Trailing 12 Months 

  4Q14

 4Q14

 4Q13

Change

Dividends paid

$     356

$ 1,323

$ 1,175

13%

Stock repurchases

$     698

$ 2,831

$ 2,868

-1%

Total cash returned

$  1,054

$ 4,154

$ 4,043

3%

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

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

For Three Months Ended

For Years Ended

December 31,

December 31,

2014

2013

2014

2013

Revenue

$

3,269

$

3,028

$

13,045

$

12,205

Cost of revenue (COR)

1,374

1,388

5,618

5,841

Gross profit

1,895

1,640

7,427

6,364

Research and development (R&D)

311

346

1,358

1,522

Selling, general and administrative (SG&A)

429

461

1,843

1,858

Acquisition charges

82

84

330

341

Restructuring charges/other

(27)

62

(51)

(189)

Operating profit

1,100

687

3,947

2,832

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

9

19

21

17

Interest and debt expense

22

24

94

95

Income before income taxes

1,087

682

3,874

2,754

Provision for income taxes

262

171

1,053

592

Net income

$

825

$

511

$

2,821

$

2,162

Diluted earnings per common share

$

.76

$

.46

$

2.57

$

1.91

Average diluted shares outstanding (millions)

1,063

1,102

1,080

1,113

Cash dividends declared per common share

$

.34

$

.30

$

1.24

$

1.07

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 EPS is calculated using the following:

Net income

$

825

$

511

$

2,821

$

2,162

Income allocated to RSUs

(13)

(8)

(43)

(36)

Income allocated to common stock for diluted EPS

$

812

$

503

$

2,778

$

2,126