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: 2016 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 23, 2017) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenue | $ 13,370 | 13,000 | 13,045 |
| Cost of revenue (COR) | 5,130 | 5,440 | 5,618 |
| Gross profit | 8,240 | 7,560 | 7,427 |
| Research and development (R&D) | 1,370 | 1,280 | 1,358 |
| Selling, general and administrative (SG&A) | 1,767 | 1,748 | 1,843 |
| Acquisition charges | 319 | 329 | 330 |
| Restructuring charges/other | (15) | (71) | (51) |
| Operating profit | 4,799 | 4,274 | 3,947 |
| Other income (expense), net (OI&E) | 211 | 32 | 21 |
| Interest and debt expense | 80 | 90 | 94 |
| Income before income taxes | 4,930 | 4,216 | 3,874 |
| Provision for income taxes | 1,335 | 1,230 | 1,053 |
| Net income | 3,595 | 2,986 | 2,821 |
| Earnings per common share (EPS): | |||
| Basic (in dollars per share) | 3.54 | 2.86 | 2.61 |
| Diluted (in dollars per share) | 3.48 | 2.82 | 2.57 |
| Average shares outstanding (millions): | |||
| Basic (in shares) | 1,003 | 1,030 | 1,065 |
| Diluted (in shares) | 1,021 | 1,043 | 1,080 |
| Cash dividends declared per common share (in dollars per share) | 1.64 | 1.40 | 1.24 |
| Net income | 3,595 | 2,986 | 2,821 |
| Income allocated to RSUs | (44) | (42) | (43) |
| Income allocated to common stock for diluted EPS | 3,551 | 2,944 | 2,778 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 23, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 3,595 | 2,986 | 2,821 |
| Other comprehensive income (loss) | |||
| Net actuarial gains (losses) of defined benefit plans: | |||
| Adjustment, net of tax benefit (expense) of $6, $36 and $25 | (43) | (74) | (46) |
| Recognized within Net income, net of tax benefit (expense) of ($25), ($25) and ($21) | 51 | 53 | 42 |
| Prior service (cost) credit of defined benefit plans: | |||
| Adjustment, net of tax benefit (expense) of $0, ($11) and $0 | 0 | 20 | (1) |
| Recognized within Net income, net of tax benefit (expense) of $2, $0 and $0 | (3) | 0 | 0 |
| Derivative instruments: | |||
| Recognized within Net income, net of tax benefit (expense) of $0, ($1) and ($1) | 1 | 1 | 1 |
| Other comprehensive income (loss), net of taxes | 6 | 0 | (4) |
| Total comprehensive income | 3,601 | 2,986 | 2,817 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 23, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities | |||
| Net income | $ 3,595 | 2,986 | 2,821 |
| Adjustments to Net income: | |||
| Depreciation | 605 | 766 | 850 |
| Amortization of acquisition-related intangibles | 319 | 319 | 321 |
| Amortization of capitalized software | 31 | 48 | 59 |
| Stock compensation | 252 | 286 | 277 |
| Gains on sales of assets | (40) | (85) | (73) |
| Deferred income taxes | (202) | (55) | (61) |
| Increase (decrease) from changes in: | |||
| Accounts receivable | (108) | 77 | (49) |
| Inventories | (99) | 93 | (53) |
| Prepaid expenses and other current assets | (81) | 94 | 65 |
| Accounts payable and accrued expenses | 72 | (142) | (132) |
| Accrued compensation | 36 | 7 | 89 |
| Income taxes payable | 333 | 11 | (81) |
| Changes in funded status of retirement plans | (73) | (23) | (58) |
| Other | (26) | 15 | 79 |
| Cash flows from operating activities | 4,614 | 4,397 | 4,054 |
| Cash flows from investing activities | |||
| Capital expenditures | (531) | (551) | (385) |
| Proceeds from asset sales | 0 | 110 | 142 |
| Purchases of short-term investments | (3,503) | (2,767) | (3,107) |
| Proceeds from short-term investments | 3,390 | 2,892 | 2,966 |
| Other | (6) | 14 | 7 |
| Cash flows from investing activities | (650) | (302) | (377) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 499 | 498 | 498 |
| Repayment of debt | (1,000) | (1,000) | (1,000) |
| Dividends paid | (1,646) | (1,444) | (1,323) |
| Stock repurchases | (2,132) | (2,741) | (2,831) |
| Proceeds from common stock transactions | 472 [1] | 396 | 554 |
| Other | (3) | (3) | (3) |
| Cash flows from financing activities | (3,810) | (4,294) | (4,105) |
| Net change in Cash and cash equivalents | 154 | (199) | (428) |
| Cash and cash equivalents at beginning of period | 1,000 | 1,199 | |
| Cash and cash equivalents at end of period | 1,154 | 1,000 | 1,199 |
| [1] Net of taxes paid for employee shares withheld of $70 million in 2016, $46 million in 2015 and $62 million in 2014. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
TEXAS INSTRUMENTS INC | ||
Ticker: TXN Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 23, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,154 | 1,000 |
| Short-term investments | 2,336 | 2,218 |
| Accounts receivable, net of allowances of ($17) and ($7) | 1,267 | 1,165 |
| Raw materials | 102 | 109 |
| Work in process | 954 | 846 |
| Finished goods | 734 | 736 |
| Inventories | 1,790 | 1,691 |
| Prepaid expenses and other current assets | 910 | 1,000 |
| Total current assets | 7,457 | 7,074 |
| Property, plant and equipment at cost | 4,923 | 5,465 |
| Accumulated depreciation | (2,411) | (2,869) |
| Property, plant and equipment, net | 2,512 | 2,596 |
| Long-term investments | 235 | 221 |
| Goodwill, net | 4,362 | 4,362 |
| Acquisition-related intangibles, net | 1,264 | 1,583 |
| Deferred income taxes | 374 | 201 |
| Capitalized software licenses, net | 52 | 46 |
| Overfunded retirement plans | 96 | 85 |
| Other assets | 79 | 62 |
| Total assets | 16,431 | 16,230 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Current portion of long-term debt | 631 | 1,000 |
| Accounts payable | 396 | 386 |
| Accrued compensation | 710 | 664 |
| Income taxes payable | 83 | 95 |
| Accrued expenses and other liabilities | 444 | 410 |
| Total current liabilities | 2,264 | 2,555 |
| Long-term debt | 2,978 | 3,120 |
| Underfunded retirement plans | 129 | 196 |
| Deferred income taxes | 33 | 37 |
| Deferred credits and other liabilities | 554 | 376 |
| Total liabilities | 5,958 | 6,284 |
| 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 | 1,674 | 1,629 |
| Retained earnings | 33,107 | 31,176 |
| Treasury common stock at cost Shares: 2016 744,831,978; 2015 729,547,527 | (25,523) | (24,068) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (526) | (532) |
| Total stockholders equity | 10,473 | 9,946 |
| Total liabilities and stockholders equity | 16,431 | 16,230 |
| External Links | |
| TEXAS INSTRUMENTS INC (TXN) Fiscal Year 2016 | |
| 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 |