TI reports 3Q14 financial results and shareholder returns

 

Capital expenditures for the past twelve months were 3 percent of revenue.  Our long-term goal is about 4 percent.

Cash return

Amounts are in millions of dollars.




Trailing 12 Months



3Q14


3Q14

3Q13

Change

Dividends paid

Stock repurchases

Total cash returned

$     319

$     670

$     989


$ 1,293

 $ 2,867

 $ 4,160

  $ 1,084

  $ 2,734

$ 3,818

      19%

       5%

       9%

 

The company's targeted cash return is free cash flow plus proceeds from exercises of equity compensation minus net debt retirement.

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

(Millions of dollars, except share and per-share amounts)




For Three Months Ended



September 30,



2014


2013

Revenue


$

3,501


$

3,244

Cost of revenue (COR)



1,457



1,465

Gross profit



2,044



1,779

Research and development (R&D)



332



368

Selling, general and administrative (SG&A)



463



465

Acquisition charges



83



86

Restructuring charges/other



(9)



16

Operating profit



1,175



844

Other income (expense), net (OI&E)



3



(4)

Interest and debt expense



23



24

Income before income taxes



1,155



816

Provision for income taxes



329



187

Net income


$

826


$

629








Earnings per common share:







Basic


$

.77


$

.56

Diluted


$

.76


$

.56








Average shares outstanding (millions):







Basic



1,060



1,096

Diluted



1,074



1,111








Cash dividends declared per share of common stock


$

.30


$

.28








Percentage of revenue:







Gross profit



58.4%



54.8%

R&D



9.5%



11.3%

SG&A



13.2%



14.4%

Operating profit



33.6%



26.0%


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