EX-12 5 txn-ex12_338.htm EX-12 txn-ex12_338.htm

 

Exhibit 12

Texas Instruments Incorporated and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(Millions of dollars)

 

 

 

For Years Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income tax

 

$

4,216

 

 

$

3,874

 

 

$

2,754

 

 

$

1,935

 

 

$

2,955

 

Equity method investments (gains) and

   losses

 

 

(4

)

 

 

(3

)

 

 

(6

)

 

 

(17

)

 

 

(5

)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges (from below)

 

 

100

 

 

 

107

 

 

 

105

 

 

 

99

 

 

 

54

 

Amortization of capitalized interest

 

 

1

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

3

 

Distributed income from equity

   investees

 

 

3

 

 

 

1

 

 

 

11

 

 

 

16

 

 

 

11

 

Subtract:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total earnings

 

$

4,315

 

 

$

3,981

 

 

$

2,866

 

 

$

2,035

 

 

$

3,018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total gross interest on debt (expensed)

 

$

96

 

 

$

103

 

 

$

104

 

 

$

104

 

 

$

48

 

Capitalized interest

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Amortization of debt premium and debt

   issuance costs

 

 

(6

)

 

 

(9

)

 

 

(9

)

 

 

(18

)

 

 

(6

)

Estimated interest element of rental and

   lease expense

 

 

9

 

 

 

13

 

 

 

10

 

 

 

13

 

 

 

12

 

Total fixed charges

 

$

100

 

 

$

107

 

 

$

105

 

 

$

99

 

 

$

54

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

43.2

 

 

 

37.2

 

 

 

27.3

 

 

 

20.6

 

 

 

55.9