EX-12 2 txn-12312013xexhibit12.htm EXHIBIT 12 TXN - 12.31.2013 - Exhibit 12


Exhibit 12
Texas Instruments Incorporated and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(Millions of dollars)

 
 
 
2013
 
2012
 
2011
 
2010
 
2009
EARNINGS:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income tax
 
 
$
2,754

 
$
1,935

 
$
2,955

 
$
4,551

 
$
2,017

Equity method investments (gains) and losses
 
 
(6
)
 
(17
)
 
(5
)
 
(1
)
 
4

Add:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges (from below)
 
 
105

 
99

 
54

 
15

 
16

Amortization of capitalized interest
 
 
2

 
2

 
3

 
4

 
4

Distributed income from equity investees
 
 
11

 
16

 
11

 
1

 
5

Total earnings
 
 
$
2,866

 
$
2,035

 
$
3,018

 
$
4,570

 
$
2,046

 
 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total gross interest on debt (expensed) (a)
 
 
$
104

 
$
104

 
$
48

 
$
—

 
$
—

Amortization of debt premium and debt issuance costs
 
 
(9
)
 
(18
)
 
(6
)
 
—

 
—

Estimated interest element of rental and lease expense
 
 
10

 
13

 
12

 
15

 
16

Total fixed charges
 
 
$
105

 
$
99

 
$
54

 
$
15

 
$
16

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
 
27.3

 
20.6

 
55.9

 
304.8

 
127.9

(a) Capitalized interest was immaterial for 2013, 2012 and 2011.