Investor Presentaiton

Consolidated Statements of Cash Flows (Millions of dollars) Cash flows from operating activities Net income.. For Years Ended December 31, 2016 2015 2014 $ 3,595 $ 2,986 $ 2,821 Adjustments to Net income: Depreciation Amortization of acquisition-related intangibles Amortization of capitalized software Stock compensation Gains on sales of assets Deferred income taxes 605 766 850 319 319 321 31 48 59 252 286 277 (40) (85) (73) (202) (55) (61) Increase (decrease) from changes in: Accounts receivable (108) 77 (49) Inventories (99) 93 (53) Prepaid expenses and other current assets (81) 94 65 Accounts payable and accrued expenses 72 (142) (132) Accrued compensation 36 7 89 Income taxes payable 333 == 11 (81) Changes in funded status of retirement plans Other (73) (23) (58) (26) 15 79 Cash flows from operating activities 4,614 4,397 4,054 Cash flows from investing activities Capital expenditures Proceeds from asset sales Purchases of short-term investments Proceeds from short-term investments Other (531) (551) (385) 110 142 (3,503) (2,767) (3,107) 3,390 2,892 2,966 (6) 14 7 (650) (302) (377) Cash flows from investing activities Cash flows from financing activities Proceeds from issuance of long-term debt 499 498 498 Repayment of debt (1,000) (1,000) (1,000) Dividends paid (1,646) (1,444) (1,323) Stock repurchases (2,132) (2,741) (2,831) Proceeds from common stock transactions Other 472 396 554 (3) (3) (3) Cash flows from financing activities (3,810) (4,294) (4,105) Net change in Cash and cash equivalents 154 Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period See accompanying notes. 1,000 (199) 1,199 (428) 1,627 $ 1,154 $ 1,000 $ 1,199 TEXAS INSTRUMENTS . 2016 FORM 10-K 29 FORM 10-K

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