|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
|
Consolidated Statements of Cash Flows | ||||||
|
(Millions of dollars) | ||||||
|
| ||||||
|
|
|
For Three Months Ended | ||||
|
|
|
September 30, | ||||
|
|
|
2015 |
|
2014 | ||
|
Cash flows from operating activities |
|
|
|
|
|
|
|
Net income |
|
$ |
798 |
|
$ |
826 |
|
Adjustments to Net income: |
|
|
|
|
|
|
|
Depreciation |
|
|
193 |
|
|
213 |
|
Amortization of acquisition-related intangibles |
|
|
80 |
|
|
80 |
|
Amortization of capitalized software |
|
|
12 |
|
|
15 |
|
Stock-based compensation |
|
|
66 |
|
|
62 |
|
Gains on sales of assets |
|
|
— |
|
|
(5) |
|
Deferred income taxes |
|
|
(50) |
|
|
(27) |
|
Increase (decrease) from changes in: |
|
|
|
|
|
|
|
Accounts receivable |
|
|
(47) |
|
|
42 |
|
Inventories |
|
|
114 |
|
|
(7) |
|
Prepaid expenses and other current assets |
|
|
40 |
|
|
96 |
|
Accounts payable and accrued expenses |
|
|
(48) |
|
|
(48) |
|
Accrued compensation |
|
|
132 |
|
|
127 |
|
Income taxes payable |
|
|
99 |
|
|
(42) |
|
Changes in funded status of retirement plans |
|
|
24 |
|
|
32 |
|
Other |
|
|
(4) |
|
|
19 |
|
Cash flows from operating activities |
|
|
1,409 |
|
|
1,383 |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
Capital expenditures |
|
|
(139) |
|
|
(103) |
|
Proceeds from asset sales |
|
|
— |
|
|
6 |
|
Purchases of short-term investments |
|
|
(459) |
|
|
(704) |
|
Proceeds from short-term investments |
|
|
980 |
|
|
412 |
|
Other |
|
|
7 |
|
|
6 |
|
Cash flows from investing activities |
|
|
389 |
|
|
(383) |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
Repayment of debt |
|
|
(750) |
|
|
— |
|
Dividends paid |
|
|
(348) |
|
|
(319) |
|
Stock repurchases |
|
|
(790) |
|
|
(670) |
|
Proceeds from common stock transactions |
|
|
35 |
|
|
68 |
|
Excess tax benefit from share-based payments |
|
|
4 |
|
|
11 |
|
Cash flows from financing activities |
|
|
(1,849) |
|
|
(910) |
|
|
|
|
|
|
|
|
|
Net change in Cash and cash equivalents |
|
|
(51) |
|
|
90 |
|
Cash and cash equivalents at beginning of period |
|
|
1,184 |
|
|
1,216 |
|
Cash and cash equivalents at end of period |
|
$ |
1,133 |
|
$ |
1,306 |
