3Q18

3Q17

  變化

營業(yè)收入

$

4,261

$

4,116

4%

營業(yè)利潤

$

1,937

$

1,788

8%

凈收入

$

1,570

$

1,285

22%

每股收益

$

1.58

$

1.26

25%

最近連續(xù)12個(gè)月

3Q18

3Q18

3Q17

  變化

經(jīng)營現(xiàn)金流

$

2,106

$

6,973

$

4,821

45%

資本支出

$

370

$

1,039

$

574

81%

自由現(xiàn)金流

$

1,736

$

5,934

$

4,247

40%

自由現(xiàn)金流占營業(yè)收入百分比

37.5%

29.0%

最近連續(xù)12個(gè)月

3Q18

3Q18

3Q17

   變化

分派股息

$

602

$

2,430

$

1,992

22%

股票回購

$

1,200

$

3,797

$

2,325

63%

總現(xiàn)金回報(bào)

$

1,802

$

6,227

$

4,317

44%

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

(Millions of dollars, except share and per-share amounts)

For Three Months Ended

2018

2017

Revenue

$

4,261

$

4,116

Cost of revenue (COR)

1,457

1,460

Gross profit

2,804

2,656

Research and development (R&D)

390

375

Selling, general and administrative (SG&A)

396

412

Acquisition charges

80

80

Restructuring charges/other

1

1

Operating profit 

1,937

1,788

Other income (expense), net (OI&E)

23

20

Interest and debt expense

36

19

Income before income taxes

1,924

1,789

Provision for income taxes

354

504

Net income

$

1,570

$

1,285

Diluted earnings per common share

$

1.58

$

1.26

Average shares outstanding (millions):

Basic

969

988

Diluted

989

1,008

Cash dividends declared per common share

$

.62

$

.50

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)

$

367

$

542

Discrete tax items

(38)

Provision for income taxes (effective taxes) 

$

354

$

504

Annual operating tax rate

20%

31%

Effective tax rate

18%

28%

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

$

1,570

$

1,285

Income allocated to RSUs

(11)

(11)

Income allocated to common stock for diluted EPS

$

1,559

$

1,274

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES
Consolidated Balance Sheets
(Millions of dollars, except share amounts)

September 30,

2017

Assets

Current assets:

Cash and cash equivalents

$

1,502

$

1,296

Short-term investments 

3,611

2,148

Accounts receivable, net of allowances of ($13) and ($14)

1,585

1,576

Raw materials

171

120

Work in process

1,058

1,103

Finished goods

887

685

Inventories

2,116

1,908

Prepaid expenses and other current assets

654

1,063

Total current assets

9,468

7,991

Property, plant and equipment at cost

5,250

4,668

Accumulated depreciation

(2,199)

(2,101)

Property, plant and equipment

3,051

2,567

Long-term investments

278

258

Goodwill

4,362

4,362

Acquisition-related intangibles

707

1,025

Deferred income taxes

243

414

Capitalized software licenses

94

111

Overfunded retirement plans

220

112

Other long-term assets

150

89

Total assets 

$

18,573

$

16,929

Liabilities and stockholders’ equity

Current liabilities:

Current portion of long-term debt

$

749

$

499

Accounts payable

492

430

Accrued compensation

613

635

Income taxes payable

104

74

Accrued expenses and other liabilities

424

417

Total current liabilities

2,382

2,055

Long-term debt

4,318

3,084

Underfunded retirement plans

86

108

Deferred tax liabilities

43

38

Other long-term liabilities

1,228

656

Total liabilities 

8,057

5,941

Stockholders’ equity:

Preferred stock, $25 par value. Authorized - 10,000,000
shares  

Participating cumulative preferred - None issued

-

-

Common stock, $1 par value. Authorized - 2,400,000,000
shares

Shares issued - 1,740,815,939

1,741

1,741

Paid-in capital

1,918

1,718

Retained earnings

37,378

34,935

Treasury common stock at cost

Shares: September 30, 2018 - 775,952,837;
September 30, 2017 - 754,459,144

(30,167)

(26,901)

Accumulated other comprehensive income (loss),
net of taxes (AOCI)

(354)

(505)

Total stockholders’ equity

10,516

10,988

Total liabilities and stockholders’ equity

$

18,573

$

16,929

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(Millions of dollars)

For Three Months Ended

2018

2017

Cash flows from operating activities

Net income

$

1,570

$

1,285

Adjustments to Net income:

Depreciation

151

133

Amortization of acquisition-related intangibles

80

80

Amortization of capitalized software

12

12

Stock compensation

46

54

Deferred taxes

(52)

(2)

Increase (decrease) from changes in:

Accounts receivable

(34)

(106)

Inventories

(26)

39

Prepaid expenses and other current assets

151

31

Accounts payable and accrued expenses

51

47

Accrued compensation

137

140

Income taxes payable

22

10

Changes in funded status of retirement plans

12

31

Other

(14)

(32)

Cash flows from operating activities

2,106

1,722

Cash flows from investing activities

Capital expenditures

(370)

(186)

Purchases of short-term investments

(3,099)

(1,218)

Proceeds from short-term investments

1,715

920

Other

(14)

(4)

Cash flows from investing activities

(1,768)

(488)

Cash flows from financing activities

Dividends paid

(602)

(495)

Stock repurchases

(1,200)

(650)

Proceeds from common stock transactions

55

76

Other

(8)

(9)

Cash flows from financing activities

(1,755)

(1,078)

Net change in Cash and cash equivalents

(1,417)

156

Cash and cash equivalents at beginning of period

2,919

1,140

Cash and cash equivalents at end of period

$

1,502

$

1,296

3Q18

3Q17

變化

模擬：

               營業(yè)收入

$

2,907

$

2,698

8%

               營業(yè)利潤

$

1,447

$

1,268

14%

嵌入式處理：

              營業(yè)收入

$

894

$

931

              營業(yè)利潤

$

309

$

325

(5)%

其它：

              營業(yè)收入

$

460

$

487

(6)%

              營業(yè)利潤*

$

181

$

195

(7)%

For 12 Months Ended

September 30,

2018

Change

Cash flow from operations (GAAP)

$

6,973

$

4,821

45%

Capital expenditures

(1,039)

(574)

Free cash flow (non-GAAP)

$

5,934

$

4,247

40%

Revenue

$

15,817

$

14,625

Cash flow from operations as a percent of revenue (GAAP)

44.1%

33.0%

Free cash flow as a percent of revenue (non-GAAP)

37.5%

29.0%