TI reports third quarter 2024 financial results and shareholder returns

 

Cash return





Trailing 12 Months

(In millions)


Q3 2024


Q3 2024


Q3 2023


Change 

Dividends paid


$

1,187


$

4,736


$

4,499


5 %

Stock repurchases


$

318


$

457


$

1,076


(58) %

Total cash returned


$

1,505


$

5,193


$

5,575


(7) %

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Statements of Income


For Three Months Ended

September 30,

(In millions, except per-share amounts)


2024


2023

Revenue


$

4,151


$

4,532

Cost of revenue (COR)



1,677



1,717

Gross profit



2,474



2,815

Research and development (R&D)



492



471

Selling, general and administrative (SG&A)



428



452

Operating profit



1,554



1,892

Other income (expense), net (OI&E)



131



128

Interest and debt expense



131



98

Income before income taxes



1,554



1,922

Provision for income taxes



192



213

Net income


$

1,362


$

1,709








Diluted earnings per common share


$

1.47


$

1.85








Average shares outstanding:







   Basic



913



908

   Diluted



920



916








Cash dividends declared per common share


$

1.30


$

1.24








Supplemental Information

(Quarterly, except as noted)








Provision for income taxes is based on the following:




Operating taxes (calculated using the estimated annual effective tax rate)


$

227


$

229

Discrete tax items



(35)



(16)

Provision for income taxes (effective taxes)


$

192


$

213








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


$

1,362


$

1,709

Income allocated to RSUs



(7)



(10)

Income allocated to common stock for diluted EPS


$

1,355


$

1,699


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