TI reports third quarter 2021 financial results and shareholder returns

 



TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Statements of Cash Flows


For Three Months Ended

September 30,

(Millions of dollars)


2021


2020

Cash flows from operating activities





Net income


$

1,947


$

1,353

Adjustments to net income:





Depreciation


192


183

Amortization of acquisition-related intangibles


47


51

Amortization of capitalized software


14


16

Stock compensation


50


50

Gains on sales of assets


(3)


(2)

Deferred taxes


12


(51)

Increase (decrease) from changes in:





Accounts receivable


(62)


(216)

Inventories


(13)


64

Prepaid expenses and other current assets


76


25

Accounts payable and accrued expenses


35


(13)

Accrued compensation


135


157

Income taxes payable


(10)


(208)

Changes in funded status of retirement plans


13


(1)

Other


(5)


35

Cash flows from operating activities


2,428


1,443






Cash flows from investing activities





Capital expenditures


(486)


(146)

Proceeds from asset sales


3


2

Purchases of short-term investments


(1,693)


(2,540)

Proceeds from short-term investments


1,315


510

Other


(23)


(15)

Cash flows from investing activities


(884)


(2,189)






Cash flows from financing activities





Proceeds from issuance of long-term debt


1,495


Dividends paid


(942)


(825)

Stock repurchases


(139)


(15)

Proceeds from common stock transactions


75


123

Other


(19)


(9)

Cash flows from financing activities


470


(726)






Net change in cash and cash equivalents


2,014


(1,472)

Cash and cash equivalents at beginning of period


3,649


4,294

Cash and cash equivalents at end of period


$

5,663


$

2,822


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