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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 4, 2022) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenue | $ 18,344 | 14,461 | 14,383 |
| Cost of revenue (COR) | 5,968 | 5,192 | 5,219 |
| Gross profit | 12,376 | 9,269 | 9,164 |
| Research and development (R&D) | 1,554 | 1,530 | 1,544 |
| Selling, general and administrative (SG&A) | 1,666 | 1,623 | 1,645 |
| Acquisition charges | 142 | 198 | 288 |
| Restructuring charges/other | 54 | 24 | (36) |
| Operating profit | 8,960 | 5,894 | 5,723 |
| Other income (expense), net (OI&E) | 143 | 313 | 175 |
| Interest and debt expense | 184 | 190 | 170 |
| Income before income taxes | 8,919 | 6,017 | 5,728 |
| Provision for income taxes | 1,150 | 422 | 711 |
| Net income | 7,769 | 5,595 | 5,017 |
| Earnings per common share (EPS): | |||
| Basic (in dollars per share) | 8.38 | 6.05 | 5.33 |
| Diluted (in dollars per share) | 8.26 | 5.97 | 5.24 |
| Average shares outstanding: | |||
| Basic (in shares) | 923 | 921 | 936 |
| Diluted (in shares) | 936 | 933 | 952 |
| Diluted EPS: | |||
| Net income | 7,769 | 5,595 | 5,017 |
| Income allocated to RSUs | (33) | (27) | (31) |
| Income allocated to common stock for diluted EPS | 7,736 | 5,568 | 4,986 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 4, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 7,769 | 5,595 | 5,017 |
| Other comprehensive income (loss) | |||
| Net actuarial losses of defined benefit plans: | |||
| Adjustments, net of tax effect of ($56), $3 and ($37) | 175 | (41) | 88 |
| Recognized within net income, net of tax effect of ($8), ($9) and ($13) | 29 | 29 | 38 |
| Prior service credit of defined benefit plans: | |||
| Recognized within net income, net of tax effect of $0, $0 and $0 | (1) | (1) | 0 |
| Other comprehensive income (loss), net of taxes | 203 | (13) | 126 |
| Total comprehensive income | 7,972 | 5,582 | 5,143 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 4, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flows from operating activities | |||
| Net income | $ 7,769 | 5,595 | 5,017 |
| Adjustments to net income: | |||
| Depreciation | 755 | 733 | 708 |
| Amortization of acquisition-related intangibles | 142 | 198 | 288 |
| Amortization of capitalized software | 57 | 61 | 54 |
| Stock compensation | 230 | 224 | 217 |
| Gains on sales of assets | (57) | (4) | (23) |
| Deferred taxes | 15 | (137) | 81 |
| Increase (decrease) from changes in: | |||
| Accounts receivable | (287) | (340) | 133 |
| Inventories | 45 | 46 | 216 |
| Prepaid expenses and other current assets | 57 | (79) | 265 |
| Accounts payable and accrued expenses | 33 | 63 | (93) |
| Accrued compensation | 7 | 63 | (15) |
| Income taxes payable | (20) | (181) | (193) |
| Changes in funded status of retirement plans | 62 | (9) | 29 |
| Other | (52) | (94) | (35) |
| Cash flows from operating activities | 8,756 | 6,139 | 6,649 |
| Cash flows from investing activities | |||
| Capital expenditures | (2,462) | (649) | (847) |
| Proceeds from asset sales | 75 | 4 | 30 |
| Purchases of short-term investments | (10,124) | (5,786) | (3,444) |
| Proceeds from short-term investments | 8,478 | 5,545 | 2,309 |
| Other | (62) | (36) | 32 |
| Cash flows from investing activities | (4,095) | (922) | (1,920) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 1,495 | 1,498 | 1,491 |
| Repayment of debt | (550) | (500) | (750) |
| Dividends paid | (3,886) | (3,426) | (3,008) |
| Stock repurchases | (527) | (2,553) | (2,960) |
| Proceeds from common stock transactions | 377 [1] | 470 | 539 |
| Other | (46) | (36) | (42) |
| Cash flows from financing activities | (3,137) | (4,547) | (4,730) |
| Net change in cash and cash equivalents | 1,524 | 670 | (1) |
| Cash and cash equivalents at beginning of period | 3,107 | 2,437 | |
| Cash and cash equivalents at end of period | 4,631 | 3,107 | 2,437 |
| [1] Net of taxes paid for employee shares withheld of $53 million, $53 million and $52 million in 2021, 2020 and 2019, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
TEXAS INSTRUMENTS INC | ||
Ticker: TXN Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 4, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 4,631 | 3,107 |
| Short-term investments | 5,108 | 3,461 |
| Accounts receivable, net of allowances of ($8) and ($11) | 1,701 | 1,414 |
| Raw materials | 245 | 180 |
| Work in process | 1,067 | 964 |
| Finished goods | 598 | 811 |
| Inventories | 1,910 | 1,955 |
| Prepaid expenses and other current assets | 335 | 302 |
| Total current assets | 13,685 | 10,239 |
| Property, plant and equipment at cost | 7,858 | 5,781 |
| Accumulated depreciation | (2,717) | (2,512) |
| Property, plant and equipment | 5,141 | 3,269 |
| Goodwill | 4,362 | 4,362 |
| Deferred tax assets | 263 | 343 |
| Capitalized software licenses | 85 | 122 |
| Overfunded retirement plans | 392 | 246 |
| Other long-term assets | 748 | 770 |
| Total assets | 24,676 | 19,351 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Current portion of long-term debt | 500 | 550 |
| Accounts payable | 653 | 415 |
| Accrued compensation | 775 | 767 |
| Income taxes payable | 121 | 134 |
| Accrued expenses and other liabilities | 520 | 524 |
| Total current liabilities | 2,569 | 2,390 |
| Long-term debt | 7,241 | 6,248 |
| Underfunded retirement plans | 79 | 131 |
| Deferred tax liabilities | 87 | 90 |
| Other long-term liabilities | 1,367 | 1,305 |
| Total liabilities | 11,343 | 10,164 |
| Stockholders equity: | ||
| Preferred stock, $25 par value. Shares authorized 10; none issued | 0 | 0 |
| Common stock, $1 par value. Shares authorized 2,400; shares issued 1,741 | 1,741 | 1,741 |
| Paid-in capital | 2,630 | 2,333 |
| Retained earnings | 45,919 | 42,051 |
| Treasury common stock at cost Shares: 2021 - 817 ; 2020 - 821 | (36,800) | (36,578) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (157) | (360) |
| Total stockholders equity | 13,333 | 9,187 |
| Total liabilities and stockholders equity | 24,676 | 19,351 |
| External Links | |
| TEXAS INSTRUMENTS INC (TXN) Fiscal Year 2021 | |
| 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 |