Broadcom Reports First Quarter 2014 Results

 

BROADCOM CORPORATION

Unaudited Schedule of Selected GAAP to Non-GAAP Adjustments

(In millions)




Three Months Ended


March 31,


December 31,


March 31,


2014


2013


2013







Product revenue

$

1,984



$

2,064



$

1,962


GAAP cost of product revenue

1,004



1,026



988


GAAP product gross profit

$

980



$

1,038



$

974


GAAP product gross margin

49.4

%


50.3

%


49.6

%













GAAP cost of product revenue

$

1,004



$

1,026



$

988


Adjustments:






Stock-based compensation and related payroll taxes

(6)



(6)



(7)


Amortization of purchased intangible assets and step-up of acquired inventory

(50)



(42)



(44)


Non-GAAP cost of product revenue

$

948



$

978



$

937














Product revenue

$

1,984



$

2,064



$

1,962


Non-GAAP cost of product revenue

948



978



937


Non-GAAP product gross profit

$

1,036



$

1,086



$

1,025


Non-GAAP product gross margin

52.2

%


52.6

%


52.2

%













GAAP research and development and selling, general and administrative expense

$

821



$

815



$

794


Adjustments:






Stock-based compensation and related payroll taxes

(115)



(113)



(135)


Non-GAAP research and development and selling, general and administrative expense

$

706



$

702



$

659



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