Trailing 12 Months

(In millions)

Q2 2024

Q2 2024

Q2 2023

Change 

Dividends paid

$

1,185

$

4,675

$

4,424

6 %

Stock repurchases

$

71

$

185

$

2,026

(91) %

Total cash returned

$

1,256

$

4,860

$

6,450

(25) %

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

For Three Months Ended

June 30,

(In millions, except per-share amounts)

2024

2023

Revenue

$

3,822

$

4,531

Cost of revenue (COR)

1,611

1,621

Gross profit

2,211

2,910

Research and development (R&D)

498

477

Selling, general and administrative (SG&A)

465

461

Operating profit

1,248

1,972

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

130

119

Interest and debt expense

131

89

Income before income taxes

1,247

2,002

Provision for income taxes

120

280

Net income

$

1,127

$

1,722

Diluted earnings per common share

$

1.22

$

1.87

Average shares outstanding:

   Basic

912

908

   Diluted

919

916

Cash dividends declared per common share

$

1.30

$

1.24

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)

$

170

$

289

Discrete tax items

(50)

(9)

Provision for income taxes (effective taxes)

$

120

$

280

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

$

1,127

$

1,722

Income allocated to RSUs

(6)

(8)

Income allocated to common stock for diluted EPS

$

1,121

$

1,714