Cash return
Amounts are in millions of dollars.
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Trailing 12 Months |
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2Q14 |
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2Q14 |
2Q13 |
Change |
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Dividends paid |
$ 323 |
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$ 1,282 |
$ 971 |
32% |
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Stock repurchases |
$ 743 |
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$ 2,931 |
$ 2,600 |
13% |
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Total cash returned |
$ 1,066 |
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$ 4,213 |
$ 3,571 |
18% |
The company's targeted cash return model is free cash flow minus net debt retirement plus proceeds from exercises of equity compensation.
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TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||
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Consolidated Statements of Income | ||||
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(Millions of dollars, except share and per-share amounts) | ||||
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For Three Months Ended June 30, | ||
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2014 |
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2013 |
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Revenue |
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$ 3,292 |
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$ 3,047 |
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Cost of revenue |
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1,411 |
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1,477 |
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Gross profit |
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1,881 |
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1,570 |
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Research and development (R&D) |
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349 |
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389 |
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Selling, general and administrative (SG&A) |
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472 |
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471 |
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Acquisition charges |
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82 |
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86 |
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Restructuring charges/other |
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(4) |
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(282) |
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Operating profit |
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982 |
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906 |
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Other income (expense), net |
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3 |
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-- |
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Interest and debt expense |
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24 |
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24 |
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Income before income taxes |
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961 |
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882 |
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Provision for income taxes |
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278 |
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222 |
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Net income |
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$ 683 |
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$ 660 |
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Earnings per common share: |
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Basic |
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$ .63 |
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$ .59 |
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Diluted |
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$ .62 |
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$ .58 |
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Average shares outstanding (millions): |
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Basic |
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1,071 |
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1,103 |
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Diluted |
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1,086 |
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1,117 |
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Cash dividends declared per share of common stock |
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$ .30 |
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$ .28 |
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Percentage of revenue: |
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Gross profit |
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57.1% |
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51.5% |
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R&D |
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10.6% |
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12.8% |
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SG&A |
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14.3% |
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15.5% |
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Operating profit |
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29.8% |
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29.7% |
