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BROADCOM CORPORATION | |||||||||||||||||||
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Unaudited Schedule of Selected GAAP to Non-GAAP Adjustments | |||||||||||||||||||
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(In millions) | |||||||||||||||||||
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Three Months Ended |
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Year Ended | ||||||||||||||||
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December 31, |
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September 30, |
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December 31, |
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December 31, | ||||||||||||
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2014 |
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2014 |
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2013 |
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2014 |
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2013 | ||||||||||
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GAAP net income |
$ |
390 |
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$ |
98 |
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$ |
168 |
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$ |
652 |
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$ |
424 |
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Adjustments: |
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Amortization of purchased intangible assets |
45 |
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54 |
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56 |
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214 |
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228 |
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Amortization of acquired inventory step-up and inventory charges related to the exit of the cellular baseband business |
— |
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(7) |
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— |
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27 |
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1 |
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Impairment of long-lived assets |
14 |
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200 |
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— |
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404 |
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511 |
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Settlement costs (gains) |
(4) |
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2 |
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6 |
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16 |
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(69) |
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Other charges (gains), net |
— |
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(1) |
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— |
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(60) |
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25 |
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Restructuring costs, net |
16 |
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114 |
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17 |
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158 |
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29 |
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Other expense (income), net |
3 |
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— |
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— |
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6 |
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(1) |
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Certain income tax expense (benefit) |
(1) |
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1 |
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— |
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(6) |
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(10) |
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Total GAAP to Non-GAAP adjustments |
$ |
73 |
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$ |
363 |
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$ |
79 |
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$ |
759 |
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$ |
714 |
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Non-GAAP net income (including stock-based compensation) |
463 |
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461 |
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|
247 |
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1,411 |
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1,138 |
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Stock-based compensation and related payroll taxes |
99 |
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108 |
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119 |
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444 |
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524 |
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Non-GAAP net income (excluding stock-based compensation) |
$ |
562 |
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$ |
569 |
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$ |
366 |
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$ |
1,855 |
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$ |
1,662 |
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Shares used in calculation - diluted (GAAP and Non-GAAP) |
610 |
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607 |
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581 |
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601 |
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584 |
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Non-GAAP adjustment * |
16 |
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20 |
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25 |
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23 |
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28 |
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Shares used in calculation - diluted (Non-GAAP) (excluding stock-based compensation) |
626 |
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627 |
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606 |
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624 |
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612 |
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GAAP diluted net income per share |
$ |
0.64 |
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$ |
0.16 |
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$ |
0.29 |
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$ |
1.08 |
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$ |
0.73 |
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Non-GAAP diluted net income per share |
$ |
0.76 |
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$ |
0.76 |
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$ |
0.43 |
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$ |
2.35 |
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$ |
1.95 |
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Non-GAAP diluted net income per share (excluding stock-based compensation) |
$ |
0.90 |
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$ |
0.91 |
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$ |
0.60 |
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$ |
2.97 |
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$ |
2.72 |
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*Represents the benefits of compensation costs attributable to future services and not yet recognized in the financial statements that are treated as proceeds assumed to be used to repurchase shares under the GAAP treasury stock method. |
