Summary
Texas Instruments Inc. (TXN) filed an 8-K on October 21, 2013, to report its third-quarter 2013 results and financial condition. The primary purpose of this filing was to furnish a press release detailing these results. Investors should note that the company has provided non-GAAP financial measures, including free cash flow, ratios based on free cash flow, and revenue excluding legacy wireless results. Texas Instruments highlights these non-GAAP measures as offering valuable insights into liquidity, cash generation, and funds available for investor returns, alongside a clearer view of ongoing financial performance by removing the impact of its divested wireless segment.
Key Highlights
- 1Texas Instruments (TXN) reported its third-quarter 2013 financial results via an 8-K filing on October 21, 2013.
- 2The filing incorporates a press release dated October 21, 2013, containing the company's operational and financial performance for Q3 2013.
- 3TXN is presenting non-GAAP financial measures to offer additional insights to investors.
- 4Key non-GAAP metrics highlighted include free cash flow and related ratios, intended to showcase cash-generating ability and liquidity.
- 5The company is also reporting revenue and revenue outlook excluding results from its legacy wireless business.
- 6Texas Instruments states that these non-GAAP measures are supplemental to, and should be considered alongside, GAAP measures.
- 7Reconciliations for all non-GAAP measures to their most directly comparable GAAP measures are provided within the press release.
Frequently Asked Questions
The main purpose of this 8-K filing is to officially report Texas Instruments' third-quarter 2013 results of operations and financial condition, primarily by furnishing the company's press release dated October 21, 2013.
The key non-GAAP financial measures mentioned are free cash flow, various ratios based on free cash flow, and revenue and revenue outlook excluding results from the legacy wireless segment. The company uses these to provide additional insights into its financial performance and cash generation capabilities.
Texas Instruments provides these non-GAAP measures because it believes they offer a better understanding of the company's liquidity, its ability to generate cash, and the amount of cash available for distribution to investors. They also help in analyzing the financial performance by isolating the impact of specific business segments, like excluding legacy wireless results.
The non-GAAP measures are presented as supplemental information and are intended to provide additional insights alongside the comparable GAAP measures. The company explicitly states that these non-GAAP measures are not prepared in accordance with generally accepted accounting principles (GAAP) and provides reconciliations to the most directly comparable GAAP measures within the news release.