Texas Instruments

Texas Instruments Incorporated
Reconciliation of Non-GAAP Financial Measures


On October 22, 2012, we held a publicly webcast conference call with analysts to discuss our third-quarter 2012 business results. In our prepared remarks, we made a non-GAAP reference to TI's free cash flow. The reconciliation for this non-GAAP measure was provided in the body of the earnings release issued earlier in the day.

During the call, we also made a non-GAAP reference to TI's five-year average quarterly sequential growth rate, including revenue reported by National Semiconductor (referred to as Silicon Valley Analog or SVA on the conference call) prior to TI's September 2011 acquisition and excluding revenue associated with TI's baseband products. We provided this non-GAAP measure to give investors additional insight into TI's underlying business conditions and results including or excluding some selected items. The tables below provide a reconciliation of this non-GAAP sequential growth rate to TI's average quarterly sequential growth rate as prepared in accordance with GAAP.


 
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES
(Millions of dollars)
 
1Q vs. 4Q Five-Year Sequential Growth Rate Average
 
Revenue as reported (GAAP):
 
    For Three Months
Ended Dec. 31
    For Three Months
Ended Mar. 31
  Sequential
Growth Rate
2011/2012 $ 3,420   $ 3,121   -9%
2010/2011   3,525     3,392   -4%
2009/2010   3,005     3,205     7%
2008/2009   2,491     2,086   -16%  
2007/2008   3,556     3,272   -8%
Five-Year Sequential Growth
    Rate Average
            -6%
 
 
Plus National Semiconductor (NSC) revenue not included above:
 
    For Three Months
Ended Dec. 31
    For Three Months
Ended Mar. 31
   
2011/2012 $ n/a   $ n/a    
2010/2011   373     358    
2009/2010   345     368    
2008/2009   422     292    
2007/2008   499     453    
 
 
Less Baseband revenue included in Revenue as reported (GAAP):
 
    For Three Months
Ended Dec. 31
    For Three Months
Ended Mar. 31
   
2011/2012 $ 279   $   87    
2010/2011   435     334    
2009/2010   465     424    
2008/2009   464     400    
2007/2008   870     720    
 
 
Revenue as adjusted (Non-GAAP):
 
    For Three Months
Ended Dec. 31
    For Three Months
Ended Mar. 31
  Sequential
Growth Rate
2011/2012 $ 3,141   $ 3,034   -3%
2010/2011   3,463     3,416   -1%
2009/2010   2,885     3,149   9%
2008/2009   2,449     1,978   -19% *
2007/2008   3,185     3,005   -6% 
Five-Year Sequential Growth
    Rate Average
            -4% 
Five-Year Sequential Growth
    Rate Average Excluding 1Q09 *
            0% 
               
 


This website is posted solely for information purposes and is not to be construed either as an offer to sell or the solicitation of an offer to buy any security.