TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
| ||||||
Consolidated Statements of Cash Flows |
| For Three Months Ended September 30, | ||||
(In millions) |
| 2023 |
| 2022 | ||
Cash flows from operating activities |
|
|
|
| ||
Net income |
| $ | 1,709 |
| $ | 2,295 |
Adjustments to net income: |
|
|
|
|
|
|
Depreciation |
|
| 303 |
|
| 249 |
Amortization of capitalized software |
|
| 17 |
|
| 13 |
Stock compensation |
|
| 79 |
|
| 68 |
Deferred taxes |
|
| (99) |
|
| (3) |
Increase (decrease) from changes in: |
|
|
|
|
|
|
Accounts receivable |
|
| (20) |
|
| 150 |
Inventories |
|
| (179) |
|
| (205) |
Prepaid expenses and other current assets |
|
| 28 |
|
| 25 |
Accounts payable and accrued expenses |
|
| 27 |
|
| 42 |
Accrued compensation |
|
| 145 |
|
| 140 |
Income taxes payable |
|
| (7) |
|
| 21 |
Changes in funded status of retirement plans |
|
| 26 |
|
| 56 |
Other |
|
| (92) |
|
| (85) |
Cash flows from operating activities |
|
| 1,937 |
|
| 2,766 |
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
Capital expenditures |
|
| (1,495) |
|
| (790) |
Proceeds from asset sales |
|
| 1 |
|
| — |
Purchases of short-term investments |
|
| (3,080) |
|
| (4,346) |
Proceeds from short-term investments |
|
| 2,885 |
|
| 3,033 |
Other |
|
| (5) |
|
| (10) |
Cash flows from investing activities |
|
| (1,694) |
|
| (2,113) |
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
Proceeds from issuance of long-term debt |
|
| — |
|
| 695 |
Dividends paid |
|
| (1,126) |
|
| (1,051) |
Stock repurchases |
|
| (46) |
|
| (996) |
Proceeds from common stock transactions |
|
| 68 |
|
| 78 |
Other |
|
| (12) |
|
| (12) |
Cash flows from financing activities |
|
| (1,116) |
|
| (1,286) |
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
| (873) |
|
| (633) |
Cash and cash equivalents at beginning of period |
|
| 3,439 |
|
| 3,802 |
Cash and cash equivalents at end of period |
| $ | 2,566 |
| $ | 3,169 |
TI reports third quarter 2023 financial results and shareholder returns
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