TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
Consolidated Statements of Cash Flows | ||||||
(Millions of dollars) | ||||||
| ||||||
|
|
For Three Months Ended | ||||
|
|
March 31, | ||||
|
|
2018 |
|
2017 | ||
Cash flows from operating activities |
|
|
|
|
|
|
Net income |
|
$ |
1,366 |
|
$ |
997 |
Adjustments to Net income: |
|
|
|
|
|
|
Depreciation |
|
|
137 |
|
|
139 |
Amortization of acquisition-related intangibles |
|
|
80 |
|
|
80 |
Amortization of capitalized software |
|
|
12 |
|
|
11 |
Stock compensation |
|
|
70 |
|
|
68 |
Deferred taxes |
|
|
(31) |
|
|
9 |
Increase (decrease) from changes in: |
|
|
|
|
|
|
Accounts receivable |
|
|
(176) |
|
|
(68) |
Inventories |
|
|
(97) |
|
|
(53) |
Prepaid expenses and other current assets |
|
|
356 |
|
|
(71) |
Accounts payable and accrued expenses |
|
|
(51) |
|
|
(78) |
Accrued compensation |
|
|
(372) |
|
|
(356) |
Income taxes payable |
|
|
(131) |
|
|
149 |
Changes in funded status of retirement plans |
|
|
(15) |
|
|
(14) |
Other |
|
|
(36) |
|
|
(18) |
Cash flows from operating activities |
|
|
1,112 |
|
|
795 |
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
Capital expenditures |
|
|
(189) |
|
|
(127) |
Proceeds from asset sales |
|
|
— |
|
|
40 |
Purchases of short-term investments |
|
|
(996) |
|
|
(757) |
Proceeds from short-term investments |
|
|
1,455 |
|
|
1,120 |
Other |
|
|
(4) |
|
|
(9) |
Cash flows from investing activities |
|
|
266 |
|
|
267 |
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
Repayment of debt |
|
|
— |
|
|
(250) |
Dividends paid |
|
|
(611) |
|
|
(500) |
Stock repurchases |
|
|
(873) |
|
|
(550) |
Proceeds from common stock transactions |
|
|
178 |
|
|
161 |
Other |
|
|
(11) |
|
|
(4) |
Cash flows from financing activities |
|
|
(1,317) |
|
|
(1,143) |
|
|
|
|
|
|
|
Net change in Cash and cash equivalents |
|
|
61 |
|
|
(81) |
Cash and cash equivalents at beginning of period |
|
|
1,656 |
|
|
1,154 |
Cash and cash equivalents at end of period |
|
$ |
1,717 |
|
$ |
1,073 |
TI reports 1Q18 financial results and shareholder returns
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