Texas Instruments Q3 2024 10-Q Filing

TL;DR

TI's Q3 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 September 30, 2024. The filing details financial performance for the third quarter and the first nine months of the year, including revenue and profit figures across its various product segments like Analog and Embedded Processing.

Why It Matters

This filing provides investors with Texas Instruments' official financial results and operational updates for the third quarter of 2024, crucial for understanding the company's current performance and future outlook in the semiconductor industry.

Risk Assessment

Risk Level: medium — Semiconductor industry is subject to cyclical demand, technological shifts, and global supply chain disruptions, all of which can impact Texas Instruments' financial performance.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial period covered by the report.)
• 2024-10-23 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Texas Instruments Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-23 (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-20240930.htm (10-Q) — 1149KB
• q32024txnex31a.htm (EX-31.A) — 9KB
• q32024txnex31b.htm (EX-31.B) — 9KB
• q32024txnex32a.htm (EX-32.A) — 4KB
• q32024txnex32b.htm (EX-32.B) — 4KB
• 0000097476-24-000042.txt ( ) — 6706KB
• txn-20240930.xsd (EX-101.SCH) — 34KB
• txn-20240930_cal.xml (EX-101.CAL) — 73KB
• txn-20240930_def.xml (EX-101.DEF) — 127KB
• txn-20240930_lab.xml (EX-101.LAB) — 409KB
• txn-20240930_pre.xml (EX-101.PRE) — 291KB
• txn-20240930_htm.xml (XML) — 1467KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial statements

ITEM 1. Financial statements For Three Months Ended For Nine Months Ended Consolidated Statements of Income September 30, September 30, (In millions, except per-share amounts) 2024 2023 2024 2023 Revenue $ 4,151 $ 4,532 $ 11,634 $ 13,442 Cost of revenue (COR) 1,677 1,717 4,854 4,854 Gross profit 2,474 2,815 6,780 8,588 Research and development (R&D) 492 471 1,468 1,403 Selling, general and administrative (SG&A) 428 452 1,348 1,387 Restructuring charges/other — — ( 124 ) — Operating profit 1,554 1,892 4,088 5,798 Other income (expense), net (OI&E) 131 128 384 327 Interest and debt expense 131 98 378 255 Income before income taxes 1,554 1,922 4,094 5,870 Provision for income taxes 192 213 500 731 Net income $ 1,362 $ 1,709 $ 3,594 $ 5,139 Earnings per common share (EPS): Basic $ 1.48 $ 1.87 $ 3.92 $ 5.63 Diluted $ 1.47 $ 1.85 $ 3.89 $ 5.58 Average shares outstanding: Basic 913 908 912 908 Diluted 920 916 919 916 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 $ 1,362 $ 1,709 $ 3,594 $ 5,139 Income allocated to RSUs ( 7 ) ( 10 ) ( 18 ) ( 26 ) Income allocated to common stock for diluted EPS $ 1,355 $ 1,699 $ 3,576 $ 5,113 See accompanying notes. 2 For Three Months Ended For Nine Months Ended Consolidated Statements of Comprehensive Income September 30, September 30, (In millions) 2024 2023 2024 2023 Net income $ 1,362 $ 1,709 $ 3,594 $ 5,139 Other comprehensive income (loss) Net actuarial losses of defined benefit plans: Adjustments, net of tax effect of $ 5 and ($ 3 ); $ 2 and ($ 4 ) ( 11 ) 6 ( 5 ) 6 Recognized within net income, net of tax effect of ($ 1 ) and ($ 1 ); ($ 3 ) and ($ 3 ) 2 3 7 9 Prior service cost (credit) of defined benefit plans: Recognized within net income, net of tax effect of $ 0 and $ 0 ; $ 0 and $ 0 1 1 1 1 Derivative instruments: Change in fair value, net of tax effec

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