10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 5, 2021) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenue | $ 14,461 | 14,383 | 15,784 |
| Cost of revenue (COR) | 5,192 | 5,219 | 5,507 |
| Gross profit | 9,269 | 9,164 | 10,277 |
| Research and development (R&D) | 1,530 | 1,544 | 1,559 |
| Selling, general and administrative (SG&A) | 1,623 | 1,645 | 1,684 |
| Acquisition charges | 198 | 288 | 318 |
| Restructuring charges/other | 24 | (36) | 3 |
| Operating profit | 5,894 | 5,723 | 6,713 |
| Other income (expense), net (OI&E) | 313 | 175 | 98 |
| Interest and debt expense | 190 | 170 | 125 |
| Income before income taxes | 6,017 | 5,728 | 6,686 |
| Provision for income taxes | 422 | 711 | 1,106 |
| Net income | 5,595 | 5,017 | 5,580 |
| Earnings per common share (EPS): | |||
| Basic (in dollars per share) | 6.05 | 5.33 | 5.71 |
| Diluted (in dollars per share) | 5.97 | 5.24 | 5.59 |
| Average shares outstanding (millions): | |||
| Basic (in shares) | 921 | 936 | 970 |
| Diluted (in shares) | 933 | 952 | 990 |
| Diluted EPS: | |||
| Net income | 5,595 | 5,017 | 5,580 |
| Income allocated to RSUs | (27) | (31) | (42) |
| Income allocated to common stock for diluted EPS | 5,568 | 4,986 | 5,538 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 5, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 5,595 | 5,017 | 5,580 |
| Other comprehensive income (loss) | |||
| Net actuarial losses of defined benefit plans: | |||
| Adjustments, net of tax effect of $3, ($37) and $35 | (41) | 88 | (98) |
| Recognized within net income, net of tax effect of ($9), ($13) and ($15) | 29 | 38 | 50 |
| Prior service credit of defined benefit plans: | |||
| Adjustments, net of tax effect of $0, $0 and $1 | 0 | 0 | (6) |
| Recognized within net income, net of tax effect of $0, $0 and $1 | (1) | 0 | (3) |
| Derivative instruments: | |||
| Change in fair value, net of tax effect of $0, $1 and $0 - post adoption | 0 | 0 | |
| Change in fair value, net of tax effect of $0, $1 and $0 - pre adoption | (2) | ||
| Other comprehensive income (loss), net of taxes | (13) | 126 | (59) |
| Total comprehensive income | 5,582 | 5,143 | 5,521 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 5, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash flows from operating activities | |||
| Net income | $ 5,595 | 5,017 | 5,580 |
| Adjustments to net income: | |||
| Depreciation | 733 | 708 | 590 |
| Amortization of acquisition-related intangibles | 198 | 288 | 318 |
| Amortization of capitalized software | 61 | 54 | 46 |
| Stock compensation | 224 | 217 | 232 |
| Gains on sales of assets | (4) | (23) | (3) |
| Deferred taxes | (137) | 81 | (105) |
| Increase (decrease) from changes in: | |||
| Accounts receivable | (340) | 133 | 71 |
| Inventories | 46 | 216 | (282) |
| Prepaid expenses and other current assets | (79) | 265 | 669 |
| Accounts payable and accrued expenses | 63 | (93) | (7) |
| Accrued compensation | 63 | (15) | (7) |
| Income taxes payable | (181) | (193) | 158 |
| Changes in funded status of retirement plans | (9) | 29 | 36 |
| Other | (94) | (35) | (107) |
| Cash flows from operating activities | 6,139 | 6,649 | 7,189 |
| Cash flows from investing activities | |||
| Capital expenditures | (649) | (847) | (1,131) |
| Proceeds from asset sales | 4 | 30 | 9 |
| Purchases of short-term investments | (5,786) | (3,444) | (5,641) |
| Proceeds from short-term investments | 5,545 | 2,309 | 6,708 |
| Other | (36) | 32 | (23) |
| Cash flows from investing activities | (922) | (1,920) | (78) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 1,498 | 1,491 | 1,500 |
| Repayment of debt | (500) | (750) | (500) |
| Dividends paid | (3,426) | (3,008) | (2,555) |
| Stock repurchases | (2,553) | (2,960) | (5,100) |
| Proceeds from common stock transactions | 470 | 539 | 373 |
| Other | (36) | (42) | (47) |
| Cash flows from financing activities | (4,547) | (4,730) | (6,329) |
| Net change in cash and cash equivalents | 670 | (1) | 782 |
| Cash and cash equivalents at beginning of period | 2,437 | 2,438 | |
| Cash and cash equivalents at end of period | 3,107 | 2,437 | 2,438 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
TEXAS INSTRUMENTS INC | ||
Ticker: TXN Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 5, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 3,107 | 2,437 |
| Short-term investments | 3,461 | 2,950 |
| Accounts receivable, net of allowances of ($11) and ($8) | 1,414 | 1,074 |
| Raw materials | 180 | 176 |
| Work in process | 964 | 916 |
| Finished goods | 811 | 909 |
| Inventories | 1,955 | 2,001 |
| Prepaid expenses and other current assets | 302 | 299 |
| Total current assets | 10,239 | 8,761 |
| Property, plant and equipment at cost | 5,781 | 5,740 |
| Accumulated depreciation | (2,512) | (2,437) |
| Property, plant and equipment | 3,269 | 3,303 |
| Long-term investments | 49 | 300 |
| Goodwill | 4,362 | 4,362 |
| Acquisition-related intangibles | 152 | 340 |
| Deferred tax assets | 343 | 197 |
| Capitalized software licenses | 122 | 69 |
| Overfunded retirement plans | 246 | 218 |
| Other long-term assets | 569 | 468 |
| Total assets | 19,351 | 18,018 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Current portion of long-term debt | 550 | 500 |
| Accounts payable | 415 | 388 |
| Accrued compensation | 767 | 714 |
| Income taxes payable | 134 | 46 |
| Accrued expenses and other liabilities | 524 | 475 |
| Total current liabilities | 2,390 | 2,123 |
| Long-term debt | 6,248 | 5,303 |
| Underfunded retirement plans | 131 | 93 |
| Deferred tax liabilities | 90 | 78 |
| Other long-term liabilities | 1,305 | 1,514 |
| Total liabilities | 10,164 | 9,111 |
| Stockholders equity: | ||
| Preferred stock, $25 par value. Authorized - 10,000,000 shares Participating cumulative preferred - None issued. | 0 | 0 |
| Common stock, $1 par value. Authorized - 2,400,000,000 shares Shares issued - 1,740,815,939 | 1,741 | 1,741 |
| Paid-in capital | 2,333 | 2,110 |
| Retained earnings | 42,051 | 39,898 |
| Treasury common stock at cost Shares: 2020 - 821,461,787; 2019 - 808,784,381 | (36,578) | (34,495) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (360) | (347) |
| Total stockholders equity | 9,187 | 8,907 |
| Total liabilities and stockholders equity | 19,351 | 18,018 |
| External Links | |
| TEXAS INSTRUMENTS INC (TXN) Fiscal Year 2020 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |