GlobalFoundries Inc. has responded to the U.S. Securities and Exchange Commission (SEC) regarding comments on its financial disclosures. The SEC's Division of Corporation Finance had provided feedback on GlobalFoundries' Form 20-F for the fiscal year ended December 31, 2023, and Form 6-K furnished on May 7, 2024. The semiconductor manufacturer acknowledged the SEC's comments and committed to revising its future financial disclosures to address the concerns raised. These revisions will include re-titling certain non-IFRS measures to reflect adjustments, providing a reconciliation of Non-IFRS EBITDA margin to the most directly comparable IFRS measure, detailing intermediate causes of changes in operating results, and disclosing inventory write-downs and reversals. GlobalFoundries will implement these changes starting with its earnings release for the second fiscal quarter ended June 30, 2024, and in subsequent filings, including the annual report for the fiscal year ended December 31, 2024. The company's CFO, John Hollister, signed the letter to the SEC, which also included contacts for the CEO, Audit Committee Chair, Chief Legal Officer, and Chief Accounting Officer.

GlobalFoundries Inc. has responded to the U.S. Securities and Exchange Commission (SEC) regarding comments on its financial disclosures. The SEC's Division of Corporation Finance had provided feedback on GlobalFoundries' Form 20-F for the fiscal year ended December 31, 2023, and Form 6-K furnished on May 7, 2024. The semiconductor manufacturer acknowledged the SEC's comments and committed to revising its future financial disclosures to address the concerns raised. These revisions will include re-titling certain non-IFRS measures to reflect adjustments, providing a reconciliation of Non-IFRS EBITDA margin to the most directly comparable IFRS measure, detailing intermediate causes of changes in operating results, and disclosing inventory write-downs and reversals. GlobalFoundries will implement these changes starting with its earnings release for the second fiscal quarter ended June 30, 2024, and in subsequent filings, including the annual report for the fiscal year ended December 31, 2024. The company's CFO, John Hollister, signed the letter to the SEC, which also included contacts for the CEO, Audit Committee Chair, Chief Legal Officer, and Chief Accounting Officer.