Capital expenditures for the past 12 months were 3 percent of revenue. Our long-term expectation is about 4 percent.
Cash return
Amounts are in millions of dollars.
|
|
|
|
Trailing 12 Months |
| |
|
|
|
1Q15 |
1Q15 |
1Q14 |
Change |
|
Dividends paid |
|
$ 356 |
$ 1,354 |
$ 1,268 |
7% |
|
Stock repurchases |
|
$ 670 |
$ 2,781 |
$ 2,909 |
-4% |
|
Total cash returned |
|
$ 1,026 |
$ 4,135 |
$ 4,177 |
-1% |
The company's targeted cash return is 100 percent of 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 | ||
|
|
|
March 31, | ||
|
|
|
2015 |
|
2014 |
|
Revenue |
|
$ 3,150 |
|
$ 2,983 |
|
Cost of revenue (COR) |
|
1,334 |
|
1,376 |
|
Gross profit |
|
1,816 |
|
1,607 |
|
Research and development (R&D) |
|
338 |
|
366 |
|
Selling, general and administrative (SG&A) |
|
439 |
|
479 |
|
Acquisition charges |
|
83 |
|
83 |
|
Restructuring charges/other |
|
(2) |
|
(11) |
|
Operating profit |
|
958 |
|
690 |
|
Other income (expense), net (OI&E) |
|
4 |
|
6 |
|
Interest and debt expense |
|
22 |
|
25 |
|
Income before income taxes |
|
940 |
|
671 |
|
Provision for income taxes |
|
284 |
|
184 |
|
Net income |
|
$ 656 |
|
$ 487 |
|
|
|
|
|
|
|
Diluted earnings per common share |
|
$ .61 |
|
$ .44 |
|
|
|
|
|
|
|
Average diluted shares outstanding (millions) |
|
1,061 |
|
1,096 |
|
|
|
|
|
|
|
Cash dividends declared per common share |
|
$ .34 |
|
$ .30 |
|
|
|
|
|
|
|
As a result of accounting rule ASC 260, which requires a portion of Net income to be
| ||||
|
|
|
|
|
|
|
Net income |
|
$ 656 |
|
$ 487 |
|
Income allocated to RSUs |
|
(9) |
|
(7) |
|
Income allocated to common stock for diluted EPS |
|
$ 647 |
|
$ 480 |
