TI reports Q4 2023 and 2023 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Statements of Cash Flows


For Three Months Ended

December 31,


For Years Ended

December 31,

(In millions)


2023


2022


2023


2022

Cash flows from operating activities













   Net income


$

1,371


$

1,962


$

6,510


$

8,749

   Adjustments to net income:













   Depreciation



322



249



1,175



925

   Amortization of capitalized software



15



14



63



54

   Stock compensation



68



62



362



289

   (Gains) losses on sales of assets



1







(3)

   Deferred taxes



(140)



(173)



(299)



(191)

   Increase (decrease) from changes in:













   Accounts receivable



189



145



108



(194)

   Inventories



(91)



(353)



(1,242)



(847)

   Prepaid expenses and other current assets



8



(39)



46



6

   Accounts payable and accrued expenses



(10)



34



(33)



106

   Accrued compensation



126



136



29



22

   Income taxes payable



58



68



(7)



94

   Changes in funded status of retirement plans



(4)



(12)



45



114

   Other



11



(51)



(337)



(404)

Cash flows from operating activities



1,924



2,042



6,420



8,720














Cash flows from investing activities













   Capital expenditures



(1,148)



(967)



(5,071)



(2,797)

   Proceeds from asset sales







3



3

   Purchases of short-term investments



(2,565)



(3,688)



(12,705)



(14,483)

   Proceeds from short-term investments



3,411



3,650



13,387



13,657

   Other



(9)



(22)



24



37

Cash flows from investing activities



(311)



(1,027)



(4,362)



(3,583)














Cash flows from financing activities













   Proceeds from issuance of long-term debt





799



3,000



1,494

   Repayment of debt







(500)



(500)

   Dividends paid



(1,181)



(1,123)



(4,557)



(4,297)

   Stock repurchases



(65)



(848)



(293)



(3,615)

   Proceeds from common stock transactions



45



50



263



241

   Other



(14)



(12)



(57)



(41)

Cash flows from financing activities



(1,215)



(1,134)



(2,144)



(6,718)














Net change in cash and cash equivalents



398



(119)



(86)



(1,581)

Cash and cash equivalents at beginning of period



2,566



3,169



3,050



4,631

Cash and cash equivalents at end of period


$

2,964


$

3,050


$

2,964


$

3,050


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