TI reports 4Q15 and 2015 financial results and shareholder returns

 

As of December 31, 2015, we elected to early adopt and retrospectively apply two new accounting standards that require reclassification on our Consolidated Balance Sheets of: (1) deferred income taxes from current to noncurrent accounts, and (2) debt issuance costs from Other assets to Long-term debt. We have reclassified these amounts in the prior periods' financial statements to conform to the 2015 presentation.

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(Millions of dollars)




For Three Months Ended


For Years Ended



December 31,


December 31,



2015


2014


2015


2014

Cash flows from operating activities













Net income


$

836


$

825


$

2,986


$

2,821

Adjustments to Net income:













Depreciation



172



211



766



850

Amortization of acquisition-related intangibles



79



80



319



321

Amortization of capitalized software



10



14



48



59

Stock-based compensation



58



60



286



277

Gains on sales of assets



(82)



(29)



(85)



(73)

Deferred income taxes



51



23



(55)



(61)

Increase (decrease) from changes in:













Accounts receivable



318



223



77



(49)

Inventories



80



(33)



93



(53)

Prepaid expenses and other current assets



5



(16)



94



65

Accounts payable and accrued expenses



2



30



(188)



(194)

Accrued compensation



44



38



7



89

Income taxes payable



(10)



9



11



(81)

Changes in funded status of retirement plans



(88)



(131)



(23)



(58)

Other



(45)



(32)



(68)



(21)

Cash flows from operating activities



1,430



1,272



4,268



3,892














Cash flows from investing activities













Capital expenditures



(164)



(125)



(551)



(385)

Proceeds from asset sales



100



96



110



142

Purchases of short-term investments



(1,054)



(937)



(2,767)



(3,107)

Proceeds from short-term investments



437



475



2,892



2,966

Other



6





14



7

Cash flows from investing activities



(675)



(491)



(302)



(377)














Cash flows from financing activities













Proceeds from issuance of debt







498



498

Repayment of debt







(1,000)



(1,000)

Dividends paid



(386)



(356)



(1,444)



(1,323)

Stock repurchases



(627)



(698)



(2,741)



(2,831)

Proceeds from common stock transactions



110



140



442



616

Excess tax benefit from share-based payments



15



25



83



100

Other





1



(3)



(3)

Cash flows from financing activities



(888)



(888)



(4,165)



(3,943)














Net change in Cash and cash equivalents



(133)



(107)



(199)



(428)

Cash and cash equivalents at beginning of period



1,133



1,306



1,199



1,627

Cash and cash equivalents at end of period


$

1,000


$

1,199


$

1,000


$

1,199


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