Texas Instruments — Oct 22, 2024 release

• "Over the past 12 months we invested $3.7 billion in R&D and SG&A, invested $4.8 billion in capital expenditures and returned $5.2 billion to owners. • "TI's fourth quarter outlook is for revenue in the range of $3.70 billion to $4.00 billion and earnings per share between $1.07 and $1.29. We continue to expect our fourth quarter effective tax rate to be about 13%." 1 Free cash flow, a non-GAAP financial measure, is cash flow from operations less capital expenditures. Earnings summary (In millions, except per-share amounts) Q3 2024 Q3 2023 Change Revenue $ 4,151  $ 4,532  (8) % Operating profit $ 1,554  $ 1,892  (18) % Net income $ 1,362  $ 1,709  (20) % Earnings per share $ 1.47  $ 1.85  (21) % Cash generation   Trailing 12 Months (In millions) Q3 2024 Q3 2024 Q3 2023 Change Cash flow from operations $ 1,732  $ 6,244  $ 6,538  (4) % Capital expenditures $ 1,316  $ 4,776  $ 4,890  (2) % Free cash flow $ 416  $ 1,468  $ 1,648  (11) % Free cash flow % of revenue   9.3  % 9.1  %   Cash return   Trailing 12 Months (In millions) Q3 2024 Q3 2024 Q3 2023 Change Dividends paid $ 1,187  $ 4,736  $ 4,499  5  % Stock repurchases $ 318  $ 457  $ 1,076  (58) % Total cash returned $ 1,505  $ 5,193  $ 5,575  (7) % 2 TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES Consolidated Statements of Income For Three Months Ended September 30, (In millions, except per-share amounts) 2024 2023 Revenue $ 4,151   $ 4,532  Cost of revenue (COR) 1,677   1,717  Gross profit 2,474   2,815  Research and development (R&D) 492   471  Selling, general and administrative (SG&A)