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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.
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| TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
| (Millions of dollars) |
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| 1Q vs. 4Q Five-Year Sequential Growth Rate Average |
|
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| Revenue as reported (GAAP): |
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|
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% |
|
|
|
|
|
| |
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| Plus National Semiconductor (NSC) revenue not included above: |
| |
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For Three Months
Ended Dec. 31 |
|
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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 |
|
|
|
| |
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| 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 |
|
|
|
| |
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| Revenue as adjusted (Non-GAAP): |
| |
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|
For Three Months
Ended Dec. 31 |
|
|
For Three Months
Ended Mar. 31 |
|
Sequential
Growth Rate |
|
|
|
|
|
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| 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% |
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|
Five-Year Sequential Growth
Rate Average Excluding 1Q09 * |
|
|
|
|
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|
0% |
|
|
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