TI reports Q4 2020 and 2020 financial results and shareholder returns

 

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(Millions of dollars)



For Three Months Ended

December 31,


For Years Ended

December 31,


2020


2019


2020


2019

Cash flows from operating activities








Net income

$

1,688


$

1,070


$

5,595


$

5,017

Adjustments to net income:









Depreciation

180


186


733


708

Amortization of acquisition-related intangibles

47


50


198


288

Amortization of capitalized software

16


14


61


54

Stock compensation

42


41


224


217

Gains on sales of assets

(1)



(4)


(23)

Deferred taxes

(22)


50


(137)


81

Increase (decrease) from changes in:









Accounts receivable

(22)


268


(340)


133

Inventories

117


39


46


216

Prepaid expenses and other current assets

(79)


(20)


(79)


265

Accounts payable and accrued expenses

3


(29)


63


(93)

Accrued compensation

111


100


63


(15)

Income taxes payable

135


7


(181)


(193)

Changes in funded status of retirement plans

(25)


3


(9)


29

Other

(65)


(25)


(94)


(35)

Cash flows from operating activities

2,125


1,754


6,139


6,649










Cash flows from investing activities









Capital expenditures

(212)


(163)


(649)


(847)

Proceeds from asset sales

1



4


30

Purchases of short-term investments

(2,351)


(2,070)


(5,786)


(3,444)

Proceeds from short-term investments

1,587


305


5,545


2,309

Other

(21)


7


(36)


32

Cash flows from investing activities

(996)


(1,921)


(922)


(1,920)










Cash flows from financing activities









Proceeds from issuance of long-term debt



1,498


1,491

Repayment of debt



(500)


(750)

Dividends paid

(937)


(841)


(3,426)


(3,008)

Stock repurchases

(15)


(489)


(2,553)


(2,960)

Proceeds from common stock transactions

114


48


470


539

Other

(6)


(7)


(36)


(42)

Cash flows from financing activities

(844)


(1,289)


(4,547)


(4,730)










Net change in cash and cash equivalents

285


(1,456)


670


(1)

Cash and cash equivalents at beginning of period

2,822


3,893


2,437


2,438

Cash and cash equivalents at end of period

$

3,107


$

2,437


$

3,107


$

2,437


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