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TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
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Consolidated Statements of Cash Flows |
| For Three Months Ended September 30, | ||||
(Millions of dollars) |
| 2021 |
| 2020 | ||
Cash flows from operating activities |
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Net income |
| $ | 1,947 |
| $ | 1,353 |
Adjustments to net income: |
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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: |
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|
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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 | ||
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Cash flows from investing activities |
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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) | ||
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Cash flows from financing activities |
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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) | ||
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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 |
TI reports third quarter 2021 financial results and shareholder returns
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