TI reports second quarter 2024 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Statements of Cash Flows


For Three Months Ended

June 30,

(In millions)


2024


2023

Cash flows from operating activities







   Net income


$

1,127


$

1,722

   Adjustments to net income:







   Depreciation



363



285

   Amortization of capitalized software



18



15

   Stock compensation



116



111

   (Gains) losses on sales of assets



3



(1)

   Deferred taxes



(85)



(52)

   Increase (decrease) from changes in:







   Accounts receivable



(40)



(79)

   Inventories



(23)



(441)

   Prepaid expenses and other current assets



(22)



14

   Accounts payable and accrued expenses



102



74

   Accrued compensation



168



165

   Income taxes payable



120



(243)

   Changes in funded status of retirement plans



9



17

   Other



(285)



(188)

Cash flows from operating activities



1,571



1,399








Cash flows from investing activities







   Capital expenditures



(1,064)



(1,446)

   Proceeds from asset sales



2



1

   Purchases of short-term investments



(2,098)



(4,047)

   Proceeds from short-term investments



3,130



3,065

   Other



30



42

Cash flows from investing activities





(2,385)








Cash flows from financing activities







   Proceeds from issuance of long-term debt





1,603

   Repayment of debt



(300)



(500)

   Dividends paid



(1,185)



(1,125)

   Stock repurchases



(71)



(79)

   Proceeds from common stock transactions



248



65

   Other



(6)



(16)

Cash flows from financing activities



(1,314)



(52)








Net change in cash and cash equivalents



257



(1,038)

Cash and cash equivalents at beginning of period



2,483



4,477

Cash and cash equivalents at end of period


$

2,740


$

3,439








Supplemental cash flow information







   Investment tax credit (ITC) used to reduce income taxes payable


$

312


$

Total cash benefit related to the U.S. CHIPS and Science Act


$

312


$


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