Capital expenditures for the past 12 months were 4 percent of revenue. The company's long-term expectation is about 4 percent.
Cash return
Amounts are in millions of dollars.
|
|
|
|
|
Trailing 12 Months |
|
| ||
|
|
|
3Q15 |
|
3Q15 |
|
3Q14 |
|
Change |
|
Dividends paid |
|
$ 348 |
|
$ 1,414 |
|
$ 1,293 |
|
9% |
|
Stock repurchases |
|
$ 790 |
|
$ 2,812 |
|
$ 2,867 |
|
-2% |
|
Total cash returned |
|
$ 1,138 |
|
$ 4,226 |
|
$ 4,160 |
|
2% |
The company's targeted cash return is 100 percent of free cash flow plus proceeds from exercises of equity compensation minus net debt retirement.
|
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, |
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|
|
|
2015 |
|
2014 |
| ||
|
Revenue |
|
$ |
3,429 |
|
$ |
3,501 |
|
|
Cost of revenue (COR) |
|
|
1,432 |
|
|
1,457 |
|
|
Gross profit |
|
|
1,997 |
|
|
2,044 |
|
|
Research and development (R&D) |
|
|
316 |
|
|
332 |
|
|
Selling, general and administrative (SG&A) |
|
|
434 |
|
|
463 |
|
|
Acquisition charges |
|
|
83 |
|
|
83 |
|
|
Restructuring charges/other |
|
|
— |
|
|
(9) |
|
|
Operating profit |
|
|
1,164 |
|
|
1,175 |
|
|
Other income (expense), net (OI&E) |
|
|
6 |
|
|
3 |
|
|
Interest and debt expense |
|
|
22 |
|
|
23 |
|
|
Income before income taxes |
|
|
1,148 |
|
|
1,155 |
|
|
Provision for income taxes |
|
|
350 |
|
|
329 |
|
|
Net income |
|
$ |
798 |
|
$ |
826 |
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per common share |
|
$ |
.76 |
|
$ |
.76 |
|
|
|
|
|
|
|
|
|
|
|
Average diluted shares outstanding (millions) |
|
|
1,035 |
|
|
1,074 |
|
|
|
|
|
|
|
|
|
|
|
Cash dividends declared per common share |
|
$ |
.34 |
|
$ |
.30 |
|
|
|
|
|
|
|
|
|
|
|
As a result of accounting rule ASC 260, which requires a portion of Net income to be allocated to unvested restricted stock units (RSUs) on which we pay dividend equivalents, diluted EPS is calculated using the following: |
| ||||||
|
| |||||||
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
798 |
|
$ |
826 |
|
|
Income allocated to RSUs |
|
|
(11) |
|
|
(13) |
|
|
Income allocated to common stock for diluted EPS |
|
$ |
787 |
|
$ |
813 |
|
