Investor Presentaiton
ITEM 6. Selected Financial Data.
(Millions of dollars, except share and per-share amounts)
Cash flow data:
Cash flows from operating activities (a)
Capital expenditures.
Free cash flow (a) (b)
Dividends paid
Stock repurchases
Income statement data:
Revenue by segment:
For Years Ended December 31,
2014
2016
2015
2013
2012
$ 4,614
$ 4,397
$ 4,054
$ 3,514
$ 3,483
531
551
385
412
495
4,083
3,846
3,669
3,102
2,988
1,646
1,444
1,323
1,175
819
2,132
2,741
2,831
2,868
1,800
Analog
Embedded Processing
Other
8,536
8,339
8,104
7,194
6,998
3,023
2,787
2,740
2,450
2,257
1,811
1,874
2,201
2,561
3,570
Revenue
13,370
13,000
13,045
12,205
12,825
Gross profit
8,240
7,560
7,427
6,364
6,368
Operating expenses (R&D and SG&A)
3,137
3,028
3,201
3,380
3,681
Acquisition charges
319
329
330
341
450
Restructuring charges/other
(15)
(71)
(51)
(189)
264
Operating profit
4,799
4,274
3,947
2,832
1,973
Net income (c)
$ 3,595 $ 2,986
$ 2,821
$ 2,162 $ 1,759
As a result of accounting rule ASC 260, which requires a portion of Net income to be allocated to unvested restricted stock units
(RSUs) on which we pay dividend equivalents, diluted earnings per share (EPS) is calculated using the following:
Net income (c)
Income allocated to RSUs
$ 3,595
(44)
$ 2,986
(42)
$ 2,821
(43)
$ 2,162
(36)
$ 1,759
(31)
Income allocated to common shares for diluted EPS (c)
$ 3,551
$ 2,944
Average diluted shares outstanding, in millions (c)
Diluted EPS (c)
1,021
1,043
$ 2,778
1,080
$ 2,126
$ 1,728
1,113
1,146
Cash dividends declared per common share
$ 3.48 $ 2.82 $ 2.57 $ 1.91 $ 1.51
1.64 $ 1.40 $ 1.24 $ 1.07 $ 0.72
(a) Prior periods reclassified to conform to the 2016 presentation, having adopted ASU 2016-09. See Note 2.
(b) Free cash flow is a non-GAAP measure derived by subtracting Capital expenditures from Cash flows from operating activities.
(c) 2016 amounts reflect the adoption of ASU 2016-09. See Note 2.
(Millions of dollars, except Other data items)
Balance sheet data:
Cash, cash equivalents and short-term investments
Total assets
Current portion of long-term debt and commercial paper
borrowings
Long-term debt
Other data - Number of:
Employees
Stockholders of record
2016
2015
December 31,
2014
2013
2012
$ 3,490
16,431
$ 3,218
16,230
$ 3,541
$ 3,829
$ 3,965
17,372
18,554
19,565
631
2,978
1,000
1,001
1,000
1,500
3,120
3,630
4,145
4,175
29,865
14,910
29,977 31,003
32,209
34,151
15,563 16,361
17,213
18,128
See Notes to the financial statements and Management's discussion and analysis of financial condition and results of operations.
TEXAS INSTRUMENTS
2016 FORM 10-K
15
FORM 10-KView entire presentation