|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||||||||
|
Consolidated Statements of Cash Flows | ||||||||||||
|
(Millions of dollars) | ||||||||||||
|
| ||||||||||||
|
|
|
For Three Months Ended |
|
For Years Ended | ||||||||
|
|
|
December 31, |
|
December 31, | ||||||||
|
|
|
2016 |
|
2015 |
|
2016 |
|
2015 | ||||
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
1,047 |
|
$ |
836 |
|
$ |
3,595 |
|
$ |
2,986 |
|
Adjustments to Net income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
139 |
|
|
172 |
|
|
605 |
|
|
766 |
|
Amortization of acquisition-related intangibles |
|
|
80 |
|
|
79 |
|
|
319 |
|
|
319 |
|
Amortization of capitalized software |
|
|
8 |
|
|
10 |
|
|
31 |
|
|
48 |
|
Stock-based compensation |
|
|
48 |
|
|
58 |
|
|
252 |
|
|
286 |
|
Gains on sales of assets |
|
|
(40) |
|
|
(82) |
|
|
(40) |
|
|
(85) |
|
Deferred income taxes |
|
|
(42) |
|
|
51 |
|
|
(202) |
|
|
(55) |
|
Increase (decrease) from changes in: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
166 |
|
|
318 |
|
|
(108) |
|
|
77 |
|
Inventories |
|
|
18 |
|
|
80 |
|
|
(99) |
|
|
93 |
|
Prepaid expenses and other current assets |
|
|
(211) |
|
|
5 |
|
|
(81) |
|
|
94 |
|
Accounts payable and accrued expenses |
|
|
59 |
|
|
3 |
|
|
72 |
|
|
(142) |
|
Accrued compensation |
|
|
62 |
|
|
44 |
|
|
36 |
|
|
7 |
|
Income taxes payable |
|
|
180 |
|
|
(10) |
|
|
333 |
|
|
11 |
|
Changes in funded status of retirement plans |
|
|
(129) |
|
|
(88) |
|
|
(73) |
|
|
(23) |
|
Other |
|
|
2 |
|
|
(30) |
|
|
(26) |
|
|
15 |
|
Cash flows from operating activities |
|
|
1,387 |
|
|
1,446 |
|
|
4,614 |
|
|
4,397 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
|
(110) |
|
|
(164) |
|
|
(531) |
|
|
(551) |
|
Proceeds from asset sales |
|
|
— |
|
|
100 |
|
|
— |
|
|
110 |
|
Purchases of short-term investments |
|
|
(1,332) |
|
|
(1,054) |
|
|
(3,503) |
|
|
(2,767) |
|
Proceeds from short-term investments |
|
|
765 |
|
|
437 |
|
|
3,390 |
|
|
2,892 |
|
Other |
|
|
(8) |
|
|
6 |
|
|
(6) |
|
|
14 |
|
Cash flows from investing activities |
|
|
(685) |
|
|
(675) |
|
|
(650) |
|
|
(302) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of debt |
|
|
— |
|
|
— |
|
|
499 |
|
|
498 |
|
Repayment of debt |
|
|
— |
|
|
— |
|
|
(1,000) |
|
|
(1,000) |
|
Dividends paid |
|
|
(499) |
|
|
(386) |
|
|
(1,646) |
|
|
(1,444) |
|
Stock repurchases |
|
|
(475) |
|
|
(627) |
|
|
(2,132) |
|
|
(2,741) |
|
Proceeds from common stock transactions |
|
|
57 |
|
|
109 |
|
|
472 |
|
|
396 |
|
Other |
|
|
— |
|
|
— |
|
|
(3) |
|
|
(3) |
|
Cash flows from financing activities |
|
|
(917) |
|
|
(904) |
|
|
(3,810) |
|
|
(4,294) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in Cash and cash equivalents |
|
|
(215) |
|
|
(133) |
|
|
154 |
|
|
(199) |
|
Cash and cash equivalents at beginning of period |
|
|
1,369 |
|
|
1,133 |
|
|
1,000 |
|
|
1,199 |
|
Cash and cash equivalents at end of period |
|
$ |
1,154 |
|
$ |
1,000 |
|
$ |
1,154 |
|
$ |
1,000 |
|
|
|
Certain amounts in the prior periods have been recast to conform to the current presentation. See Supplemental financial information section of this release. |
