Trailing 12 Months

(In millions)

Q3 2023

Q3 2023

Q3 2022

Change 

Dividends paid

$

1,126

$

4,499

$

4,236

6 %

Stock repurchases

$

46

$

1,076

$

2,909

(63) %

Total cash returned

$

1,172

$

5,575

$

7,145

(22) %

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

For Three Months Ended

September 30,

(In millions, except per-share amounts)

2023

2022

Revenue

$

4,532

$

5,241

Cost of revenue (COR)

1,717

1,624

Gross profit

2,815

3,617

Research and development (R&D)

471

431

Selling, general and administrative (SG&A)

452

431

Restructuring charges/other

—

77

Operating profit

1,892

2,678

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

128

33

Interest and debt expense

98

53

Income before income taxes

1,922

2,658

Provision for income taxes

213

363

Net income

$

1,709

$

2,295

Diluted earnings per common share

$

1.85

$

2.47

Average shares outstanding:

   Basic

908

913

   Diluted

916

923

Cash dividends declared per common share

$

1.24

$

1.15

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)

$

229

$

391

Discrete tax items

(16)

(28)

Provision for income taxes (effective taxes)

$

213

$

363

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

$

1,709

$

2,295

Income allocated to RSUs

(10)

(11)

Income allocated to common stock for diluted EPS

$

1,699

$

2,284