德州仪器公司（TI）发布2022年第二季度财务业绩与股东回报

Q2 2022

Q2 2021

变化

营业收入

$

5,212

$

4,580

14 %

营业利润

$

2,723

$

2,213

23 %

净收入

$

2,291

$

1,931

19 %

每股收益

$

2.45

$

2.05

20 %

最近连续12个月

Q2 2022

Q2 2022

Q2 2021

变化

经营现金流

$

1,768

$

8,697

$

7,539

15 %

资本支出

$

597

$

2,808

$

1,052

167 %

自由现金流

$

1,171

$

5,889

$

6,487

(9) %

自由现金流占营业收入百分比

30.1 %

38.7 %

最近连续12个月

Q2 2022

Q2 2022

Q2 2021

变化

分派股息

$

1,060

$

4,127

$

3,644

13 %

股票回购

$

1,182

$

2,052

$

276

643 %

总现金回报

$

2,242

$

6,179

$

3,920

58 %

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

For Three Months Ended

June 30,

(In millions, except per-share amounts)

2022

2021

Revenue

$

5,212

$

4,580

Cost of revenue (COR)

1,587

1,503

Gross profit

3,625

3,077

Research and development (R&D)

414

391

Selling, general and administrative (SG&A)

422

425

Acquisition charges

—

48

Restructuring charges/other

66

—

Operating profit

2,723

2,213

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

7

73

Interest and debt expense

49

44

Income before income taxes

2,681

2,242

Provision for income taxes

390

311

Net income

$

2,291

$

1,931

Diluted earnings per common share

$

 2.45

$

 2.05

Average shares outstanding:

     Basic

 920

923

     Diluted

 930

937

Cash dividends declared per common share

$

1.15

$

 1.02

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)

$

395

$

322

Discrete tax items

(5)

(11)

Provision for income taxes (effective taxes)

$

390

$

311

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

$

2,291

$

1,931

Income allocated to RSUs

(10)

(7)

Income allocated to common stock for diluted EPS

$

2,281

$

1,924

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

June 30,   

(In millions, except par value)

2022

2021

Assets

Current assets:

     Cash and cash equivalents

$

3,802

$

3,649

     Short-term investments

4,585

3,741

     Accounts receivable, net of allowances of ($9) and ($9)

2,190

1,591

         Raw materials

305

201

         Work in process

1,258

996

         Finished goods

636

659

     Inventories

2,199

1,856

     Prepaid expenses and other current assets

267

340

     Total current assets

13,043

11,177

Property, plant and equipment at cost

8,825

6,235

     Accumulated depreciation

(2,894)

(2,557)

     Property, plant and equipment

5,931

3,678

Goodwill

4,362

4,362

Deferred tax assets

293

326

Capitalized software licenses

82

99

Overfunded retirement plans

296

254

Other long-term assets

716

707

Total assets

$

24,723

$

20,603

Liabilities and stockholders’ equity

Current liabilities:

     Current portion of long-term debt

$

499

$

499

     Accounts payable

712

577

     Accrued compensation

520

531

     Income taxes payable

115

107

     Accrued expenses and other liabilities

714

487

     Total current liabilities

2,560

2,201

Long-term debt

6,745

5,752

Underfunded retirement plans

71

131

Deferred tax liabilities

90

87

Other long-term liabilities

1,165

1,279

Total liabilities

10,631

9,450

Stockholders’ equity:

     Preferred stock, $25 par value. Shares authorized – 10; none issued

—

—

     Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741

1,741

1,741

     Paid-in capital

2,783

2,485

     Retained earnings

48,280

43,846

     Treasury common stock at cost

          Shares: March 31, 2022 – 819; March 31, 2021 – 818

(38,532)

(36,596)

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

(180)

(323)

Total stockholders’ equity

14,092

11,153

Total liabilities and stockholders’ equity

$

24,723

$

20,603

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For Three Months Ended

June 30,

(In millions)

2022

2021

Cash flows from operating activities

     Net income

$

2,291

$

1,931

     Adjustments to net income:

         Depreciation

227

184

         Amortization of acquisition-related intangibles

—

48

         Amortization of capitalized software

13

15

         Stock compensation

85

69

         Gains on sales of assets

(1)

(3)

         Deferred taxes

(14)

(1)

     Increase (decrease) from changes in:

         Accounts receivable

(395)

(7)

         Inventories

(139)

40

         Prepaid expenses and other current assets

(1)

(50)

         Accounts payable and accrued expenses

19

(17)

         Accrued compensation

134

141

         Income taxes payable

(279)

(175)

     Changes in funded status of retirement plans

49

7

     Other

(221)

(61)

Cash flows from operating activities

1,768

2,121

Cash flows from investing activities

     Capital expenditures

(597)

(386)

     Proceeds from asset sales

1

3

     Purchases of short-term investments

(2,461)

(1,952)

     Proceeds from short-term investments

4,200

2,455

     Other

82