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: 2014 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Revenue | $ 13,045 | 12,205 | 12,825 |
| Cost of revenue (COR) | 5,618 | 5,841 | 6,457 |
| Gross profit | 7,427 | 6,364 | 6,368 |
| Research and development (R&D) | 1,358 | 1,522 | 1,877 |
| Selling, general and administrative (SG&A) | 1,843 | 1,858 | 1,804 |
| Acquisition charges | 330 | 341 | 450 |
| Restructuring charges/other | (51) | (189) | 264 |
| Operating profit | 3,947 | 2,832 | 1,973 |
| Other income (expense), net (OI&E) | 21 | 17 | 47 |
| Interest and debt expense | 94 | 95 | 85 |
| Income before income taxes | 3,874 | 2,754 | 1,935 |
| Provision for income taxes | 1,053 | 592 | 176 |
| Net income | 2,821 | 2,162 | 1,759 |
| Earnings per common share (EPS): | |||
| Basic (in dollars per share) | 2.61 | 1.94 | 1.53 |
| Diluted (in dollars per share) | 2.57 | 1.91 | 1.51 |
| Average shares outstanding (millions): | |||
| Basic (in shares) | 1,065 | 1,098 | 1,132 |
| Diluted (in shares) | 1,080 | 1,113 | 1,146 |
| Cash dividends declared per common share | 1.24 | 1.07 | 0.72 |
| Income allocated to RSUs | (43) | (36) | (31) |
| Income allocated to common stock for diluted EPS | 2,778 | 2,126 | 1,728 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2014 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net income | $ 2,821 | 2,162 | 1,759 |
| Other comprehensive income (loss) | |||
| Net actuarial gains (losses) of defined benefit plans: | |||
| Adjustment, net of tax benefit (expense) of $25, ($60) and $29 | (46) | 105 | (81) |
| Recognized within Net income, net of tax benefit (expense) of ($21), ($37) and ($104) | 42 | 71 | 160 |
| Prior service cost of defined benefit plans: | |||
| Adjustment, net of tax benefit (expense) of $0, $1 and $1 | (1) | (3) | (2) |
| Recognized within Net income, net of tax benefit (expense) of $0, $2 and $0 | 0 | (3) | 0 |
| Derivative instruments: | |||
| Change in fair value, net of tax benefit (expense) of $0, $0 and $1 | 0 | 0 | (3) |
| Recognized within Net income, net of tax benefit (expense) of ($1), ($1) and $0 | 1 | 1 | 0 |
| Available-for-sale investments: | |||
| Unrealized gains (losses), net of tax benefit (expense) of $0, $0 and ($1) | 0 | 0 | 3 |
| Other comprehensive income (loss), net of taxes | (4) | 171 | 77 |
| Total comprehensive income | 2,817 | 2,333 | 1,836 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Cash flows from operating activities | |||
| Net income | $ 2,821 | 2,162 | 1,759 |
| Adjustments to Net income: | |||
| Depreciation | 850 | 879 | 957 |
| Amortization of acquisition-related intangibles | 321 | 336 | 342 |
| Amortization of capitalized software | 59 | 82 | 102 |
| Stock-based compensation | 277 | 287 | 263 |
| Gains on sales of assets | (73) | (6) | 0 |
| Deferred income taxes | (61) | 50 | 130 |
| Gain on transfer of Japan substitutional pension | 0 | 0 | (144) |
| Increase (decrease) from changes in: | |||
| Accounts receivable | (49) | 16 | 311 |
| Inventories | (53) | 26 | 5 |
| Prepaid expenses and other current assets | 65 | (136) | 162 |
| Accounts payable and accrued expenses | (194) | (284) | 99 |
| Accrued compensation | 89 | 18 | (82) |
| Income taxes payable | (81) | 78 | (229) |
| Changes in funded status of retirement plans | (58) | 28 | (198) |
| Other | (21) | (152) | (63) |
| Cash flows from operating activities | 3,892 | 3,384 | 3,414 |
| Cash flows from investing activities | |||
| Capital expenditures | (385) | (412) | (495) |
| Proceeds from asset sales | 142 | 21 | 0 |
| Purchases of short-term investments | (3,107) | (3,907) | (2,802) |
| Proceeds from short-term investments | 2,966 | 4,249 | 2,198 |
| Other | 7 | 46 | 60 |
| Cash flows from investing activities | (377) | (3) | (1,039) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 498 | 986 | 1,492 |
| Repayment of debt and commercial paper borrowings | (1,000) | (1,500) | (1,375) |
| Dividends paid | (1,323) | (1,175) | (819) |
| Stock repurchases | (2,831) | (2,868) | (1,800) |
| Proceeds from common stock transactions | 616 | 1,314 | 523 |
| Excess tax benefit from share-based payments | 100 | 80 | 38 |
| Other | (3) | (7) | (10) |
| Cash flows from financing activities | (3,943) | (3,170) | (1,951) |
| Net change in Cash and cash equivalents | (428) | 211 | 424 |
| Cash and cash equivalents at beginning of period | 1,627 | 1,416 | |
| Cash and cash equivalents at end of period | 1,199 | 1,627 | 1,416 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
TEXAS INSTRUMENTS INC | ||
Ticker: TXN Fiscal Year: 2014 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,199 | 1,627 |
| Short-term investments | 2,342 | 2,202 |
| Accounts receivable, net of allowances of ($12) and ($22) | 1,246 | 1,203 |
| Raw materials | 101 | 102 |
| Work in process | 896 | 919 |
| Finished goods | 787 | 710 |
| Inventories | 1,784 | 1,731 |
| Deferred income taxes | 347 | 393 |
| Prepaid expenses and other current assets | 850 | 863 |
| Total current assets | 7,768 | 8,019 |
| Property, plant and equipment at cost | 6,266 | 6,556 |
| Accumulated depreciation | (3,426) | (3,157) |
| Property, plant and equipment, net | 2,840 | 3,399 |
| Long-term investments | 224 | 216 |
| Goodwill, net | 4,362 | 4,362 |
| Acquisition-related intangibles, net | 1,902 | 2,223 |
| Deferred income taxes | 172 | 207 |
| Capitalized software licenses, net | 83 | 118 |
| Overfunded retirement plans | 127 | 130 |
| Other assets | 244 | 264 |
| Total assets | 17,722 | 18,938 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Current portion of long-term debt | 1,001 | 1,000 |
| Accounts payable | 437 | 422 |
| Accrued compensation | 651 | 554 |
| Income taxes payable | 71 | 119 |
| Deferred income taxes | 4 | 1 |
| Accrued expenses and other liabilities | 498 | 651 |
| Total current liabilities | 2,662 | 2,747 |
| Long-term debt | 3,641 | 4,158 |
| Underfunded retirement plans | 225 | 216 |
| Deferred income taxes | 399 | 548 |
| Deferred credits and other liabilities | 405 | 462 |
| Total liabilities | 7,332 | 8,131 |
| 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 | 1,368 | 1,211 |
| Retained earnings | 29,653 | 28,173 |
| Treasury common stock at cost. Shares: 2014 694,189,127; 2013 658,012,970 | (21,840) | (19,790) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (532) | (528) |
| Total stockholders equity | 10,390 | 10,807 |
| Total liabilities and stockholders equity | 17,722 | 18,938 |
| External Links | |
| TEXAS INSTRUMENTS INC (TXN) Fiscal Year 2014 | |
| 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 |