TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||||
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Consolidated Statements of Cash Flows |
| For Three Months Ended December 31, |
| For Years Ended December 31, | ||||
(In millions) |
| 2021 |
| 2020 |
| 2021 |
| 2020 |
Cash flows from operating activities |
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Net income |
| $ 2,138 |
| $ 1,688 |
| $ 7,769 |
| $ 5,595 |
Adjustments to net income: |
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|
|
|
Depreciation |
| 200 |
| 180 |
| 755 |
| 733 |
Amortization of acquisition-related intangibles |
| — |
| 47 |
| 142 |
| 198 |
Amortization of capitalized software |
| 13 |
| 16 |
| 57 |
| 61 |
Stock compensation |
| 50 |
| 42 |
| 230 |
| 224 |
Gains on sales of assets |
| (50) |
| (1) |
| (57) |
| (4) |
Deferred taxes |
| (4) |
| (22) |
| 15 |
| (137) |
Increase (decrease) from changes in: |
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|
|
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|
Accounts receivable |
| (48) |
| (22) |
| (287) |
| (340) |
Inventories |
| (47) |
| 117 |
| 45 |
| 46 |
Prepaid expenses and other current assets |
| (42) |
| (79) |
| 57 |
| (79) |
Accounts payable and accrued expenses |
| (54) |
| 3 |
| 33 |
| 63 |
Accrued compensation |
| 110 |
| 111 |
| 7 |
| 63 |
| Income taxes payable |
| 34 |
| 135 |
| (20) |
| (181) |
| Changes in funded status of retirement plans |
| 14 |
| (25) |
| 62 |
| (9) |
| Other |
| 43 |
| (65) |
| (52) |
| (94) |
| Cash flows from operating activities |
| 2,357 |
| 2,125 |
| 8,756 |
| 6,139 |
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| Cash flows from investing activities |
|
|
|
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| Capital expenditures |
| (1,282) |
| (212) |
| (2,462) |
| (649) |
| Proceeds from asset sales |
| 68 |
| 1 |
| 75 |
| 4 |
| Purchases of short-term investments |
| (3,697) |
| (2,351) |
| (10,124) |
| (5,786) |
| Proceeds from short-term investments |
| 2,708 |
| 1,587 |
| 8,478 |
| 5,545 |
| Other |
| (26) |
| (21) |
| (62) |
| (36) |
| Cash flows from investing activities |
| (2,229) |
| (996) |
| (4,095) |
| (922) |
|
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| Cash flows from financing activities |
|
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|
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| Proceeds from issuance of long-term debt |
| — |
| — |
| 1,495 |
| 1,498 |
| Repayment of debt |
| — |
| — |
| (550) |
| (500) |
| Dividends paid |
| (1,062) |
| (937) |
| (3,886) |
| (3,426) |
| Stock repurchases |
| (142) |
| (15) |
| (527) |
| (2,553) |
| Proceeds from common stock transactions |
| 52 |
| 114 |
| 377 |
| 470 |
| Other |
| (8) |
| (6) |
| (46) |
| (36) |
| Cash flows from financing activities |
| (1,160) |
| (844) |
| (3,137) |
| (4,547) |
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| Net change in cash and cash equivalents |
| (1,032) |
| 285 |
| 1,524 |
| 670 |
| Cash and cash equivalents at beginning of period |
| 5,663 |
| 2,822 |
| 3,107 |
| 2,437 |
| Cash and cash equivalents at end of period |
| $ 4,631 |
| $ 3,107 |
| $ 4,631 |
| $ 3,107 |
TI reports Q4 2021 and 2021 financial results and shareholder returns
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