TI reports second quarter 2020 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(Millions of dollars)



For Three Months Ended


June 30,


2020


2019

Cash flows from operating activities




Net income

$

1,380


$

1,305

Adjustments to net income:




Depreciation

184


173

Amortization of acquisition-related intangibles

50


80

Amortization of capitalized software

15


14

Stock compensation

69


67

Gains on sales of assets

(1)


(21)

Deferred taxes

(30)


31

Increase (decrease) from changes in:




Accounts receivable

140


21

Inventories

(133)


52

Prepaid expenses and other current assets

63


18

Accounts payable and accrued expenses

73


(26)

Accrued compensation

148


129

Income taxes payable

(255)


(13)

Changes in funded status of retirement plans

(10)


2

Other

27


(36)

Cash flows from operating activities

1,720


1,796





Cash flows from investing activities




Capital expenditures

(130)


(284)

Proceeds from asset sales

1


28

Purchases of short-term investments

(249)


(239)

Proceeds from short-term investments

1,810


200

Other

5


37

Cash flows from investing activities

1,437


(258)





Cash flows from financing activities




Proceeds from issuance of long-term debt

749


Repayment of debt

(500)


Dividends paid

(823)


(722)

Stock repurchases

(882)


(863)

Proceeds from common stock transactions

87


146

Other

(12)


(6)

Cash flows from financing activities

(1,381)


(1,445)





Net change in cash and cash equivalents

1,776


93

Cash and cash equivalents at beginning of period

2,518


3,720

Cash and cash equivalents at end of period

$

4,294


$

3,813


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