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FORM 10-K
Effect on shares outstanding and treasury shares
Treasury shares were acquired in connection with the board-authorized stock repurchase program. As of December 31, 2014,
$3.17 billion of stock repurchase authorizations remain, and no expiration date has been specified.
Our current practice is to issue shares of common stock from treasury shares upon exercise of stock options, distribution of director
deferred compensation and vesting of RSUs. The table below reflects the changes in our treasury shares:
Stock Options RSUs Treasury Shares
Balance, December 31, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 601,131,631
Repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59,757,780
Shares used for:
Stock options/RSUs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (22,409,816) (4,182,928)
Previously unissued common shares (a) . . . . . . . . . . . . . . . . . . . . 180,955 4,593
Stock applied to taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 990,845
ESPP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,829,498) —
Director deferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (6,592)
Total issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (25,058,359) (3,187,490) (28,245,849)
Balance, December 31, 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 632,636,970
Repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77,564,013
Shares used for:
Stock options/RSUs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (45,507,711) (5,741,981)
Stock applied to taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 1,461,422
ESPP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,386,834) —
Director deferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (12,909)
Total issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (47,894,545) (4,280,559) (52,175,104)
Balance, December 31, 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 658,012,970
Repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61,665,209
Shares used for:
Stock options/RSUs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (19,503,382) (5,609,627)
Stock applied to exercises or taxes . . . . . . . . . . . . . . . . . . . . . 6,618 1,408,701
ESPP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,784,184) —
Director deferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (7,178)
Total issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (21,280,948) (4,200,926) (25,481,874)
Balance, December 31, 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . 694,189,127
(a) Beginning in 2013, only treasury shares were issued.
Shares available for future grants and reserved for issuance are summarized below:
December 31, 2014
Shares
Long- Term Incentive
and Director
Compensation Plans
Employee Stock
Purchase Plan Total
Reserved for issuance (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121,127,656 39,565,038 160,692,694
Shares to be issued upon exercise of outstanding options and RSUs (a) . . . . (75,086,983) (374,703) (75,461,686)
Available for future grants . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,040,673 39,190,335 85,231,008
(a) Includes 135,722 shares credited to directors’ deferred stock accounts that settle in shares of TI common stock. These shares are
not included as grants outstanding at December 31, 2014.
The effects on cash flows were as follows :
For Years Ended December 31,
2014 2013 2012
Proceeds from common stock transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 616 $ 1,314 $ 523
Tax benefit realized from stock options exercised . . . . . . . . . . . . . . . . . . . . . . . . . . . 218 227 133