Capital expenditures for the past 12 months were 4 percent of revenue, consistent with TI's long-term expectations.
Cash return
Amounts are in millions of dollars.
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|
|
|
Trailing 12 Months | |||||||
|
|
3Q16 |
|
3Q16 |
|
3Q15 |
|
Change | |||
Dividends paid |
|
$ 382 |
|
$ 1,533 |
|
$ 1,414 |
|
8% | |||
Stock repurchases |
|
$ 500 |
|
$ 2,284 |
|
$ 2,812 |
|
-19% | |||
Total cash returned |
|
$ 882 |
|
$ 3,817 |
|
$ 4,226 |
|
-10% |
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | |||||||
Consolidated Statements of Income | |||||||
(Millions of dollars, except share and per-share amounts) | |||||||
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For Three Months Ended |
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|
September 30, |
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|
2016 |
|
2015 |
| ||
Revenue |
|
$ |
3,675 |
|
$ |
3,429 |
|
Cost of revenue (COR) |
|
|
1,395 |
|
|
1,432 |
|
Gross profit |
|
|
2,280 |
|
|
1,997 |
|
Research and development (R&D) |
|
|
356 |
|
|
316 |
|
Selling, general and administrative (SG&A) |
|
|
448 |
|
|
434 |
|
Acquisition charges |
|
|
80 |
|
|
83 |
|
Restructuring charges/other |
|
|
1 |
|
|
— |
|
Operating profit |
|
|
1,395 |
|
|
1,164 |
|
Other income (expense), net (OI&E) |
|
|
4 |
|
|
6 |
|
Interest and debt expense |
|
|
18 |
|
|
22 |
|
Income before income taxes |
|
|
1,381 |
|
|
1,148 |
|
Provision for income taxes |
|
|
413 |
|
|
350 |
|
Net income |
|
$ |
968 |
|
$ |
798 |
|
|
|
|
|
|
|
|
|
Diluted earnings per common share |
|
$ |
.94 |
|
$ |
.76 |
|
|
|
|
|
|
|
|
|
Average diluted shares outstanding (millions) |
|
|
1,017 |
|
|
1,035 |
|
|
|
|
|
|
|
|
|
Cash dividends declared per common share |
|
$ |
.38 |
|
$ |
.34 |
|
|
|
|
|
|
|
|
|
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 |
|
$ |
968 |
|
$ |
798 |
|
Income allocated to RSUs |
|
|
(11) |
|
|
(11) |
|
Income allocated to common stock for diluted EPS |
|
$ |
957 |
|
$ |
787 |
|