TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For Three Months Ended

March 31,

(In millions)

2022

2021

Cash flows from operating activities

     Net income

$

2,201

$

1,753

     Adjustments to net income:

         Depreciation

200

179

         Amortization of acquisition-related intangibles

—

47

         Amortization of capitalized software

14

15

         Stock compensation

74

61

         Gains on sales of assets

(2)

(1)

         Deferred taxes

(1)

8

     Increase (decrease) from changes in:

         Accounts receivable

(94)

(170)

         Inventories

(150)

65

         Prepaid expenses and other current assets

21

73

         Accounts payable and accrued expenses

11

69

         Accrued compensation

(388)

(379)

         Income taxes payable

284

131

     Changes in funded status of retirement plans

21

28

     Other

(47)

(29)

Cash flows from operating activities

2,144

1,850

Cash flows from investing activities

     Capital expenditures

(443)

(308)

     Proceeds from asset sales

2

1

     Purchases of short-term investments

(3,988)

(2,782)

     Proceeds from short-term investments

2,774

2,000

     Other

(13)

(20)

Cash flows from investing activities

(1,668)

(1,109)

Cash flows from financing activities

     Repayment of debt

—

(550)

     Dividends paid

(1,063)

(940)

     Stock repurchases

(589)

(100)

     Proceeds from common stock transactions

57

196

     Other

(7)

(12)

Cash flows from financing activities

(1,602)

(1,406)

Net change in cash and cash equivalents

(1,126)

(665)

Cash and cash equivalents at beginning of period

4,631

3,107

Cash and cash equivalents at end of period

$

3,505

$

2,442