TI reports Q4 2021 and 2021 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


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









Net income


$             2,138


$             1,688


$             7,769


$             5,595

Adjustments to net income:









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:









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










Cash flows from investing activities









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)










Cash flows from financing activities









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)










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


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