Cash return
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| Trailing 12 Months | ||||
(In millions) |
| Q2 2023 |
| Q2 2023 |
| Q2 2022 |
| Change |
Dividends paid |
| $ 1,125 |
| $ 4,424 |
| $ 4,127 |
| 7 % |
Stock repurchases |
| $ 79 |
| $ 2,026 |
| $ 2,052 |
| (1) % |
Total cash returned |
| $ 1,204 |
| $ 6,450 |
| $ 6,179 |
| 4 % |
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||
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Consolidated Statements of Income |
| For Three Months Ended June 30, | ||
(In millions, except per-share amounts) |
| 2023 |
| 2022 |
Revenue |
| $ 4,531 |
| $ 5,212 |
Cost of revenue (COR) |
| 1,621 |
| 1,587 |
Gross profit |
| 2,910 |
| 3,625 |
Research and development (R&D) |
| 477 |
| 414 |
Selling, general and administrative (SG&A) |
| 461 |
| 422 |
Restructuring charges/other |
| — |
| 66 |
Operating profit |
| 1,972 |
| 2,723 |
Other income (expense), net (OI&E) |
| 119 |
| 7 |
Interest and debt expense |
| 89 |
| 49 |
Income before income taxes |
| 2,002 |
| 2,681 |
Provision for income taxes |
| 280 |
| 390 |
Net income |
| $ 1,722 |
| $ 2,291 |
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| Diluted earnings per common share |
| $ 1.87 |
| $ 2.45 |
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| Average shares outstanding: |
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| Basic |
| 908 |
| 920 |
| Diluted |
| 916 |
| 930 |
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| Cash dividends declared per common share |
| $ 1.24 |
| $ 1.15 |
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| Supplemental Information (Quarterly, except as noted) | ||||
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| Provision for income taxes is based on the following: |
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| Operating taxes (calculated using the estimated annual effective tax rate) |
| $ 289 |
| $ 395 |
| Discrete tax items |
| (9) |
| (5) |
| Provision for income taxes (effective taxes) |
| $ 280 |
| $ 390 |
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| 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 |
| $ 1,722 |
| $ 2,291 |
| Income allocated to RSUs |
| (8) |
| (10) |
| Income allocated to common stock for diluted EPS |
| $ 1,714 |
| $ 2,281 |
