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Texas Instruments Incorporated
Reconciliation of Non-GAAP Financial Measures
On September 11, 2012, we held a publicly webcast conference call with analysts to discuss our third-quarter 2012 business outlook. During the call, we made a non-GAAP reference to TI's five-year average quarterly sequential growth rate from the third to fourth quarter, excluding 2008. Consistent with the non-GAAP reconciliations that we provided in second quarter 2012, the non-GAAP sequential growth rates included revenue reported by National Semiconductor prior to TI's September 2011 acquisition and excluded 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 reconciliations of these non-GAAP sequential growth rates to TI's average quarterly sequential growth rate as prepared in accordance with GAAP.
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| 4Q vs. 3Q Five-Year Sequential Growth Rate Average |
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| Revenue as reported (GAAP): |
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For Three Months
Ended Sept. 30 |
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For Three Months
Ended Dec. 31 |
|
Sequential
Growth Rate |
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| 2011 |
$ |
3,466 |
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$ |
3,420 |
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-1% |
| 2010 |
|
3,740 |
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|
3,525 |
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-6% |
| 2009 |
|
2,880 |
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|
3,005 |
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4% |
| 2008 |
|
3,387 |
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|
2,491 |
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-26% |
| 2007 |
|
3,663 |
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|
3,556 |
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-3% |
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Five-Year Sequential
Growth Rate Average |
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-6% |
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| Plus NSC revenue not included above: |
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For Three Months
Ended Sept. 30 |
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For Three Months
Ended Dec. 31 |
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| 2011 |
$ |
315 |
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$ |
n/a |
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| 2010 |
|
401 |
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|
373 |
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| 2009 |
|
314 |
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|
345 |
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| 2008 |
|
466 |
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|
422 |
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| 2007 |
|
472 |
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|
499 |
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| Less Baseband revenue included in Revenue as reported (GAAP): |
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For Three Months
Ended Sept. 30 |
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For Three Months
Ended Dec. 31 |
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| 2011 |
$ |
263 |
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$ |
279 |
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| 2010 |
|
438 |
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|
435 |
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| 2009 |
|
450 |
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|
465 |
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| 2008 |
|
673 |
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|
464 |
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| 2007 |
|
857 |
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|
870 |
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| Revenue as adjusted (Non-GAAP): |
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For Three Months
Ended Sept. 30 |
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For Three Months
Ended Dec. 31 |
|
Sequential
Growth Rate |
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| 2011 |
$ |
3,518 |
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$ |
3,141 |
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-11% |
| 2010 |
|
3,703 |
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|
3,463 |
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-6% |
| 2009 |
|
2,744 |
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|
2,885 |
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5% |
| 2008 |
|
3,180 |
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|
2,449 |
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-23% * |
| 2007 |
|
3,278 |
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|
3,185 |
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-3% |
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Five-Year Sequential
Growth Rate Average |
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-8% |
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Five-Year Sequential
Growth Rate Average
Excluding 4Q08 * |
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-4% |
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