Exhibit 12
Texas Instruments Incorporated and Subsidiaries
Computation of Ration of Earnings to Fixed Charges
(Millions of dollars)
2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||
Earnings: | |||||||||||||||||
Income from continuing operations before income tax | $ | 2,955 | $ | 4,551 | $ | 2,017 | $ | 2,481 | $ | 3,692 | |||||||
Equity method investments (gains) and losses | (5 | ) | (1 | ) | 4 | 9 | (10 | ) | |||||||||
Add: | |||||||||||||||||
Fixed charges (from below) | 54 | 15 | 16 | 23 | 24 | ||||||||||||
Amortization of capitalized interest | 3 | 4 | 4 | 4 | 6 | ||||||||||||
Distributed income from equity investees | 11 | 1 | 5 | 1 | — | ||||||||||||
Total earnings | $ | 3,018 | $ | 4,570 | $ | 2,046 | $ | 2,518 | $ | 3,712 | |||||||
Fixed Charges | |||||||||||||||||
Total gross interest on debt (expensed) (a) | $ | 48 | $ | — | $ | — | $ | — | $ | 1 | |||||||
Amortization of debt premium and debt issuance costs | (6 | ) | — | — | — | — | |||||||||||
Estimated interest element of rental and lease expense | 12 | 15 | 16 | 23 | 23 | ||||||||||||
Total fixed charges | $ | 54 | $ | 15 | $ | 16 | $ | 23 | $ | 24 | |||||||
Ratio of earnings to fixed charges | 55.9 | 304.8 | 127.9 | 109.5 | 154.7 | ||||||||||||
(a) No capitalized interest was recognized in 2011. | |||||||||||||||||