$TXN
Texas Instruments Inc

2017 Q1 Form 10-Q Financial Statement

#000156459017008260 Filed on May 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $3.402B $3.008B
YoY Change 13.1% -4.51%
Cost Of Revenue $1.258B $1.179B
YoY Change 6.7% -11.62%
Gross Profit $2.144B $1.829B
YoY Change 17.22% 0.72%
Gross Profit Margin 63.02% 60.8%
Selling, General & Admin $439.0M $441.0M
YoY Change -0.45% 0.46%
% of Gross Profit 20.48% 24.11%
Research & Development $369.0M $322.0M
YoY Change 14.6% -4.73%
% of Gross Profit 17.21% 17.61%
Depreciation & Amortization $230.0M $161.0M
YoY Change 42.86% -20.69%
% of Gross Profit 10.73% 8.8%
Operating Expenses $888.0M $843.0M
YoY Change 5.34% 8.49%
Operating Profit $1.252B $984.0M
YoY Change 27.24% 2.71%
Interest Expense -$18.00M -$22.00M
YoY Change -18.18% 0.0%
% of Operating Profit -1.44% -2.24%
Other Income/Expense, Net $21.00M -$12.00M
YoY Change -275.0% -400.0%
Pretax Income $1.255B $950.0M
YoY Change 32.11% 1.06%
Income Tax $258.0M $239.0M
% Of Pretax Income 20.56% 25.16%
Net Earnings $997.0M $711.0M
YoY Change 40.23% 8.38%
Net Earnings / Revenue 29.31% 23.64%
Basic Earnings Per Share $0.99 $0.70
Diluted Earnings Per Share $0.97 $0.69
COMMON SHARES
Basic Shares Outstanding 999.6M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.049B $2.800B
YoY Change 8.89% -15.25%
Cash & Equivalents $1.073B $1.281B
Short-Term Investments $1.976B $1.519B
Other Short-Term Assets $811.0M $785.0M
YoY Change 3.31% -31.74%
Inventory $1.843B $1.805B
Prepaid Expenses
Receivables $1.337B $1.269B
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.040B $6.659B
YoY Change 5.72% -13.43%
LONG-TERM ASSETS
Property, Plant & Equipment $2.501B $2.554B
YoY Change -2.08% -7.4%
Goodwill $4.362B
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $264.0M $220.0M
YoY Change 20.0% -5.17%
Other Assets $511.0M $76.00M
YoY Change 572.37% -27.62%
Total Long-Term Assets $8.938B $9.027B
YoY Change -0.99% -6.49%
TOTAL ASSETS
Total Short-Term Assets $7.040B $6.659B
Total Long-Term Assets $8.938B $9.027B
Total Assets $15.98B $15.69B
YoY Change 1.86% -9.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $429.0M $387.0M
YoY Change 10.85% -10.42%
Accrued Expenses $718.0M $717.0M
YoY Change 0.14% -7.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $378.0M $1.249B
YoY Change -69.74% 24.9%
Total Short-Term Liabilities $1.602B $2.420B
YoY Change -33.8% 5.86%
LONG-TERM LIABILITIES
Long-Term Debt $2.980B $2.869B
YoY Change 3.87% -21.14%
Other Long-Term Liabilities $721.0M $577.0M
YoY Change 24.96% -11.23%
Total Long-Term Liabilities $3.701B $2.869B
YoY Change 29.0% -21.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.602B $2.420B
Total Long-Term Liabilities $3.701B $2.869B
Total Liabilities $5.339B $5.904B
YoY Change -9.57% -15.38%
SHAREHOLDERS EQUITY
Retained Earnings $31.46B
YoY Change 5.04%
Common Stock $3.299B
YoY Change 4.7%
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.44B
YoY Change 10.11%
Treasury Stock Shares $734.2M
Shareholders Equity $10.64B $9.782B
YoY Change
Total Liabilities & Shareholders Equity $15.98B $15.69B
YoY Change 1.86% -9.57%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $997.0M $711.0M
YoY Change 40.23% 8.38%
Depreciation, Depletion And Amortization $230.0M $161.0M
YoY Change 42.86% -20.69%
Cash From Operating Activities $795.0M $653.0M
YoY Change 21.75% 7.22%
INVESTING ACTIVITIES
Capital Expenditures $127.0M $124.0M
YoY Change 2.42% 0.81%
Acquisitions
YoY Change
Other Investing Activities $9.000M $3.000M
YoY Change 200.0%
Cash From Investing Activities $267.0M $573.0M
YoY Change -53.4% 262.66%
FINANCING ACTIVITIES
Cash Dividend Paid $383.0M
YoY Change 7.58%
Common Stock Issuance & Retirement, Net $630.0M
YoY Change -5.97%
Debt Paid & Issued, Net $250.0M
YoY Change
Cash From Financing Activities -1.143B -945.0M
YoY Change 20.95% 30.52%
NET CHANGE
Cash From Operating Activities 795.0M 653.0M
Cash From Investing Activities 267.0M 573.0M
Cash From Financing Activities -1.143B -945.0M
Net Change In Cash -81.00M 281.0M
YoY Change -128.83% 553.49%
FREE CASH FLOW
Cash From Operating Activities $795.0M $653.0M
Capital Expenditures $127.0M $124.0M
Free Cash Flow $668.0M $529.0M
YoY Change 26.28% 8.85%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
1000000
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
1000000
CY2017Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
11000000
CY2017Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
97000000
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
129000000
CY2017Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
68000000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
100000000
CY2017Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
53000000
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
114000000
CY2017Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
71000000
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-43000000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-78000000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-41000000
CY2017Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-356000000
CY2016Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-322000000
CY2016Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
200000000
CY2017Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
9000000
CY2016Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
8000000
CY2016Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
24000000
CY2017Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
149000000
CY2016Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
131000000
CY2017Q1 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-14000000
CY2016Q1 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
18000000
CY2017Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
18000000
CY2016Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
18000000
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
795000000
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
653000000
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
127000000
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
124000000
CY2017Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
40000000
CY2017Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
757000000
CY2017Q1 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
1120000000
CY2016Q1 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
900000000
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
9000000
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3000000
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2016Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
267000000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
573000000
CY2017Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
250000000
CY2016Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
0
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4000000
CY2016Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0
CY2017Q1 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Indemnification guarantees</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We routinely sell products with an intellectual property indemnification included in the terms of sale. Historically, we have had only minimal, infrequent losses associated with these indemnities. Consequently, we cannot reasonably estimate any future liabilities that may result. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Warranty costs/product liabilities</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We accrue for known product-related claims if a loss is probable and can be reasonably estimated. During the periods presented, there have been no material accruals or payments regarding product warranty or product liability. Historically, we have experienced a low rate of payments on product claims. Although we cannot predict the&#160;likelihood or amount of any future claims, we do not believe they will have a material adverse effect on our financial condition, results of operations or liquidity. Our stated warranties for semiconductor products obligate us to repair, replace or credit the purchase price of a covered product back to the buyer. Product claim consideration may exceed the price of our products.</p></div>
CY2017Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
10000000
CY2016Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
9000000
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
987000000
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
702000000
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
21000000
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
15000000
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6000000
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22000000
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
40000000
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
4000000
CY2017Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
4000000
CY2017Q1 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
1000000
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
39000000
CY2017Q1 txn Estimated Annual Effective Income Tax Rate Continuing Operations
EstimatedAnnualEffectiveIncomeTaxRateContinuingOperations
0.30
CY2017Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017Q1 txn Income Tax Reconciliation Income Tax Expense Benefit At Estimated Annual Effective Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtEstimatedAnnualEffectiveIncomeTaxRate
382000000
CY2016Q1 txn Income Tax Reconciliation Income Tax Expense Benefit At Estimated Annual Effective Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtEstimatedAnnualEffectiveIncomeTaxRate
281000000
CY2017Q1 txn Income Tax Reconciliation Discrete Tax Items
IncomeTaxReconciliationDiscreteTaxItems
124000000
CY2016Q1 txn Income Tax Reconciliation Discrete Tax Items
IncomeTaxReconciliationDiscreteTaxItems
42000000
CY2016Q1 txn Estimated Annual Effective Income Tax Rate Continuing Operations
EstimatedAnnualEffectiveIncomeTaxRateContinuingOperations
0.30
CY2017Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25
CY2017Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
1073000000
CY2016Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
1154000000
CY2017Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0
CY2016Q1 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0
CY2017Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
2811000000
CY2017Q1 txn Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
10000000
CY2017Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2016Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2017Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2940000000
CY2017Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1756000000
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2940000000
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1676000000
CY2017Q1 us-gaap Commercial Paper
CommercialPaper
0
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
250000000
CY2017Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3375000000
CY2016Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3625000000
CY2017Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
17000000
CY2016Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
16000000
CY2017Q1 us-gaap Long Term Debt
LongTermDebt
3358000000
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
3609000000
CY2017Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
8880773

Files In Submission

Name View Source Status
0001564590-17-008260-index-headers.html Edgar Link pending
0001564590-17-008260-index.html Edgar Link pending
0001564590-17-008260.txt Edgar Link pending
0001564590-17-008260-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
txn-10q_20170331.htm Edgar Link pending
txn-20170331.xml Edgar Link completed
txn-20170331.xsd Edgar Link pending
txn-20170331_cal.xml Edgar Link unprocessable
txn-20170331_def.xml Edgar Link unprocessable
txn-20170331_lab.xml Edgar Link unprocessable
txn-20170331_pre.xml Edgar Link unprocessable
txn-ex31a_8.htm Edgar Link pending
txn-ex31b_6.htm Edgar Link pending
txn-ex32a_9.htm Edgar Link pending
txn-ex32b_7.htm Edgar Link pending