|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
|
Consolidated Statements of Cash Flows | ||||||
|
(Millions of dollars) | ||||||
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For Three Months Ended | ||||
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|
March 31, | ||||
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|
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2017 |
|
2016 | ||
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Cash flows from operating activities |
|
|
|
|
|
|
|
Net income |
|
$ |
997 |
|
$ |
711 |
|
Adjustments to Net income: |
|
|
|
|
|
|
|
Depreciation |
|
|
139 |
|
|
161 |
|
Amortization of acquisition-related intangibles |
|
|
80 |
|
|
80 |
|
Amortization of capitalized software |
|
|
11 |
|
|
8 |
|
Stock compensation |
|
|
68 |
|
|
72 |
|
Deferred income taxes |
|
|
9 |
|
|
24 |
|
Increase (decrease) from changes in: |
|
|
|
|
|
|
|
Accounts receivable |
|
|
(68) |
|
|
(100) |
|
Inventories |
|
|
(53) |
|
|
(114) |
|
Prepaid expenses and other current assets |
|
|
(71) |
|
|
43 |
|
Accounts payable and accrued expenses |
|
|
(78) |
|
|
(41) |
|
Accrued compensation |
|
|
(356) |
|
|
(322) |
|
Income taxes payable |
|
|
149 |
|
|
131 |
|
Changes in funded status of retirement plans |
|
|
(14) |
|
|
18 |
|
Other |
|
|
(18) |
|
|
(18) |
|
Cash flows from operating activities |
|
|
795 |
|
|
653 |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
Capital expenditures |
|
|
(127) |
|
|
(124) |
|
Proceeds from asset sales |
|
|
40 |
|
|
— |
|
Purchases of short-term investments |
|
|
(757) |
|
|
(200) |
|
Proceeds from short-term investments |
|
|
1,120 |
|
|
900 |
|
Other |
|
|
(9) |
|
|
(3) |
|
Cash flows from investing activities |
|
|
267 |
|
|
573 |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
Repayment of debt |
|
|
(250) |
|
|
— |
|
Dividends paid |
|
|
(500) |
|
|
(383) |
|
Stock repurchases |
|
|
(550) |
|
|
(630) |
|
Proceeds from common stock transactions |
|
|
161 |
|
|
68 |
|
Other |
|
|
(4) |
|
|
— |
|
Cash flows from financing activities |
|
|
(1,143) |
|
|
(945) |
|
|
|
|
|
|
|
|
|
Net change in Cash and cash equivalents |
|
|
(81) |
|
|
281 |
|
Cash and cash equivalents at beginning of period |
|
|
1,154 |
|
|
1,000 |
|
Cash and cash equivalents at end of period |
|
$ |
1,073 |
|
$ |
1,281 |
|
|
|
Certain amounts in the prior period have been recast to conform to the current presentation. |
