Trailing 12 Months

(In millions)

Q3 2022

Q3 2022

Q3 2021

Change  

Dividends paid

$

1,051

$

4,236

$

3,761

13 %

Stock repurchases

$

996

$

2,909

$

400

627 %

Total cash returned

$

2,047

$

7,145

$

4,161

72 %

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

For Three Months Ended

September 30,

(In millions, except per-share amounts)

2022

2021

Revenue

$

5,241

$

4,643

Cost of revenue (COR)

1,624

1,491

Gross profit

3,617

3,152

Research and development (R&D)

431

388

Selling, general and administrative (SG&A)

431

412

Acquisition charges

—

47

Restructuring charges/other

77

—

Operating profit

2,678

2,305

Other income (expense), net (OI&E)

33

15

Interest and debt expense

53

45

Income before income taxes

2,658

2,275

Provision for income taxes

363

328

Net income

$

2,295

$

1,947

Diluted earnings per common share

$

2.47

$

2.07

Average shares outstanding:

     Basic

913

923

     Diluted

923

936

Cash dividends declared per common share

$

1.15

$

1.02

Supplemental Information

(Quarterly, except as noted)

Provision for income taxes is based on the following:

Operating taxes (calculated using the estimated annual effective tax rate)

$

391

$

337

Discrete tax items

(28)

(9)

Provision for income taxes (effective taxes)

$

363

$

328

A portion of net income is allocated to unvested restricted stock units (RSUs) on which we pay dividend

equivalents. Diluted EPS is calculated using the following:

Net income

$

2,295

$

1,947

Income allocated to RSUs

(11)

(9)

Income allocated to common stock for diluted EPS

$

2,284

$

1,938