Cash return
Amounts are in millions of dollars.
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Trailing 12 Months | ||||||
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2Q18 |
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2Q18 |
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|
2Q17 |
|
Change |
Dividends paid |
|
$ |
606 |
|
$ |
2,323 |
|
$ |
1,879 |
|
24% |
Stock repurchases |
|
$ |
1,018 |
|
$ |
3,247 |
|
$ |
2,175 |
|
49% |
Total cash returned |
|
$ |
1,624 |
|
$ |
5,570 |
|
$ |
4,054 |
|
37% |
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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|
June 30, | ||||
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|
2018 |
|
2017 | ||
Revenue |
|
$ |
4,017 |
|
$ |
3,693 |
Cost of revenue (COR) |
|
|
1,398 |
|
|
1,319 |
Gross profit |
|
|
2,619 |
|
|
2,374 |
Research and development (R&D) |
|
|
384 |
|
|
378 |
Selling, general and administrative (SG&A) |
|
|
441 |
|
|
434 |
Acquisition charges |
|
|
79 |
|
|
79 |
Restructuring charges/other |
|
|
3 |
|
|
3 |
Operating profit |
|
|
1,712 |
|
|
1,480 |
Other income (expense), net (OI&E) |
|
|
24 |
|
|
26 |
Interest and debt expense |
|
|
30 |
|
|
20 |
Income before income taxes |
|
|
1,706 |
|
|
1,486 |
Provision for income taxes |
|
|
301 |
|
|
430 |
Net income |
|
$ |
1,405 |
|
$ |
1,056 |
|
|
|
|
|
|
|
Diluted earnings per common share |
|
$ |
1.40 |
|
$ |
1.03 |
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|
|
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|
|
Average shares outstanding (millions): |
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|
|
|
|
|
Basic |
|
|
977 |
|
|
994 |
Diluted |
|
|
997 |
|
|
1,015 |
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|
|
|
|
|
Cash dividends declared per common share |
|
$ |
.62 |
|
$ |
.50 |
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Supplemental Information | ||||||
(Quarterly, except as noted) | ||||||
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Provision for income taxes is based on the following: | ||||||
| ||||||
Operating taxes (calculated using the estimated annual effective tax rate) |
|
$ |
344 |
|
$ |
458 |
Discrete tax items |
|
|
(43) |
|
|
(28) |
Provision for income taxes (effective taxes) |
|
$ |
301 |
|
$ |
430 |
| ||||||
Annual operating tax rate |
|
|
20% |
|
|
31% |
Effective tax rate |
|
|
18% |
|
|
29% |
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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 |
|
$ |
1,405 |
|
$ |
1,056 |
Income allocated to RSUs |
|
|
(11) |
|
|
(10) |
Income allocated to common stock for diluted EPS |
|
$ |
1,394 |
|
$ |
1,046 |