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ASML Announces 2012 Third-Quarter Results In Line With Guidance

Stocks in this article: ASML

ASML – Reconciliation U.S. GAAP – IFRS 1,2

Net income   Three months ended,     Nine months ended,
Sep 30,   Sep 25, Sep 30,   Sep 25,
2012 2011 2012 2011
(in millions EUR)                    
Net income based on U.S. GAAP 274.7 355.2 848.6 1,182.3
Development expenditures (see Note 1) 49.0 (8.6) 123.7 (28.0)
Share-based payments (see Note 2) 0.2 (0.4) 0.4 (0.6)
Reversal of write-downs (see Note 3) (0.4) (1.8) 6.8 1.2
Income taxes (see Note 4)   (0.9)   5.7       2.0   22.1
Net income based on IFRS 322.6 350.1 981.5 1,177.0
Shareholders’ equity Sep 30, Jul 1, Apr 1, Dec 31, Sep 25,
2012 2012 2012 2011 2011
(in millions EUR)                    
Shareholders’ equity based on U.S. GAAP 6,905.7 3,595.5 3,612.0 3,444.2 3,284.2
Development expenditures (see Note 1) 356.6 308.7 267.3 233.0 205.8
Share-based payments (see Note 2) 4.1 4.0 3.7 2.7 1.1
Reversal of write-downs (see Note 3) 14.0 14.4 6.5 7.2 3.8
Income taxes (see Note 4)   35.0   36.4   31.4   32.7   28.5
Equity based on IFRS 7,315.4 3,959.0 3,920.9 3,719.8 3,523.4

Notes to the reconciliation from U.S. GAAP to IFRS

Note 1 Development expenditures

Under IFRS, ASML applies IAS 38, “Intangible Assets”. In accordance with IAS 38, ASML capitalizes certain development expenditures that are amortized over the expected useful life of the related product generally ranging between one and three years. Amortization starts when the developed product is ready for volume production.

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