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: 2018 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 22, 2019) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Revenue | $ 15,784 | 14,961 | 13,370 |
| Cost of revenue (COR) | 5,507 | 5,347 | 5,113 |
| Gross profit | 10,277 | 9,614 | 8,257 |
| Research and development (R&D) | 1,559 | 1,508 | 1,356 |
| Selling, general and administrative (SG&A) | 1,684 | 1,694 | 1,742 |
| Acquisition charges | 318 | 318 | 319 |
| Restructuring charges/other | 3 | 11 | (15) |
| Operating profit | 6,713 | 6,083 | 4,855 |
| Other income (expense), net (OI&E) | 98 | 75 | 155 |
| Interest and debt expense | 125 | 78 | 80 |
| Income before income taxes | 6,686 | 6,080 | 4,930 |
| Provision for income taxes | 1,106 | 2,398 | 1,335 |
| Net income | 5,580 | 3,682 | 3,595 |
| Earnings per common share (EPS): | |||
| Basic (in dollars per share) | 5.71 | 3.68 | 3.54 |
| Diluted (in dollars per share) | 5.59 | 3.61 | 3.48 |
| Average shares outstanding (millions): | |||
| Basic (in shares) | 970 | 991 | 1,003 |
| Diluted (in shares) | 990 | 1,012 | 1,021 |
| Net income | 5,580 | 3,682 | 3,595 |
| Income allocated to RSUs | (42) | (33) | (44) |
| Income allocated to common stock for diluted EPS | 5,538 | 3,649 | 3,551 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2018 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 22, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 5,580 | 3,682 | 3,595 |
| Other comprehensive income (loss) | |||
| Net actuarial losses of defined benefit plans: | |||
| Adjustment, net of tax effect of $35, ($26) and $6 | (98) | 92 | (43) |
| Recognized within net income, net of tax effect of ($15), ($27) and ($25) | 50 | 56 | 51 |
| Prior service credit of defined benefit plans: | |||
| Adjustment, net of tax effect of $1, $1 and $0 | (6) | (2) | 0 |
| Recognized within net income, net of tax effect of $1, $1 and $2 | (3) | (5) | (3) |
| Derivative instruments: | |||
| Change in fair value, net of tax effect of $1, $0 and $0 | (2) | 0 | 0 |
| Recognized within net income, net of tax effect of $0, $0 and $0 | 0 | 1 | 1 |
| Other comprehensive income (loss), net of taxes | (59) | 142 | 6 |
| Total comprehensive income | 5,521 | 3,824 | 3,601 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 22, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash flows from operating activities | |||
| Net income | $ 5,580 | 3,682 | 3,595 |
| Adjustments to net income: | |||
| Depreciation | 590 | 539 | 605 |
| Amortization of acquisition-related intangibles | 318 | 318 | 319 |
| Amortization of capitalized software | 46 | 47 | 31 |
| Stock compensation | 232 | 242 | 252 |
| Gains on sales of assets | (3) | 0 | (40) |
| Deferred taxes | (105) | 112 | (202) |
| Increase (decrease) from changes in: | |||
| Accounts receivable | 71 | (7) | (108) |
| Inventories | (282) | (167) | (99) |
| Prepaid expenses and other current assets | 669 | 76 | (81) |
| Accounts payable and accrued expenses | (7) | 51 | 72 |
| Accrued compensation | (7) | (3) | 36 |
| Income taxes payable | 158 | 468 | 333 |
| Changes in funded status of retirement plans | 36 | 21 | (73) |
| Other | (107) | (16) | (26) |
| Cash flows from operating activities | 7,189 | 5,363 | 4,614 |
| Cash flows from investing activities | |||
| Capital expenditures | (1,131) | (695) | (531) |
| Proceeds from asset sales | 9 | 40 | 0 |
| Purchases of short-term investments | (5,641) | (4,555) | (3,503) |
| Proceeds from short-term investments | 6,708 | 4,095 | 3,390 |
| Other | (23) | (12) | (6) |
| Cash flows from investing activities | (78) | (1,127) | (650) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 1,500 | 1,099 | 499 |
| Repayment of debt | (500) | (625) | (1,000) |
| Dividends paid | (2,555) | (2,104) | (1,646) |
| Stock repurchases | (5,100) | (2,556) | (2,132) |
| Proceeds from common stock transactions | 373 [1] | 483 | 472 |
| Other | (47) | (31) | (3) |
| Cash flows from financing activities | (6,329) | (3,734) | (3,810) |
| Net change in cash and cash equivalents | 782 | 502 | 154 |
| Cash and cash equivalents at beginning of period | 1,656 | 1,154 | |
| Cash and cash equivalents at end of period | 2,438 | 1,656 | 1,154 |
| [1] Net of taxes paid for employee shares withheld of $60 million, $83 million and $70 million in 2018, 2017 and 2016, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
TEXAS INSTRUMENTS INC | ||
Ticker: TXN Fiscal Year: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 22, 2019) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,438 | 1,656 |
| Short-term investments | 1,795 | 2,813 |
| Accounts receivable, net of allowances of ($19) and ($8) | 1,207 | 1,278 |
| Raw materials | 181 | 126 |
| Work in process | 1,070 | 1,089 |
| Finished goods | 966 | 742 |
| Inventories | 2,217 | 1,957 |
| Prepaid expenses and other current assets | 440 | 1,030 |
| Total current assets | 8,097 | 8,734 |
| Property, plant and equipment at cost | 5,425 | 4,789 |
| Accumulated depreciation | (2,242) | (2,125) |
| Property, plant and equipment | 3,183 | 2,664 |
| Long-term investments | 251 | 268 |
| Goodwill | 4,362 | 4,362 |
| Acquisition-related intangibles | 628 | 946 |
| Deferred tax assets | 295 | 264 |
| Capitalized software licenses | 89 | 110 |
| Overfunded retirement plans | 92 | 208 |
| Other long-term assets | 140 | 86 |
| Total assets | 17,137 | 17,642 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Current portion of long-term debt | 749 | 500 |
| Accounts payable | 478 | 466 |
| Accrued compensation | 724 | 722 |
| Income taxes payable | 103 | 128 |
| Accrued expenses and other liabilities | 420 | 442 |
| Total current liabilities | 2,474 | 2,258 |
| Long-term debt | 4,319 | 3,577 |
| Underfunded retirement plans | 118 | 89 |
| Deferred tax liabilities | 42 | 78 |
| Other long-term liabilities | 1,190 | 1,303 |
| Total liabilities | 8,143 | 7,305 |
| 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 | 1,950 | 1,776 |
| Retained earnings | 37,906 | 34,662 |
| Treasury common stock at cost Shares: 2018 795,665,646; 2017 757,657,217 | (32,130) | (27,458) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (473) [1] | (384) |
| Total stockholders equity | 8,994 | 10,337 |
| Total liabilities and stockholders equity | 17,137 | 17,642 |
| [1] Includes $30 million for the adoption of ASU 2018-02. See Note 2 for additional information. | ||
| External Links | |
| TEXAS INSTRUMENTS INC (TXN) Fiscal Year 2018 | |
| 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 |