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Texas Instruments Incorporated
Reconciliation of Non-GAAP Financial Measures
On January 26, 2009, we held a publicly webcast conference call with analysts to discuss our fourth-quarter and annual 2008 earnings that included discussion of non-GAAP financial measures. The tables below provide a reconciliation of the non-GAAP items to our fourth-quarter and annual 2008 results prepared in accordance with GAAP. We included the non-GAAP financial measures, which excluded the impact of restructuring charges on our results, to provide investors additional insight into our underlying business conditions and results.
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES
(Millions of dollars, except share and per-share amounts) |
 |
|
| |
For the three
months ended
Dec. 31, 2008 |
|
|
| Net Income as reported |
$107 |
| Pre-tax restructuring charges |
254 |
| Tax impact of restructuring charges |
(89) |
|
|
| Net income excluding restructuring charges |
$272 |
|
|
|
|
| Average diluted shares outstanding |
1,289 |
|
|
|
|
Diluted earnings per common share excluding
restructuring charges |
$.21 |
|
|
|
|
| Diluted earnings per common share as reported |
$.08 |
|
|
|
|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES
(Millions of dollars, except share and per-share amounts) |
|
|
| |
For the three
months ended
Dec. 31, 2008 |
|
|
| Pre-tax restructuring charges |
$254 |
| Tax impact of restructuring charges |
(89) |
|
|
| After-tax restructuring charges |
$165 |
|
|
|
|
| Average diluted shares outstanding |
1,289 |
|
|
|
|
Earnings per share impact of restructuring
charges |
$.13 |
| Diluted earnings per common share as reported |
$.08 |
|
|
Diluted earnings per common share excluding
restructuring charges |
$.21 |
|
|
|
|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES
(Millions of dollars, except share and per-share amounts) |
|
|
|
|
| |
For the three
months ended
Dec. 31, 2008 |
|
For the
year ended
Dec. 31, 2008 |
|
|
|
|
| Operating profit as reported |
$ 51 |
|
$ 2,437 |
| Pre-tax restructuring charges |
254 |
|
254 |
|
|
|
|
| Operating profit excluding restructuring charges |
305 |
|
2,691 |
|
|
|
|
|
|
|
|
|
|
|
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| Revenue |
2,491 |
|
12,501 |
Operating profit percentage of revenue
excluding restructuring charges |
12.2% |
|
21.5% |
Wireless Segment
(Millions of dollars) |
|
|
| |
For the
year ended
Dec. 31, 2008 |
|
|
| GAAP as reported |
|
| Operating profit as reported |
$347 |
| |
|
| Revenue |
3,383 |
| |
|
| Operating profit percentage of revenue as reported |
10.3% |
| |
|
| Non-GAAP measure |
|
| Operating profit as reported |
$347 |
| Pre-tax restructuring charges |
130 |
|
|
| Operating profit excluding restructuring charges |
477 |
|
|
|
|
| |
|
| Revenue |
3,383 |
| |
|
Operating profit percentage of revenue excluding
restructuring charges |
14.1% |
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