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TEXAS INSTRUMENTS38 ■ 2011 ANNUAL REPORT
ANNUAL
REPORT
For Years Ended December 31,
Summary of selected financial data 2011 2010 2009 2008 2007
[Millions of dollars, except share and per-share amounts]
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 13,735 $ 13,966 $ 10,427 $ 12,501 $ 13,835
Operating costs and expenses (a) (b) (c) . . . . . . . . . . . . . 10,743 9,452 8,436 10,064 10,338
Operating profit. . . . . . . . . . . . . . . . . . . . . . . . . . 2,992 4,514 1,991 2,437 3,497
Other income (expense) net (d) . . . . . . . . . . . . . . . . . . (37) 37 26 44 195
Income from continuing operations before income taxes . . . . . 2,955 4,551 2,017 2,481 3,692
Provision for income taxes . . . . . . . . . . . . . . . . . . . . 719 1,323 547 561 1,051
Income from continuing operations . . . . . . . . . . . . . . . . 2,236 3,228 1,470 1,920 2,641
Income from discontinued operations, net of income taxes . . . . —— — — 16
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,236 $ 3,228 $ 1,470 $ 1,920 $ 2,657
Basic income from continuing operations per common share . . . $ 1.91 $ 2.66 $ 1.16 $ 1.46 $ 1.86
Diluted income from continuing operations per
common share . . . . . . . . . . . . . . . . . . . . . . . . $ 1.88 $ 2.62 $ 1.15 $ 1.44 $ 1.82
Dividends declared per common share . . . . . . . . . . . . . . $ 0.56 $ 0.49 $ 0.45 $ 0.41 $ 0.30
Average dilutive potential common shares outstanding
during year, in thousands . . . . . . . . . . . . . . . . . . . 1,171,364 1,212,940 1,268,533 1,321,250 1,444,163
(a) In 2011, we acquired National and incurred acquisition-related charges of $426 million.
(b) Includes Restructuring charges of $112 million, $33 million, $212 million, $254 million and $52 million in 2011, 2010, 2009, 2008
and 2007, respectively.
(c) Includes gains from the divestiture of product lines of $144 million in 2010 and $39 million in 2007.
(d) Includes Interest and debt expense of $42 million in 2011.
December 31,
2011 2010 2009 2008 2007
Working capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,329 $ 5,079 $ 4,527 $ 4,258 $ 4,893
Property, plant and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . 4,428 3,680 3,158 3,304 3,609
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,497 13,401 12,119 11,923 12,667
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,211 ————
Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,952 10,437 9,722 9,326 9,975
Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,759 28,412 26,584 29,537 30,175
Stockholders of record . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,733 20,525 24,190 25,107 26,037
For Years Ended December 31,
2011 2010 2009 2008 2007
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . $3,256 $3,820 $2,643 $3,330 $4,407
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 816 1,199 753 763 686
Dividends declared and paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 644 592 567 537 425
Stock repurchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,973 2,454 954 2,122 4,886
See Notes to financial statements and Management’s discussion and analysis of financial condition and results of operation.