Capital expenditures for the past twelve months were 3 percent of revenue. Our long-term goal is about 4 percent.
Cash return
Amounts are in millions of dollars.
|
|
|
|
Trailing 12 Months |
| |
|
|
3Q14 |
|
3Q14 |
3Q13 |
Change |
|
Dividends paid Stock repurchases Total cash returned |
$ 319 $ 670 $ 989 |
|
$ 1,293 $ 2,867 $ 4,160 |
$ 1,084 $ 2,734 $ 3,818 |
19% 5% 9% |
The company's targeted cash return is free cash flow plus proceeds from exercises of equity compensation minus net debt retirement.
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TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
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Consolidated Statements of Income | ||||||
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(Millions of dollars, except share and per-share amounts) | ||||||
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| ||||||
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|
|
For Three Months Ended | ||||
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|
|
September 30, | ||||
|
|
|
2014 |
|
2013 | ||
|
Revenue |
|
$ |
3,501 |
|
$ |
3,244 |
|
Cost of revenue (COR) |
|
|
1,457 |
|
|
1,465 |
|
Gross profit |
|
|
2,044 |
|
|
1,779 |
|
Research and development (R&D) |
|
|
332 |
|
|
368 |
|
Selling, general and administrative (SG&A) |
|
|
463 |
|
|
465 |
|
Acquisition charges |
|
|
83 |
|
|
86 |
|
Restructuring charges/other |
|
|
(9) |
|
|
16 |
|
Operating profit |
|
|
1,175 |
|
|
844 |
|
Other income (expense), net (OI&E) |
|
|
3 |
|
|
(4) |
|
Interest and debt expense |
|
|
23 |
|
|
24 |
|
Income before income taxes |
|
|
1,155 |
|
|
816 |
|
Provision for income taxes |
|
|
329 |
|
|
187 |
|
Net income |
|
$ |
826 |
|
$ |
629 |
|
|
|
|
|
|
|
|
|
Earnings per common share: |
|
|
|
|
|
|
|
Basic |
|
$ |
.77 |
|
$ |
.56 |
|
Diluted |
|
$ |
.76 |
|
$ |
.56 |
|
|
|
|
|
|
|
|
|
Average shares outstanding (millions): |
|
|
|
|
|
|
|
Basic |
|
|
1,060 |
|
|
1,096 |
|
Diluted |
|
|
1,074 |
|
|
1,111 |
|
|
|
|
|
|
|
|
|
Cash dividends declared per share of common stock |
|
$ |
.30 |
|
$ |
.28 |
|
|
|
|
|
|
|
|
|
Percentage of revenue: |
|
|
|
|
|
|
|
Gross profit |
|
|
58.4% |
|
|
54.8% |
|
R&D |
|
|
9.5% |
|
|
11.3% |
|
SG&A |
|
|
13.2% |
|
|
14.4% |
|
Operating profit |
|
|
33.6% |
|
|
26.0% |
