| Freescale Semiconductor, Ltd. | ||||||||||||||||||
| Reconciliation of Non-GAAP Measures | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||
| Three Months Ended | Twelve Months Ended | |||||||||||||||||
| (in millions, except per share amounts) |
Dec 31,
2014 |
Oct 3,
2014 |
Dec 31,
2013 |
Dec 31,
2014 |
Dec 31,
2013 |
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| Adjusted gross margin | $ | 521 | $ | 562 | $ | 475 | $ | 2,126 | $ | 1,787 | ||||||||
| Acquisition accounting impact (b) | - | - | - | 1 | - | |||||||||||||
| Gross margin | $ | 521 | $ | 562 | $ | 475 | $ | 2,125 | $ | 1,787 | ||||||||
| Adjusted operating earnings | $ | 211 | $ | 243 | $ | 174 | $ | 848 | $ | 616 | ||||||||
| Acquisition accounting impact (b) | 4 | 4 | 3 | 16 | 13 | |||||||||||||
| Non-cash share-based compensation expense (c) | 17 | 16 | 12 | 67 | 48 | |||||||||||||
| Reorganization of business and other (g) | 12 | 8 | 14 | 37 | 24 | |||||||||||||
| Operating earnings | $ | 178 | $ | 215 | $ | 145 | $ | 728 | $ | 531 | ||||||||
| Adjusted net earnings | $ | 129 | $ | 150 | $ | 50 | $ | 473 | $ | 116 | ||||||||
| Acquisition accounting impact (b) | 4 | 4 | 3 | 16 | 13 | |||||||||||||
| Non-cash share-based compensation expense (c) | 17 | 16 | 12 | 67 | 48 | |||||||||||||
| Fair value adjustment on interest rate derivatives (d) | - | - | - | - | (1 | ) | ||||||||||||
| Deferred and non-current tax impact (e) | 23 | (13 | ) | 4 | 23 | 23 | ||||||||||||
| Loss on extinguishment or modification of long-term debt (f) | 10 | 10 | 135 | 79 | 217 | |||||||||||||
| Reorganization of business and other (g) | 12 | 8 | 14 | 37 | 24 | |||||||||||||
| Net earnings (loss) | $ | 63 | $ | 125 | $ | (118 | ) | $ | 251 | $ | (208 | ) | ||||||
| Adjusted earnings per common share: | ||||||||||||||||||
| Basic | $ | 0.42 | $ | 0.49 | $ | 0.19 | $ | 1.59 | $ | 0.45 | ||||||||
| Diluted (a) | $ | 0.42 | $ | 0.49 | $ | 0.19 | $ | 1.56 | $ | 0.45 | ||||||||
| Weighted average common shares outstanding: | ||||||||||||||||||
| Basic | 304 | 304 | 258 | 298 | 256 | |||||||||||||
| Diluted (a) | 310 | 309 | 262 | 303 | 259 | |||||||||||||
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Freescale Semiconductor Announces Fourth Quarter and Full-Year 2014 Results
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