Trailing 12 Months

Q2 2022

Q2 2022

Q2 2021

Dividends paid

$

1,060

$

4,127

$

3,644

13 %

Stock repurchases

$

1,182

$

2,052

$

276

643 %

Total cash returned

$

2,242

$

6,179

$

3,920

58 %

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

For Three Months Ended

June 30,

(In millions, except per-share amounts)

2022

2021

Revenue

$

5,212

$

4,580

Cost of revenue (COR)

1,587

1,503

Gross profit

3,625

3,077

Research and development (R&D)

414

391

Selling, general and administrative (SG&A)

422

425

Acquisition charges

—

48

Restructuring charges/other

66

—

Operating profit

2,723

2,213

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

7

73

Interest and debt expense

49

44

Income before income taxes

2,681

2,242

Provision for income taxes

390

311

Net income

$

2,291

$

1,931

Diluted earnings per common share

$

2.45

$

2.05

Average shares outstanding:

 Basic

920

923

 Diluted

930

937

Cash dividends declared per common share

$

1.15

$

1.02

Supplemental Information

(Quarterly, except as noted)

Provision for income taxes is based on the following:

Operating taxes (calculated using the estimated annual effective tax rate)

$

395

$

322

Discrete tax items

(5)

(11)

Provision for income taxes (effective taxes)

$

390

$

311

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:

Net income

$

2,291

$

1,931

Income allocated to RSUs

(10)

(7)

Income allocated to common stock for diluted EPS

$

2,281

$

1,924