德州仪器公司（TI）发布 2023 年第二季度财务业绩与股东回报

Q2 2023

Q2 2022

变化

营业收入

$

4,531

$

5,212

(13)%

营业利润

$

1,972

$

2,723

(28)%

净收入

$

1,722

$

2,291

(25)%

每股收益

$

1.87

$

2.45

(24) %

最近连续12个月

Q2 2023

Q2 2023

Q2 2022

变化

经营现金流

$

1,399

$

7,367

$

8,697

(15)%

资本支出

$

1,446

$

4,185

$

2,808

49%

自由现金流

$

（47）

$

3,182

$

5,889

(46)%

自由现金流占营业收入百分比

16.9%

30.1%

最近连续12个月

Q2 2023

Q2 2023

Q2 2022

变化

分派股息

$

1,125

$

4,424

$

4,127

7%

股票回购

$

79

$

2,026

$

2,052

(1)%

总现金回报

$

1,204

$

6,450

$

6,179

4%

TEXASINSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Income

For Three Months Ended

June 30,

(In millions, except per-share amounts)

2023

2022

Revenue

$

4,531

$

5,212

Cost of revenue (COR)

1,621

1, 587

Gross profit

2,910

3,625

Research and development (R&D)

477

414

Selling, general and administrative (SG&A)

461

422

Restructuring charges/other

—

66

Operating profit

1,972

2,723

Other income (expense), net (OI&E)

119

7

Interest and debt expense

89

49

Income before income taxes

2,002

2,681

Provision for income taxes

280

390

Net income

$

1,722

$

2,291

Diluted earnings per common share

$

1.87

$

2.45

Average shares outstanding:

Basic

908

920

Diluted

916

930

Cash dividends declared per common share

$

1.24

$

1.15

Supplemental Information

(Quarterly, except as noted)

Provision for income taxes is based on the following:

Operating taxes (calculated using the estimated annual effective tax rate)

$

289

$

395

Discrete tax items

(9)

(5)

Provision for income taxes (effective taxes)

$

280

$

390

A portion of net income is allocated to unvested restricted stock units (RSUs) on which we pay dividend equivalents. Diluted EPS is calculated using the following:

Net income

$

1,722

$

2,291

Income allocated to RSUs

(8)

(10)

Income allocated to common stock for diluted EPS

$

1, 714

$

2,281

TEXASINSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

June 30,

(In millions, except par value)

2023

2022

Assets

Current assets:

Cash and cash equivalents

$

3,439

$

3,802

Short-term investments

6,113

4,585

Accounts receivable, net of allowances of ($16) and ($12)

1,956

2,190

Raw materials

388

305

Work in process

2,110

1,258

Finished goods

1,231

636

Inventories

3,729

2,199

Prepaid expenses and other current assets

277

267

Total current assets

15,514

13,043

Property, plant and equipment at cost

11,664

8,825

Accumulated depreciation

(3,139)

(2,894)

Property, plant and equipment

8,525

5,931

Goodwill

4,362

4,362

Deferred tax assets

537

293

Capitalized software licenses

143

82

Overfunded retirement plans

183

296

Other long-term assets

1,675

716

Total assets

$

30,939

$

24,723

Liabilities and stockholders’ equity

Current liabilities:

Current portion of long-term debt

$

299

$

499

Accounts payable

923

712

Accrued compensation

561

520

Income taxes payable

121

115

Accrued expenses and other liabilities

807

714

Total current liabilities

2,711

2,560

Long-term debt

10,920

6,745

Underfunded retirement plans

127

71

Deferred tax liabilities

69

90

Other long-term liabilities

1,172

1,165

Total liabilities

14,999

10,631

Stockholders’ equity:

Preferred stock,$25par value. Shares authorized – 10; none issued

—

—

Common stock,$1par value. Shares authorized – 2,400; shares issued – 1,741

1,741

1,741

Paid-in capital

3,163

2,783

Retained earnings

51,522

48,280

Treasury common stock at cost

Shares:June 30, 2023 – 833; June 30, 2022 – 826

(40,240)

(38,532)

Accumulated other comprehensive income (loss), net of taxes (AOCI)

(246)

(180)

Total stockholders’ equity

15, 940

14,092

Total liabilities and stockholders’ equity

$

30,939

$

24,723

TEXASINSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Statements of Cash Flows

For Three Months Ended

June 30,

(In millions)

2023

2022

Cash flows from operating activities

Net income

$

1,722

$

2,291

Adjustments to net income:

Depreciation

285

227

Amortization of capitalized software

15

13

Stock compensation

111

85

Gains on sales of assets

(1)

(1)

Deferred taxes

(52)

(14)

Increase (decrease) from changes in:

Accounts receivable

(79)

(395)

Inventories

(441)

(139)

Prepaid expenses and other current assets

14

(1)

Accounts payable and accrued expenses

74

19

Accrued compensation

165

134

Income taxes payable

(243)

(279)

Changes in funded status of retirement plans

17

49

Other

(188)

(221)

Cash flows from operating activities

1, 399

1,768

Cash flows from investing activities

Capital expenditures

(1,446)

(597)

Proceeds from asset sales

1

1

Purchases of short-term investments

(4,047)

(2,461)

Proceeds from short-term investments

3,065

4,200

Other

42

82

Cash flows from investing activities

(2,385)

1,225

Cash flows from financing activities

Proceeds from issuance of long-term debt

1,603

—

Repayment of debt

(500)

(500)

Dividends paid

(1,125)

(1,060)

Stock repurchases

(79)

(1,182)

Proceeds from common stock transactions

65

56

Other

(16)

(10)

Cash flows from financing activities

(52)

(2,696)

Net change in cash and cash equivalents

(1,038)

297

Cash and cash equivalents at beginning of period

4,477

3,505

Cash and cash equivalents at end of period

$

3,439

$

3,802

Q2 2023

Q2 2022

变化

模拟：

营业收入

$

3,278

$

3,992

(18)%

营业利润

$

1,463

$

2,226

(34)%

嵌入式处理：

营业收入

$

894

$

821

9 %

营业利润

$

318

$

324

(2) %

其他：

营业收入

$

359

$

399

(10)%

营业利润*

$

191

$

173

10%

For 12 Months Ended

June 30,

2023

2022

Change

Cash flow from operations (GAAP)

$

7,367

$

8,697

(15) %

Capital expenditures

(4,185)

(2,808)

Free cash flow (non-GAAP)

$

3,182

$

5,889

(46) %

Revenue

$

18,821

$

19,592

Cash flow from operations as a percentage of revenue (GAAP)

39.1%

44.4%

Free cash flow as a percentage of revenue (non-GAAP)

16.9%

30.1%