|
TEXAS INSTRUMENTS INCORPORATED (Millions of dollars) | ||||||||||||||||
|
|
| |||||||||||||||
|
|
For Three Months Ended |
|
| |||||||||||||
|
|
|
|
|
|
|
| ||||||||||
|
|
|
Sept. 30, 2013 |
|
Jun. 30, 2013 |
|
Change | ||||||||||
|
|
|
|
|
|
|
| ||||||||||
|
Revenue (GAAP) |
|
$ 3,244 |
|
$ 3,047 |
|
6% | ||||||||||
|
Less legacy wireless revenue |
|
57 |
|
148 |
|
| ||||||||||
|
TI Revenue less legacy wireless revenue (non-GAAP) |
|
$ 3,187 |
|
$ 2,899 |
|
10% | ||||||||||
|
|
|
| ||||||||||||||
|
|
|
| ||||||||||||||
|
|
|
For Three Months Ended |
|
| ||||||||||||
|
|
|
|
|
|
|
| ||||||||||
|
|
|
Dec. 31, 2013 (Expected) |
|
Dec. 31, 2012 |
|
Change | ||||||||||
|
|
|
|
|
|
|
| ||||||||||
|
Revenue (GAAP) |
|
$ 2,980 |
(a) |
$ 2,979 |
|
0% | ||||||||||
|
Less legacy wireless revenue |
|
50 |
|
270 |
|
| ||||||||||
|
TI Revenue less legacy wireless revenue (non-GAAP) |
|
$ 2,930 |
|
$ 2,709 |
|
8% | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
(a) |
Represents the mid-point of the revenue guidance of $2.86 – 3.10 billion provided in the Outlook section of this release. The amount was determined by calculating the average of the low point and high point of that range. | |||||||||||||||
Free cash flow
This release also includes references to free cash flow and various ratios based on that measure. These are financial measures that were not prepared in accordance with GAAP. Free cash flow was calculated by subtracting Capital expenditures from the most directly comparable GAAP measure of Cash flow from operating activities (also referred to as Cash flow from operations).
The free cash flow measures were compared to the following GAAP items to determine the various non-GAAP ratios presented below and referred to in the release: Revenue, Dividends paid and Stock repurchases. Reconciliation to the most directly comparable GAAP-based ratios is provided in the table below.
The company believes these non-GAAP measures provide insight into its liquidity, its cash-generating capability and the amount of cash available to return to investors as well as insight into its financial performance. These non-GAAP measures are supplemental to the comparable GAAP measures.
|
TEXAS INSTRUMENTS INCORPORATED (Millions of dollars) | ||||||||
|
| ||||||||
|
|
|
For the Twelve Months Ended Sept. 30, 2013 |
|
Percentage of Revenue |
|
For the Twelve Months Ended Sept. 30, 2012 |
|
Percentage of Revenue |
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
$ 12,155 |
|
|
|
$ 13,266 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow from operations (GAAP) |
|
$ 3,270 |
|
27% |
|
$ 3,298 |
|
25% |
|
Less Capital expenditures |
|
402 |
|
3% |
|
551 |
|
4% |
|
Free cash flow (non-GAAP) |
|
$ 2,868 |
|
24% |
|
$ 2,747 |
|
21% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Twelve Months Ended Sept. 30, 2013 |
|
Percentage of Cash Flow from Operations (GAAP) |
|
Percentage of Free Cash Flow (Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid |
|
$ 1,084 |
|
33% |
|
38% |
|
|
|
Stock repurchases |
|
2,734 |
|
84% |
|
95% |
|
|
|
Total cash returned to shareholders |
|
$ 3,818 |
|
117% |
|
133% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
