TI reports third quarter 2024 financial results and shareholder returns

 

Segment results

(In millions)


Q3 2024


Q3 2023


Change 

Analog:









   Revenue


$

3,223


$

3,353


(4) %

   Operating profit


$

1,316


$

1,504


(13) %

Embedded Processing:









   Revenue


$

653


$

890


(27) %

   Operating profit


$

109


$

258


(58) %

Other:









   Revenue


$

275


$

289


(5) %

   Operating profit*


$

129


$

130


(1) %


    * Includes restructuring charges/other.

 

Non-GAAP financial information

This release includes references to free cash flow and ratios based on that measure. These are financial measures that were not prepared in accordance with GAAP. Free cash flow was calculated by subtracting capital expenditures from the most directly comparable GAAP measure, cash flows from operating activities (also referred to as cash flow from operations).

We believe that free cash flow and the associated ratios provide insight into our liquidity, our cash-generating capability and the amount of cash potentially available to return to shareholders, as well as insight into our financial performance. These non-GAAP measures are supplemental to the comparable GAAP measures.

Reconciliation to the most directly comparable GAAP measures is provided in the table below.



For 12 Months Ended

September 30,



(In millions)


2024


2023


Change 

Cash flow from operations (GAAP)*


$

6,244


$

6,538


(4) %

Capital expenditures



(4,776)



(4,890)



Free cash flow (non-GAAP)


$

1,468


$

1,648


(11) %










Revenue


$

15,711


$

18,112












Cash flow from operations as a percentage of revenue (GAAP)



39.7 %



36.1 %



Free cash flow as a percentage of revenue (non-GAAP)



9.3 %



9.1 %




* Includes a cash benefit of $532 million from the U.S. CHIPS and Science Act ITC used to reduce income taxes

payable for the twelve months ended September 30, 2024 .


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