TI reports third quarter 2023 financial results and shareholder returns

 

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


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