|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
|
Consolidated Statements of Cash Flows | ||||||
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(Millions of dollars) | ||||||
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For Three Months Ended | ||||
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|
June 30, | ||||
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|
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2017 |
|
2016 | ||
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Cash flows from operating activities |
|
|
|
|
|
|
|
Net income |
|
$ |
1,056 |
|
$ |
819 |
|
Adjustments to Net income: |
|
|
|
|
|
|
|
Depreciation |
|
|
134 |
|
|
155 |
|
Amortization of acquisition-related intangibles |
|
|
79 |
|
|
79 |
|
Amortization of capitalized software |
|
|
12 |
|
|
8 |
|
Stock compensation |
|
|
75 |
|
|
76 |
|
Deferred income taxes |
|
|
(54) |
|
|
(59) |
|
Increase (decrease) from changes in: |
|
|
|
|
|
|
|
Accounts receivable |
|
|
(132) |
|
|
(76) |
|
Inventories |
|
|
(104) |
|
|
(71) |
|
Prepaid expenses and other current assets |
|
|
83 |
|
|
(8) |
|
Accounts payable and accrued expenses |
|
|
12 |
|
|
40 |
|
Accrued compensation |
|
|
131 |
|
|
147 |
|
Income taxes payable |
|
|
(385) |
|
|
(25) |
|
Changes in funded status of retirement plans |
|
|
19 |
|
|
14 |
|
Other |
|
|
(9) |
|
|
10 |
|
Cash flows from operating activities |
|
|
917 |
|
|
1,109 |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
Capital expenditures |
|
|
(151) |
|
|
(158) |
|
Purchases of short-term investments |
|
|
(1,130) |
|
|
(993) |
|
Proceeds from short-term investments |
|
|
1,265 |
|
|
1,210 |
|
Other |
|
|
8 |
|
|
6 |
|
Cash flows from investing activities |
|
|
(8) |
|
|
65 |
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
Proceeds from issuance of long-term debt |
|
|
605 |
|
|
499 |
|
Repayment of debt |
|
|
(375) |
|
|
(1,000) |
|
Dividends paid |
|
|
(498) |
|
|
(382) |
|
Stock repurchases |
|
|
(650) |
|
|
(527) |
|
Proceeds from common stock transactions |
|
|
84 |
|
|
193 |
|
Other |
|
|
(8) |
|
|
(3) |
|
Cash flows from financing activities |
|
|
(842) |
|
|
(1,220) |
|
|
|
|
|
|
|
|
|
Net change in Cash and cash equivalents |
|
|
67 |
|
|
(46) |
|
Cash and cash equivalents at beginning of period |
|
|
1,073 |
|
|
1,281 |
|
Cash and cash equivalents at end of period |
|
$ |
1,140 |
|
$ |
1,235 |
|
|
|
Certain amounts in the prior period have been recast to conform to the current presentation. |
