TXN Q1 2017 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q1 2017 Earnings

Reported May 3, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2017	Q4 2016	Q1 2016	QoQ Change	YoY Change
Revenue	$3.4B	$3.4B	$3.0B	-0.4%	13.1%
Op. Income	$1.3B	$1.3B	$968M	-5.1%	29.3%
Gross Margin	63.0%	62.5%	60.6%	0.5pp	2.4pp
Net Margin	29.3%	30.7%	23.6%	-1.4pp	5.7pp
EPS (Diluted)	$0.97	$1.02	$0.69	-4.9%	40.6%
Free Cash Flow	$668M	$1.3B	$423M	-47.7%	57.9%

Revenue Flow

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.1B
R&D Expenses	$369M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$439M
Other Expenses	$84M
Operating Expenses	$892M
Cost & Expenses	$2.1B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$18M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$258M
Net Income from Continuing Ops	$997M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$997M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$987M
D&A	$230M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.1B
R&D Expenses	$369M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$439M
Other Expenses	$84M
Operating Expenses	$892M
Cost & Expenses	$2.1B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$18M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$258M
Net Income from Continuing Ops	$997M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$997M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$987M
D&A	$230M
EBIT	$1.3B
EBITDA	$1.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$997M
Depreciation & Amortization	$230M
Stock-Based Compensation	$68M
Deferred Income Tax	$9M
Other Non-Cash Items	-$32M
Change in Working Capital	-$477M
OPERATING CASH FLOW	$795M
Capital Expenditure	-$127M
Acquisitions (Net)	$0
Purchases of Investments	-$757M
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$31M
NET CASH FROM INVESTING	$267M
Net Debt Issuance	-$250M
Common Stock Repurchased	-$550M
Common Dividends Paid	-$500M
Other Financing Activities	-$4M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$668M
Net Change in Cash	-$81M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$2.0B
Net Receivables	$1.3B
Inventory	$1.8B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.0B
PP&E (Net)	$2.5B
Goodwill	$4.4B
Intangible Assets	$1.3B
Long-Term Investments	$241M
Tax Assets	$361M
Other Non-Current Assets	$173M
TOTAL NON-CURRENT ASSETS	$8.9B
TOTAL ASSETS	$16.0B
Account Payables	$429M
Short-Term Debt	$378M
Deferred Revenue	$77M
Other Current Liabilities	-$77M
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$3.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$36M
Other Non-Current Liabilities	$721M
TOTAL NON-CURRENT LIABILITIES	$3.7B
TOTAL LIABILITIES	$5.3B
Common Stock	$1.7B
Additional Paid-In Capital	$1.6B
Retained Earnings	$33.6B
Treasury Stock	-$25.8B
Accum. Other Comp. Income	-$527M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.6B
Minority Interest	$0
TOTAL EQUITY	$10.6B
TOTAL LIABILITIES & EQUITY	$16.0B
Total Debt	$3.4B
Net Debt	$2.3B