Cash return
Amounts are in millions of dollars.
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| Trailing 12 Months |
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| Q2 2022 |
| Q2 2022 |
| Q2 2021 |
| Change |
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Dividends paid |
| $ | 1,060 |
| $ | 4,127 |
| $ | 3,644 |
| 13 % |
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Stock repurchases |
| $ | 1,182 |
| $ | 2,052 |
| $ | 276 |
| 643 % |
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Total cash returned |
| $ | 2,242 |
| $ | 6,179 |
| $ | 3,920 |
| 58 % |
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TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
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Consolidated Statements of Income |
| For Three Months Ended June 30, |
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(In millions, except per-share amounts) |
| 2022 |
| 2021 |
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Revenue |
| $ | 5,212 |
| $ | 4,580 |
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Cost of revenue (COR) |
| 1,587 |
| 1,503 |
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Gross profit |
| 3,625 |
| 3,077 |
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Research and development (R&D) |
| 414 |
| 391 |
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Selling, general and administrative (SG&A) |
| 422 |
| 425 |
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Acquisition charges |
| — |
| 48 |
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Restructuring charges/other |
| 66 |
| — |
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Operating profit |
| 2,723 |
| 2,213 |
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| Other income (expense), net (OI&E) |
| 7 |
| 73 |
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| Interest and debt expense |
| 49 |
| 44 |
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| Income before income taxes |
| 2,681 |
| 2,242 |
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| Provision for income taxes |
| 390 |
| 311 |
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| Net income |
| $ | 2,291 |
| $ | 1,931 |
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| Diluted earnings per common share |
| $ | 2.45 |
| $ | 2.05 |
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| Average shares outstanding: |
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| Basic |
| 920 |
| 923 |
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| Diluted |
| 930 |
| 937 |
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| Cash dividends declared per common share |
| $ | 1.15 |
| $ | 1.02 |
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| Supplemental Information (Quarterly, except as noted) |
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| Provision for income taxes is based on the following: |
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| Operating taxes (calculated using the estimated annual effective tax rate) |
| $ | 395 |
| $ | 322 |
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| Discrete tax items |
| (5) |
| (11) |
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| Provision for income taxes (effective taxes) |
| $ | 390 |
| $ | 311 |
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| A portion of net income is allocated to unvested restricted stock units (RSUs) on which we pay dividend equivalents. Diluted EPS is calculated using the following: |
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| Net income |
| $ | 2,291 |
| $ | 1,931 |
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| Income allocated to RSUs |
| (10) |
| (7) |
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| Income allocated to common stock for diluted EPS |
| $ | 2,281 |
| $ | 1,924 |
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