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







GAAP net income

$

165



$

168



$

191


Adjustments:






Stock-based compensation and related payroll taxes

121



119



142


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

59



56



59


Impairment of long-lived assets

25





10


Settlement costs

2



6




Other gains, net

(52)






Restructuring costs, net

5



17




Other income, net

(2)






Certain income tax benefit

(5)





(2)


Total GAAP to Non-GAAP adjustments

153



198



209


Non-GAAP net income

$

318



$

366



$

400








Shares used in calculation - diluted (GAAP)

590



581



585


Non-GAAP adjustment *

28



25



29


Shares used in calculation - diluted (Non-GAAP)

618



606



614








GAAP diluted net income per share

$

0.28



$

0.29



$

0.33


Non-GAAP diluted net income per share

$

0.51



$

0.60



$

0.65



*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.


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