2Q18

2Q17

  變化

營業收入

$

4,017

$

3,693

9%

營業利(li)潤

$

1,712

$

1,480

16%

凈收(shou)入

$

1,405

$

1,056

33%

每股收益

$

1.40

$

1.03

36%

最近(jin)連續12個月

2Q18

2Q18

2Q17

  變(bian)化

經營現(xian)金流

$

1,826

$

6,589

$

4,564

44%

資本支(zhi)出

$

249

$

855

$

527

62%

自由(you)現金流

$

1,577

$

5,734

$

4,037

42%

自(zi)由現金流(liu)占營(ying)業收入百(bai)分比

36.6%

28.5%

最(zui)近連續12個月

2Q18

2Q18

2Q17

   變化

分派股息

$

606

$

2,323

$

1,879

24%

股票(piao)回購

$

1,018

$

3,247

$

2,175

49%

總現金(jin)回報(bao)

$

1,624

$

5,570

$

4,054

37%

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

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

For Three Months Ended

June 30,

2018

2017

Revenue ....................................................................................................................................

$

4,017

$

3,693

Cost of revenue (COR) ...........................................................................................................

1,398

1,319

Gross profit ................................................................................................................................

2,619

2,374

Research and development (R&D) ......................................................................................

384

378

Selling, general and administrative (SG&A) .......................................................................

441

434

Acquisition charges .................................................................................................................

79

79

Restructuring charges/other ...................................................................................................

3

3

Operating profit ........................................................................................................................

1,712

1,480

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

24

26

Interest and debt expense ......................................................................................................

30

20

Income before income taxes .................................................................................................

1,706

1,486

Provision for income taxes ....................................................................................................

301

430

Net income ................................................................................................................................

$

1,405

$

1,056

Diluted earnings per common share ...................................................................................

$

1.40

$

1.03

Average shares outstanding (millions):

Basic ......................................................................................................................................

977

994

Diluted ...................................................................................................................................

997

1,015

Cash dividends declared per common share ....................................................................

$

.62

$

.50

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) ................

$

344

$

458

Discrete tax items ....................................................................................................................

(43)

(28)

Provision for income taxes (effective taxes) ......................................................................

$

301

$

430

Annual operating tax rate .......................................................................................................

20%

31%

Effective tax rate ......................................................................................................................

18%

29%

As a result of accounting rule ASC 260, which requires a portion of Net income to be allocated to unvested restricted
stock units (RSUs) on which we pay dividend equivalents, diluted EPS is calculated using the following:

Net income ................................................................................................................................

$

1,405

$

1,056

Income allocated to RSUs ......................................................................................................

(11)

(10)

Income allocated to common stock for diluted EPS .........................................................

$

1,394

$

1,046

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)

June 30,

2018

2017

Assets

Current assets:

Cash and cash equivalents ...............................................................................................

$

2,919

$

1,140

Short-term investments ......................................................................................................

2,211

1,844

Accounts receivable, net of allowances of ($8) and ($11) ..........................................

1,551

1,469

Raw materials ..................................................................................................................

155

109

Work in process ...............................................................................................................

1,079

1,099

Finished goods ................................................................................................................

856

739

Inventories ............................................................................................................................

2,090

1,947

Prepaid expenses and other current assets ...................................................................

821

1,111

Total current assets .............................................................................................................

9,592

7,511

Property, plant and equipment at cost .................................................................................

5,025

4,656

Accumulated depreciation .................................................................................................

(2,170)

(2,142)

Property, plant and equipment, net ..................................................................................

2,855

2,514

Long-term investments ...........................................................................................................

271

250

Goodwill, net .............................................................................................................................

4,362

4,362

Acquisition-related intangibles, net ......................................................................................

787

1,105

Deferred income taxes ...........................................................................................................

205

412

Capitalized software licenses, net ........................................................................................

101

114

Overfunded retirement plans ................................................................................................

205

99

Other long-term assets ...........................................................................................................

149

71

Total assets ...............................................................................................................................

$

18,527

$

16,438

Liabilities and stockholders’ equity

Current liabilities:

Current portion of long-term debt .....................................................................................

$

----

$

499

Accounts payable ................................................................................................................

492

450

Accrued compensation ......................................................................................................

472

489

Income taxes payable ........................................................................................................

120

86

Accrued expenses and other liabilities ...........................................................................

382

353

Total current liabilities .........................................................................................................

1,466

1,877

Long-term debt .........................................................................................................................

5,066

3,084

Underfunded retirement plans ..............................................................................................

82

101

Deferred tax liabilities .............................................................................................................

50

33

Other long-term liabilities .......................................................................................................

1,229

635

Total liabilities ...........................................................................................................................

7,893

5,730

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 ......................................................................................................................

1,867

1,683

Retained earnings ...............................................................................................................

36,413

34,149

Treasury common stock at cost

Shares: March 31, 2018 – 759,098,020; March 31, 2017 – 743,085,976 ...........

(29,016)

(26,345)

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

(371)

(520)

Total stockholders’ equity ..................................................................................................

10,634

10,708

Total liabilities and stockholders’ equity ..............................................................................

$

18,527

$

16,438

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(Millions of dollars)

For Three Months Ended

June 30,

2018

Cash flows from operating activities

Net income ............................................................................................................................

$

1,405

$

1,056

Adjustments to Net income:

Depreciation .....................................................................................................................

144

134

Amortization of acquisition-related intangibles .........................................................

79

79

Amortization of capitalized software ...........................................................................

10

12

Stock compensation .......................................................................................................

74

75

Deferred taxes .................................................................................................................

1

(54)

Increase (decrease) from changes in:

Accounts receivable ........................................................................................................

(97)

(132)

Inventories ........................................................................................................................

(58)

(104)

Prepaid expenses and other current assets ...............................................................

61

83

Accounts payable and accrued expenses ..................................................................

6

12

Accrued compensation ..................................................................................................

123

131

Income taxes payable ....................................................................................................

120

(385)

Changes in funded status of retirement plans ...............................................................

29

19

Other .......................................................................................................................................

(71)

(9)

Cash flows from operating activities ....................................................................................

1,826

917

Cash flows from investing activities

Capital expenditures ...........................................................................................................

(249)

(151)

Proceeds from asset sales..................................................................................................

(1,213)

(1,130)

Purchases of short-term investments ..............................................................................

1,375

1,265

Proceeds from short-term investments ...........................................................................

1,445

1,120

Other .......................................................................................................................................

6

8

Cash flows from investing activities .....................................................................................

(81)

(8)

Cash flows from financing activities

Proceeds from issuance of long-term debt.....................................................................

1,500

605

Repayment of debt...............................................................................................................

(500)

(375)

Dividends paid ......................................................................................................................

(606)

(498)

Stock repurchases ...............................................................................................................

(1,018)

(650)

Proceeds from common stock transactions ...................................................................

102

84

Other .......................................................................................................................................

(21)

(8)

Cash flows from financing activities .....................................................................................

(543)

(842)

Net change in Cash and cash equivalents ..........................................................................

1,202

67

Cash and cash equivalents at beginning of period ...........................................................

1,717

1,073

Cash and cash equivalents at end of period ......................................................................

$

2,919

$

1,140

2Q18

2Q17

變化(hua)

模擬：

               營業收(shou)入

$

2,690

$

2,411

12%

               營業利(li)潤

$

1,263

$

1,077

17%

嵌入式處理：

   ;           營(ying)業收入

$

943

$

868

9%

              營業利潤(run)

$

334

$

271

23%

其它：

              營(ying)業收入

$

384

$

414

(7)%

            ;  營(ying)業利潤*

$

115

$

132

(13)%

*包括(kuo)收購、重(zhong)組(zu)或其它費用。

For 12 Months Ended

June 30,

Change

Cash flow from operations (GAAP) ...............................................................

$

6,589

$

4, 564

44%

Capital expenditures .........................................................................................

(855)

(527)

Free cash flow (non-GAAP) .............................................................................

$

5,734

$

4,037

42%

Revenue ..............................................................................................................

$

15,672

$

14,184

Cash flow from operations as a percent of revenue (GAAP) ...................

42.0%

32.2%

Free cash flow as a percent of revenue (non-GAAP) .................................

36.6%

28.5%