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: 2019 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 20, 2020) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenue | $ 14,383 | 15,784 | 14,961 |
| Cost of revenue (COR) | 5,219 | 5,507 | 5,347 |
| Gross profit | 9,164 | 10,277 | 9,614 |
| Research and development (R&D) | 1,544 | 1,559 | 1,508 |
| Selling, general and administrative (SG&A) | 1,645 | 1,684 | 1,694 |
| Acquisition charges | 288 | 318 | 318 |
| Restructuring charges/other | (36) | 3 | 11 |
| Operating profit | 5,723 | 6,713 | 6,083 |
| Other income (expense), net (OI&E) | 175 | 98 | 75 |
| Interest and debt expense | 170 | 125 | 78 |
| Income before income taxes | 5,728 | 6,686 | 6,080 |
| Provision for income taxes | 711 | 1,106 | 2,398 |
| Net income | 5,017 | 5,580 | 3,682 |
| Earnings per common share (EPS): | |||
| Basic (in dollars per share) | 5.33 | 5.71 | 3.68 |
| Diluted (in dollars per share) | 5.24 | 5.59 | 3.61 |
| Average shares outstanding (millions): | |||
| Basic (in shares) | 936 | 970 | 991 |
| Diluted (in shares) | 952 | 990 | 1,012 |
| Diluted EPS: | |||
| Net income | 5,017 | 5,580 | 3,682 |
| Income allocated to RSUs | (31) | (42) | (33) |
| Income allocated to common stock for diluted EPS | 4,986 | 5,538 | 3,649 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 20, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 5,017 | 5,580 | 3,682 |
| Other comprehensive income (loss) | |||
| Net actuarial losses of defined benefit plans: | |||
| Adjustments, net of tax effect of ($37), $35 and ($26) | 88 | (98) | 92 |
| Recognized within net income, net of tax effect of ($13), ($15) and ($27) | 38 | 50 | 56 |
| Prior service credit of defined benefit plans: | |||
| Adjustments, net of tax effect of $0, $1 and $1 | 0 | (6) | (2) |
| Recognized within net income, net of tax effect of $0, $1 and $1 | 0 | (3) | (5) |
| Derivative instruments: | |||
| Change in fair value, net of tax effect of $0, $1 and $0 - post adoption | 0 | ||
| Change in fair value, net of tax effect of $0, $1 and $0 - pre adoption | (2) | 0 | |
| Recognized within net income, net of tax effect of $0, $0 and $0 - post adoption | 0 | ||
| Recognized within net income, net of tax effect of $0, $0 and $0 - pre adoption | 0 | 1 | |
| Other comprehensive income (loss), net of taxes | 126 | (59) | 142 |
| Total comprehensive income | 5,143 | 5,521 | 3,824 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 20, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash flows from operating activities | |||
| Net income | $ 5,017 | 5,580 | 3,682 |
| Adjustments to net income: | |||
| Depreciation | 708 | 590 | 539 |
| Amortization of acquisition-related intangibles | 288 | 318 | 318 |
| Amortization of capitalized software | 54 | 46 | 47 |
| Stock compensation | 217 | 232 | 242 |
| Gain (Loss) on Disposition of Assets | (23) | (3) | 0 |
| Deferred taxes | 81 | (105) | 112 |
| Increase (decrease) from changes in: | |||
| Accounts receivable | 133 | 71 | (7) |
| Inventories | 216 | (282) | (167) |
| Prepaid expenses and other current assets | 265 | 669 | 76 |
| Accounts payable and accrued expenses | (93) | (7) | 51 |
| Accrued compensation | (15) | (7) | (3) |
| Income taxes payable | (193) | 158 | 468 |
| Changes in funded status of retirement plans | 29 | 36 | 21 |
| Other | (35) | (107) | (16) |
| Cash flows from operating activities | 6,649 | 7,189 | 5,363 |
| Cash flows from investing activities | |||
| Capital expenditures | (847) | (1,131) | (695) |
| Proceeds from asset sales | 30 | 9 | 40 |
| Purchases of short-term investments | (3,444) | (5,641) | (4,555) |
| Proceeds from short-term investments | 2,309 | 6,708 | 4,095 |
| Other | 32 | (23) | (12) |
| Cash flows from investing activities | (1,920) | (78) | (1,127) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 1,491 | 1,500 | 1,099 |
| Repayment of debt | (750) | (500) | (625) |
| Dividends paid | (3,008) | (2,555) | (2,104) |
| Stock repurchases | (2,960) | (5,100) | (2,556) |
| Proceeds from common stock transactions | 539 | 373 | 483 |
| Other | (42) | (47) | (31) |
| Cash flows from financing activities | (4,730) | (6,329) | (3,734) |
| Net change in cash and cash equivalents | (1) | 782 | 502 |
| Cash and cash equivalents at beginning of period | 2,438 | 1,656 | |
| Cash and cash equivalents at end of period | 2,437 | 2,438 | 1,656 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
TEXAS INSTRUMENTS INC | ||
Ticker: TXN Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 20, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,437 | 2,438 |
| Short-term investments | 2,950 | 1,795 |
| Accounts receivable, net of allowances of ($8) and ($19) | 1,074 | 1,207 |
| Raw materials | 176 | 181 |
| Work in process | 916 | 1,070 |
| Finished goods | 909 | 966 |
| Inventories | 2,001 | 2,217 |
| Prepaid expenses and other current assets | 299 | 440 |
| Total current assets | 8,761 | 8,097 |
| Property, plant and equipment at cost | 5,740 | 5,425 |
| Accumulated depreciation | (2,437) | (2,242) |
| Property, plant and equipment | 3,303 | 3,183 |
| Long-term investments | 300 | 251 |
| Goodwill | 4,362 | 4,362 |
| Acquisition-related intangibles | 340 | 628 |
| Deferred tax assets | 197 | 295 |
| Capitalized software licenses | 69 | 89 |
| Overfunded retirement plans | 218 | 92 |
| Other long-term assets | 468 | 140 |
| Total assets | 18,018 | 17,137 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Current portion of long-term debt | 500 | 749 |
| Accounts payable | 388 | 478 |
| Accrued compensation | 714 | 724 |
| Income taxes payable | 46 | 103 |
| Accrued expenses and other liabilities | 475 | 420 |
| Total current liabilities | 2,123 | 2,474 |
| Long-term debt | 5,303 | 4,319 |
| Underfunded retirement plans | 93 | 118 |
| Deferred tax liabilities | 78 | 42 |
| Other long-term liabilities | 1,514 | 1,190 |
| Total liabilities | 9,111 | 8,143 |
| 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 | 2,110 | 1,950 |
| Retained earnings | 39,898 | 37,906 |
| Treasury common stock at cost Shares: 2019 - 808,784,381; 2018 - 795,665,646 | (34,495) | (32,130) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (347) | (473) |
| Total stockholders equity | 8,907 | 8,994 |
| Total liabilities and stockholders equity | 18,018 | 17,137 |
| External Links | |
| TEXAS INSTRUMENTS INC (TXN) Fiscal Year 2019 | |
| 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 |