggregate principal amount of total debt as of December 27, 2025 was $3.3 billion, compared to $1.8 billion as of December 28, 2024.
net_income	negative	realized	-0.1%	Interest expense for 2025 was $131 million, an increase of $39 million from $92 million in 2024, primarily due to the issuance of $1.5…
liability	negative	realized	—	As of December 27, 2025, aggregate principal debt consisted of $874 million of short-term debt and $2.3 billion of long-term debt.