Texas Instruments Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Texas Instruments Inc. has filed its 2023 10-K report detailing financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

TEXAS INSTRUMENTS INC (TXN) filed a Annual Report (10-K) with the SEC on February 2, 2024. Texas Instruments Inc. filed its 2023 Form 10-K on February 2, 2024. The report covers the fiscal year ending December 31, 2023. The company is incorporated in Delaware and operates in the Semiconductors & Related Devices industry. Key financial data for 2023, 2022, and 2021 is included. The filing details various financial statement line items and segment information.

Why It Matters

For investors and stakeholders tracking TEXAS INSTRUMENTS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Texas Instruments' financial health, operational performance, and strategic positioning for the past fiscal year, crucial for investors and analysts assessing the company's value and future prospects. The detailed financial statements and segment reporting within the 10-K offer insights into revenue streams, profitability, and the performance of different business units, enabling stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: medium — TEXAS INSTRUMENTS INC shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. However, the semiconductor industry is subject to cyclicality and geopolitical risks, which are inherent to the business and could impact future performance.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Texas Instruments' performance and potential challenges in the semiconductor market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the report)
• 2024-02-02 — Filing Date (Date the 10-K was filed)
• 107 — Public Document Count (Number of documents in the filing)
• 2023 — Report Year (Fiscal year for which the report is filed)

Key Players & Entities

• TEXAS INSTRUMENTS INC (company) — Filer name
• 0000097476 (company) — Central Index Key
• 3674 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• DALLAS (company) — Business Address City
• TX (company) — Business Address State
• 75266 (company) — Business Address Zip
• 9729953773 (company) — Business Phone

Forward-Looking Statements

• Texas Instruments will continue to focus on its core semiconductor and related devices business. (TEXAS INSTRUMENTS INC) — high confidence, target: 2024-12-31
• The company's financial performance in 2024 will be heavily influenced by global semiconductor market demand. (TEXAS INSTRUMENTS INC) — medium confidence, target: 2024-12-31

FAQ

Industry Context

Texas Instruments operates in the Semiconductors & Related Devices industry, a sector characterized by rapid technological advancements, global supply chains, and significant capital investment.

Regulatory Implications

The filing is a standard Form 10-K, a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Examine segment reporting to understand the performance of different business units.
3. Review any disclosed risk factors to assess potential challenges and uncertainties.

Key Dates

• 2024-02-02: 10-K Filing — Official filing of the annual report for fiscal year 2023.

Year-Over-Year Comparison

This is the initial filing of the 2023 10-K report.

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 TXN The Nasdaq Global Select Market Se
• $17.52 billion — ivities in Other. In 2023, we generated $17.52 billion of revenue. For decades, we have opera
• $94 b — period from 2014 to 2023, we allocated $94 billion, which reinforces the importance
• $15 billion — In this period, we allocated just over $15 billion to capital expenditures. Our increased
• $13.04 billion — . Analog Our Analog segment generated $13.04 billion of revenue in 2023. Analog semiconducto
• $3.37 billion — r Embedded Processing segment generated $3.37 billion of revenue in 2023. Embedded Processing
• $1.11 billion — her operating segments. Other generated $1.11 billion of revenue in 2023 and includes revenue

Filing Documents

• txn-20231231.htm (10-K) — 1967KB
• q42023txnex10k.htm (EX-10.K) — 57KB
• q42023txnex10l.htm (EX-10.L) — 58KB
• q42023txnex21.htm (EX-21) — 37KB
• q42023txnex23.htm (EX-23) — 3KB
• q42023txnex31a.htm (EX-31.A) — 9KB
• q42023txnex31b.htm (EX-31.B) — 9KB
• q42023txnex32a.htm (EX-32.A) — 3KB
• q42023txnex32b.htm (EX-32.B) — 3KB
• q42023txnex97.htm (EX-97) — 10KB
• 0000097476-24-000007.txt (&nbsp;) — 12109KB
• txn-20231231.xsd (EX-101.SCH) — 63KB
• txn-20231231_cal.xml (EX-101.CAL) — 124KB
• txn-20231231_def.xml (EX-101.DEF) — 354KB
• txn-20231231_lab.xml (EX-101.LAB) — 897KB
• txn-20231231_pre.xml (EX-101.PRE) — 643KB
• txn-20231231_htm.xml (XML) — 2385KB

Business

ITEM 1. Business We design and manufacture semiconductors that we sell to electronics designers and manufacturers all over the world. Our operations began in 1930, and we are incorporated in Delaware. With headquarters in Dallas, Texas, we have design, manufacturing or sales operations in more than 30 countries. Our two reportable segments are Analog and Embedded Processing, and we report the results of our remaining business activities in Other. In 2023, we generated $17.52 billion of revenue. For decades, we have operated with a passion to create a better world by making electronics more affordable through semiconductors. We were pioneers in the transition from vacuum tubes to transistors and then to integrated circuits. As each generation has become more reliable, more affordable and lower in power, semiconductors are used by a growing number of customers and markets. Our passion continues to be alive today as we help our customers develop electronics and new applications, particularly in industrial and automotive markets. For many years, we have run our business with three overarching ambitions in mind. First, we will act like owners who will own the company for decades. Second, we will adapt and succeed in a world that is ever changing. And third, we will be a company that we are personally proud to be a part of and that we would want as our neighbor. Our ambitions are foundational to ensuring that we operate in a sustainable, socially thoughtful and environmentally responsible manner. When we are successful in achieving these ambitions, our employees, customers, communities and shareholders all win. As engineers, we are fortunate to work on exciting technology which helps our customers innovate to create a better world. Technology is the foundation of our company, but ultimately, our objective and the best metric for owners to measure our progress is through the growth of free cash flow per share over the long term. Our strategy to maximize long-term free

Risk factors

ITEM 1A. Risk factors You should read the following risk factors in conjunction with the factors discussed elsewhere in this and other of our filings with the Securities and Exchange Commission (SEC) and in materials incorporated by reference into these filings. These risk factors are intended to highlight certain factors that may affect our financial condition and results of operations and are not meant to be an exhaustive discussion of risks that apply to TI, a company with broad international operations. Like many companies, we are susceptible to a potential downturn associated with macroeconomic weakness, which may affect our performance and the performance of our customers. Similarly, the price of our securities is subject to volatility due to fluctuations in general market conditions, actual financial results that do not meet our and/or the investment community's expectations, changes in our and/or the investment community's expectations for our future results, dividends or share repurchases, and other factors, many of which are beyond our control. Risks related to our business and industry Our global operations subject us to risks associated with domestic or international political, social, economic or other conditions. We have facilities in more than 30 countries. About 65% of our revenue comes from customers with headquarter locations outside the United States; revenue from end customers headquartered in China represents about 20% of our revenue. We also continue to expand our offerings of online transactions and services worldwide. Certain countries where we operate have experienced, and other countries may experience, geopolitical tensions that affect global trade and macroeconomic conditions through the enactment of tariffs, import or export restrictions, trade embargoes and sanctions, restrictions on cross-border investment and other trade barriers. Geopolitical tensions may impact our ability to deliver products, support customers, receive manufact