INTC · 10-K · 2025A · Full report
Liquidity and Cash Position
INTEL CORP · 2026-01-23 · Importance 89 · Surprise 66
Intel reported total cash and short-term investments of $37,416 million as of December 27, 2025 and total debt of $46,585 million. In the second half of 2025 Intel completed several financing and investing transactions including the Altera divestiture with a retained equity investment and an amendment to its CHIPS Act commercial agreement that accelerated $5.7 billion of funding to the company. During 2025 Intel also received $921 million of net proceeds from the sale of 57.5 million Mobileye Class A shares and $1.8 billion of net cash proceeds from the second phase of its NAND memory business divestiture; the Altera sale generated a $5.6 billion pre-tax gain recognized in interest and other, net. Intel expects to replace or amend a 364‑day $5.0 billion credit facility prior to its January 2026 maturity and maintains other liquidity sources including a $7.0 billion revolving credit facility, a commercial paper program and its shelf registration.
Key facts
- Cash and cash equivalents were $14,265 million as of Dec 27, 2025 and short-term investments were $23,151 million, for total cash and short-term investments of $37,416 million.
- Operating loss was $2,214 million in 2025, representing (4.2)% of revenue, compared to an operating loss of $11,678 million (22.0)% in 2024.
- Income (loss) before taxes was $1,557 million in 2025 and $(11,210) million in 2024.
- Net increase in cash and cash equivalents was $6,463 million in 2025 compared to $1,170 million in 2024.
- Intel expects to replace or amend a 364-day $5.0 billion credit facility prior to its maturity at the end of January 2026.
- In 2025 Intel monetized non-core assets and better aligned capital investments with business objectives as part of a disciplined financial approach.
- Net income (loss) attributable to Intel was $(267) million in 2025, or (0.5)% of revenue; in 2024 it was $(18,756) million, or (35.3)% of revenue.
- Total cash and short-term investments were $22,062 million as of Dec 28, 2024.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +34.1% | Net income (loss) attributable to Intel was $(267) million in 2025, or (0.5)% of revenue; in 2024 it was $(18,756) million, or (35.3)% of… |
| net_income | positive | realized | +23.5% | Income (loss) before taxes was $1,557 million in 2025 and $(11,210) million in 2024. |
| operating_income | positive | realized | +17.4% | Operating loss was $2,214 million in 2025, representing (4.2)% of revenue, compared to an operating loss of $11,678 million (22.0)% in 2024. |
| cash | positive | realized | +2.5% | Net increase in cash and cash equivalents was $6,463 million in 2025 compared to $1,170 million in 2024. |
| cash | positive | realized | +1.6% | Net cash provided by (used for) investing activities was $(14,821) million in 2025 compared to $(18,256) million in 2024. |
| liability | negative | probable | -1.2% | Intel expects to replace or amend a 364-day $5.0 billion credit facility prior to its maturity at the end of January 2026. |
| net_income | positive | realized | +0.7% | Included in 2025 unrealized gains on non-marketable equity investments was $396 million of upward observable price adjustments related to… |
| cash | positive | realized | +0.7% | Net cash provided by operating activities was $9,697 million in 2025 versus $8,288 million in 2024. |
| assets | positive | realized | +0.2% | Included in 2025 unrealized gains on non-marketable equity investments was $396 million of upward observable price adjustments related to… |
| cash | positive | realized | — | Cash and cash equivalents were $14,265 million as of Dec 27, 2025 and short-term investments were $23,151 million, for total cash and… |
| cash | positive | realized | — | In 2025 Intel monetized non-core assets and better aligned capital investments with business objectives as part of a disciplined financial… |
| net_income | positive | realized | — | Diluted earnings (loss) per share attributable to Intel was $(0.06) in 2025 and $(4.38) in 2024. |