TXN Q2 2022 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q2 2022 Earnings

Reported July 27, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2022	Q1 2022	Q2 2021	QoQ Change	YoY Change
Revenue	$5.2B	$4.9B	$4.6B	6.3%	13.8%
Op. Income	$2.7B	$2.6B	$2.2B	6.2%	23.0%
Gross Margin	69.6%	70.2%	67.2%	-0.6pp	2.4pp
Net Margin	44.0%	44.9%	42.2%	-0.9pp	1.8pp
EPS (Diluted)	$2.45	$2.36	$2.05	3.8%	19.5%
Free Cash Flow	$1.2B	$1.7B	$1.7B	-31.2%	-32.5%

Revenue Flow

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$1.6B
GROSS PROFIT	$3.6B
R&D Expenses	$414M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$422M
Other Expenses	$66M
Operating Expenses	$902M
Cost & Expenses	$2.5B
OPERATING INCOME	$2.7B
Interest Income	$0
Interest Expense	$49M
Other Income/Expenses	-$42M
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$390M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$240M
EBIT	$2.7B
EBITDA	$3.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$1.6B
GROSS PROFIT	$3.6B
R&D Expenses	$414M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$422M
Other Expenses	$66M
Operating Expenses	$902M
Cost & Expenses	$2.5B
OPERATING INCOME	$2.7B
Interest Income	$0
Interest Expense	$49M
Other Income/Expenses	-$42M
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$390M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$240M
EBIT	$2.7B
EBITDA	$3.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.3B
Depreciation & Amortization	$240M
Stock-Based Compensation	$85M
Deferred Income Tax	-$14M
Other Non-Cash Items	-$173M
Change in Working Capital	-$661M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$597M
Acquisitions (Net)	$1M
Purchases of Investments	-$2.5B
Sales/Maturities of Investments	$4.2B
Other Investing Activities	$82M
NET CASH FROM INVESTING	$1.2B
Net Debt Issuance	-$500M
Common Stock Repurchased	-$1.2B
Common Dividends Paid	-$1.1B
Other Financing Activities	-$10M
NET CASH FROM FINANCING	-$2.7B
FREE CASH FLOW	$1.2B
Net Change in Cash	$297M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.8B
Short-Term Investments	$4.6B
Net Receivables	$2.2B
Inventory	$2.2B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$13.0B
PP&E (Net)	$5.9B
Goodwill	$4.4B
Intangible Assets	$82M
Long-Term Investments	$0
Tax Assets	$293M
Other Non-Current Assets	$1.0B
TOTAL NON-CURRENT ASSETS	$11.7B
TOTAL ASSETS	$24.7B
Account Payables	$712M
Short-Term Debt	$499M
Deferred Revenue	$0
Other Current Liabilities	$714M
TOTAL CURRENT LIABILITIES	$2.6B
Long-Term Debt	$6.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$90M
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$8.1B
TOTAL LIABILITIES	$10.6B
Common Stock	$1.7B
Additional Paid-In Capital	$2.8B
Retained Earnings	$48.3B
Treasury Stock	-$38.5B
Accum. Other Comp. Income	-$180M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.1B
Minority Interest	$0
TOTAL EQUITY	$14.1B
TOTAL LIABILITIES & EQUITY	$24.7B
Total Debt	$7.2B
Net Debt	$3.4B