TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For Three Months Ended

September 30,

(In millions)

2022

2021

Cash flows from operating activities

     Net income

$

2,295

$

1,947

     Adjustments to net income:

     Depreciation

249

192

     Amortization of acquisition-related intangibles

—

47

     Amortization of capitalized software

13

14

     Stock compensation

68

50

     Gains on sales of assets

—

(3)

     Deferred taxes

(3)

12

     Increase (decrease) from changes in:

     Accounts receivable

150

(62)

     Inventories

(205)

(13)

     Prepaid expenses and other current assets

25

76

     Accounts payable and accrued expenses

42

35

     Accrued compensation

140

135

     Income taxes payable

21

(10)

     Changes in funded status of retirement plans

56

13

     Other

(85)

(5)

Cash flows from operating activities

2,766

2,428

Cash flows from investing activities

     Capital expenditures

(790)

(486)

     Proceeds from asset sales

—

3

     Purchases of short-term investments

(4,346)

(1,693)

     Proceeds from short-term investments

3,033

1,315

     Other

(10)

(23)

Cash flows from investing activities

(2,113)

(884)

Cash flows from financing activities

     Proceeds from issuance of long-term debt

695

1,495

     Dividends paid

(1,051)

(942)

     Stock repurchases

(996)

(139)

     Proceeds from common stock transactions

78

75

     Other

(12)

(19)

Cash flows from financing activities

(1,286)

470

Net change in cash and cash equivalents

(633)

2,014

Cash and cash equivalents at beginning of period

3,802

3,649

Cash and cash equivalents at end of period

$

3,169

$

5,663