TXN Q1 2018 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q1 2018 Earnings

Reported May 3, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$3.8B	$3.8B	$3.4B	1.0%	11.4%
Op. Income	$1.5B	$1.6B	$1.3B	-1.0%	23.6%
Gross Margin	64.6%	65.1%	63.0%	-0.5pp	1.6pp
Net Margin	36.1%	9.2%	29.3%	26.9pp	6.7pp
EPS (Diluted)	$1.35	$0.34	$0.97	297.1%	39.2%
Free Cash Flow	$923M	$1.7B	$668M	-45.6%	38.2%

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.4B
R&D Expenses	$385M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$433M
Other Expenses	$81M
Operating Expenses	$899M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$23M
Other Income/Expenses	$5M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$187M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$229M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.4B
R&D Expenses	$385M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$433M
Other Expenses	$81M
Operating Expenses	$899M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$23M
Other Income/Expenses	$5M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$187M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$229M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$229M
Stock-Based Compensation	$70M
Deferred Income Tax	-$31M
Other Non-Cash Items	-$51M
Change in Working Capital	-$471M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$189M
Acquisitions (Net)	$0
Purchases of Investments	-$996M
Sales/Maturities of Investments	$1.5B
Other Investing Activities	-$4M
NET CASH FROM INVESTING	$266M
Net Debt Issuance	$0
Common Stock Repurchased	-$873M
Common Dividends Paid	-$611M
Other Financing Activities	-$11M
NET CASH FROM FINANCING	-$1.3B
FREE CASH FLOW	$923M
Net Change in Cash	$61M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$2.4B
Net Receivables	$1.5B
Inventory	$2.0B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.6B
PP&E (Net)	$2.7B
Goodwill	$4.4B
Intangible Assets	$968M
Long-Term Investments	$271M
Tax Assets	$218M
Other Non-Current Assets	$362M
TOTAL NON-CURRENT ASSETS	$8.9B
TOTAL ASSETS	$17.5B
Account Payables	$488M
Short-Term Debt	$500M
Deferred Revenue	$133M
Other Current Liabilities	-$133M
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$3.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$53M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$5.0B
TOTAL LIABILITIES	$6.9B
Common Stock	$1.7B
Additional Paid-In Capital	$1.8B
Retained Earnings	$35.6B
Treasury Stock	-$28.1B
Accum. Other Comp. Income	-$392M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.6B
Minority Interest	$0
TOTAL EQUITY	$10.6B
TOTAL LIABILITIES & EQUITY	$17.5B
Total Debt	$4.1B
Net Debt	$2.4B