Texas Instruments — Apr 23, 2025 release

• "Over the past 12 months we invested $3.8 billion in R&D and SG&A, invested $4.7 billion in capital expenditures and returned $6.4 billion to owners. • "TI's second quarter outlook is for revenue in the range of $4.17 billion to $4.53 billion and earnings per share between $1.21 and $1.47. In addition, in second quarter, we now expect our effective tax rate to be about 12% to 13%."                  1     Free cash flow, a non-GAAP financial measure, is cash flow from operations less capital expenditures, plus proceeds from U.S. CHIPS and Science Act (CHIPS Act) incentives. Earnings summary (In millions, except per-share amounts) Q1 2025 Q1 2024 Change Revenue $ 4,069  $ 3,661  11  % Operating profit $ 1,324  $ 1,286  3  % Net income $ 1,179  $ 1,105  7  % Earnings per share $ 1.28  $ 1.20  7  % Cash generation   Trailing 12 Months (In millions) Q1 2025 Q1 2025 Q1 2024 Change Cash flow from operations $ 849  $ 6,150  $ 6,277  (2) % Free cash flow $ (14) $ 1,715  $ 940  82  % Free cash flow % of revenue   10.7  % 5.6  %   Cash return   Trailing 12 Months (In millions) Q1 2025 Q1 2025 Q1 2024 Change Dividends paid $ 1,238  $ 4,850  $ 4,615  5  % Stock repurchases $ 653  $ 1,579  $ 193  718  % Total cash returned $ 1,891  $ 6,429  $ 4,808  34  %                  2     TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES Consolidated Statements of Income For Three Months Ended March 31, (In millions, except per-share amounts) 2025 2024 Revenue $ 4,069   $ 3,661  Cost of revenue (COR) 1,756   1,566  Gross profit 2,313   2,095  Research and development (R&D) 517   478