Freescale Semiconductor Announces Fourth Quarter and Full-Year

Freescale Semiconductor Announces Fourth Quarter and Full-Year 2013 Results


Freescale Semiconductor, Ltd.
Reconciliation of Non-GAAP Measures
(Unaudited)

	Three Months Ended								Twelve Months Ended
(in millions, except per share amounts)	Dec 31, 2013			Sep 27, 2013		Dec 31, 2012			Dec 31, 2013			Dec 31, 2012

Adjusted operating earnings	$	174		$	174	$	91		$	616		$	504
Amortization expense for acquired intangible assets (b)		3			3		3			13			13
Non-cash share-based compensation expense (c)		12			12		12			48			43
Reorganization of business and other (g)		14			2		20			24			(15	)
Operating earnings	$	145		$	157	$	56		$	531		$	463


Adjusted net earnings (loss)	$	50		$	51	$	(37	)	$	116		$	(19	)
Amortization expense for acquired intangible assets (b)		3			3		3			13			13
Non-cash share-based compensation expense (c)		12			12		12			48			43
Fair value adjustment on interest rate derivatives (d)		-			-		-			(1	)		17
Deferred and non-current tax impact (e)		4			10		(38	)		23			(7	)
Loss on extinguishment or modification of long-term debt (f)		135			1		1			217			32
Reorganization of business and other (g)		14			2		20			24			(15	)
Net (loss) earnings	$	(118	)	$	23	$	(35	)	$	(208	)	$	(102	)

Adjusted earnings (loss) per common share:
Basic	$	0.19		$	0.20		($0.15	)	$	0.45			($0.08	)
Diluted (a)	$	0.19		$	0.20		($0.15	)	$	0.45			($0.08	)

Weighted average common shares outstanding:
Basic		258			258		249			256			248
Diluted		262			261		251			259			251

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