TXN Q4 2017 Earnings Report — Texas Instruments Incorporated Revenue & Financial Results | Market Cap Arena

Texas Instruments IncorporatedTXN

Q4 2017 Earnings

Reported February 22, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2017	Q3 2017	Q4 2016	QoQ Change	YoY Change
Revenue	$3.8B	$4.1B	$3.4B	-8.9%	9.8%
Op. Income	$1.6B	$1.8B	$1.3B	-12.6%	18.5%
Gross Margin	65.1%	64.5%	62.5%	0.5pp	2.6pp
Net Margin	9.2%	31.2%	30.7%	-22.0pp	-21.5pp
EPS (Diluted)	$0.34	$1.26	$1.02	-73.0%	-66.7%
Free Cash Flow	$1.7B	$1.5B	$1.3B	10.5%	33.0%

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.4B
R&D Expenses	$386M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$409M
Other Expenses	$82M
Operating Expenses	$877M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$21M
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$344M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$344M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$342M
D&A	$224M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.4B
R&D Expenses	$386M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$409M
Other Expenses	$82M
Operating Expenses	$877M
Cost & Expenses	$2.2B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$21M
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$1.2B
Net Income from Continuing Ops	$344M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$344M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$342M
D&A	$224M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$344M
Depreciation & Amortization	$224M
Stock-Based Compensation	$45M
Deferred Income Tax	$159M
Other Non-Cash Items	$28M
Change in Working Capital	$1.1B
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$231M
Acquisitions (Net)	$231M
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$790M
Other Investing Activities	-$238M
NET CASH FROM INVESTING	-$898M
Net Debt Issuance	$494M
Common Stock Repurchased	-$706M
Common Dividends Paid	-$611M
Other Financing Activities	-$10M
NET CASH FROM FINANCING	-$671M
FREE CASH FLOW	$1.7B
Net Change in Cash	$360M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$2.8B
Net Receivables	$1.3B
Inventory	$2.0B
Other Current Assets	$262M
TOTAL CURRENT ASSETS	$8.7B
PP&E (Net)	$2.7B
Goodwill	$4.4B
Intangible Assets	$1.1B
Long-Term Investments	$268M
Tax Assets	$264M
Other Non-Current Assets	$294M
TOTAL NON-CURRENT ASSETS	$8.9B
TOTAL ASSETS	$17.6B
Account Payables	$466M
Short-Term Debt	$500M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$3.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$78M
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$5.0B
TOTAL LIABILITIES	$7.3B
Common Stock	$1.7B
Additional Paid-In Capital	$1.8B
Retained Earnings	$34.7B
Treasury Stock	-$27.5B
Accum. Other Comp. Income	-$384M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.3B
Minority Interest	$0
TOTAL EQUITY	$10.3B
TOTAL LIABILITIES & EQUITY	$17.6B
Total Debt	$4.1B
Net Debt	$2.4B