Capital expenditures for the past 12 months were 4 percent of revenue. The company's long-term expectation is about 4 percent.
Cash return
Amounts are in millions of dollars.
|
|
|
|
|
|
Trailing 12 Months |
|
| ||
|
|
|
2Q15 |
|
|
2Q15 |
|
2Q14 |
|
Change |
|
Dividends paid |
|
$ 354 |
|
|
$ 1,385 |
|
$ 1,282 |
|
8% |
|
Stock repurchases |
|
$ 654 |
|
|
$ 2,692 |
|
$ 2,931 |
|
-8% |
|
Total cash returned |
|
$ 1,008 |
|
|
$ 4,077 |
|
$ 4,213 |
|
-3% |
The company's targeted cash return is 100 percent of free cash flow plus proceeds from exercises of equity compensation minus net debt retirement.
|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
|
Consolidated Statements of Income | ||||||
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(Millions of dollars, except share and per-share amounts) | ||||||
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| ||||||
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|
|
For Three Months Ended | ||||
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|
|
June 30, | ||||
|
|
|
2015 |
|
2014 | ||
|
Revenue |
|
$ |
3,232 |
|
$ |
3,292 |
|
Cost of revenue (COR) |
|
|
1,351 |
|
|
1,411 |
|
Gross profit |
|
|
1,881 |
|
|
1,881 |
|
Research and development (R&D) |
|
|
320 |
|
|
349 |
|
Selling, general and administrative (SG&A) |
|
|
470 |
|
|
472 |
|
Acquisition charges |
|
|
82 |
|
|
82 |
|
Restructuring charges/other |
|
|
(1) |
|
|
(4) |
|
Operating profit |
|
|
1,010 |
|
|
982 |
|
Other income (expense), net (OI&E) |
|
|
3 |
|
|
3 |
|
Interest and debt expense |
|
|
24 |
|
|
24 |
|
Income before income taxes |
|
|
989 |
|
|
961 |
|
Provision for income taxes |
|
|
293 |
|
|
278 |
|
Net income |
|
$ |
696 |
|
$ |
683 |
|
|
|
|
|
|
|
|
|
Diluted earnings per common share |
|
$ |
.65 |
|
$ |
.62 |
|
|
|
|
|
|
|
|
|
Average diluted shares outstanding (millions) |
|
|
1,051 |
|
|
1,086 |
|
|
|
|
|
|
|
|
|
Cash dividends declared per common share |
|
$ |
.34 |
|
$ |
.30 |
|
|
|
|
|
|
|
|
|
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 |
|
$ |
696 |
|
$ |
683 |
|
Income allocated to RSUs |
|
|
(10) |
|
|
(10) |
|
Income allocated to common stock for diluted EPS |
|
$ |
686 |
|
$ |
673 |
