Texas Instruments Q2 2024 10-Q Filing

TL;DR

TI's Q2 2024 10-Q is in: check the numbers for Analog and Embedded Processing segments.

AI Summary

Texas Instruments Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year, detailing revenues and profits across its various product segments, including Analog and Embedded Processing.

Why It Matters

This filing provides investors with Texas Instruments' official financial performance for the second quarter of 2024, crucial for understanding the company's current health and future prospects in the semiconductor market.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Players & Entities

• Texas Instruments Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240724 (date) — Filing date
• Analog (product_segment) — Key business segment
• Embedded Processing (product_segment) — Key business segment

FAQ

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 TXN The Nasdaq Global Select Market I

Filing Documents

• txn-20240630.htm (10-Q) — 1069KB
• q22024txnex10a.htm (EX-10.A) — 110KB
• q22024txnex31a.htm (EX-31.A) — 9KB
• q22024txnex31b.htm (EX-31.B) — 9KB
• q22024txnex32a.htm (EX-32.A) — 4KB
• q22024txnex32b.htm (EX-32.B) — 4KB
• 0000097476-24-000030.txt ( ) — 6437KB
• txn-20240630.xsd (EX-101.SCH) — 34KB
• txn-20240630_cal.xml (EX-101.CAL) — 69KB
• txn-20240630_def.xml (EX-101.DEF) — 125KB
• txn-20240630_lab.xml (EX-101.LAB) — 398KB
• txn-20240630_pre.xml (EX-101.PRE) — 284KB
• txn-20240630_htm.xml (XML) — 1324KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial statements

ITEM 1. Financial statements For Three Months Ended For Six Months Ended Consolidated Statements of Income June 30, June 30, (In millions, except per-share amounts) 2024 2023 2024 2023 Revenue $ 3,822 $ 4,531 $ 7,483 $ 8,910 Cost of revenue (COR) 1,611 1,621 3,177 3,137 Gross profit 2,211 2,910 4,306 5,773 Research and development (R&D) 498 477 976 932 Selling, general and administrative (SG&A) 465 461 920 935 Restructuring charges/other — — ( 124 ) — Operating profit 1,248 1,972 2,534 3,906 Other income (expense), net (OI&E) 130 119 253 199 Interest and debt expense 131 89 247 157 Income before income taxes 1,247 2,002 2,540 3,948 Provision for income taxes 120 280 308 518 Net income $ 1,127 $ 1,722 $ 2,232 $ 3,430 Earnings per common share (EPS): Basic $ 1.23 $ 1.89 $ 2.44 $ 3.76 Diluted $ 1.22 $ 1.87 $ 2.42 $ 3.72 Average shares outstanding: Basic 912 908 911 907 Diluted 919 916 918 916 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 $ 1,127 $ 1,722 $ 2,232 $ 3,430 Income allocated to RSUs ( 6 ) ( 8 ) ( 11 ) ( 18 ) Income allocated to common stock for diluted EPS $ 1,121 $ 1,714 $ 2,221 $ 3,412 See accompanying notes. 2 For Three Months Ended For Six Months Ended Consolidated Statements of Comprehensive Income June 30, June 30, (In millions) 2024 2023 2024 2023 Net income $ 1,127 $ 1,722 $ 2,232 $ 3,430 Other comprehensive income (loss) Net actuarial losses of defined benefit plans: Adjustments, net of tax effect of ($ 1 ) and ($ 2 ); ($ 3 ) and ($ 1 ) 1 2 6 — Recognized within net income, net of tax effect of ($ 1 ) and ($ 1 ); ($ 2 ) and ($ 2 ) 3 3 5 6 Derivative instruments: Change in fair value, net of tax effect of $ 0 and ($ 1 ); $ 0 and $ 0 — 3 1 1 Available-for-sale investments: Unrealized gains (losses), net of tax effect of $ 0 and $ 0 ; $ 2 and $ 0 ( 1 ) ( 2 ) ( 7 ) 1 Other

Notes to financial statements

Notes to financial statements 1. Description of business, including segment and geographic area information We design and manufacture semiconductors that we sell to electronics designers and manufacturers all over the world. We have two reportable segments, Analog and Embedded Processing, each of which represents groups of similar products that are combined on the basis of similar design and development requirements, product characteristics, manufacturing processes and distribution channels. Our segments also reflect how management allocates resources and measures results. Analog semiconductors change real-world signals, such as sound, temperature, pressure or images, by conditioning them, amplifying them and often converting them to a stream of digital data that can be processed by other semiconductors, such as embedded processors. Analog semiconductors are also used to manage power in all electronic equipment by converting, distributing, storing, discharging, isolating and measuring electrical energy, whether the equipment is plugged into a wall or using a battery. Our Analog segment consists of two major product lines: Power and Signal Chain. Embedded Processing products are the digital "brains" of many types of electronic equipment. They are designed to handle specific tasks and can be optimized for various combinations of performance, power and cost, depending on the application. We report the results of our remaining business activities in Other. Other includes operating segments that do not meet the quantitative thresholds for individually reportable segments and cannot be aggregated with other operating segments. Other includes DLP products, calculators and custom ASIC products. Our centralized manufacturing and support organizations, such as facilities, procurement and logistics, provide support to our operating segments, including those in Other. Costs incurred by these organizations, including depreciation, are charged to the segments on a per-unit

View Full Filing

View this 10-Q filing on SEC EDGAR