Trailing 12 Months

1Q14

1Q14

1Q13

Change

Dividends paid

$     325

$ 1,268

$    856

48%

Stock repurchases

$     720

$ 2,909

$ 2,179

34%

Total cash returned

$  1,045

$ 4,177

$ 3,035

38%

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

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

For Three Months Ended Mar. 31,

2014

2013

Revenue

$          2,983

$           2,885

Cost of revenue

1,376

1,511

Gross profit

1,607

1,374

Research and development (R&D)

366

419

Selling, general and administrative (SG&A)

479

459

Acquisition charges

83

86

Restructuring charges/other

(11)

15

Operating profit

690

395

Other income (expense), net

6

2

Interest and debt expense

25

23

Income before income taxes

671

374

Provision for income taxes

184

12

Net income

$             487

$              362

Earnings per common share:

  Basic

$              .44

$               .32

  Diluted

$              .44

$               .32

Average shares outstanding (millions):

  Basic

1,081

1,107

  Diluted

1,096

1,123

Cash dividends declared per share of common stock

$              .30

$               .21

Percentage of revenue:

Gross profit

53.9%

47.6%

R&D

12.3%

14.5%

SG&A

16.1%

15.9%

Operating profit

23.1%

13.7%