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: 2017 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenue | $ 14,961 | 13,370 | 13,000 |
| Cost of revenue (COR) | 5,347 | 5,113 | 5,425 |
| Gross profit | 9,614 | 8,257 | 7,575 |
| Research and development (R&D) | 1,508 | 1,356 | 1,267 |
| Selling, general and administrative (SG&A) | 1,694 | 1,742 | 1,728 |
| Acquisition charges | 318 | 319 | 329 |
| Restructuring charges/other | 11 | (15) | (71) |
| Operating profit | 6,083 | 4,855 | 4,322 |
| Other income (expense), net (OI&E) | 75 | 155 | (16) |
| Interest and debt expense | 78 | 80 | 90 |
| Income before income taxes | 6,080 | 4,930 | 4,216 |
| Provision for income taxes | 2,398 | 1,335 | 1,230 |
| Net income | 3,682 | 3,595 | 2,986 |
| Earnings per common share (EPS): | |||
| Basic (in dollars per share) | 3.68 | 3.54 | 2.86 |
| Diluted (in dollars per share) | 3.61 | 3.48 | 2.82 |
| Average shares outstanding (millions): | |||
| Basic (in shares) | 991 | 1,003 | 1,030 |
| Diluted (in shares) | 1,012 | 1,021 | 1,043 |
| Cash dividends declared per common share (in dollars per share) | 2.12 | 1.64 | 1.40 |
| Net income | 3,682 | 3,595 | 2,986 |
| Income allocated to RSUs | (33) | (44) | (42) |
| Income allocated to common stock for diluted EPS | 3,649 | 3,551 | 2,944 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2017 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 3,682 | 3,595 | 2,986 |
| Other comprehensive income (loss) | |||
| Net actuarial losses of defined benefit plans: | |||
| Adjustment, net of tax effect of ($26), $6 and $36 | 92 | (43) | (74) |
| Recognized within Net income, net of tax effect of ($27), ($25) and ($25) | 56 | 51 | 53 |
| Prior service credit of defined benefit plans: | |||
| Adjustment, net of tax effect of $1, $0 and ($11) | (2) | 0 | 20 |
| Recognized within Net income, net of tax effect of $1, $2 and $0 | (5) | (3) | 0 |
| Derivative instruments: | |||
| Recognized within Net income, net of tax effect of $0, $0 and ($1) | 1 | 1 | 1 |
| Other comprehensive income (loss), net of taxes | 142 | 6 | 0 |
| Total comprehensive income | 3,824 | 3,601 | 2,986 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash flows from operating activities | |||
| Net income | $ 3,682 | 3,595 | 2,986 |
| Adjustments to Net income: | |||
| Depreciation | 539 | 605 | 766 |
| Amortization of acquisition-related intangibles | 318 | 319 | 319 |
| Amortization of capitalized software | 47 | 31 | 48 |
| Stock compensation | 242 | 252 | 286 |
| Gains on sales of assets | 0 | (40) | (85) |
| Deferred taxes | 112 | (202) | (55) |
| Increase (decrease) from changes in: | |||
| Accounts receivable | (7) | (108) | 77 |
| Inventories | (167) | (99) | 93 |
| Prepaid expenses and other current assets | 76 | (81) | 94 |
| Accounts payable and accrued expenses | 51 | 72 | (142) |
| Accrued compensation | (3) | 36 | 7 |
| Income taxes payable | 468 | 333 | 11 |
| Changes in funded status of retirement plans | 21 | (73) | (23) |
| Other | (16) | (26) | 15 |
| Cash flows from operating activities | 5,363 | 4,614 | 4,397 |
| Cash flows from investing activities | |||
| Capital expenditures | (695) | (531) | (551) |
| Proceeds from asset sales | 40 | 0 | 110 |
| Purchases of short-term investments | (4,555) | (3,503) | (2,767) |
| Proceeds from short-term investments | 4,095 | 3,390 | 2,892 |
| Other | (12) | (6) | 14 |
| Cash flows from investing activities | (1,127) | (650) | (302) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 1,099 | 499 | 498 |
| Repayment of debt | (625) | (1,000) | (1,000) |
| Dividends paid | (2,104) | (1,646) | (1,444) |
| Stock repurchases | (2,556) | (2,132) | (2,741) |
| Proceeds from common stock transactions | 483 [1] | 472 | 396 |
| Other | (31) | (3) | (3) |
| Cash flows from financing activities | (3,734) | (3,810) | (4,294) |
| Net change in Cash and cash equivalents | 502 | 154 | (199) |
| Cash and cash equivalents at beginning of period | 1,154 | 1,000 | |
| Cash and cash equivalents at end of period | 1,656 | 1,154 | 1,000 |
| [1] Net of taxes paid for employee shares withheld of $83 million in 2017, $70 million in 2016 and $46 million in 2015. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
TEXAS INSTRUMENTS INC | ||
Ticker: TXN Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,656 | 1,154 |
| Short-term investments | 2,813 | 2,336 |
| Accounts receivable, net of allowances of ($8) and ($17) | 1,278 | 1,267 |
| Raw materials | 126 | 102 |
| Work in process | 1,089 | 954 |
| Finished goods | 742 | 734 |
| Inventories | 1,957 | 1,790 |
| Prepaid expenses and other current assets | 1,030 | 910 |
| Total current assets | 8,734 | 7,457 |
| Property, plant and equipment at cost | 4,789 | 4,923 |
| Accumulated depreciation | (2,125) | (2,411) |
| Property, plant and equipment | 2,664 | 2,512 |
| Long-term investments | 268 | 235 |
| Goodwill | 4,362 | 4,362 |
| Acquisition-related intangibles | 946 | 1,264 |
| Deferred tax assets | 264 | 374 |
| Capitalized software licenses | 110 | 52 |
| Overfunded retirement plans | 208 | 96 |
| Other long-term assets | 86 | 79 |
| Total assets | 17,642 | 16,431 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Current portion of long-term debt | 500 | 631 |
| Accounts payable | 466 | 396 |
| Accrued compensation | 722 | 710 |
| Income taxes payable | 128 | 83 |
| Accrued expenses and other liabilities | 442 | 444 |
| Total current liabilities | 2,258 | 2,264 |
| Long-term debt | 3,577 | 2,978 |
| Underfunded retirement plans | 89 | 129 |
| Deferred tax liabilities | 78 | 33 |
| Other long-term liabilities | 1,303 | 554 |
| Total liabilities | 7,305 | 5,958 |
| 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 | 1,776 | 1,674 |
| Retained earnings | 34,662 | 33,107 |
| Treasury common stock at cost Shares: 2017 757,657,217; 2016 744,831,978 | (27,458) | (25,523) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (384) | (526) |
| Total stockholders equity | 10,337 | 10,473 |
| Total liabilities and stockholders equity | 17,642 | 16,431 |
| External Links | |
| TEXAS INSTRUMENTS INC (TXN) Fiscal Year 2017 | |
| 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 |