Texas Instruments Incorporated and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(Millions of dollars)

For Years Ended December 31,

2016

2015

2014

2013

2012

Earnings:

Income before income tax

$

4,930

$

4,216

$

3,874

$

2,754

$

1,935

Equity method investments (gains) and losses

(3)

(4)

(3)

(6)

(17)

Add:

Fixed charges (from below)

89

100

107

105

99

Amortization of capitalized interest

1

1

2

2

2

Distributed income from equity investees

—

3

1

11

16

Subtract:

Capitalized interest

1

1

—

—

—

Total earnings

$

5,016

$

4,315

$

3,981

$

2,866

$

2,035

Fixed Charges:

Total gross interest on debt (expensed)

$

86

$

96

$

103

$

104

$

104

Capitalized interest

1

1

—

—

—

Amortization of debt premium and debt issuance costs

(6)

(6)

(9)

(9)

(18)

Estimated interest element of rental and lease expense

8

9

13

10

13

Total fixed charges

$

89

$

100

$

107

$

105

$

99

Ratio of earnings to fixed charges

56.4

43.2

37.2

27.3

20.6