Exhibit 12 (continued) 1998 1999 2000 2001 2002 MAXIM (June Fiscal Year) Sales 560.2 607.0 864.9...
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Exhibit 12 (continued) 1998 1999 2000 2001 2002 MAXIM (June Fiscal Year) Sales 560.2 607.0 864.9 1,576.6 1,025.1 Income Before Taxes 269.9 297.2 425.2 505.0 386.8 -GAAP Income Taxes 91.8 101.0 144.6 170.0 127.7 Net Income 178.1 196.1 280.6 334.9 259.2 +Depreciation and Amortization 15.1 17.6 19.7 90.9 56.3 -Capital Expenditure 109.4 54.3 176.1 336.5 90.4 -Working Capital Investments -18.8 -34.8 -26.2 -235.6 48.4 +Tax Adjustment 83.5 57.7 157.3 148.3 136.8 Operating Cash Flow 186.1 251.9 307.7 473.1 313.4 +Stock Issuance 37.2 51.1 79.3 114.3 109.3 -Stock Purchases 123.1 113.9 257.0 250.7 864.0 -Dividends Paid -Other Itemsa 0.0 0.0 0.0 6.0 0.0 1.2 -2.7 3.7 -248.7 13.5 Net Cash Flow 99.0 191.8 126.2 579.4 -454.9 Cash and Short-Term Investments 322.9 514.7 640.9 1,220.4 765.5 Common Shares Outstanding (Split-Adj) 261.5 271.7 282.8 330.2 320.1 Share Price, Fiscal Year Close (Split-Adj) $15.84 $33.25 $67.94 $44.21 $38.33 MICROSOFT (June Fiscal Year) Sales 14,484.0 19,747.0 22,956.0 25,296.0 28,365.0 Income Before Taxes 7,117.0 11,891.0 14,275.0 11,525.0 11,513.0 -GAAP Income Taxes 2,627.0 4,106.0 4,854.0 3,804.0 3,684.0 Net Income 4,490.0 7,785.0 9,421.0 7,721.0 7,829.0 +Depreciation and Amortization 528.0 483.0 668.0 1,536.0 1,014.0 -Capital Expenditure 656.0 583.0 879.0 1,103.0 770.0 -Working Capital Investments -335.0 1,470.0 182.0 -1,661.0 -3,882.0 +Tax Adjustment 1,527.0 3,232.0 4,054.0 2,504.0 1,784.0 Operating Cash Flow 6,224.0 9,447.0 13,082.0 12,319.0 13,739.0 +Stock Issuance 2,512.0 4,457.0 2,245.0 -Stock Purchases -Dividends Paid -Other Itemsa 2,468.0 2,950.0 4,896.0 1,620.0 6,074.0 1,497.0 6,069.0 28.0 28.0 1,279.0 7,617.0 13.0 3,856.0 Net Cash Flow 4,961.0 3,309.0 6,562.0 0.0 63.0 7,802.0 0.0 2,115.0 7,052.0 Cash and Short-Term Investments 13,927.0 17,236.0 23,798.0 Common Shares Outstanding (Split-Adj) 4,940.0 5,109.0 5,283.0 31,600.0 5,383.0 38,652.0 5,359.0 Share Price, Fiscal Year Close (Split-Adj) $54.19 $90.19 $80.00 $73.00 $54.70 Source: Adapted from Compustat. aOther Items includes long-term investments and acquisitions, extraordinary items, and other adjustments to net income. bOn April 11, 2001, Maxim acquired Dallas Semiconductor Corporation with 41 million shares of stock. Exhibit 12 Selected Financial Data in Millions of Dollars (Except Share Data), 1998-2002 1998 1999 2000 2001 2002 CISCO (July Fiscal Year) Sales 8,458.8 12,154.0 18,928.0 22,293.0 18,915.0 Income Before Taxes 2,302.5 3,316.0 4,343.0 -874.0 2,710.0 -GAAP Income Taxes 952.4 1,220.0 1,675.0 140.0 817.0 Net Income 1,350.1 2,096.0 2,668.0 -1,014.0 1,893.0 +Depreciation and Amortization 327.3 486.0 863.0 2,236.0 1,957.0 -Capital Expenditure 414.8 584.0 1,086.0 2,271.0 2,641.0 -Working Capital Investments -688.7 -937.0 -1,262.0 -5,078.0 -2,829.0 +Tax Adjustment 514.4 919.0 1,348.0 92.0 -92.0 Operating Cash Flow 2,465.7 3,854.0 5,055.0 4,121.0 3,946.0 +Stock Issuance 488.5 740.0 1,564.0 1,262.0 655.0 -Stock Purchases -Dividends Paid -Other Itemsa 0.0 0.0 0.0 0.0 1,854.0 0.0 0.0 0.0 0.0 0.0 2,538.3 4,269.5 3,110.0 4,001.0 -3,002.0 Net Cash Flow 415.9 324.5 3,509.0 1,382.0 5,749.0 Cash and Short-Term Investments 1,691.5 2,016.0 5,525.0 6,907.0 12,656.0 Common Shares Outstanding (Split-Adj) 6,250.3 6,542.0 7,138.0 7.324.0 7,303.0 Share Price, Fiscal Year Close (Split-Adj) $15.96 $31.06 $65.44 $19.22 $13.19 INTEL (December Fiscal Year) Sales 26,273.0 29,389.0 33,726.0 26,539.0 26,764.0 Income Before Taxes 9,137.0 11,228.0 15,141.0 2,183.0 4,204.0 -GAAP Income Taxes 3,069.0 3,914.0 4,606.0 892.0 1,087.0 Net Income 6,068.0 7,314.0 10,535.0 1,291.0 3,117.0 +Depreciation and Amortization 2,807.0 3,186.0 4,807.0 6,052.0 5,042.0 -Capital Expenditure 3,557.0 3,403.0 6,674.0 7,309.0 4,703.0 -Working Capital Investments -31.0 180.0 2,912.0 -1,627.0 -358.0 +Tax Adjustment 285.0 1,015.0 Operating Cash Flow 5,634.0 7,932.0 397.0 6,153.0 -316.0 612.0 1,345.0 4,426.0 +Stock Issuance 2,127.0 543.0 -Stock Purchases -Dividends Paid -Other Itemsa Net Cash Flow 6,785.0 4,612.0 797.0 4,007.0 762.0 4,008.0 681.0 4,014.0 168.0 366.0 470.0 538.0 533.0 3,109.0 -665.0 438.0 -2,301.0 4,162.0 2,035.0 -166.0 -2,273.0 -477.0 1,037.0 Cash and Short-Term Investments 7,626.0 11,788.0 Common Shares Outstanding (Split-Adj) 6,632.0 6,668.0 13,823.0 6,721.0 11,550.0 6,690.0 12,587.0 6,575.0 Share Price, Fiscal Year Close (Split-Adj) $29.64 $41.16 $30.06 $31.45 $15.57 Exhibit 12 (continued) 1998 1999 2000 2001 2002 MAXIM (June Fiscal Year) Sales 560.2 607.0 864.9 1,576.6 1,025.1 Income Before Taxes 269.9 297.2 425.2 505.0 386.8 -GAAP Income Taxes 91.8 101.0 144.6 170.0 127.7 Net Income 178.1 196.1 280.6 334.9 259.2 +Depreciation and Amortization 15.1 17.6 19.7 90.9 56.3 -Capital Expenditure 109.4 54.3 176.1 336.5 90.4 -Working Capital Investments -18.8 -34.8 -26.2 -235.6 48.4 +Tax Adjustment 83.5 57.7 157.3 148.3 136.8 Operating Cash Flow 186.1 251.9 307.7 473.1 313.4 +Stock Issuance 37.2 51.1 79.3 114.3 109.3 -Stock Purchases 123.1 113.9 257.0 250.7 864.0 -Dividends Paid -Other Itemsa 0.0 0.0 0.0 6.0 0.0 1.2 -2.7 3.7 -248.7 13.5 Net Cash Flow 99.0 191.8 126.2 579.4 -454.9 Cash and Short-Term Investments 322.9 514.7 640.9 1,220.4 765.5 Common Shares Outstanding (Split-Adj) 261.5 271.7 282.8 330.2 320.1 Share Price, Fiscal Year Close (Split-Adj) $15.84 $33.25 $67.94 $44.21 $38.33 MICROSOFT (June Fiscal Year) Sales 14,484.0 19,747.0 22,956.0 25,296.0 28,365.0 Income Before Taxes 7,117.0 11,891.0 14,275.0 11,525.0 11,513.0 -GAAP Income Taxes 2,627.0 4,106.0 4,854.0 3,804.0 3,684.0 Net Income 4,490.0 7,785.0 9,421.0 7,721.0 7,829.0 +Depreciation and Amortization 528.0 483.0 668.0 1,536.0 1,014.0 -Capital Expenditure 656.0 583.0 879.0 1,103.0 770.0 -Working Capital Investments -335.0 1,470.0 182.0 -1,661.0 -3,882.0 +Tax Adjustment 1,527.0 3,232.0 4,054.0 2,504.0 1,784.0 Operating Cash Flow 6,224.0 9,447.0 13,082.0 12,319.0 13,739.0 +Stock Issuance 2,512.0 4,457.0 2,245.0 -Stock Purchases -Dividends Paid -Other Itemsa 2,468.0 2,950.0 4,896.0 1,620.0 6,074.0 1,497.0 6,069.0 28.0 28.0 1,279.0 7,617.0 13.0 3,856.0 Net Cash Flow 4,961.0 3,309.0 6,562.0 0.0 63.0 7,802.0 0.0 2,115.0 7,052.0 Cash and Short-Term Investments 13,927.0 17,236.0 23,798.0 Common Shares Outstanding (Split-Adj) 4,940.0 5,109.0 5,283.0 31,600.0 5,383.0 38,652.0 5,359.0 Share Price, Fiscal Year Close (Split-Adj) $54.19 $90.19 $80.00 $73.00 $54.70 Source: Adapted from Compustat. aOther Items includes long-term investments and acquisitions, extraordinary items, and other adjustments to net income. bOn April 11, 2001, Maxim acquired Dallas Semiconductor Corporation with 41 million shares of stock. Exhibit 12 Selected Financial Data in Millions of Dollars (Except Share Data), 1998-2002 1998 1999 2000 2001 2002 CISCO (July Fiscal Year) Sales 8,458.8 12,154.0 18,928.0 22,293.0 18,915.0 Income Before Taxes 2,302.5 3,316.0 4,343.0 -874.0 2,710.0 -GAAP Income Taxes 952.4 1,220.0 1,675.0 140.0 817.0 Net Income 1,350.1 2,096.0 2,668.0 -1,014.0 1,893.0 +Depreciation and Amortization 327.3 486.0 863.0 2,236.0 1,957.0 -Capital Expenditure 414.8 584.0 1,086.0 2,271.0 2,641.0 -Working Capital Investments -688.7 -937.0 -1,262.0 -5,078.0 -2,829.0 +Tax Adjustment 514.4 919.0 1,348.0 92.0 -92.0 Operating Cash Flow 2,465.7 3,854.0 5,055.0 4,121.0 3,946.0 +Stock Issuance 488.5 740.0 1,564.0 1,262.0 655.0 -Stock Purchases -Dividends Paid -Other Itemsa 0.0 0.0 0.0 0.0 1,854.0 0.0 0.0 0.0 0.0 0.0 2,538.3 4,269.5 3,110.0 4,001.0 -3,002.0 Net Cash Flow 415.9 324.5 3,509.0 1,382.0 5,749.0 Cash and Short-Term Investments 1,691.5 2,016.0 5,525.0 6,907.0 12,656.0 Common Shares Outstanding (Split-Adj) 6,250.3 6,542.0 7,138.0 7.324.0 7,303.0 Share Price, Fiscal Year Close (Split-Adj) $15.96 $31.06 $65.44 $19.22 $13.19 INTEL (December Fiscal Year) Sales 26,273.0 29,389.0 33,726.0 26,539.0 26,764.0 Income Before Taxes 9,137.0 11,228.0 15,141.0 2,183.0 4,204.0 -GAAP Income Taxes 3,069.0 3,914.0 4,606.0 892.0 1,087.0 Net Income 6,068.0 7,314.0 10,535.0 1,291.0 3,117.0 +Depreciation and Amortization 2,807.0 3,186.0 4,807.0 6,052.0 5,042.0 -Capital Expenditure 3,557.0 3,403.0 6,674.0 7,309.0 4,703.0 -Working Capital Investments -31.0 180.0 2,912.0 -1,627.0 -358.0 +Tax Adjustment 285.0 1,015.0 Operating Cash Flow 5,634.0 7,932.0 397.0 6,153.0 -316.0 612.0 1,345.0 4,426.0 +Stock Issuance 2,127.0 543.0 -Stock Purchases -Dividends Paid -Other Itemsa Net Cash Flow 6,785.0 4,612.0 797.0 4,007.0 762.0 4,008.0 681.0 4,014.0 168.0 366.0 470.0 538.0 533.0 3,109.0 -665.0 438.0 -2,301.0 4,162.0 2,035.0 -166.0 -2,273.0 -477.0 1,037.0 Cash and Short-Term Investments 7,626.0 11,788.0 Common Shares Outstanding (Split-Adj) 6,632.0 6,668.0 13,823.0 6,721.0 11,550.0 6,690.0 12,587.0 6,575.0 Share Price, Fiscal Year Close (Split-Adj) $29.64 $41.16 $30.06 $31.45 $15.57
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