Cash return
Amounts are in millions of dollars.
|
|
|
|
|
| Trailing 12 Months | ||||||
|
|
|
| 2Q19 |
|
| 2Q19 |
|
| 2Q18 |
| Change |
Dividends paid |
| $ | 722 |
| $ | 2,784 |
| $ | 2,323 |
| 20% |
Stock repurchases |
| $ | 863 |
| $ | 5,224 |
| $ | 3,247 |
| 61% |
Total cash returned |
| $ | 1,585 |
| $ | 8,008 |
| $ | 5,570 |
| 44% |
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
Consolidated Statements of Income | ||||||
(Millions of dollars, except share and per-share amounts) | ||||||
|
| ||||||
|
|
| For Three Months Ended | ||||
|
|
| June 30, | ||||
|
|
| 2019 |
| 2018 | ||
Revenue |
| $ | 3,668 |
| $ | 4,017 |
Cost of revenue (COR) |
|
| 1,308 |
|
| 1,398 |
Gross profit |
|
| 2,360 |
|
| 2,619 |
Research and development (R&D) |
|
| 390 |
|
| 384 |
Selling, general and administrative (SG&A) |
|
| 420 |
|
| 441 |
Acquisition charges |
|
| 80 |
|
| 79 |
Restructuring charges/other |
|
| (36) |
|
| 3 |
Operating profit |
|
| 1,506 |
|
| 1,712 |
Other income (expense), net (OI&E) |
|
| 52 |
|
| 24 |
Interest and debt expense |
|
| 44 |
|
| 30 |
Income before income taxes |
|
| 1,514 |
|
| 1,706 |
Provision for income taxes |
|
| 209 |
|
| 301 |
Net income |
| $ | 1,305 |
| $ | 1,405 |
|
|
|
|
|
|
|
|
| Diluted earnings per common share |
| $ | 1.36 |
| $ | 1.40 |
|
|
|
|
|
|
|
|
| Average shares outstanding (millions): |
|
|
|
|
|
|
| Basic |
|
| 937 |
|
| 977 |
| Diluted |
|
| 953 |
|
| 997 |
|
|
|
|
|
|
|
|
| Cash dividends declared per common share |
| $ | .77 |
| $ | .62 |
|
|
|
|
|
|
|
|
|
| ||||||
| 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) |
| $ | 238 |
| $ | 344 |
| Discrete tax items |
|
| (29) |
|
| (43) |
| Provision for income taxes (effective taxes) |
| $ | 209 |
| $ | 301 |
|
| ||||||
| Annual operating tax rate |
|
| 16% |
|
| 20% |
| Effective tax rate |
|
| 14% |
|
| 18% |
|
| ||||||
| 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 |
| $ | 1,305 |
| $ | 1,405 |
| Income allocated to RSUs |
|
| (8) |
|
| (11) |
| Income allocated to common stock for diluted EPS |
| $ | 1,297 |
| $ | 1,394 |
