Capital expenditures for the past 12 months were 4 percent of revenue, consistent with TI's long-term expectations.
Cash return
Amounts are in millions of dollars.
|
|
|
|
Trailing 12 Months | ||||
|
|
|
1Q16 |
1Q16 |
1Q15 |
Change | ||
|
Dividends paid |
|
$ 383 |
$ 1,471 |
$ 1,354 |
9% | ||
|
Stock repurchases |
|
$ 630 |
$ 2,701 |
$ 2,781 |
-3% | ||
|
Total cash returned |
|
$ 1,013 |
$ 4,172 |
$ 4,135 |
1% | ||
The company's targeted cash return is 100 percent of free cash flow plus proceeds from exercises of equity compensation minus net debt retirement.
|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES Consolidated Statements of Income (Millions of dollars, except share and per-share amounts) | |||||||
|
| |||||||
|
|
|
For Three Months Ended |
| ||||
|
|
|
March 31, |
| ||||
|
|
|
2016 |
|
2015 |
| ||
|
Revenue |
|
$ |
3,008 |
|
$ |
3,150 |
|
|
Cost of revenue (COR) |
|
|
1,184 |
|
|
1,334 |
|
|
Gross profit |
|
|
1,824 |
|
|
1,816 |
|
|
Research and development (R&D) |
|
|
326 |
|
|
338 |
|
|
Selling, general and administrative (SG&A) |
|
|
448 |
|
|
439 |
|
|
Acquisition charges |
|
|
80 |
|
|
83 |
|
|
Restructuring charges/other |
|
|
2 |
|
|
(2) |
|
|
Operating profit |
|
|
968 |
|
|
958 |
|
|
Other income (expense), net (OI&E) |
|
|
4 |
|
|
4 |
|
|
Interest and debt expense |
|
|
22 |
|
|
22 |
|
|
Income before income taxes |
|
|
950 |
|
|
940 |
|
|
Provision for income taxes |
|
|
282 |
|
|
284 |
|
|
Net income |
|
$ |
668 |
|
$ |
656 |
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per common share |
|
$ |
.65 |
|
$ |
.61 |
|
|
|
|
|
|
|
|
|
|
|
Average diluted shares outstanding (millions) |
|
|
1,018 |
|
|
1,061 |
|
|
|
|
|
|
|
|
|
|
|
Cash dividends declared per common share |
|
$ |
.38 |
|
$ |
.34 |
|
|
|
|
|
|
|
|
|
|
|
As a result of accounting rule ASC 260, which requires a portion of Net income to be allocated to unvested restricted stock units
|
| ||||||
|
| |||||||
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
668 |
|
$ |
656 |
|
|
Income allocated to RSUs |
|
|
(9) |
|
|
(9) |
|
|
Income allocated to common stock for diluted EPS |
|
$ |
659 |
|
$ |
647 |
|
