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

$

—