Q3 2020

Q3 2019

变化    

营业收入           

$

3,817

$

 3,771     

1%

营业利润

$

1,609

$

 1,589

1%

净收入

$

1,353

$

 1,425

(5)%

每股收益

$

1.45

$

 1.49

(3)%

最近连续12个月

Q3 2020

Q3 2020

           Q3 2019

        变化

经营现金流                                                    

$

1,443

$

5,768

           $

7,040

        (18)%

资本支出

$

146

$

600

           $

1,007

        (40)%

自由现金流

$

1,297

$

5,168

           $

6,033

        (14)%

自由现金流占营业收入百分比

37.6%

           40.9%

最近连续12个月

Q3 2020

Q3 2020 

Q3 2019

变化

分派股息

$

825

$

3,330

$

2,903

15%

股票回购

$

15

$

3,027

$

4,480

(32)%

总现金回报

$

840

$

6,357

$

7,383

(14)%

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

(Millions of dollars, except share and per-share amounts)

For Three Months Ended

September 30,

2020

2019

Revenue

$  3,817

$

3,771

Cost of revenue (COR)

1,364

1,325

Gross profit

2,453

2,446

Research and development (R&D)

386

379

Selling, general and administrative (SG&A)

407

399

Acquisition charges

51

79

Operating profit

1,609

1,589

Other income (expense), net (OI&E)

27

34

Interest and debt expense

49

43

Income before income taxes

1,587

1,580

Provision for income taxes

234

155

Net income

$ 1,353

$

1,425

Diluted earnings per common share

$ 1.45

$

1.49

Average shares outstanding (millions):

Basic

917

935

Diluted

929

950

Cash dividends declared per common share

$  .90

$

.77

Supplemental Information

(Quarterly, except as noted)

Provision for income taxes is based on the following:

Operating taxes (calculated using the estimated

annual effective tax rate)

$ 231

$

257

Discrete tax items

3

(102)

Provision for income taxes (effective taxes)

$ 234

$

155

Annual operating tax rate

14%

16%

Effective tax rate

15%

10%

A portion of net income is allocated to unvested restricted stock units (RSUs)

on which we pay dividend equivalents. Diluted EPS is calculated using the following:

Net income

$ 1,353

$

1,425

Income allocated to RSUs

(6)

(8)

Income allocated to common stock for diluted EPS

$ 1,347

$

1,417

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)

September 30,

2020

2019

Assets

Current assets:

Cash and cash equivalents

$

2,822       

$

3,893

Short-term investments

2,696

1,174

Accounts receivable, net of allowances of ($12) and ($13)

1,392

1,342

Raw materials

192

175

Work in process

959

955

Finished goods

921

910

Inventories

2,072

2,040

Prepaid expenses and other current assets

277

264

Total current assets

9,259

8,713

Property, plant and equipment at cost

5,698

5,683

Accumulated depreciation

(2,508)

(2,365)

Property, plant and equipment

3,190

3,318

Long-term investments

47

298

Goodwill

4,362

4,362

Acquisition-related intangibles

189

390

Deferred tax assets

299

257

Capitalized software licenses

133

77

Overfunded retirement plans

227

106

Other long-term assets

501

471

Total assets

$

18,207

$

17,992

Liabilities and stockholders’ equity

Current liabilities:

Current portion of long-term debt

$

550

$

499

Accounts payable

411

397

Accrued compensation

656

609

Income taxes payable

44

58

Accrued expenses and other liabilities

524

444

Total current liabilities

2,185

2,007

Long-term debt

6,247

5,302

Underfunded retirement plans

103

123

Deferred tax liabilities

69

49

Other long-term liabilities

1,278

1,526

Total liabilities

9,882

9,007

Stockholders’ equity:

Preferred stock, $25 par value. Authorized – 10,000,000 shares

Participating cumulative preferred – None issued

—

—

Common stock, $1 par value. Authorized – 2,400,000,000 shares

Shares issued – 1,740,815,939

1,741

1,741

Paid-in capital

2,257

2,058

Retained earnings

41,305

39,674

Treasury common stock at cost

Shares: September 30, 2020 – 823,174,578; September 30,

2019 – 805,637,804  

(36,643)

(34,045)

Accumulated other comprehensive income (loss), net of taxes (AOCI)

(335)

(443)

Total stockholders’ equity

8,325

8,985

Total liabilities and stockholders’ equity

$

18,207

$

17,992