10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 3, 2023) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenue | $ 20,028 | 18,344 | 14,461 |
| Cost of revenue (COR) | 6,257 | 5,968 | 5,192 |
| Gross profit | 13,771 | 12,376 | 9,269 |
| Research and development (R&D) | 1,670 | 1,554 | 1,530 |
| Selling, general and administrative (SG&A) | 1,704 | 1,666 | 1,623 |
| Acquisition charges | 0 | 142 | 198 |
| Restructuring charges/other | 257 | 54 | 24 |
| Operating profit | 10,140 | 8,960 | 5,894 |
| Other income (expense), net (OI&E) | 106 | 143 | 313 |
| Interest and debt expense | 214 | 184 | 190 |
| Income before income taxes | 10,032 | 8,919 | 6,017 |
| Provision for income taxes | 1,283 | 1,150 | 422 |
| Net income | 8,749 | 7,769 | 5,595 |
| Earnings per common share (EPS): | |||
| Basic (in dollars per share) | 9.51 | 8.38 | 6.05 |
| Diluted (in dollars per share) | 9.41 | 8.26 | 5.97 |
| Average shares outstanding: | |||
| Basic (in shares) | 916 | 923 | 921 |
| Diluted (in shares) | 926 | 936 | 933 |
| Diluted EPS: | |||
| Net income | 8,749 | 7,769 | 5,595 |
| Income allocated to RSUs | (39) | (33) | (27) |
| Income allocated to common stock for diluted EPS | 8,710 | 7,736 | 5,568 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 3, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 8,749 | 7,769 | 5,595 |
| Other comprehensive income (loss) | |||
| Net actuarial losses of defined benefit plans: | |||
| Adjustments, net of tax effect of $48, ($56) and $3 | (155) | 175 | (41) |
| Recognized within net income, net of tax effect of ($17), ($8) and ($9) | 61 | 29 | 29 |
| Prior service cost of defined benefit plans: | |||
| Recognized within net income, net of tax effect of $0, $0 and $0 | (1) | (1) | (1) |
| Derivative instruments: | |||
| Change in fair value, net of tax effect of $0, $0 and $0 | 1 | 0 | 0 |
| Available-for-sale investments: | |||
| Unrealized losses, net of tax effect of $1, $0 and $0 | (3) | 0 | 0 |
| Other comprehensive income (loss), net of taxes | (97) | 203 | (13) |
| Total comprehensive income | 8,652 | 7,972 | 5,582 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
TEXAS INSTRUMENTS INC | |||
Ticker: TXN Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 3, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities | |||
| Net income | $ 8,749 | 7,769 | 5,595 |
| Adjustments to net income: | |||
| Depreciation | 925 | 755 | 733 |
| Amortization of acquisition-related intangibles | 0 | 142 | 198 |
| Amortization of capitalized software | 54 | 57 | 61 |
| Stock compensation | 289 | 230 | 224 |
| Gains on sales of assets | (3) | (57) | (4) |
| Deferred taxes | (191) | 15 | (137) |
| Increase (decrease) from changes in: | |||
| Accounts receivable | (194) | (287) | (340) |
| Inventories | (847) | 45 | 46 |
| Prepaid expenses and other current assets | 6 | 57 | (79) |
| Accounts payable and accrued expenses | 106 | 33 | 63 |
| Accrued compensation | 22 | 7 | 63 |
| Income taxes payable | 94 | (20) | (181) |
| Changes in funded status of retirement plans | 114 | 62 | (9) |
| Other | (404) | (52) | (94) |
| Cash flows from operating activities | 8,720 | 8,756 | 6,139 |
| Cash flows from investing activities | |||
| Capital expenditures | (2,797) | (2,462) | (649) |
| Proceeds from asset sales | 3 | 75 | 4 |
| Purchases of short-term investments | (14,483) | (10,124) | (5,786) |
| Proceeds from short-term investments | 13,657 | 8,478 | 5,545 |
| Other | 37 | (62) | (36) |
| Cash flows from investing activities | (3,583) | (4,095) | (922) |
| Cash flows from financing activities | |||
| Proceeds from issuance of long-term debt | 1,494 | 1,495 | 1,498 |
| Repayment of debt | (500) | (550) | (500) |
| Dividends paid | (4,297) | (3,886) | (3,426) |
| Stock repurchases | (3,615) | (527) | (2,553) |
| Proceeds from common stock transactions | 241 | 377 | 470 |
| Other | (41) | (46) | (36) |
| Cash flows from financing activities | (6,718) | (3,137) | (4,547) |
| Net change in cash and cash equivalents | (1,581) | 1,524 | 670 |
| Cash and cash equivalents at beginning of period | 4,631 | 3,107 | |
| Cash and cash equivalents at end of period | 3,050 | 4,631 | 3,107 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
TEXAS INSTRUMENTS INC | ||
Ticker: TXN Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 3, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 3,050 | 4,631 |
| Short-term investments | 6,017 | 5,108 |
| Accounts receivable, net of allowances of ($13) and ($8) | 1,895 | 1,701 |
| Raw materials | 353 | 245 |
| Work in process | 1,546 | 1,067 |
| Finished goods | 858 | 598 |
| Inventories | 2,757 | 1,910 |
| Prepaid expenses and other current assets | 302 | 335 |
| Total current assets | 14,021 | 13,685 |
| Property, plant and equipment at cost | 9,950 | 7,858 |
| Accumulated depreciation | (3,074) | (2,717) |
| Property, plant and equipment | 6,876 | 5,141 |
| Goodwill | 4,362 | 4,362 |
| Deferred tax assets | 473 | 263 |
| Capitalized software licenses | 152 | 85 |
| Overfunded retirement plans | 188 | 392 |
| Other long-term assets | 1,135 | 748 |
| Total assets | 27,207 | 24,676 |
| Liabilities and stockholders equity | ||
| Current liabilities: | ||
| Current portion of long-term debt | 500 | 500 |
| Accounts payable | 851 | 571 |
| Accrued compensation | 799 | 775 |
| Income taxes payable | 189 | 121 |
| Accrued expenses and other liabilities | 646 | 602 |
| Total current liabilities | 2,985 | 2,569 |
| Long-term debt | 8,235 | 7,241 |
| Underfunded retirement plans | 118 | 79 |
| Deferred tax liabilities | 66 | 87 |
| Other long-term liabilities | 1,226 | 1,367 |
| Total liabilities | 12,630 | 11,343 |
| Stockholders equity: | ||
| Preferred stock, $25 par value. Shares authorized 10; none issued | 0 | 0 |
| Common stock, $1 par value. Shares authorized 2,400; shares issued 1,741 | 1,741 | 1,741 |
| Paid-in capital | 2,951 | 2,630 |
| Retained earnings | 50,353 | 45,919 |
| Treasury common stock at cost Shares: 2022 - 835 ; 2021 - 817 | (40,214) | (36,800) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (254) | (157) |
| Total stockholders equity | 14,577 | 13,333 |
| Total liabilities and stockholders equity | 27,207 | 24,676 |
| External Links | |
| TEXAS INSTRUMENTS INC (TXN) Fiscal Year 2022 | |
| 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 |