Exhibit 12
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions of dollars)
| For Three Months Ended March 31, | |||||||||||||||||||||||
| 1999 |
2000 |
2001 |
2002 |
2003 |
2003 |
2004 | |||||||||||||||||
| Earnings: |
|||||||||||||||||||||||
| Income (loss) from continuing operations before income taxes plus fixed charges and amortization of capitalized interest, less interest capitalized. |
$ | 2,205 | $ | 4,702 | $ | (316 | ) | $ | (248 | ) | $ | 1,326 | $ | 175 | $ | 532 | |||||||
| Fixed charges: |
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| Total interest on loans (expensed and capitalized) |
$ | 84 | $ | 98 | $ | 74 | $ | 60 | $ | 41 | $ | 13 | $ | 8 | |||||||||
| Interest attributable to rental and lease expense |
30 | 32 | 33 | 26 | 25 | 6 | 5 | ||||||||||||||||
| Fixed charges |
$ | 114 | $ | 130 | $ | 107 | $ | 86 | $ | 66 | $ | 19 | $ | 13 | |||||||||
| Ratio of earnings to fixed charges |
19.3 | 36.2 | * | * | 20.1 | 9.2 | 40.9 | ||||||||||||||||
| * | The ratio is not meaningful. The coverage deficiency was $334 million in year 2002 and $423 million in year 2001. |