Texas Instruments
(NASDAQ:TXN)

Texas Instruments Incorporated designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. It operates in two segments, Analog and Embedded Processing. The Analog segment offers power products to manage power requirements in various levels using battery mana...

Website: http://www.ti.com

Founded: 1930

Full Time Employees: 29,768

Sector: Technology

Industry: Semiconductors

Technology Semiconductors

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At a glance:

Resilient Free Cash Flow and Shareholder Returns: Texas Instruments typically generates strong operating cash flow and prioritizes returning capital via dividends and share repurchases, supported by a long history of dividend growth.
Cyclical End-Market Exposure Drives Earnings Volatility: Results are sensitive to global industrial and automotive demand cycles; analog and embedded chip demand can soften during inventory corrections and macro slowdowns, pressuring revenue and margins.
Analog Leadership with Long Product Lifecycles: TI’s large analog portfolio and long-lived products support durable cash generation, pricing discipline, and lower R&D obsolescence risk versus shorter-cycle semiconductor segments.
Capacity Expansion and Manufacturing Strategy a Key Swing Factor: Ongoing investment in internal manufacturing capacity (including 300mm analog) can improve long-term cost structure, but elevates near-term capex and execution risk if demand remains weak.
Competitive Landscape and China/Geopolitics Remain Watch Items: Competition in analog and embedded is steady, while export controls, regional demand shifts, and China exposure can influence growth, supply chain decisions, and customer diversification efforts.

Bull Thesis:

Dominant Market Position in Analog & Embedded Processing: Texas Instruments holds a leading and often dominant position in the critical analog and embedded processing markets. These foundational technologies are essential across a vast array of industries (automotive, industrial, personal electronics, communications), providing a broad, stable, and diversified revenue base with high barriers to entry for competitors.
Strong Free Cash Flow Generation & Shareholder Returns: TI is renowned for its robust free cash flow generation, a testament to its efficient operations and high-margin products. The company consistently returns a significant portion of this cash to shareholders through a long-standing dividend growth track record and share buybacks, indicating financial health and a strong commitment to shareholder value.
Strategic Manufacturing Advantage with 12-inch Fabs: TI's long-term strategy of investing in and expanding its own 12-inch wafer fabrication capacity provides a significant competitive advantage. This vertical integration offers better control over supply, cost, and capacity, enhancing resilience against supply chain disruptions and potentially leading to higher gross margins compared to fabless competitors.
Long Product Lifecycles & Sticky Customer Relationships: Many of TI's analog and embedded products are designed into systems with very long lifecycles (e.g., industrial equipment, automotive systems). Once designed in, these components are difficult and costly to replace, leading to sticky customer relationships, recurring revenue streams, and predictable demand over extended periods.

Bear Thesis:

Semiconductor Cyclicality & Inventory Adjustments: Despite diversification, TI remains exposed to the inherent cyclicality of the semiconductor industry. Periods of strong demand can be followed by oversupply and customer inventory corrections, leading to temporary slowdowns in order rates and revenue growth, as seen in recent quarters across the industry.
Intense Competition & Pricing Pressure: While a market leader, TI faces fierce competition from well-established players like Analog Devices, NXP, STMicroelectronics, Infineon, and Renesas across its various segments. This intense competitive landscape can lead to pricing pressure, potentially impacting margins and market share, especially in more commoditized product areas.
High Capital Expenditure Requirements: TI's strategic investment in its own 12-inch fabs, while a long-term advantage, requires substantial ongoing capital expenditure. These significant investments can temporarily weigh on free cash flow in the short to medium term and require careful management to ensure adequate returns on invested capital.
Geopolitical Risks & Supply Chain Vulnerabilities: As a global semiconductor company, TI is exposed to geopolitical tensions, trade disputes, and potential disruptions in its global supply chain. Any escalation of these risks, particularly concerning key manufacturing regions or raw material sourcing, could impact production, costs, and market access.

Main Competitors:

Analog Devices (ADI) ($ADI) (High-performance analog and mixed-signal ICs), Directly competes with Texas Instruments in high-performance analog and mixed-signal processing, including data converters, amplifiers, RF, and power management solutions across industrial, automotive, communications, and consumer markets. ADI often targets higher-performance, more specialized applications.
Infineon Technologies AG ($IFX.DE) (Power semiconductors, microcontrollers, sensors), Competes with TI in power management ICs, automotive microcontrollers, and industrial embedded solutions. Infineon has a strong focus on power efficiency and reliability, particularly in automotive, industrial, and security applications, overlapping significantly with TI's core segments.
STMicroelectronics N.V. ($STM) (Microcontrollers (STM32), power discretes, analog ICs, sensors), Offers a broad portfolio that competes with TI, especially in general-purpose microcontrollers (e.g., STM32 vs. TI's MSP430/C2000), power management, and a wide range of analog components for industrial, automotive, and consumer electronics. STMicro is known for its extensive MCU ecosystem.
NXP Semiconductors N.V. ($NXPI) (Automotive microcontrollers, industrial processors, secure edge solutions, analog), A major competitor in automotive and industrial markets, providing microcontrollers, processors, and analog solutions that directly compete with TI's embedded processing and analog offerings for these key segments. NXP has a strong focus on secure connectivity and processing at the edge.
Microchip Technology Inc. ($MCHP) (Microcontrollers (PIC, AVR), analog, FPGAs), Competes with TI across a wide range of microcontrollers (8-bit, 16-bit, 32-bit), analog components, and embedded solutions, particularly for industrial, automotive, and consumer applications. Microchip is known for its broad portfolio and strong presence in the embedded design community.

Moat:

Texas Instruments maintains a strong competitive moat through its vast and diverse portfolio of analog and embedded processing products, deep-rooted customer relationships, and significant manufacturing scale, including advanced 300mm wafer fabs for analog. Competition in the semiconductor industry is intense, characterized by continuous innovation, aggressive pricing, and the need for highly specialized application expertise. Competitors like Analog Devices often target high-performance niches, while Infineon, STMicroelectronics, NXP, and Microchip offer broad portfolios that overlap with TI's in key areas such as automotive, industrial, and general-purpose embedded systems. Differentiation is achieved through product performance, power efficiency, integration capabilities, and comprehensive ecosystem support, making the market highly dynamic and demanding.

Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30

revenue	4,825,000,000	4,423,000,000	4,742,000,000	4,448,000,000	4,069,000,000	4,007,000,000	4,151,000,000	3,822,000,000	3,661,000,000	4,077,000,000	4,532,000,000	4,531,000,000	4,379,000,000	4,670,000,000	5,241,000,000	5,212,000,000	4,905,000,000	4,832,000,000	4,643,000,000	4,580,000,000	4,289,000,000	4,076,000,000	3,817,000,000	3,239,000,000	3,329,000,000	3,350,000,000	3,771,000,000	3,668,000,000	3,594,000,000	3,717,000,000	4,261,000,000	4,017,000,000	3,789,000,000	3,750,000,000	4,116,000,000	3,693,000,000	3,402,000,000	3,414,000,000	3,675,000,000	3,273,000,000	3,008,000,000	3,189,000,000	3,429,000,000	3,232,000,000	3,150,000,000	3,269,000,000	3,501,000,000	3,292,000,000	2,983,000,000	3,244,000,000	3,047,000,000	2,885,000,000	3,390,000,000	3,335,000,000	3,121,000,000	3,466,000,000	3,458,000,000	3,392,000,000	3,525,000,000	3,740,000,000	3,496,000,000	3,205,000,000	2,880,000,000	2,457,000,000	2,086,000,000	3,387,000,000	3,351,000,000
yoy	18.58%	10.38%	14.24%	16.38%	11.14%	-1.72%	-8.41%	-15.65%	-16.40%	-12.70%	-13.53%	-13.07%	-10.72%	-3.35%	12.88%	13.80%	14.36%	18.55%	21.64%	41.40%	28.84%	21.67%	1.22%	-11.70%	-7.37%	-9.87%	-11.50%	-8.69%	-5.15%	-0.88%	3.52%	8.77%	11.38%	9.84%	12.00%	12.83%	13.10%	7.06%	7.17%	1.27%	-4.51%	-2.45%	-2.06%	-1.82%	5.60%	0.77%	14.90%	14.11%	-12.01%	-2.73%	-2.37%	-16.76%	-1.97%	-1.68%	-11.46%	-7.33%	-1.09%	5.83%	22.40%	52.22%	67.59%	-5.37%	-14.06%
qoq	9.09%	-6.73%	6.61%	9.31%	1.55%	-3.47%	8.61%	4.40%	-10.20%	-10.04%	0.02%	3.47%	-6.23%	-10.89%	0.56%	6.26%	1.51%	4.07%	1.38%	6.78%	5.23%	6.79%	17.85%	-2.70%	-0.63%	-11.16%	2.81%	2.06%	-3.31%	-12.77%	6.07%	6.02%	1.04%	-8.89%	11.45%	8.55%	-0.35%	-7.10%	12.28%	8.81%	-5.68%	-7.00%	6.10%	2.60%	-3.64%	-6.63%	6.35%	10.36%	-8.05%	6.47%	5.62%	-14.90%	1.65%	6.86%	-9.95%	0.23%	1.95%	-3.77%	-5.75%	6.98%	9.08%	11.28%	17.22%	17.79%	-38.41%	1.07%
cost of revenue	2,026,000,000	1,951,000,000	2,019,000,000	1,873,000,000	1,756,000,000	1,693,000,000	1,677,000,000	1,611,000,000	1,566,000,000	1,646,000,000	1,717,000,000	1,621,000,000	1,516,000,000	1,583,000,000	1,624,000,000	1,587,000,000	1,463,000,000	1,482,000,000	1,491,000,000	1,503,000,000	1,492,000,000	1,430,000,000	1,364,000,000	1,157,000,000	1,241,000,000	1,253,000,000	1,325,000,000	1,308,000,000	1,333,000,000	1,310,000,000	1,457,000,000	1,398,000,000	1,342,000,000	1,310,000,000	1,460,000,000	1,319,000,000	1,258,000,000	1,281,000,000	1,395,000,000	1,270,000,000	1,184,000,000	1,323,000,000	1,432,000,000	1,351,000,000	1,334,000,000	1,374,000,000	1,457,000,000	1,411,000,000	1,376,000,000	1,465,000,000	1,477,000,000	1,511,000,000	1,650,000,000	1,684,000,000	1,590,000,000	1,722,000,000	1,705,000,000	1,664,000,000	1,655,000,000	1,701,000,000	1,602,000,000	1,516,000,000	1,399,000,000	1,333,000,000	1,280,000,000	1,744,000,000	1,602,000,000	1,516,000,000	1,629,000,000	1,679,000,000
gross profit	2,799,000,000	2,472,000,000	2,723,000,000	2,575,000,000	2,313,000,000	2,314,000,000	2,474,000,000	2,211,000,000	2,095,000,000	2,431,000,000	2,815,000,000	2,910,000,000	2,863,000,000	3,087,000,000	3,617,000,000	3,625,000,000	3,442,000,000	3,350,000,000	3,152,000,000	3,077,000,000	2,797,000,000	2,646,000,000	2,453,000,000	2,082,000,000	2,088,000,000	2,097,000,000	2,446,000,000	2,360,000,000	2,261,000,000	2,407,000,000	2,804,000,000	2,619,000,000	2,447,000,000	2,440,000,000	2,656,000,000	2,374,000,000	2,144,000,000	2,133,000,000	2,280,000,000	2,003,000,000	1,824,000,000	1,866,000,000	1,997,000,000	1,881,000,000	1,816,000,000	1,895,000,000	2,044,000,000	1,881,000,000	1,607,000,000	1,779,000,000	1,570,000,000	1,374,000,000	1,740,000,000	1,651,000,000	1,531,000,000	1,744,000,000	1,753,000,000	1,728,000,000	1,870,000,000	2,039,000,000	1,894,000,000	1,689,000,000	1,481,000,000	1,124,000,000	806,000,000	1,643,000,000	1,749,000,000
yoy	21.01%	6.83%	10.06%	16.46%	10.41%	-4.81%	-12.11%	-24.02%	-26.83%	-21.25%	-22.17%	-19.72%	-16.82%	-7.85%	14.75%	17.81%	23.06%	26.61%	28.50%	47.79%	33.96%	26.18%	0.29%	-11.78%	-7.65%	-12.88%	-12.77%	-9.89%	-7.60%	-1.35%	5.57%	10.32%	14.13%	14.39%	16.49%	18.52%	17.54%	14.31%	14.17%	6.49%	0.44%	-1.53%	-2.30%	0.00%	13.01%	6.52%	30.19%	36.90%	-7.64%	7.75%	2.55%	-21.22%	-0.74%	-4.46%	-18.13%	-14.47%	-7.44%	2.31%	26.27%	81.41%	134.99%	2.80%	-15.32%
qoq	13.23%	-9.22%	5.75%	11.33%	-0.04%	-6.47%	11.90%	5.54%	-13.82%	-13.64%	-3.26%	1.64%	-7.26%	-14.65%	-0.22%	5.32%	2.75%	6.28%	2.44%	10.01%	5.71%	7.87%	17.82%	-0.29%	-0.43%	-14.27%	3.64%	4.38%	-6.07%	-14.16%	7.06%	7.03%	0.29%	-8.13%	11.88%	10.73%	0.52%	-6.45%	13.83%	9.81%	-2.25%	-6.56%	6.17%	3.58%	-4.17%	-7.29%	8.67%	17.05%	-9.67%	13.31%	14.26%	-21.03%	5.39%	7.84%	-12.21%	-0.51%	1.45%	-7.59%	-8.29%	7.66%	12.14%	14.04%	31.76%	39.45%	-50.94%	-6.06%
gross margin %	58.01%	55.89%	57.42%	57.89%	56.84%	57.75%	59.60%	57.85%	57.22%	59.63%	62.11%	64.22%	65.38%	66.10%	69.01%	69.55%	70.17%	69.33%	67.89%	67.18%	65.21%	64.92%	64.27%	64.28%	62.72%	62.60%	64.86%	64.34%	62.91%	64.76%	65.81%	65.20%	64.58%	65.07%	64.53%	64.28%	63.02%	62.48%	62.04%	61.20%	60.64%	58.51%	58.24%	58.20%	57.65%	57.97%	58.38%	57.14%	53.87%	54.84%	51.53%	47.63%	51.33%	49.51%	49.05%	50.32%	50.69%	50.94%	53.05%	54.52%	54.18%	52.70%	51.42%	45.75%	38.64%	48.51%	52.19%	NaN%	NaN%	NaN%
research and development	510,000,000	521,000,000	518,000,000	527,000,000	517,000,000	491,000,000	492,000,000	498,000,000	478,000,000	460,000,000	471,000,000	477,000,000	455,000,000	434,000,000	431,000,000	414,000,000	391,000,000	389,000,000	388,000,000	391,000,000	386,000,000	388,000,000	386,000,000	379,000,000	377,000,000	386,000,000	379,000,000	390,000,000	389,000,000	400,000,000	390,000,000	384,000,000	385,000,000	386,000,000	375,000,000	378,000,000	369,000,000	343,000,000	356,000,000	345,000,000	326,000,000	306,000,000	316,000,000	320,000,000	338,000,000	311,000,000	332,000,000	349,000,000	366,000,000	368,000,000	389,000,000	419,000,000	463,000,000	480,000,000	509,000,000	395,000,000	424,000,000	422,000,000	392,000,000	417,000,000	392,000,000	370,000,000	368,000,000	369,000,000	386,000,000	507,000,000	488,000,000	514,000,000	509,000,000	542,000,000
selling, general and administrative	464,000,000	446,000,000	457,000,000	485,000,000	472,000,000	446,000,000	428,000,000	465,000,000	455,000,000	438,000,000	452,000,000	461,000,000	474,000,000	429,000,000	431,000,000	422,000,000	422,000,000	404,000,000	412,000,000	425,000,000	425,000,000	398,000,000	407,000,000	401,000,000	417,000,000	412,000,000	399,000,000	420,000,000	414,000,000	414,000,000	396,000,000	441,000,000	433,000,000	409,000,000	412,000,000	434,000,000	439,000,000	411,000,000	448,000,000	460,000,000	448,000,000	405,000,000	434,000,000	470,000,000	439,000,000	429,000,000	463,000,000	472,000,000	479,000,000	465,000,000	471,000,000	459,000,000	453,000,000	456,000,000	462,000,000	388,000,000	411,000,000	396,000,000	390,000,000	391,000,000	378,000,000	359,000,000	340,000,000	327,000,000	305,000,000	390,000,000	428,000,000	435,000,000	422,000,000	429,000,000
acquisition charges	17,000,000																		47,000,000	48,000,000	47,000,000	47,000,000	51,000,000	50,000,000	50,000,000	50,000,000	79,000,000	80,000,000	79,000,000	79,000,000	80,000,000	79,000,000	80,000,000	79,000,000	80,000,000	79,000,000	80,000,000	80,000,000	80,000,000	79,000,000	80,000,000	81,000,000	83,000,000	82,000,000	83,000,000	82,000,000	83,000,000	82,000,000	83,000,000	86,000,000	86,000,000	86,000,000	106,000,000	104,000,000	153,000,000
operating profit	1,808,000,000	1,473,000,000	1,663,000,000	1,563,000,000	1,324,000,000	1,377,000,000	1,554,000,000	1,248,000,000	1,286,000,000	1,533,000,000	1,892,000,000	1,972,000,000	1,934,000,000	2,176,000,000	2,678,000,000	2,723,000,000	2,563,000,000	2,503,000,000	2,305,000,000	2,213,000,000	1,939,000,000	1,813,000,000	1,609,000,000	1,228,000,000	1,244,000,000	1,249,000,000	1,589,000,000	1,506,000,000	1,379,000,000	1,516,000,000	1,937,000,000	1,712,000,000	1,548,000,000	1,563,000,000	1,788,000,000	1,480,000,000	1,252,000,000	1,319,000,000	1,395,000,000	1,117,000,000	968,000,000	1,142,000,000	1,164,000,000	1,010,000,000	958,000,000	1,100,000,000	1,175,000,000	982,000,000	690,000,000	844,000,000	906,000,000	395,000,000	840,000,000	598,000,000	397,000,000	814,000,000	905,000,000	908,000,000	1,230,000,000	1,227,000,000	1,107,000,000	950,000,000	763,000,000	343,000,000	10,000,000	746,000,000	833,000,000
yoy	36.56%	6.97%	7.01%	25.24%	2.95%	-10.18%	-17.86%	-36.71%	-33.51%	-29.55%	-29.35%	-27.58%	-24.54%	-13.06%	16.18%	23.05%	32.18%	38.06%	43.26%	80.21%	55.87%	45.16%	1.26%	-18.46%	-9.79%	-17.61%	-17.97%	-12.03%	-10.92%	-3.01%	8.33%	15.68%	23.64%	18.50%	28.17%	32.50%	29.34%	15.50%	19.85%	10.59%	1.04%	3.82%	-0.94%	2.85%	38.84%	30.33%	29.69%	148.61%	-17.86%	41.14%	128.21%	-51.47%	-7.18%	-34.14%	-67.72%	-33.66%	-18.25%	-4.42%	61.21%	257.73%	10970.00%	27.35%	-8.40%
qoq	22.74%	-11.43%	6.40%	18.05%	-3.85%	-11.39%	24.52%	-2.95%	-16.11%	-18.97%	-4.06%	1.96%	-11.12%	-18.75%	-1.65%	6.24%	2.40%	8.59%	4.16%	14.13%	6.95%	12.68%	31.03%	-1.29%	-0.40%	-21.40%	5.51%	9.21%	-9.04%	-21.73%	13.14%	10.59%	-0.96%	-12.58%	20.81%	18.21%	-5.08%	-5.45%	24.89%	15.39%	-15.24%	-1.89%	15.25%	5.43%	-12.91%	-6.38%	19.65%	42.32%	-18.25%	-6.84%	129.37%	-52.98%	40.47%	50.63%	-51.23%	-10.06%	-0.33%	-26.18%	0.24%	10.84%	16.53%	24.51%	122.45%	3330.00%	-98.66%	-10.44%
operating margin %	37.47%	33.30%	35.07%	35.14%	32.54%	34.36%	37.44%	32.65%	35.13%	37.60%	41.75%	43.52%	44.17%	46.60%	51.10%	52.24%	52.25%	51.80%	49.64%	48.32%	45.21%	44.48%	42.15%	37.91%	37.37%	37.28%	42.14%	41.06%	38.37%	40.79%	45.46%	42.62%	40.86%	41.68%	43.44%	40.08%	36.80%	38.64%	37.96%	34.13%	32.18%	35.81%	33.95%	31.25%	30.41%	33.65%	33.56%	29.83%	23.13%	26.02%	29.73%	13.69%	24.78%	17.93%	12.72%	23.49%	26.17%	26.77%	34.89%	32.81%	31.66%	29.64%	26.49%	13.96%	0.48%	22.03%	24.86%	NaN%	NaN%	NaN%
other income	47,000,000	40,000,000	62,000,000	48,000,000	80,000,000	112,000,000	131,000,000	130,000,000	123,000,000	113,000,000	128,000,000	119,000,000	80,000,000	51,000,000	33,000,000	7,000,000	15,000,000	9,000,000	15,000,000	73,000,000	46,000,000	162,000,000	27,000,000	99,000,000	25,000,000	53,000,000	34,000,000	52,000,000	36,000,000	23,000,000	23,000,000	24,000,000	28,000,000	8,000,000	20,000,000	26,000,000	21,000,000	197,000,000	4,000,000	6,000,000	4,000,000	19,000,000	6,000,000	3,000,000	4,000,000	9,000,000	3,000,000	3,000,000	6,000,000	-4,000,000		2,000,000	24,000,000
interest and debt expense	141,000,000	141,000,000	141,000,000	133,000,000	128,000,000	130,000,000	131,000,000	131,000,000	116,000,000	98,000,000	98,000,000	89,000,000	68,000,000	60,000,000	53,000,000	49,000,000	52,000,000	49,000,000	45,000,000	44,000,000	46,000,000	48,000,000	49,000,000	48,000,000	45,000,000	45,000,000	43,000,000	44,000,000	38,000,000	36,000,000	36,000,000	30,000,000	23,000,000	21,000,000	19,000,000	20,000,000	18,000,000	19,000,000	18,000,000	21,000,000	22,000,000	22,000,000	22,000,000	24,000,000	22,000,000	22,000,000	23,000,000	24,000,000	25,000,000	24,000,000	24,000,000	23,000,000	21,000,000	20,000,000	21,000,000	15,000,000	6,000,000
income before income taxes	1,714,000,000	1,372,000,000	1,584,000,000	1,478,000,000	1,276,000,000	1,359,000,000	1,554,000,000	1,247,000,000	1,293,000,000	1,548,000,000	1,922,000,000	2,002,000,000	1,946,000,000	2,167,000,000	2,658,000,000	2,681,000,000	2,526,000,000	2,463,000,000	2,275,000,000	2,242,000,000	1,939,000,000	1,927,000,000	1,587,000,000	1,279,000,000	1,224,000,000	1,257,000,000	1,580,000,000	1,514,000,000	1,377,000,000	1,503,000,000	1,924,000,000	1,706,000,000	1,553,000,000	1,550,000,000	1,789,000,000	1,486,000,000	1,255,000,000	1,497,000,000	1,381,000,000	1,102,000,000	950,000,000	1,139,000,000	1,148,000,000	989,000,000	940,000,000	1,087,000,000	1,155,000,000	961,000,000	671,000,000	816,000,000	882,000,000	374,000,000	843,000,000	576,000,000	362,000,000	780,000,000	909,000,000	918,000,000	1,248,000,000	1,235,000,000	1,111,000,000	957,000,000	765,000,000	356,000,000	15,000,000
provision for income taxes	169,000,000	209,000,000	220,000,000	183,000,000	97,000,000	154,000,000	192,000,000	120,000,000	188,000,000	177,000,000	213,000,000	280,000,000	238,000,000	205,000,000	363,000,000	390,000,000	325,000,000	325,000,000	328,000,000	311,000,000	186,000,000	239,000,000	234,000,000	-101,000,000	50,000,000	187,000,000	155,000,000	209,000,000	160,000,000	264,000,000	354,000,000	301,000,000	187,000,000				258,000,000				282,000,000	231,750,000	350,000,000																254,250,000	376,000,000	342,000,000	299,000,000
net income	1,545,000,000	1,163,000,000	1,364,000,000	1,295,000,000	1,179,000,000	1,205,000,000	1,362,000,000	1,127,000,000	1,105,000,000	1,371,000,000	1,709,000,000	1,722,000,000	1,708,000,000	1,962,000,000	2,295,000,000	2,291,000,000	2,201,000,000	2,138,000,000	1,947,000,000	1,931,000,000	1,753,000,000	1,688,000,000	1,353,000,000	1,380,000,000	1,174,000,000	1,070,000,000	1,425,000,000	1,305,000,000	1,217,000,000	1,239,000,000	1,570,000,000	1,405,000,000	1,366,000,000	344,000,000	1,285,000,000	1,056,000,000	997,000,000	1,180,000,000	968,000,000	779,000,000	668,000,000	836,000,000	798,000,000	696,000,000	656,000,000	825,000,000	826,000,000	683,000,000	487,000,000	629,000,000	660,000,000	362,000,000	784,000,000	446,000,000	265,000,000	601,000,000	672,000,000	666,000,000	942,000,000	859,000,000	769,000,000	658,000,000	538,000,000	260,000,000	17,000,000	563,000,000	588,000,000	662,000,000	755,000,000	776,000,000
yoy	31.04%	-3.49%	0.15%	14.91%	6.70%	-12.11%	-20.30%	-34.55%	-35.30%	-30.12%	-25.53%	-24.84%	-22.40%	-8.23%	17.87%	18.64%	25.56%	26.66%	43.90%	39.93%	49.32%	57.76%	-5.05%	5.75%	-3.53%	-13.64%	-9.24%	-7.12%	-10.91%	260.17%	22.18%	33.05%	37.01%	-70.85%	32.75%	35.56%	49.25%	41.15%	21.30%	11.93%	1.83%	1.33%	-3.39%	1.90%	34.70%	31.16%	25.15%	88.67%	-37.88%	41.03%	149.06%	-39.77%	16.67%	-33.03%	-71.87%	-30.03%	-12.61%	1.22%	75.09%	230.38%	4423.53%	16.87%	-8.50%	-60.73%	-97.75%	-27.45%
qoq	32.85%	-14.74%	5.33%	9.84%	-2.16%	-11.53%	20.85%	1.99%	-19.40%	-19.78%	-0.75%	0.82%	-12.95%	-14.51%	0.17%	4.09%	2.95%	9.81%	0.83%	10.15%	3.85%	24.76%	-1.96%	17.55%	9.72%	-24.91%	9.20%	7.23%	-1.78%	-21.08%	11.74%	2.86%	297.09%	-73.23%	21.69%	5.92%	-15.51%	21.90%	24.26%	16.62%	-20.10%	4.76%	14.66%	6.10%	-20.48%	-0.12%	20.94%	40.25%	-22.58%	-4.70%	82.32%	-53.83%	75.78%	68.30%	-55.91%	-10.57%	0.90%	-29.30%	9.66%	11.70%	16.87%	22.30%	106.92%	1429.41%	-96.98%	-4.25%	-11.18%	-12.32%	-2.71%
net income margin %	32.02%	26.29%	28.76%	29.11%	28.98%	30.07%	32.81%	29.49%	30.18%	33.63%	37.71%	38.00%	39.00%	42.01%	43.79%	43.96%	44.87%	44.25%	41.93%	42.16%	40.87%	41.41%	35.45%	42.61%	35.27%	31.94%	37.79%	35.58%	33.86%	33.33%	36.85%	34.98%	36.05%	9.17%	31.22%	28.59%	29.31%	34.56%	26.34%	23.80%	22.21%	26.22%	23.27%	21.53%	20.83%	25.24%	23.59%	20.75%	16.33%	19.39%	21.66%	12.55%	23.13%	13.37%	8.49%	17.34%	19.43%	19.63%	26.72%	22.97%	22.00%	20.53%	18.68%	10.58%	0.81%	16.62%	17.55%	Infinity%	Infinity%	Infinity%
earnings per common share
basic	1,690,000	1,270,000	1,490,000	1,420,000	1,290,000	1,320,000	1,480,000	1,230,000	1,210,000	1,500,000	1,870,000	1,890,000	1,870,000	2,160,000	2,500,000	2,480,000	2,370,000	2,300,000	2,100,000	2,080,000	1,890,000	1,830,000	1,470,000	1,500,000	1,250,000	1,140,000	1,510,000	1,380,000	1,290,000	1,300,000	1,610,000	1,430,000	1,380,000	350,000	1,290,000	1,050,000	990,000	1,170,000	950,000	770,000	650,000	810,000	770,000	660,000	620,000	770,000	770,000	630,000	440,000	560,000	590,000	320,000	680,000	380,000	230,000	520,000	570,000	560,000	790,000	710,000	630,000	530,000	420,000	200,000	10,000
diluted	1,680,000	1,270,000	1,480,000	1,410,000	1,280,000	1,310,000	1,470,000	1,220,000	1,200,000	1,490,000	1,850,000	1,870,000	1,850,000	2,140,000	2,470,000	2,450,000	2,350,000	2,270,000	2,070,000	2,050,000	1,870,000	1,800,000	1,450,000	1,480,000	1,240,000	1,120,000	1,490,000	1,360,000	1,260,000	1,270,000	1,580,000	1,400,000	1,350,000	350,000	1,260,000	1,030,000	970,000	1,140,000	940,000	760,000	650,000	800,000	760,000	650,000	610,000	760,000	760,000	620,000	440,000	560,000	580,000	320,000	670,000	380,000	220,000	510,000	560,000	550,000	770,000	710,000	620,000	520,000	420,000	200,000	10,000
average shares outstanding:
basic	909,000,000		909,000,000	908,000,000	910,000,000		913,000,000	912,000,000	910,000,000		908,000,000	908,000,000	907,000,000	-3,000,000	913,000,000	920,000,000	923,000,000		923,000,000	923,000,000	922,000,000		917,000,000	916,000,000	931,000,000	-1,000,000	935,000,000	937,000,000	939,000,000	-6,000,000	969,000,000	977,000,000	983,000,000	-2,000,000	988,000,000	994,000,000	998,000,000	-1,000,000	1,003,000,000	1,004,000,000	1,007,000,000	-6,000,000	1,023,000,000	1,038,000,000	1,046,000,000	-5,000,000	1,060,000,000	1,071,000,000	1,081,000,000	1,096,000,000	1,103,000,000	1,107,000,000	1,130,000,000	1,140,000,000	1,143,000,000	1,144,000,000	1,156,000,000	1,167,000,000	-9,000,000	1,184,000,000	1,208,000,000	1,233,000,000	1,255,000,000	1,267,000,000		1,304,000,000	1,320,000,000	1,327,000,000	-15,000,000	1,417,000,000
diluted	914,000,000	-1,000,000	914,000,000	912,000,000	916,000,000		920,000,000	919,000,000	917,000,000		916,000,000	916,000,000	916,000,000	-3,000,000	923,000,000	930,000,000	934,000,000		936,000,000	937,000,000	935,000,000		929,000,000	927,000,000	943,000,000	-1,000,000	950,000,000	953,000,000	956,000,000	-7,000,000	989,000,000	997,000,000	1,005,000,000	-2,000,000	1,008,000,000	1,015,000,000	1,019,000,000	4,000,000	1,017,000,000	1,016,000,000	1,018,000,000	-6,000,000	1,035,000,000	1,051,000,000	1,061,000,000	-5,000,000	1,074,000,000	1,086,000,000	1,096,000,000	1,111,000,000	1,117,000,000	1,123,000,000	1,141,000,000	1,154,000,000	1,165,000,000	1,157,000,000	1,180,000,000	1,194,000,000	-8,000,000	1,196,000,000	1,221,000,000	1,246,000,000	1,268,000,000	1,272,000,000		1,318,000,000	1,341,000,000	1,347,000,000	-16,000,000	1,448,000,000
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:
income allocated to rsus	-9,000,000	-7,000,000	-8,000,000	-7,000,000	-6,000,000	-6,000,000	-7,000,000	-6,000,000	-5,000,000	-7,000,000	-10,000,000	-8,000,000	-9,000,000	-9,000,000	-11,000,000	-10,000,000	-9,000,000	-9,000,000	-9,000,000	-7,000,000	-8,000,000	-8,000,000	-6,000,000	-7,000,000	-6,000,000	-6,000,000	-8,000,000	-8,000,000	-8,000,000	-8,000,000	-11,000,000	-11,000,000	-11,000,000	-2,000,000	-11,000,000	-10,000,000	-10,000,000	-15,000,000	-11,000,000	-10,000,000	-9,000,000	-12,000,000	-11,000,000	-10,000,000	-9,000,000
income allocated to common stock for diluted eps	1,536,000,000	1,156,000,000	1,356,000,000	1,288,000,000	1,173,000,000	1,199,000,000	1,355,000,000	1,121,000,000	1,100,000,000	1,364,000,000	1,699,000,000	1,714,000,000	1,699,000,000	1,953,000,000	2,284,000,000	2,281,000,000	2,192,000,000	2,129,000,000	1,938,000,000	1,924,000,000	1,745,000,000	1,680,000,000	1,347,000,000	1,373,000,000	1,168,000,000	1,064,000,000	1,417,000,000	1,297,000,000	1,209,000,000	1,231,000,000	1,559,000,000	1,394,000,000	1,355,000,000	342,000,000	1,274,000,000	1,046,000,000	987,000,000	1,165,000,000	957,000,000	769,000,000	659,000,000	824,000,000	787,000,000	686,000,000	647,000,000
see accompanying notes.
restructuring charges/other		32,000,000	85,000,000						-124,000,000					48,000,000	77,000,000	66,000,000	66,000,000							24,000,000				-36,000,000		-2,000,000	1,000,000	3,000,000	1,000,000	3,000,000	1,000,000	3,000,000	4,000,000	-20,000,000	1,000,000	2,000,000	2,000,000	-68,000,000		-1,000,000	-2,000,000	-27,000,000	-9,000,000	-4,000,000	-11,000,000	16,000,000	-282,000,000	15,000,000	-122,000,000
average shares outstanding
basic	909,000,000		909,000,000	908,000,000	910,000,000		913,000,000	912,000,000	910,000,000		908,000,000	908,000,000	907,000,000	-3,000,000	913,000,000	920,000,000	923,000,000		923,000,000	923,000,000	922,000,000		917,000,000	916,000,000	931,000,000	-1,000,000	935,000,000	937,000,000	939,000,000	-6,000,000	969,000,000	977,000,000	983,000,000	-2,000,000	988,000,000	994,000,000	998,000,000	-1,000,000	1,003,000,000	1,004,000,000	1,007,000,000	-6,000,000	1,023,000,000	1,038,000,000	1,046,000,000	-5,000,000	1,060,000,000	1,071,000,000	1,081,000,000	1,096,000,000	1,103,000,000	1,107,000,000	1,130,000,000	1,140,000,000	1,143,000,000	1,144,000,000	1,156,000,000	1,167,000,000	-9,000,000	1,184,000,000	1,208,000,000	1,233,000,000	1,255,000,000	1,267,000,000		1,304,000,000	1,320,000,000	1,327,000,000	-15,000,000	1,417,000,000
diluted	914,000,000	-1,000,000	914,000,000	912,000,000	916,000,000		920,000,000	919,000,000	917,000,000		916,000,000	916,000,000	916,000,000	-3,000,000	923,000,000	930,000,000	934,000,000		936,000,000	937,000,000	935,000,000		929,000,000	927,000,000	943,000,000	-1,000,000	950,000,000	953,000,000	956,000,000	-7,000,000	989,000,000	997,000,000	1,005,000,000	-2,000,000	1,008,000,000	1,015,000,000	1,019,000,000	4,000,000	1,017,000,000	1,016,000,000	1,018,000,000	-6,000,000	1,035,000,000	1,051,000,000	1,061,000,000	-5,000,000	1,074,000,000	1,086,000,000	1,096,000,000	1,111,000,000	1,117,000,000	1,123,000,000	1,141,000,000	1,154,000,000	1,165,000,000	1,157,000,000	1,180,000,000	1,194,000,000	-8,000,000	1,196,000,000	1,221,000,000	1,246,000,000	1,268,000,000	1,272,000,000		1,318,000,000	1,341,000,000	1,347,000,000	-16,000,000	1,448,000,000
cash dividends declared per common share																														465,000	620,000	620,000	620,000	620,000	500,000	500,000	500,000	500,000	380,000	380,000	380,000	380,000	340,000	340,000	340,000
as a result of accounting rule asc 260, which requires a portion of net income to be allocated to unvested restricted stock units (rsus) on which we pay dividend equivalents, diluted eps is calculated using the following:
benefit from income taxes																																		1,206,000,000	504,000,000	430,000,000		317,000,000	413,000,000	323,000,000				293,000,000	284,000,000	262,000,000	329,000,000	278,000,000	184,000,000	187,000,000	222,000,000	12,000,000	59,000,000	130,000,000	97,000,000	179,000,000	237,000,000	252,000,000					227,000,000	96,000,000		193,000,000	262,000,000	178,000,000	289,000,000	308,000,000
earnings per common share:
basic	1,690,000	1,270,000	1,490,000	1,420,000	1,290,000	1,320,000	1,480,000	1,230,000	1,210,000	1,500,000	1,870,000	1,890,000	1,870,000	2,160,000	2,500,000	2,480,000	2,370,000	2,300,000	2,100,000	2,080,000	1,890,000	1,830,000	1,470,000	1,500,000	1,250,000	1,140,000	1,510,000	1,380,000	1,290,000	1,300,000	1,610,000	1,430,000	1,380,000	350,000	1,290,000	1,050,000	990,000	1,170,000	950,000	770,000	650,000	810,000	770,000	660,000	620,000	770,000	770,000	630,000	440,000	560,000	590,000	320,000	680,000	380,000	230,000	520,000	570,000	560,000	790,000	710,000	630,000	530,000	420,000	200,000	10,000
diluted	1,680,000	1,270,000	1,480,000	1,410,000	1,280,000	1,310,000	1,470,000	1,220,000	1,200,000	1,490,000	1,850,000	1,870,000	1,850,000	2,140,000	2,470,000	2,450,000	2,350,000	2,270,000	2,070,000	2,050,000	1,870,000	1,800,000	1,450,000	1,480,000	1,240,000	1,120,000	1,490,000	1,360,000	1,260,000	1,270,000	1,580,000	1,400,000	1,350,000	350,000	1,260,000	1,030,000	970,000	1,140,000	940,000	760,000	650,000	800,000	760,000	650,000	610,000	760,000	760,000	620,000	440,000	560,000	580,000	320,000	670,000	380,000	220,000	510,000	560,000	550,000	770,000	710,000	620,000	520,000	420,000	200,000	10,000
cash dividends declared per share of common stock																																														0.225	0.3	0.3	0.3	0.28	0.28	0.21	0.17	0.17	0.17	0.13	0.13	0.13	0.13	0.12	0.12	0.12	0.11	0.11	0.11	0.1	0.1	0.1	0.1	0.08
restructuring charges																																																						13,000,000	10,000,000
other income net																																																						-2,000,000	-14,000,000	-19,000,000	10,000,000	10,000,000	18,000,000	8,000,000	4,000,000	7,000,000	2,000,000	13,000,000	5,000,000	10,000,000	17,000,000	33,000,000	46,000,000	53,000,000
restructuring expense																																																											2,000,000	4,000,000	17,000,000	10,000,000	10,000,000	85,000,000	105,000,000
acquisition cost																																																								147,000,000	13,000,000	2,000,000
benefit for income taxes																																																																	-2,000,000
average common shares outstanding
basic																																																																	1,275,000,000
diluted																																																																	1,277,000,000
income from continuing operations before income taxes																																																																		756,000,000	850,000,000	840,000,000	1,042,000,000	1,066,000,000
income from continuing operations																																																																		563,000,000	588,000,000	662,000,000	753,000,000	758,000,000
income from discontinued operations, net of taxes
basic earnings per common share:
diluted earnings per common share:
net revenue																																																																				3,272,000,000	3,556,000,000	3,663,000,000
operating costs and expenses:
total																																																																				2,465,000,000	2,560,000,000	2,650,000,000
profit from operations																																																																				807,000,000	996,000,000	1,013,000,000
income from discontinued operations, net of income taxes																																																																					2,000,000	18,000,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30

assets
current assets:
cash and cash equivalents	3,549,000,000	3,225,000,000	3,311,000,000	3,044,000,000	2,763,000,000	3,200,000,000	2,589,000,000	2,740,000,000	2,483,000,000	2,964,000,000	2,566,000,000	3,439,000,000	4,477,000,000	3,050,000,000	3,169,000,000	3,802,000,000	3,505,000,000	4,631,000,000	5,663,000,000	3,649,000,000	2,442,000,000	3,107,000,000	2,822,000,000	4,294,000,000	2,518,000,000	2,437,000,000	3,893,000,000	3,813,000,000	3,720,000,000	2,438,000,000	1,502,000,000	2,919,000,000	1,717,000,000	1,656,000,000	1,296,000,000	1,140,000,000	1,073,000,000	1,154,000,000	1,369,000,000	1,235,000,000	1,281,000,000	1,000,000,000	1,133,000,000	1,184,000,000	1,242,000,000	1,199,000,000	1,306,000,000	1,216,000,000	1,565,000,000	1,435,000,000	1,180,000,000	1,393,000,000	1,210,000,000	1,192,000,000	1,193,000,000	1,581,000,000	4,501,000,000	1,343,000,000	1,319,000,000	1,093,000,000	1,138,000,000	1,217,000,000	1,294,000,000	1,765,000,000	1,436,000,000	1,715,000,000	1,317,000,000	1,450,000,000	1,328,000,000	807,000,000
short-term investments	1,554,000,000	1,656,000,000	1,875,000,000	2,315,000,000	2,242,000,000	4,380,000,000	6,163,000,000	6,948,000,000	7,910,000,000	5,611,000,000	6,382,000,000	6,113,000,000	5,068,000,000	6,017,000,000	5,921,000,000	4,585,000,000	6,320,000,000	5,108,000,000	4,119,000,000	3,741,000,000	4,244,000,000	3,461,000,000	2,696,000,000	666,000,000	2,224,000,000	2,950,000,000	1,174,000,000	405,000,000	366,000,000	1,795,000,000	3,611,000,000	2,211,000,000	2,362,000,000	2,813,000,000	2,148,000,000	1,844,000,000	1,976,000,000	2,336,000,000	1,768,000,000	1,304,000,000	1,519,000,000	2,218,000,000	1,602,000,000	2,122,000,000	2,062,000,000	2,342,000,000	1,880,000,000	1,588,000,000	2,467,000,000	2,158,000,000	2,064,000,000	2,469,000,000	2,451,000,000	1,141,000,000	1,572,000,000	1,037,000,000	1,899,000,000	1,514,000,000	1,753,000,000	1,417,000,000	1,167,000,000	1,574,000,000	1,533,000,000	792,000,000	990,000,000	278,000,000	331,000,000	426,000,000	1,596,000,000	2,862,000,000
accounts receivable	2,245,000,000	1,963,000,000	2,062,000,000	1,934,000,000	1,860,000,000	1,719,000,000	1,862,000,000	1,711,000,000	1,671,000,000	1,787,000,000	1,976,000,000	1,956,000,000	1,877,000,000	1,895,000,000	2,040,000,000	2,190,000,000	1,795,000,000	1,701,000,000	1,653,000,000	1,591,000,000	1,584,000,000	1,414,000,000	1,392,000,000	1,176,000,000	1,316,000,000	1,074,000,000	1,342,000,000	1,419,000,000	1,440,000,000	1,207,000,000	1,585,000,000	1,551,000,000	1,454,000,000	1,278,000,000	1,576,000,000	1,469,000,000	1,337,000,000	1,267,000,000	1,447,000,000	1,348,000,000	1,269,000,000	1,165,000,000	1,481,000,000	1,434,000,000	1,394,000,000	1,246,000,000	1,477,000,000	1,527,000,000	1,355,000,000	1,524,000,000	1,491,000,000	1,333,000,000	1,623,000,000	1,629,000,000	1,478,000,000	1,784,000,000	1,672,000,000	1,568,000,000	1,518,000,000	1,754,000,000	1,715,000,000	1,526,000,000	1,435,000,000	1,244,000,000	1,125,000,000	1,774,000,000	1,811,000,000	1,669,000,000	1,742,000,000	2,023,000,000
raw materials	463,000,000	465,000,000	431,000,000	402,000,000	393,000,000	395,000,000	393,000,000	405,000,000	417,000,000	420,000,000	401,000,000	388,000,000	378,000,000	353,000,000	333,000,000	305,000,000	265,000,000	245,000,000	224,000,000	201,000,000	183,000,000	180,000,000	192,000,000	182,000,000	175,000,000	176,000,000	175,000,000	176,000,000	191,000,000	181,000,000	171,000,000	155,000,000	144,000,000	126,000,000	120,000,000	109,000,000	102,000,000	102,000,000	104,000,000	104,000,000	105,000,000	109,000,000	108,000,000	112,000,000	107,000,000	101,000,000	97,000,000	93,000,000	95,000,000	107,000,000	101,000,000	99,000,000	124,000,000	123,000,000	114,000,000	148,000,000	148,000,000	132,000,000		114,000,000	98,000,000	95,000,000	89,000,000	81,000,000	77,000,000	103,000,000	111,000,000	111,000,000		102,000,000
work in process	2,355,000,000	2,372,000,000	2,460,000,000	2,429,000,000	2,370,000,000	2,214,000,000	2,081,000,000	2,072,000,000	2,129,000,000	2,109,000,000	2,147,000,000	2,110,000,000	1,850,000,000	1,546,000,000	1,347,000,000	1,258,000,000	1,151,000,000	1,067,000,000	1,034,000,000	996,000,000	980,000,000	964,000,000	959,000,000	977,000,000	915,000,000	916,000,000	955,000,000	958,000,000	1,016,000,000	1,070,000,000	1,058,000,000	1,079,000,000	1,076,000,000	1,089,000,000	1,103,000,000	1,099,000,000	1,017,000,000	954,000,000	949,000,000	946,000,000	888,000,000	846,000,000	913,000,000	940,000,000	906,000,000	896,000,000	905,000,000	894,000,000	898,000,000	954,000,000	926,000,000	930,000,000	988,000,000	1,040,000,000	996,000,000	1,185,000,000	970,000,000	934,000,000		875,000,000	812,000,000	812,000,000	767,000,000	699,000,000	712,000,000	982,000,000	997,000,000	943,000,000		934,000,000
finished goods	1,877,000,000	1,967,000,000	1,938,000,000	1,981,000,000	1,924,000,000	1,918,000,000	1,822,000,000	1,629,000,000	1,537,000,000	1,470,000,000	1,360,000,000	1,231,000,000	1,060,000,000	858,000,000	724,000,000	636,000,000	644,000,000	598,000,000	605,000,000	659,000,000	727,000,000	811,000,000	921,000,000	977,000,000	913,000,000	909,000,000	910,000,000	945,000,000	924,000,000	966,000,000	887,000,000	856,000,000	812,000,000	742,000,000	685,000,000	739,000,000	724,000,000	734,000,000	755,000,000	826,000,000	812,000,000	736,000,000	750,000,000	833,000,000	831,000,000	787,000,000	749,000,000	757,000,000	721,000,000	665,000,000	693,000,000	671,000,000	736,000,000	722,000,000	743,000,000	632,000,000	644,000,000	612,000,000		435,000,000	439,000,000	369,000,000	260,000,000	283,000,000	309,000,000	490,000,000	543,000,000	524,000,000		414,000,000
inventories	4,695,000,000	4,804,000,000	4,829,000,000	4,812,000,000	4,687,000,000	4,527,000,000	4,296,000,000	4,106,000,000	4,083,000,000	3,999,000,000	3,908,000,000	3,729,000,000	3,288,000,000	2,757,000,000	2,404,000,000	2,199,000,000	2,060,000,000	1,910,000,000	1,863,000,000	1,856,000,000	1,890,000,000	1,955,000,000	2,072,000,000	2,136,000,000	2,003,000,000	2,001,000,000	2,040,000,000	2,079,000,000	2,131,000,000	2,217,000,000	2,116,000,000	2,090,000,000	2,032,000,000	1,957,000,000	1,908,000,000	1,947,000,000	1,843,000,000	1,790,000,000	1,808,000,000	1,876,000,000	1,805,000,000	1,691,000,000	1,771,000,000	1,885,000,000	1,844,000,000	1,784,000,000	1,751,000,000	1,744,000,000	1,714,000,000	1,726,000,000	1,720,000,000	1,700,000,000	1,848,000,000	1,885,000,000	1,853,000,000	1,965,000,000	1,762,000,000	1,678,000,000	1,520,000,000	1,424,000,000	1,349,000,000	1,276,000,000	1,116,000,000	1,063,000,000	1,098,000,000	1,575,000,000	1,651,000,000	1,578,000,000	1,418,000,000	1,450,000,000
prepaid expenses and other current assets	1,753,000,000	2,102,000,000	1,799,000,000	2,379,000,000	1,534,000,000	1,200,000,000	962,000,000	1,284,000,000	1,301,000,000	761,000,000	265,000,000	277,000,000	313,000,000	302,000,000	238,000,000	267,000,000	330,000,000	335,000,000	287,000,000	340,000,000	245,000,000	302,000,000	277,000,000	216,000,000	249,000,000	299,000,000	264,000,000	240,000,000	294,000,000	440,000,000	654,000,000	821,000,000	1,025,000,000	1,030,000,000	1,063,000,000	1,111,000,000	811,000,000	910,000,000	789,000,000	926,000,000	785,000,000	1,000,000,000	945,000,000	1,088,000,000	810,000,000	850,000,000	964,000,000	992,000,000	876,000,000	219,000,000	513,000,000	259,000,000	409,000,000	351,000,000	303,000,000	303,000,000	233,000,000	170,000,000	180,000,000	179,000,000	195,000,000	174,000,000	168,000,000	208,000,000	207,000,000	191,000,000	259,000,000	193,000,000	180,000,000	209,000,000
total current assets	13,796,000,000	13,750,000,000	13,876,000,000	14,484,000,000	13,086,000,000	15,026,000,000	15,872,000,000	16,789,000,000	17,448,000,000	15,122,000,000	15,097,000,000	15,514,000,000	15,023,000,000	14,021,000,000	13,772,000,000	13,043,000,000	14,010,000,000	13,685,000,000	13,585,000,000	11,177,000,000	10,405,000,000	10,239,000,000	9,259,000,000	8,488,000,000	8,310,000,000	8,761,000,000	8,713,000,000	7,956,000,000	7,951,000,000	8,097,000,000	9,468,000,000	9,592,000,000	8,590,000,000	8,734,000,000	7,991,000,000	7,511,000,000	7,040,000,000	7,457,000,000	7,181,000,000	6,689,000,000	6,659,000,000	7,074,000,000	7,289,000,000	8,060,000,000	7,692,000,000	7,768,000,000	7,756,000,000	7,456,000,000	8,360,000,000	8,101,000,000	8,038,000,000	8,205,000,000	8,584,000,000	7,353,000,000	7,591,000,000	7,716,000,000	10,860,000,000	7,044,000,000	7,060,000,000	6,468,000,000	6,130,000,000	6,323,000,000	6,138,000,000	5,740,000,000	5,532,000,000	6,212,000,000	6,010,000,000	5,975,000,000	6,918,000,000	8,053,000,000
property, plant and equipment at cost	17,870,000,000	17,682,000,000	17,314,000,000	16,878,000,000	16,036,000,000	15,254,000,000	15,464,000,000	14,622,000,000	13,739,000,000	13,268,000,000	12,528,000,000	11,664,000,000	10,791,000,000	9,950,000,000	9,491,000,000	8,825,000,000	8,236,000,000	7,858,000,000	6,661,000,000	6,235,000,000	5,967,000,000	5,781,000,000	5,698,000,000	5,741,000,000	5,736,000,000	5,740,000,000	5,683,000,000	5,706,000,000	5,642,000,000	5,425,000,000	5,250,000,000	5,025,000,000	4,907,000,000	4,789,000,000	4,668,000,000	4,656,000,000	4,833,000,000	4,923,000,000	4,982,000,000	5,152,000,000	5,290,000,000	5,465,000,000	5,742,000,000	6,097,000,000	6,177,000,000	6,266,000,000	6,393,000,000	6,452,000,000	6,426,000,000	6,539,000,000	6,679,000,000	6,773,000,000	6,806,000,000	6,840,000,000	6,840,000,000	7,239,000,000	6,573,000,000	6,712,000,000	6,907,000,000	6,897,000,000	6,831,000,000	6,763,000,000	6,599,000,000	6,739,000,000	7,030,000,000	7,499,000,000	7,603,000,000	7,493,000,000	7,568,000,000	7,597,000,000
accumulated depreciation	-5,725,000,000	-5,362,000,000	-4,966,000,000	-4,557,000,000	-4,225,000,000	-3,907,000,000	-3,662,000,000	-3,448,000,000	-3,297,000,000	-3,269,000,000	-3,208,000,000	-3,139,000,000	-3,126,000,000	-3,074,000,000	-3,006,000,000	-2,894,000,000	-2,797,000,000	-2,717,000,000	-2,640,000,000	-2,557,000,000	-2,536,000,000	-2,512,000,000	-2,508,000,000	-2,540,000,000	-2,503,000,000	-2,437,000,000	-2,365,000,000	-2,341,000,000	-2,324,000,000	-2,242,000,000	-2,199,000,000	-2,170,000,000	-2,171,000,000	-2,125,000,000	-2,101,000,000	-2,142,000,000	-2,332,000,000	-2,411,000,000	-2,437,000,000	-2,595,000,000	-2,736,000,000	-2,869,000,000	-3,113,000,000	-3,412,000,000	-3,419,000,000	-3,426,000,000	-3,463,000,000	-3,408,000,000	-3,247,000,000
property, plant and equipment	12,145,000,000	12,320,000,000	12,348,000,000	12,321,000,000	11,811,000,000	11,347,000,000	11,802,000,000	11,174,000,000	10,442,000,000	9,999,000,000	9,320,000,000	8,525,000,000	7,665,000,000	6,876,000,000	6,485,000,000	5,931,000,000	5,439,000,000	5,141,000,000	4,021,000,000	3,678,000,000	3,431,000,000	3,269,000,000	3,190,000,000	3,201,000,000	3,233,000,000	3,303,000,000	3,318,000,000	3,365,000,000	3,318,000,000	3,183,000,000	3,051,000,000	2,855,000,000	2,736,000,000	2,664,000,000	2,567,000,000	2,514,000,000	2,501,000,000	2,512,000,000	2,545,000,000	2,557,000,000	2,554,000,000	2,596,000,000	2,629,000,000	2,685,000,000	2,758,000,000	2,840,000,000	2,930,000,000	3,044,000,000	3,179,000,000	3,509,000,000	3,611,000,000	3,739,000,000	4,055,000,000	4,174,000,000	4,278,000,000	4,572,000,000	3,714,000,000	3,657,000,000	3,680,000,000	3,456,000,000	3,240,000,000	3,162,000,000	2,945,000,000	2,940,000,000	3,115,000,000	3,517,000,000	3,604,000,000	3,585,000,000	3,609,000,000	3,681,000,000
goodwill	4,330,000,000	4,330,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,362,000,000	4,452,000,000	4,452,000,000	4,452,000,000	4,451,000,000	924,000,000	924,000,000	924,000,000	926,000,000	926,000,000	926,000,000	926,000,000	926,000,000	912,000,000	840,000,000	840,000,000	838,000,000	838,000,000	796,000,000
deferred tax assets	973,000,000	967,000,000	1,089,000,000	1,096,000,000	1,030,000,000	936,000,000	941,000,000	905,000,000	821,000,000	757,000,000	632,000,000	537,000,000	486,000,000	473,000,000	291,000,000	293,000,000	273,000,000	263,000,000	309,000,000	326,000,000	331,000,000	343,000,000	299,000,000	236,000,000	208,000,000	197,000,000	257,000,000	261,000,000	290,000,000	295,000,000	243,000,000	205,000,000	218,000,000	264,000,000
capitalized software licenses	323,000,000	238,000,000	237,000,000	248,000,000	263,000,000	257,000,000	229,000,000	230,000,000	231,000,000	223,000,000	138,000,000	143,000,000	140,000,000	152,000,000	75,000,000	82,000,000	91,000,000	85,000,000	88,000,000	99,000,000	113,000,000	122,000,000	133,000,000	141,000,000	138,000,000	69,000,000	77,000,000	88,000,000	98,000,000	89,000,000	94,000,000	101,000,000	102,000,000	110,000,000	111,000,000	114,000,000	116,000,000	52,000,000	50,000,000	52,000,000	53,000,000	46,000,000	54,000,000	63,000,000	73,000,000	83,000,000	93,000,000	101,000,000	111,000,000	139,000,000	159,000,000	169,000,000	166,000,000	182,000,000	201,000,000	199,000,000	184,000,000	193,000,000	205,000,000	213,000,000	229,000,000	219,000,000	124,000,000	140,000,000	160,000,000	202,000,000	220,000,000	225,000,000	227,000,000	242,000,000
overfunded retirement plans	321,000,000	324,000,000	251,000,000	253,000,000	240,000,000	233,000,000	184,000,000	167,000,000	169,000,000	173,000,000	166,000,000	183,000,000	189,000,000	188,000,000	273,000,000	296,000,000	383,000,000	392,000,000	252,000,000	254,000,000	235,000,000	246,000,000	227,000,000	223,000,000	215,000,000	218,000,000	106,000,000	104,000,000	96,000,000	92,000,000	220,000,000	205,000,000	215,000,000	208,000,000	112,000,000	99,000,000	102,000,000	96,000,000	64,000,000	85,000,000	84,000,000	85,000,000	76,000,000	127,000,000	128,000,000	127,000,000	135,000,000	126,000,000	129,000,000	119,000,000	106,000,000	62,000,000	29,000,000	32,000,000	37,000,000	28,000,000	25,000,000	28,000,000	31,000,000	23,000,000	22,000,000	54,000,000	20,000,000	20,000,000	17,000,000	137,000,000	128,000,000	122,000,000	105,000,000	77,000,000
other long-term assets	2,505,000,000	2,656,000,000	2,841,000,000	2,169,000,000	2,965,000,000	3,348,000,000	1,931,000,000	1,421,000,000	1,412,000,000	1,712,000,000	1,923,000,000	1,675,000,000	1,355,000,000	1,135,000,000	799,000,000	716,000,000	718,000,000	748,000,000	647,000,000	650,000,000	657,000,000	569,000,000	501,000,000	518,000,000	493,000,000	468,000,000	471,000,000	479,000,000	498,000,000	140,000,000	150,000,000	149,000,000	147,000,000	86,000,000
total assets	34,393,000,000	34,585,000,000	35,004,000,000	34,933,000,000	33,757,000,000	35,509,000,000	35,321,000,000	35,048,000,000	34,885,000,000	32,348,000,000	31,638,000,000	30,939,000,000	29,220,000,000	27,207,000,000	26,057,000,000	24,723,000,000	25,276,000,000	24,676,000,000	23,273,000,000	20,603,000,000	19,639,000,000	19,351,000,000	18,207,000,000	17,445,000,000	17,283,000,000	18,018,000,000	17,992,000,000	17,384,000,000	17,443,000,000	17,137,000,000	18,573,000,000	18,527,000,000	17,507,000,000	17,642,000,000	16,929,000,000	16,438,000,000	15,978,000,000	16,431,000,000	16,216,000,000	15,693,000,000	15,686,000,000	16,230,000,000	16,540,000,000	17,532,000,000	17,346,000,000	17,722,000,000	17,900,000,000	17,810,000,000	18,935,000,000	19,244,000,000	19,398,000,000	19,701,000,000	20,514,000,000	19,521,000,000	20,009,000,000	20,907,000,000	17,098,000,000	13,310,000,000	13,401,000,000	12,649,000,000	12,164,000,000	12,370,000,000	11,903,000,000	11,510,000,000	11,520,000,000	12,466,000,000	12,382,000,000	12,338,000,000	12,667,000,000	13,724,000,000
liabilities and stockholders’ equity
current liabilities:
current portion of long-term debt	1,149,000,000	500,000,000	500,000,000			750,000,000	1,049,000,000	1,049,000,000	1,349,000,000	599,000,000	300,000,000	299,000,000	500,000,000	500,000,000	499,000,000	499,000,000	500,000,000	500,000,000	500,000,000	499,000,000		550,000,000	550,000,000	551,000,000	1,051,000,000	500,000,000	499,000,000	1,249,000,000	750,000,000	749,000,000	749,000,000		500,000,000	500,000,000	499,000,000	499,000,000	378,000,000	631,000,000	634,000,000	637,000,000	1,249,000,000	1,000,000,000	1,000,000,000	1,750,000,000	1,000,000,000	1,001,000,000	1,002,000,000	254,000,000	1,000,000,000	1,000,000,000	1,000,000,000	1,500,000,000	1,500,000,000	1,500,000,000	378,000,000
accounts payable	638,000,000	756,000,000	779,000,000	881,000,000	866,000,000	820,000,000	794,000,000	858,000,000	551,000,000	802,000,000	713,000,000	923,000,000	952,000,000	851,000,000	780,000,000	712,000,000	641,000,000	653,000,000	596,000,000	587,000,000	567,000,000	415,000,000	411,000,000	409,000,000	363,000,000	388,000,000	397,000,000	412,000,000	477,000,000	478,000,000	492,000,000	492,000,000	488,000,000	466,000,000	430,000,000	450,000,000	429,000,000	396,000,000	428,000,000	416,000,000	387,000,000	386,000,000	367,000,000	417,000,000	432,000,000	437,000,000	393,000,000	402,000,000	405,000,000	426,000,000	437,000,000	440,000,000	501,000,000	555,000,000	589,000,000	627,000,000	623,000,000	605,000,000	621,000,000	623,000,000	542,000,000	556,000,000	467,000,000	421,000,000	326,000,000	601,000,000	677,000,000	680,000,000	657,000,000	644,000,000
accrued compensation	389,000,000	829,000,000	724,000,000	595,000,000	418,000,000	839,000,000	721,000,000	569,000,000	399,000,000	836,000,000	707,000,000	561,000,000	394,000,000	799,000,000	662,000,000	520,000,000	386,000,000	775,000,000	665,000,000	531,000,000	388,000,000	767,000,000	656,000,000	505,000,000	353,000,000	714,000,000	609,000,000	476,000,000	342,000,000	724,000,000	613,000,000	472,000,000	344,000,000	722,000,000	635,000,000	489,000,000	352,000,000	710,000,000	647,000,000	493,000,000	340,000,000	664,000,000	615,000,000	481,000,000	349,000,000	651,000,000	613,000,000	484,000,000	364,000,000	567,000,000	463,000,000	365,000,000	552,000,000	454,000,000	382,000,000	532,000,000	428,000,000	348,000,000	629,000,000
income taxes payable	138,000,000	67,000,000	79,000,000	53,000,000	284,000,000	159,000,000	108,000,000	178,000,000	378,000,000	172,000,000	108,000,000	121,000,000	372,000,000	189,000,000	123,000,000	115,000,000	405,000,000	121,000,000	101,000,000	107,000,000	278,000,000	134,000,000	44,000,000	179,000,000	62,000,000	46,000,000	58,000,000	87,000,000	113,000,000	103,000,000	104,000,000	120,000,000	133,000,000	128,000,000	74,000,000	86,000,000	77,000,000	83,000,000	68,000,000	58,000,000	67,000,000	95,000,000	84,000,000	117,000,000	75,000,000	71,000,000	106,000,000	109,000,000	101,000,000	37,000,000	218,000,000	109,000,000	106,000,000	101,000,000	106,000,000	60,000,000	65,000,000	247,000,000	109,000,000	31,000,000	18,000,000	317,000,000	148,000,000	56,000,000	21,000,000	35,000,000	26,000,000	218,000,000	53,000,000	152,000,000
accrued expenses and other liabilities	782,000,000	1,007,000,000	1,036,000,000	963,000,000	921,000,000	1,075,000,000	1,014,000,000	983,000,000	876,000,000	911,000,000	824,000,000	807,000,000	686,000,000	646,000,000	734,000,000	714,000,000	596,000,000	520,000,000	551,000,000	477,000,000	467,000,000	524,000,000	524,000,000	519,000,000	552,000,000	475,000,000	444,000,000	422,000,000	477,000,000	420,000,000	424,000,000	382,000,000	395,000,000	442,000,000	417,000,000	353,000,000	366,000,000	444,000,000	393,000,000	387,000,000	377,000,000	410,000,000	431,000,000	425,000,000	426,000,000	498,000,000	527,000,000	552,000,000	600,000,000	691,000,000	682,000,000	694,000,000	766,000,000	711,000,000	754,000,000	863,000,000	637,000,000	593,000,000	622,000,000	965,000,000	823,000,000	756,000,000	959,000,000	931,000,000	907,000,000	976,000,000	955,000,000	871,000,000	1,117,000,000	1,092,000,000
total current liabilities	3,096,000,000	3,159,000,000	3,118,000,000	2,492,000,000	2,489,000,000	3,643,000,000	3,686,000,000	3,637,000,000	3,553,000,000	3,320,000,000	2,652,000,000	2,711,000,000	2,904,000,000	2,985,000,000	2,798,000,000	2,560,000,000	2,528,000,000	2,569,000,000	2,413,000,000	2,201,000,000	1,700,000,000	2,390,000,000	2,185,000,000	2,163,000,000	2,381,000,000	2,123,000,000	2,007,000,000	2,646,000,000	2,159,000,000	2,474,000,000	2,382,000,000	1,466,000,000	1,860,000,000	2,258,000,000	2,055,000,000	1,877,000,000	1,602,000,000	2,264,000,000	2,170,000,000	1,991,000,000	2,420,000,000	2,555,000,000	2,500,000,000	3,193,000,000	2,286,000,000	2,662,000,000	2,643,000,000	1,803,000,000	2,471,000,000	2,723,000,000	2,802,000,000	3,110,000,000	3,425,000,000	3,821,000,000	2,909,000,000	3,668,000,000	1,753,000,000	1,793,000,000	1,981,000,000	1,838,000,000	1,538,000,000	1,719,000,000	1,662,000,000	1,468,000,000	1,287,000,000	1,738,000,000	1,760,000,000	1,848,000,000	2,025,000,000	2,031,000,000
long-term debt	12,901,000,000	13,548,000,000	13,546,000,000	14,043,000,000	12,848,000,000	12,846,000,000	12,844,000,000	12,842,000,000	12,840,000,000	10,624,000,000	10,922,000,000	10,920,000,000	9,626,000,000	8,235,000,000	7,438,000,000	6,745,000,000	7,242,000,000	7,241,000,000	7,239,000,000	5,752,000,000	6,250,000,000	6,248,000,000	6,247,000,000	6,245,000,000	5,499,000,000	5,303,000,000	5,302,000,000	4,558,000,000	5,057,000,000	4,319,000,000	4,318,000,000	5,066,000,000	3,578,000,000	3,577,000,000	3,084,000,000	3,084,000,000	2,980,000,000	2,978,000,000	2,977,000,000	2,975,000,000	2,869,000,000	3,120,000,000	3,132,000,000	3,134,000,000	3,638,000,000	3,641,000,000	3,643,000,000	4,394,000,000	4,652,000,000	4,161,000,000	4,165,000,000	4,183,000,000	4,190,000,000	2,703,000,000	4,207,000,000	4,215,000,000	3,498,000,000
underfunded retirement plans	121,000,000	124,000,000	125,000,000	122,000,000	115,000,000	110,000,000	117,000,000	113,000,000	111,000,000	108,000,000	141,000,000	127,000,000	123,000,000	118,000,000	69,000,000	71,000,000	81,000,000	79,000,000	129,000,000	131,000,000	130,000,000	131,000,000	103,000,000	99,000,000	95,000,000	93,000,000	123,000,000	121,000,000	120,000,000	118,000,000	86,000,000	82,000,000	92,000,000	89,000,000	108,000,000	101,000,000	97,000,000	129,000,000	201,000,000	193,000,000	195,000,000	196,000,000	247,000,000	254,000,000	253,000,000	225,000,000	222,000,000	224,000,000	218,000,000	253,000,000	240,000,000	258,000,000	350,000,000	700,000,000	684,000,000	617,000,000	532,000,000	527,000,000	519,000,000	447,000,000	470,000,000	425,000,000	464,000,000	502,000,000	608,000,000	186,000,000	187,000,000	191,000,000	184,000,000	95,000,000
deferred tax liabilities	63,000,000	66,000,000	60,000,000	63,000,000	56,000,000	53,000,000	54,000,000	55,000,000	55,000,000	63,000,000	66,000,000	69,000,000	73,000,000	66,000,000	92,000,000	90,000,000	94,000,000	87,000,000	86,000,000	87,000,000	88,000,000	90,000,000	69,000,000	60,000,000	64,000,000	78,000,000	49,000,000	49,000,000	43,000,000	42,000,000	43,000,000	50,000,000	53,000,000	78,000,000
other long-term liabilities	1,434,000,000	1,415,000,000	1,528,000,000	1,810,000,000	1,843,000,000	1,954,000,000	1,352,000,000	1,187,000,000	1,343,000,000	1,336,000,000	1,226,000,000	1,172,000,000	1,251,000,000	1,226,000,000	1,153,000,000	1,165,000,000	1,314,000,000	1,367,000,000	1,255,000,000	1,279,000,000	1,305,000,000	1,305,000,000	1,278,000,000	1,234,000,000	1,510,000,000	1,514,000,000	1,526,000,000	1,524,000,000	1,545,000,000	1,190,000,000	1,228,000,000	1,229,000,000	1,282,000,000	1,303,000,000
total liabilities	17,615,000,000	18,312,000,000	18,377,000,000	18,530,000,000	17,351,000,000	18,606,000,000	18,053,000,000	17,834,000,000	17,902,000,000	15,451,000,000	15,007,000,000	14,999,000,000	13,977,000,000	12,630,000,000	11,550,000,000	10,631,000,000	11,259,000,000	11,343,000,000	11,122,000,000	9,450,000,000	9,473,000,000	10,164,000,000	9,882,000,000	9,801,000,000	9,549,000,000	9,111,000,000	9,007,000,000	8,898,000,000	8,924,000,000	8,143,000,000	8,057,000,000	7,893,000,000	6,865,000,000	7,305,000,000	5,941,000,000	5,730,000,000	5,339,000,000	5,958,000,000	5,930,000,000	5,731,000,000	5,904,000,000	6,284,000,000	6,570,000,000	7,327,000,000	6,977,000,000	7,332,000,000	7,429,000,000	7,344,000,000	8,315,000,000	8,193,000,000	8,330,000,000	8,749,000,000	9,111,000,000	8,363,000,000	8,938,000,000	9,881,000,000	6,195,000,000	2,736,000,000	2,964,000,000	2,687,000,000	2,409,000,000	2,565,000,000	2,465,000,000	2,297,000,000	2,310,000,000	2,372,000,000	2,398,000,000	2,481,000,000	2,692,000,000	2,587,000,000
stockholders’ equity:
preferred stock, 25 par value. shares authorized – 10; none issued
common stock	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000																												1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000		1,740,000,000		1,740,000,000								1,740,000,000	1,740,000,000
paid-in capital	4,722,000,000	4,511,000,000	4,410,000,000	4,245,000,000	4,058,000,000	3,935,000,000	3,813,000,000	3,666,000,000	3,439,000,000	3,362,000,000	3,280,000,000	3,163,000,000	3,016,000,000	2,951,000,000	2,877,000,000	2,783,000,000	2,667,000,000	2,630,000,000	2,563,000,000	2,485,000,000	2,391,000,000	2,333,000,000	2,257,000,000	2,182,000,000	2,096,000,000	2,110,000,000	2,058,000,000	2,003,000,000	1,927,000,000	1,950,000,000	1,918,000,000	1,867,000,000	1,770,000,000	1,776,000,000	1,718,000,000	1,683,000,000	1,597,000,000	1,674,000,000	1,757,000,000	1,681,000,000	1,558,000,000	1,629,000,000	1,562,000,000	1,504,000,000	1,410,000,000	1,368,000,000	1,314,000,000	1,273,000,000	1,181,000,000	1,125,000,000	1,117,000,000	1,049,000,000	1,193,000,000	1,164,000,000	1,112,000,000	1,172,000,000	1,108,000,000		1,114,000,000		1,127,000,000								931,000,000	853,000,000
retained earnings	52,483,000,000	52,236,000,000	52,369,000,000	52,249,000,000	52,196,000,000	52,262,000,000	52,304,000,000	52,135,000,000	52,199,000,000	52,283,000,000	52,098,000,000	51,522,000,000	50,930,000,000	50,353,000,000	49,519,000,000	48,280,000,000	47,053,000,000	45,919,000,000	44,847,000,000	43,846,000,000	42,860,000,000	42,051,000,000	41,305,000,000	40,780,000,000	40,227,000,000	39,898,000,000	39,674,000,000	38,974,000,000	38,396,000,000	37,906,000,000	37,378,000,000	36,413,000,000	35,619,000,000	34,662,000,000	34,935,000,000	34,149,000,000	33,595,000,000	33,107,000,000	32,432,000,000	31,850,000,000	31,457,000,000	31,176,000,000	30,731,000,000	30,286,000,000	29,948,000,000	29,653,000,000	29,189,000,000	28,686,000,000	28,331,000,000	27,993,000,000	27,677,000,000	27,330,000,000	27,179,000,000	26,592,000,000	26,345,000,000	26,175,000,000	25,726,000,000		24,695,000,000		23,194,000,000								19,788,000,000	19,172,000,000
treasury common stock at cost
shares: march 31, 2026 – 831; december 31, 2025 – 834	-42,084,000,000
accumulated other comprehensive income, net of taxes	-84,000,000	-85,000,000	-149,000,000	-156,000,000	-147,000,000	-140,000,000	-195,000,000	-200,000,000	-203,000,000	-205,000,000	-235,000,000	-246,000,000	-252,000,000	-254,000,000	-154,000,000	-180,000,000	-153,000,000	-157,000,000	-313,000,000	-323,000,000	-347,000,000	-360,000,000	-335,000,000	-334,000,000	-328,000,000	-347,000,000	-443,000,000	-457,000,000	-465,000,000	-473,000,000	-354,000,000	-371,000,000	-392,000,000	-384,000,000	-505,000,000	-520,000,000	-527,000,000	-526,000,000	-542,000,000	-536,000,000	-531,000,000	-532,000,000	-513,000,000	-514,000,000	-531,000,000	-532,000,000	-468,000,000	-512,000,000	-520,000,000	-572,000,000	-590,000,000	-650,000,000	-617,000,000	-741,000,000	-742,000,000	-690,000,000	-686,000,000		-701,000,000		-654,000,000
total stockholders’ equity	16,778,000,000	16,273,000,000	16,627,000,000	16,403,000,000	16,406,000,000	16,903,000,000	17,268,000,000	17,214,000,000	16,983,000,000	16,897,000,000	16,631,000,000	15,940,000,000	15,243,000,000	14,577,000,000	14,507,000,000	14,092,000,000	14,017,000,000	13,333,000,000	12,151,000,000	11,153,000,000	10,166,000,000	9,187,000,000	8,325,000,000	7,644,000,000	7,734,000,000	8,907,000,000	8,985,000,000	8,486,000,000	8,519,000,000	8,994,000,000	10,516,000,000	10,634,000,000	10,642,000,000	10,337,000,000	10,988,000,000	10,708,000,000	10,639,000,000	10,473,000,000	10,286,000,000	9,962,000,000	9,782,000,000	9,946,000,000	9,970,000,000	10,205,000,000	10,369,000,000	10,390,000,000	10,471,000,000	10,466,000,000	10,620,000,000	11,051,000,000	11,068,000,000	10,952,000,000	11,403,000,000	11,158,000,000	11,071,000,000	11,026,000,000	10,903,000,000		10,437,000,000		9,755,000,000								9,975,000,000	11,137,000,000
total liabilities and stockholders’ equity	34,393,000,000	34,585,000,000	35,004,000,000	34,933,000,000	33,757,000,000	35,509,000,000	35,321,000,000	35,048,000,000	34,885,000,000	32,348,000,000	31,638,000,000	30,939,000,000	29,220,000,000	27,207,000,000	26,057,000,000	24,723,000,000	25,276,000,000	24,676,000,000	23,273,000,000	20,603,000,000	19,639,000,000	19,351,000,000	18,207,000,000	17,445,000,000	17,283,000,000	18,018,000,000	17,992,000,000	17,384,000,000	17,443,000,000	17,137,000,000	18,573,000,000	18,527,000,000	17,507,000,000	17,642,000,000	16,929,000,000	16,438,000,000	15,978,000,000	16,431,000,000	16,216,000,000	15,693,000,000	15,686,000,000	16,230,000,000	16,540,000,000	17,532,000,000	17,346,000,000	17,722,000,000	17,900,000,000	17,810,000,000	18,935,000,000	19,244,000,000	19,398,000,000	19,701,000,000	20,514,000,000	19,521,000,000	20,009,000,000	20,907,000,000	17,098,000,000		13,401,000,000		12,164,000,000								12,667,000,000	13,724,000,000
see accompanying notes.
shares: 2025 – 834; 2024 – 830		-42,130,000,000
shares: september 30, 2025 – 832; december 31, 2024 – 830			-41,744,000,000
shares: june 30, 2025 – 832; december 31, 2024 – 830				-41,676,000,000
shares: march 31, 2025 – 832; december 31, 2024 – 830					-41,442,000,000
shares: 2024 – 830; 2023 – 832						-40,895,000,000
shares: september 30, 2024 – 829; december 31, 2023 – 832							-40,395,000,000
shares: june 30, 2024 – 828; december 31, 2023 – 832								-40,128,000,000
shares: march 31, 2024 – 831; december 31, 2023 – 832									-40,193,000,000
shares: 2023 – 832; 2022 – 835										-40,284,000,000
shares: september 30, 2023 – 833; december 31, 2022 – 835											-40,253,000,000
shares: june 30, 2023 – 833; december 31, 2022 – 835												-40,240,000,000
shares: march 31, 2023 – 833; december 31, 2022 – 835													-40,192,000,000
shares: 2022 – 835; 2021 – 817														-40,214,000,000
shares: september 30, 2022 – 831; december 31, 2021 – 817															-39,476,000,000
shares: june 30, 2022 – 826; december 31, 2021 – 817																-38,532,000,000
shares: march 31, 2022 – 819; december 31, 2021 – 817																	-37,291,000,000
shares: 2021 – 817; 2020 – 821																		-36,800,000,000
acquisition-related intangibles																			9,000,000	57,000,000	105,000,000	152,000,000	189,000,000	240,000,000	290,000,000	340,000,000	390,000,000	469,000,000	549,000,000	628,000,000	707,000,000	787,000,000	866,000,000	946,000,000	1,025,000,000	1,105,000,000	1,184,000,000	1,264,000,000	1,344,000,000	1,424,000,000	1,503,000,000	1,583,000,000	1,662,000,000	1,742,000,000	1,822,000,000	1,902,000,000	1,982,000,000	2,062,000,000	2,142,000,000	2,305,000,000	2,388,000,000	2,473,000,000	2,643,000,000	2,729,000,000	2,815,000,000	3,024,000,000	63,000,000	69,000,000	76,000,000	86,000,000	97,000,000	111,000,000	138,000,000	150,000,000	120,000,000	99,000,000	108,000,000	105,000,000	115,000,000	108,000,000
preferred stock, 25 par value. authorized – 10,000,000 shares; none issued
shares issued – 1,740,815,939																			1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000	1,741,000,000
shares: september 30, 2021 – 817,400,928; december 31, 2020 – 821,461,787																			-36,687,000,000
shares: june 30, 2021 – 817,729,258; december 31, 2020 – 821,461,787																				-36,596,000,000
shares: march 31, 2021 – 817,573,099; december 31, 2020 – 821,461,787																					-36,479,000,000
long-term investments																						49,000,000	47,000,000	36,000,000	34,000,000	300,000,000	298,000,000	300,000,000	281,000,000	251,000,000	278,000,000	271,000,000	271,000,000	268,000,000	258,000,000	250,000,000	241,000,000	235,000,000	233,000,000	224,000,000	220,000,000	221,000,000	216,000,000	228,000,000	232,000,000	224,000,000	219,000,000	219,000,000	212,000,000	210,000,000	203,000,000	204,000,000	225,000,000	218,000,000	239,000,000	350,000,000	334,000,000	449,000,000	453,000,000	523,000,000	557,000,000	641,000,000	627,000,000	632,000,000	645,000,000	717,000,000	766,000,000	791,000,000	267,000,000
preferred stock, 25 par value. authorized – 10,000,000 shares
participating cumulative preferred – none issued
shares: 2020 – 821,461,787; 2019 – 808,784,381																						-36,578,000,000
shares: september 30, 2020 – 823,174,578; december 31, 2019 – 808,784,381																							-36,643,000,000
shares: june 30, 2020 – 825,225,307; december 31, 2019 – 808,784,381																								-36,725,000,000
shares: march 31, 2020 – 819,335,097; december 31, 2019 – 808,784,381																									-36,002,000,000
shares: 2019 – 808,784,381; 2018 – 795,665,646																										-34,495,000,000
shares: september 30, 2019 – 805,637,804; december 31, 2018 – 795,665,646																											-34,045,000,000
shares: june 30, 2019 – 806,251,136; december 31, 2018 – 795,665,646																												-33,775,000,000
shares: march 31, 2019 – 802,016,668; december 31, 2018 – 795,665,646																													-33,080,000,000
shares: 2018 – 795,665,646; 2017 – 757,657,217																														-32,130,000,000
participating cumulative preferred. none issued.
shares: september 30, 2018 – 775,952,837; december 31, 2017 – 757,657,217																															-30,167,000,000
shares: june 30, 2018 – 766,450,417; december 31, 2017 – 757,657,217																																-29,016,000,000
shares: march 31, 2018 – 759,098,020; december 31, 2017 – 757,657,217																																	-28,096,000,000
shares: 2017 – 757,657,217; 2016 – 744,831,978																																		-27,458,000,000
deferred income taxes																																			414,000,000	412,000,000	361,000,000	374,000,000	355,000,000	231,000,000	175,000,000	201,000,000	357,000,000	347,000,000	340,000,000	347,000,000	378,000,000	389,000,000	383,000,000	1,039,000,000	1,070,000,000	1,051,000,000	1,043,000,000	1,155,000,000	1,192,000,000	1,046,000,000	793,000,000	771,000,000	770,000,000	601,000,000	566,000,000	556,000,000	592,000,000	668,000,000	676,000,000	679,000,000	641,000,000	659,000,000	654,000,000	702,000,000
other assets																																			89,000,000	71,000,000	71,000,000	79,000,000	82,000,000	69,000,000	76,000,000	62,000,000	92,000,000	96,000,000	105,000,000	244,000,000	246,000,000	246,000,000	240,000,000	272,000,000	278,000,000	223,000,000	161,000,000	93,000,000	94,000,000	70,000,000	69,000,000	47,000,000	45,000,000	47,000,000	48,000,000	41,000,000	57,000,000	53,000,000	52,000,000	54,000,000	80,000,000	79,000,000	78,000,000	77,000,000
deferred credits and other liabilities																																			656,000,000	635,000,000	624,000,000	554,000,000	547,000,000	532,000,000	382,000,000	376,000,000	383,000,000	391,000,000	397,000,000	405,000,000	471,000,000	439,000,000	438,000,000	492,000,000	539,000,000	600,000,000	550,000,000	543,000,000	516,000,000	559,000,000	320,000,000	334,000,000	378,000,000	320,000,000	331,000,000	353,000,000	279,000,000	273,000,000	354,000,000	396,000,000	394,000,000	382,000,000	434,000,000	434,000,000
shares: september 30, 2017 – 754,459,144; december 31, 2016 – 744,831,978																																			-26,901,000,000
shares: june 30, 2017 – 749,098,850; december 31, 2016 – 744,831,978																																				-26,345,000,000
shares: march 31, 2017 – 743,085,976; december 31, 2016 – 744,831,978																																					-25,767,000,000
shares: 2016 – 744,831,978; 2015 – 729,547,527																																						-25,523,000,000
shares: september 30, 2016 – 739,693,480; december 31, 2015 – 729,547,527																																							-25,102,000,000
shares: june 30, 2016 – 737,467,669; december 31, 2015 – 729,547,527																																								-24,774,000,000
shares: march 31, 2016 – 734,244,179; december 31, 2015 – 729,547,527																																									-24,443,000,000
shares: 2015 – 729,547,527; 2014 – 694,189,127																																										-24,068,000,000
shares: september 30, 2015 – 721,186,352; december 31, 2014 – 694,189,127																																											-23,551,000,000
preferred stock, 25 par value. authorized – 10,000,000 shares.
treasury common stock at cost.
shares: june 30, 2015 – 706,714,155; december 31, 2014 – 694,189,127																																												-22,812,000,000
shares: march 31, 2015 – 696,401,920; december 31, 2014 – 694,189,127																																													-22,199,000,000
preferred stock, 25 par value. authorized – 10,000,000 shares. participating cumulative preferred. none issued.
treasury common stock at cost. shares: 2014 – 694,189,127; 2013 – 658,012,970																																														-21,840,000,000
treasury common stock at cost. shares: september 30, 2014 – 684,515,992; december 31, 2013 – 658,012,970																																															-21,305,000,000
treasury common stock at cost. shares: june 30, 2014 – 673,260,360; december 31, 2013 – 658,012,970																																																-20,722,000,000
treasury common stock at cost. shares: march 31, 2014 – 661,464,745; december 31, 2013 – 658,012,970																																																	-20,113,000,000
less accumulated depreciation																																																		-3,030,000,000	-3,068,000,000	-3,034,000,000	-2,751,000,000	-2,666,000,000	-2,562,000,000	-2,667,000,000	-2,859,000,000	-3,055,000,000	-3,227,000,000	-3,441,000,000	-3,591,000,000	-3,601,000,000	-3,654,000,000	-3,799,000,000	-3,915,000,000	-3,982,000,000	-3,999,000,000	-3,908,000,000	-3,959,000,000	-3,916,000,000
less treasury common stock at cost. shares: september 30, 2013 – 646,252,825; december 31, 2012 – 632,636,970																																																		-19,236,000,000
less treasury common stock at cost. shares: june 30, 2013 – 639,643,135; december 31, 2012 – 632,636,970																																																			-18,877,000,000
less treasury common stock at cost. shares: march 31, 2013 – 631,661,551; december 31, 2012 – 632,636,970																																																				-18,518,000,000
commercial paper borrowings																																																						500,000,000	700,000,000
less treasury common stock at cost. shares: september 30, 2012 – 620,012,959; december 31, 2011 – 601,131,631																																																					-18,093,000,000
less treasury common stock at cost. shares: june 30, 2012 – 603,058,077; december 31, 2011 – 601,131,631																																																						-17,598,000,000
less treasury common stock at cost. shares: march 31, 2012 – 596,461,198; december 31, 2011 – 601,131,631																																																							-17,385,000,000
short-term and current portion of long-term debt																																																								1,586,000,000
less treasury common stock at cost. shares: september 30, 2011 – 597,902,577; december 31, 2010 – 572,722,397																																																								-17,372,000,000
less treasury common stock at cost. shares: june 30, 2011 – 585,209,754; december 31, 2010 – 572,722,397																																																									-16,986,000,000
[millions of dollars, except share amounts]
less treasury common stock at cost.
shares: 2010 – 572,722,397; 2009 – 499,693,704																																																											-16,411,000,000
accrued profit sharing and retirement																																																												219,000,000	155,000,000	90,000,000	88,000,000	60,000,000	33,000,000	126,000,000	102,000,000	79,000,000	198,000,000	143,000,000
shares: june 30, 2010 -- 544,693,240; december 31, 2009 -- 499,693,704																																																													-15,652,000,000
preferred stock, 25 par value. authorized – 10,000,000 shares. participating cumulative preferred. none issued
shares: 2007 – 396,421,798; 2006 – 289,078,450																																																																					-12,160,000,000
accumulated other comprehensive loss																																																																					-324,000,000
assets of discontinued operations
equity and other long-term investments																																																																						265,000,000
loans payable and current portion of long-term debt
less treasury common stock at cost: shares: 2007 – 341,373,012; 2006 – 289,078,450																																																																						-10,344,000,000
accumulated other comprehensive income, net of tax																																																																						-284,000,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31

cash flows from operating activities	1,520,000,000	2,254,000,000	2,190,000,000	1,860,000,000	849,000,000	1,998,000,000	1,732,000,000	1,571,000,000	1,017,000,000	1,924,000,000	1,937,000,000	1,399,000,000	1,160,000,000	2,042,000,000	2,766,000,000	1,768,000,000	2,144,000,000	2,357,000,000	2,428,000,000	2,121,000,000	1,850,000,000	2,125,000,000	1,443,000,000	1,720,000,000	851,000,000	1,754,000,000	1,992,000,000	1,796,000,000	1,107,000,000	2,145,000,000	2,106,000,000	1,826,000,000	1,112,000,000	1,929,000,000	1,722,000,000	917,000,000	795,000,000	1,585,000,000	1,413,000,000	1,069,000,000	547,000,000	1,430,000,000	1,409,000,000	820,000,000	609,000,000	1,272,000,000	1,383,000,000	775,000,000	462,000,000	1,150,000,000	675,000,000	360,000,000	1,202,000,000	675,000,000	449,000,000
net income	1,545,000,000	1,163,000,000	1,364,000,000	1,295,000,000	1,179,000,000	1,205,000,000	1,362,000,000	1,127,000,000	1,105,000,000	1,371,000,000	1,709,000,000	1,722,000,000	1,708,000,000	1,962,000,000	2,295,000,000	2,291,000,000	2,201,000,000	2,138,000,000	1,947,000,000	1,931,000,000	1,753,000,000	1,688,000,000	1,353,000,000	1,380,000,000	1,174,000,000	1,070,000,000	1,425,000,000	1,305,000,000	1,217,000,000	1,239,000,000	1,570,000,000	1,405,000,000	1,366,000,000	344,000,000	1,285,000,000	1,056,000,000	997,000,000	1,180,000,000	968,000,000	779,000,000	668,000,000	836,000,000	798,000,000	696,000,000	656,000,000	825,000,000	826,000,000	683,000,000	487,000,000	629,000,000	660,000,000	362,000,000	784,000,000	446,000,000	265,000,000	600,000,000	672,000,000	666,000,000	942,000,000	859,000,000	769,000,000	658,000,000	538,000,000	260,000,000	17,000,000	562,000,000	589,000,000	662,000,000	755,000,000
adjustments to net income:
depreciation	541,000,000	537,000,000	497,000,000	460,000,000	424,000,000	416,000,000	383,000,000	363,000,000	346,000,000	322,000,000	303,000,000	285,000,000	265,000,000	249,000,000	249,000,000	227,000,000	200,000,000	200,000,000	192,000,000	184,000,000	179,000,000	180,000,000	183,000,000	184,000,000	186,000,000	186,000,000	183,000,000	173,000,000	166,000,000	158,000,000	151,000,000	144,000,000	137,000,000		133,000,000	134,000,000	139,000,000		150,000,000	155,000,000	161,000,000		193,000,000	198,000,000	203,000,000		213,000,000	213,000,000	213,000,000	217,000,000	221,000,000	228,000,000	241,000,000	241,000,000	243,000,000	213,000,000	220,000,000	224,000,000	226,000,000	213,000,000	215,000,000	211,000,000	217,000,000	221,000,000	230,000,000	251,000,000	246,000,000	241,000,000	252,000,000
amortization of capitalized software	21,000,000	20,000,000	20,000,000	21,000,000	20,000,000	19,000,000	19,000,000	18,000,000	16,000,000	15,000,000	17,000,000	15,000,000	16,000,000	14,000,000	13,000,000	13,000,000	14,000,000	13,000,000	14,000,000	15,000,000	15,000,000	16,000,000	16,000,000	15,000,000	14,000,000	14,000,000	13,000,000	14,000,000	13,000,000	12,000,000	12,000,000	10,000,000	12,000,000		12,000,000	12,000,000	11,000,000		7,000,000	8,000,000	8,000,000		12,000,000	13,000,000	13,000,000		15,000,000	14,000,000	16,000,000
stock compensation	109,000,000	81,000,000	93,000,000	129,000,000	116,000,000	78,000,000	87,000,000	116,000,000	106,000,000	68,000,000	79,000,000	111,000,000	104,000,000	62,000,000	68,000,000	85,000,000	74,000,000	50,000,000	50,000,000	69,000,000	61,000,000	42,000,000	50,000,000	69,000,000	63,000,000	41,000,000	48,000,000	67,000,000	61,000,000	42,000,000	46,000,000	74,000,000	70,000,000		54,000,000	75,000,000	68,000,000
gains on sales of assets	-5,000,000					-1,000,000	0	3,000,000	-129,000,000		0			0	0	-1,000,000	-2,000,000	-50,000,000	-3,000,000	-3,000,000	-1,000,000	-1,000,000	-2,000,000			0	0	-21,000,000	-2,000,000														0	-2,000,000	-1,000,000		-5,000,000	-2,000,000	-37,000,000	-3,000,000
deferred taxes	-4,000,000	115,000,000	3,000,000	-50,000,000	-87,000,000	-21,000,000	-33,000,000	-85,000,000	-71,000,000	-140,000,000	-99,000,000	-52,000,000	-8,000,000	-173,000,000	-3,000,000	-14,000,000	-1,000,000	-4,000,000	12,000,000	-1,000,000	8,000,000	-22,000,000	-51,000,000	-30,000,000	-34,000,000	50,000,000	-4,000,000	31,000,000	4,000,000	-23,000,000	-52,000,000	1,000,000	-31,000,000
increase from changes in:
accounts receivable	-282,000,000	99,000,000	-128,000,000	-74,000,000	-141,000,000	143,000,000	-151,000,000	-40,000,000	116,000,000	189,000,000	-20,000,000	-79,000,000	18,000,000	145,000,000	150,000,000	-395,000,000	-94,000,000	-48,000,000	-62,000,000	-7,000,000	-170,000,000	-22,000,000	-216,000,000	140,000,000	-242,000,000	268,000,000	77,000,000	21,000,000	-233,000,000	378,000,000	-34,000,000	-97,000,000	-176,000,000		-106,000,000	-132,000,000	-68,000,000		-98,000,000	-76,000,000	-100,000,000		-47,000,000	-40,000,000	-154,000,000		42,000,000	-165,000,000	-149,000,000	-30,000,000	-160,000,000	-112,000,000	18,000,000	-151,000,000	63,000,000	22,000,000	-102,000,000	-44,000,000	237,000,000	-29,000,000	-188,000,000	-251,000,000	-186,000,000	-116,000,000	-218,000,000	36,000,000	-149,000,000	89,000,000	284,000,000
inventories	109,000,000	25,000,000	-17,000,000	-125,000,000	-160,000,000	-231,000,000	-190,000,000	-23,000,000	-84,000,000	-91,000,000	-179,000,000	-441,000,000	-531,000,000	-353,000,000	-205,000,000	-139,000,000	-150,000,000	-47,000,000	-13,000,000	40,000,000	65,000,000	117,000,000	64,000,000	-133,000,000	-2,000,000	39,000,000	39,000,000	52,000,000	86,000,000	-101,000,000	-26,000,000	-58,000,000	-97,000,000		39,000,000	-104,000,000	-53,000,000		68,000,000	-71,000,000	-114,000,000		114,000,000	-41,000,000	-60,000,000		-7,000,000	-30,000,000	17,000,000	-6,000,000	-20,000,000	57,000,000	37,000,000	-32,000,000	-91,000,000	22,000,000	-84,000,000	-158,000,000	-91,000,000	-66,000,000	-73,000,000	-74,000,000	-53,000,000	37,000,000	279,000,000	76,000,000	-73,000,000	-160,000,000	32,000,000
prepaid expenses and other current assets	-9,000,000	8,000,000	18,000,000	-9,000,000	-7,000,000	76,000,000	-23,000,000	-22,000,000	-24,000,000	8,000,000	28,000,000	14,000,000	-4,000,000	-39,000,000	25,000,000	-1,000,000	21,000,000	-42,000,000	76,000,000	-50,000,000	73,000,000			63,000,000	-88,000,000	-20,000,000	44,000,000	18,000,000	223,000,000	101,000,000	151,000,000	61,000,000	356,000,000		31,000,000	83,000,000	-71,000,000		95,000,000	-8,000,000	43,000,000		40,000,000	-5,000,000	54,000,000		96,000,000	14,000,000	-29,000,000	229,000,000	-304,000,000	21,000,000	25,000,000	50,000,000	5,000,000	1,000,000	-3,000,000	-9,000,000	3,000,000	-15,000,000	14,000,000	-10,000,000	31,000,000	-15,000,000	8,000,000	50,000,000	-29,000,000	-46,000,000	26,000,000
accounts payable and accrued expenses	-125,000,000	20,000,000	86,000,000	92,000,000	-121,000,000	87,000,000	13,000,000	102,000,000	-77,000,000	-10,000,000	27,000,000	74,000,000	-124,000,000	34,000,000	42,000,000	19,000,000	11,000,000	-54,000,000	35,000,000	-17,000,000	69,000,000	3,000,000	-13,000,000			-29,000,000	29,000,000	-26,000,000	-67,000,000	-13,000,000	51,000,000	6,000,000	-51,000,000		47,000,000	12,000,000	-78,000,000		9,000,000	39,000,000	-104,000,000		-48,000,000	-34,000,000	-108,000,000		-48,000,000	-59,000,000	-117,000,000	-17,000,000	-36,000,000	-244,000,000	-9,000,000	-77,000,000	-37,000,000	95,000,000	58,000,000	-83,000,000	-116,000,000	201,000,000	38,000,000	-66,000,000	54,000,000	101,000,000	-119,000,000	-24,000,000	32,000,000	-179,000,000	-20,000,000
accrued compensation	-447,000,000	106,000,000	121,000,000	172,000,000	-427,000,000	115,000,000	149,000,000	168,000,000	-444,000,000	126,000,000	145,000,000	165,000,000	-407,000,000	136,000,000	140,000,000	134,000,000	-388,000,000	110,000,000	135,000,000	141,000,000	-379,000,000	111,000,000	157,000,000	148,000,000	-353,000,000	100,000,000	129,000,000	129,000,000	-373,000,000	105,000,000	137,000,000	123,000,000	-372,000,000		140,000,000	131,000,000	-356,000,000		149,000,000	147,000,000	-322,000,000		132,000,000	125,000,000	-294,000,000		127,000,000	113,000,000	-189,000,000	96,000,000	95,000,000	-154,000,000	95,000,000	75,000,000	-211,000,000	59,000,000	80,000,000	-281,000,000
income taxes payable	130,000,000	23,000,000	107,000,000	-71,000,000	132,000,000	110,000,000	155,000,000	120,000,000	212,000,000	58,000,000	-7,000,000	-243,000,000	185,000,000	68,000,000	21,000,000	-279,000,000	284,000,000	34,000,000	-10,000,000	-175,000,000	131,000,000	135,000,000	-208,000,000	-255,000,000	147,000,000	7,000,000	-93,000,000	-13,000,000	-94,000,000	147,000,000	22,000,000	120,000,000	-131,000,000		10,000,000	-385,000,000	149,000,000		47,000,000	-25,000,000	131,000,000		99,000,000	-225,000,000	147,000,000		-42,000,000	-128,000,000	80,000,000	-173,000,000	115,000,000	29,000,000	-141,000,000	-103,000,000	67,000,000	14,000,000	-240,000,000	137,000,000	161,000,000	23,000,000	-338,000,000	203,000,000	94,000,000	-52,000,000	49,000,000	41,000,000	-181,000,000	165,000,000	-57,000,000
changes in funded status of retirement plans	4,000,000	7,000,000	13,000,000	-18,000,000	-9,000,000	31,000,000	-24,000,000	9,000,000	17,000,000	-4,000,000	26,000,000	17,000,000	6,000,000	-12,000,000	56,000,000	49,000,000	21,000,000	14,000,000	13,000,000	7,000,000	28,000,000	-25,000,000	-1,000,000	-10,000,000	27,000,000	3,000,000	17,000,000	2,000,000	7,000,000	10,000,000	12,000,000	29,000,000	-15,000,000		31,000,000	19,000,000	-14,000,000		24,000,000	14,000,000	18,000,000		24,000,000	22,000,000	19,000,000		32,000,000	19,000,000	22,000,000	30,000,000	23,000,000	29,000,000
other	-67,000,000	48,000,000	13,000,000	38,000,000	-70,000,000	-29,000,000	-15,000,000	-285,000,000	-72,000,000	11,000,000	-92,000,000	-188,000,000	-68,000,000	-51,000,000	-85,000,000	-221,000,000	-47,000,000	43,000,000	-5,000,000	-61,000,000	-29,000,000	-65,000,000	35,000,000	27,000,000	-91,000,000	-25,000,000	6,000,000	-36,000,000	20,000,000	14,000,000	-14,000,000	-71,000,000	-36,000,000	1,622,000,000	-32,000,000	-9,000,000	-18,000,000	1,835,000,000	-17,000,000	11,000,000	-18,000,000	1,897,000,000	-4,000,000	6,000,000	-25,000,000	2,190,000,000	19,000,000	3,000,000	-11,000,000	-6,000,000	-25,000,000	-28,000,000	25,000,000	56,000,000	-6,000,000	5,000,000	17,000,000	-31,000,000	-44,000,000	38,000,000	5,000,000	13,000,000	-18,000,000	30,000,000	39,000,000			12,000,000	95,000,000
cash flows from investing activities	-47,000,000	-676,000,000	-681,000,000	-1,335,000,000	1,253,000,000	614,000,000	-487,000,000	0	-3,329,000,000	-311,000,000	-1,694,000,000	-2,385,000,000	28,000,000	-1,027,000,000	-2,113,000,000	1,225,000,000	-1,668,000,000	-2,229,000,000	-884,000,000	127,000,000	-1,109,000,000	-996,000,000	-2,189,000,000	1,437,000,000	826,000,000	-1,921,000,000	-914,000,000	-258,000,000	1,173,000,000	1,505,000,000	-1,768,000,000	-81,000,000	266,000,000		-488,000,000	-8,000,000	267,000,000		-603,000,000	65,000,000	573,000,000		389,000,000	-174,000,000	158,000,000		-383,000,000	802,000,000	-305,000,000	-211,000,000	309,000,000	22,000,000	-1,441,000,000	321,000,000	270,000,000
capital expenditures	-676,000,000	-925,000,000	-1,197,000,000	-1,305,000,000	-1,123,000,000	-1,192,000,000	-1,316,000,000	-1,064,000,000	-1,248,000,000	-1,148,000,000	-1,495,000,000	-1,446,000,000	-982,000,000	-967,000,000	-790,000,000	-597,000,000	-443,000,000	-1,282,000,000	-486,000,000	-386,000,000	-308,000,000	-212,000,000	-146,000,000	-130,000,000	-161,000,000	-163,000,000	-149,000,000	-284,000,000	-251,000,000	-323,000,000	-370,000,000	-249,000,000	-189,000,000	1,159,000,000	-186,000,000	-151,000,000	-127,000,000	952,000,000	-139,000,000	-158,000,000	-124,000,000	938,000,000	-139,000,000	-125,000,000	-123,000,000	645,000,000	-103,000,000	-80,000,000	-77,000,000	-123,000,000	-98,000,000	-84,000,000	-150,000,000	-146,000,000	-103,000,000
free cash flows	844,000,000	1,329,000,000	993,000,000	555,000,000	-274,000,000	806,000,000	416,000,000	507,000,000	-231,000,000	776,000,000	442,000,000	-47,000,000	178,000,000	1,075,000,000	1,976,000,000	1,171,000,000	1,701,000,000	1,075,000,000	1,942,000,000	1,735,000,000	1,542,000,000	1,913,000,000	1,297,000,000	1,590,000,000	690,000,000	1,591,000,000	1,843,000,000	1,512,000,000	856,000,000	1,822,000,000	1,736,000,000	1,577,000,000	923,000,000	3,088,000,000	1,536,000,000	766,000,000	668,000,000	2,537,000,000	1,274,000,000	911,000,000	423,000,000	2,368,000,000	1,270,000,000	695,000,000	486,000,000	1,917,000,000	1,280,000,000	695,000,000	385,000,000	1,027,000,000	577,000,000	276,000,000	1,052,000,000	529,000,000	346,000,000
proceeds from u.s. chips and science act (chips act) incentives	555,000,000	0	75,000,000	0	260,000,000
proceeds from asset sales	5,000,000	0				1,000,000	0	2,000,000	192,000,000	0	1,000,000	1,000,000	1,000,000	0	0	1,000,000	2,000,000	68,000,000	3,000,000	3,000,000	1,000,000	1,000,000	2,000,000			0	0	28,000,000	2,000,000						0	0	40,000,000						0	9,000,000	1,000,000		6,000,000	3,000,000	37,000,000	3,000,000	0	18,000,000
purchases of short-term investments	-935,000,000	-880,000,000	-805,000,000	-1,192,000,000	-647,000,000	-909,000,000	-1,845,000,000	-2,098,000,000	-4,864,000,000	-2,565,000,000	-3,080,000,000	-4,047,000,000	-3,013,000,000	-3,688,000,000	-4,346,000,000	-2,461,000,000	-3,988,000,000	-3,697,000,000	-1,693,000,000	-1,952,000,000	-2,782,000,000	-2,351,000,000	-2,540,000,000	-249,000,000	-646,000,000	-2,070,000,000	-986,000,000	-239,000,000	-149,000,000	-333,000,000	-3,099,000,000	-1,213,000,000	-996,000,000		-1,218,000,000	-1,130,000,000	-757,000,000		-978,000,000	-993,000,000	-200,000,000		-459,000,000	-919,000,000	-335,000,000		-704,000,000	-415,000,000	-1,051,000,000	-775,000,000	-1,866,000,000	-536,000,000	-1,484,000,000	-415,000,000	-242,000,000	-775,000,000	-816,000,000	-872,000,000	-699,000,000	-599,000,000	-613,000,000	-599,000,000	-879,000,000	-343,000,000	-220,000,000	0	0	-362,000,000
proceeds from short-term investments	1,043,000,000	1,110,000,000	1,260,000,000	1,131,000,000	2,807,000,000	2,726,000,000	2,700,000,000	3,130,000,000	2,631,000,000	3,411,000,000	2,885,000,000	3,065,000,000	4,026,000,000	3,650,000,000	3,033,000,000	4,200,000,000	2,774,000,000	2,708,000,000	1,315,000,000	2,455,000,000	2,000,000,000	1,587,000,000	510,000,000	1,810,000,000	1,638,000,000	305,000,000	220,000,000	200,000,000	1,584,000,000	2,163,000,000	1,715,000,000	1,375,000,000	1,455,000,000		920,000,000	1,265,000,000	1,120,000,000		515,000,000	1,210,000,000	900,000,000		980,000,000	860,000,000	615,000,000		412,000,000	1,294,000,000	785,000,000	681,000,000	2,268,000,000	615,000,000	173,000,000	853,000,000	613,000,000
cash flows from financing activities	-1,149,000,000	-1,664,000,000	-1,242,000,000	-244,000,000	-2,539,000,000	-2,001,000,000	-1,396,000,000	-1,314,000,000	1,831,000,000	-1,215,000,000	-1,116,000,000	-52,000,000	239,000,000	-1,134,000,000	-1,286,000,000	-2,696,000,000	-1,602,000,000	-1,160,000,000	470,000,000	-1,041,000,000	-1,406,000,000	-844,000,000	-726,000,000	-1,381,000,000	-1,596,000,000	-1,289,000,000	-998,000,000	-1,445,000,000	-998,000,000	-2,714,000,000	-1,755,000,000	-543,000,000	-1,317,000,000		-1,078,000,000	-842,000,000	-1,143,000,000		-676,000,000	-1,180,000,000	-839,000,000		-1,849,000,000	-704,000,000	-724,000,000		-910,000,000	-1,926,000,000	-219,000,000	-684,000,000	-1,197,000,000	-405,000,000	257,000,000	-997,000,000	-518,000,000
repayment of debt		0	0	0	-750,000,000	-300,000,000	0			0	0			0	0			0	0	0	-550,000,000	0	0			0				0	0				0	-375,000,000	-250,000,000		0				-750,000,000				0
dividends paid	-1,291,000,000	-1,290,000,000	-1,236,000,000	-1,235,000,000	-1,238,000,000	-1,240,000,000	-1,187,000,000	-1,185,000,000	-1,183,000,000	-1,181,000,000	-1,126,000,000	-1,125,000,000	-1,125,000,000	-1,123,000,000	-1,051,000,000	-1,060,000,000	-1,063,000,000	-1,062,000,000	-942,000,000	-942,000,000	-940,000,000	-937,000,000	-825,000,000	-823,000,000	-841,000,000	-841,000,000	-721,000,000	-722,000,000	-724,000,000	-736,000,000	-602,000,000	-606,000,000	-611,000,000	3,597,000,000	-495,000,000	-498,000,000	-500,000,000	2,793,000,000	-382,000,000	-382,000,000	-383,000,000	2,502,000,000	-348,000,000	-354,000,000	-356,000,000	2,290,000,000	-319,000,000	-323,000,000	-325,000,000	-308,000,000	-309,000,000	-232,000,000	-194,000,000	-195,000,000	-195,000,000	-148,000,000	-150,000,000	-153,000,000	-153,000,000	-143,000,000	-147,000,000	-149,000,000	-138,000,000	-139,000,000	-141,000,000	-131,000,000	-132,000,000	-133,000,000	-138,000,000
stock repurchases	-158,000,000	-403,000,000	-119,000,000	-302,000,000	-653,000,000	-537,000,000	-318,000,000	-71,000,000	-3,000,000	-65,000,000	-46,000,000	-79,000,000	-103,000,000	-848,000,000	-996,000,000	-1,182,000,000	-589,000,000	-142,000,000	-139,000,000	-146,000,000	-100,000,000	-15,000,000	-15,000,000	-882,000,000	-1,641,000,000	-489,000,000	-456,000,000	-863,000,000	-1,152,000,000	-2,009,000,000	-1,200,000,000	-1,018,000,000	-873,000,000	4,406,000,000	-650,000,000	-650,000,000	-550,000,000	3,789,000,000	-500,000,000	-527,000,000	-630,000,000	4,855,000,000	-790,000,000	-654,000,000	-670,000,000	4,964,000,000	-670,000,000	-743,000,000	-720,000,000	-734,000,000	-721,000,000	-679,000,000	-600,000,000	-300,000,000	-300,000,000	-450,000,000	-452,000,000	-771,000,000	-600,000,000	-600,000,000	-750,000,000	-504,000,000	-251,000,000	-250,000,000	-101,000,000	-429,000,000	-433,000,000	-874,000,000	-1,878,000,000
proceeds from common stock transactions	309,000,000	42,000,000	125,000,000	115,000,000	118,000,000	87,000,000	117,000,000	248,000,000	65,000,000	45,000,000	68,000,000	65,000,000	85,000,000	50,000,000	78,000,000	56,000,000	57,000,000	52,000,000	75,000,000	54,000,000	196,000,000	114,000,000	123,000,000	87,000,000	146,000,000	48,000,000	194,000,000	146,000,000	151,000,000	38,000,000	55,000,000	102,000,000	178,000,000		76,000,000	84,000,000	161,000,000		159,000,000	194,000,000	131,000,000		35,000,000	51,000,000	246,000,000		68,000,000	125,000,000	283,000,000	349,000,000	343,000,000	454,000,000	63,000,000	68,000,000	259,000,000
net change in cash and cash equivalents	324,000,000	-86,000,000	267,000,000	281,000,000	-437,000,000	611,000,000	-151,000,000	257,000,000	-481,000,000	398,000,000	-873,000,000	-1,038,000,000	1,427,000,000	-119,000,000	-633,000,000	297,000,000	-1,126,000,000	-1,032,000,000	2,014,000,000	1,207,000,000	-665,000,000	285,000,000	-1,472,000,000	1,776,000,000	81,000,000	-1,456,000,000	80,000,000	93,000,000	1,282,000,000	936,000,000	-1,417,000,000	1,202,000,000	61,000,000		156,000,000	67,000,000	-81,000,000		134,000,000	-46,000,000	281,000,000		-51,000,000	-58,000,000	43,000,000		90,000,000	-349,000,000	-62,000,000	255,000,000	-213,000,000	-23,000,000	18,000,000	-1,000,000	201,000,000
cash and cash equivalents at beginning of period	3,225,000,000	0	0	0	3,200,000,000	0	0	0	2,964,000,000	0	0	0	3,050,000,000	0	0	0	4,631,000,000	0	0	0	3,107,000,000	0	0	0	2,437,000,000	0	0	0	2,438,000,000	0	0	0	1,656,000,000		0	0	1,154,000,000		0	0	1,000,000,000		0	0	1,199,000,000		0	0	1,627,000,000
cash and cash equivalents at end of period	3,549,000,000	-86,000,000	267,000,000	281,000,000	2,763,000,000	611,000,000	-151,000,000	257,000,000	2,483,000,000	398,000,000	-873,000,000	-1,038,000,000	4,477,000,000	-119,000,000	-633,000,000	297,000,000	3,505,000,000	-1,032,000,000	2,014,000,000	1,207,000,000	2,442,000,000	285,000,000	-1,472,000,000	1,776,000,000	2,518,000,000	-1,456,000,000	80,000,000	93,000,000	3,720,000,000	936,000,000	-1,417,000,000	1,202,000,000	1,717,000,000		156,000,000	67,000,000	1,073,000,000		134,000,000	-46,000,000	1,281,000,000		-51,000,000	-58,000,000	1,242,000,000		90,000,000	-349,000,000	1,565,000,000
supplemental cash flow information
investment tax credit (itc) used to reduce income taxes payable		89,000,000	43,000,000			56,000,000	220,000,000
proceeds from chips act incentives	555,000,000	0	75,000,000	0	260,000,000
total cash benefit related to the chips act	555,000,000	89,000,000	118,000,000	203,000,000	260,000,000
see accompanying notes.
losses on sales of assets
proceeds from issuance of long-term debt		0	0			0	0	0	2,980,000,000	0	0	1,603,000,000	1,397,000,000	799,000,000				0				0	0	749,000,000	749,000,000	0	748,000,000	0	743,000,000	0	0				0				0				0				0	0	498,000,000
total cash benefit related to the u.s. chips and science act						56,000,000	220,000,000
amortization of acquisition-related intangibles																		0	47,000,000	48,000,000	47,000,000	47,000,000	51,000,000	50,000,000	50,000,000	50,000,000	79,000,000	80,000,000	79,000,000	79,000,000	80,000,000	79,000,000	80,000,000		80,000,000	79,000,000	80,000,000		80,000,000	79,000,000	80,000,000		80,000,000	80,000,000	80,000,000		80,000,000	80,000,000	81,000,000	83,000,000	85,000,000	85,000,000	86,000,000	85,000,000	86,000,000	13,000,000	6,000,000	7,000,000	12,000,000	11,000,000	12,000,000	13,000,000	12,000,000	12,000,000	10,000,000	9,000,000	9,000,000	10,000,000	10,000,000
cash flow data:
free cash flow
income statement data:
revenue by segment:
analog
embedded processing
revenue
gross profit
operating expenses
acquisition charges
restructuring charges/other
operating profit
as a result of accounting rule asc 260, which requires a portion of net income to be allocated to unvested restricted stock units (rsus) on which we pay dividend equivalents, diluted earnings per share (eps) is calculated using the following:
income allocated to rsus
income allocated to common shares for diluted eps
average diluted shares outstanding, in millions
diluted eps
cash dividends declared per common share
free cash flow is a non-gaap measure derived by subtracting capital expenditures from cash flows from operating activities.
deferred income taxes																																			-2,000,000	-54,000,000	9,000,000		-125,000,000	-59,000,000	24,000,000		-50,000,000	-57,000,000	1,000,000		-27,000,000			30,000,000	-54,000,000	15,000,000	119,000,000	21,000,000	-4,000,000	6,000,000	-46,000,000	31,000,000	-143,000,000	-27,000,000	-7,000,000	-11,000,000	71,000,000	6,000,000	3,000,000	-78,000,000	-7,000,000	-74,000,000	4,000,000
stock-based compensation																																							56,000,000	76,000,000	72,000,000		66,000,000	84,000,000	78,000,000		62,000,000	77,000,000	78,000,000	71,000,000	75,000,000	75,000,000	66,000,000	64,000,000	69,000,000	93,000,000	53,000,000	57,000,000	47,000,000	47,000,000	49,000,000	47,000,000	46,000,000	47,000,000	50,000,000	54,000,000	54,000,000	54,000,000	68,000,000
excess tax benefit from share-based payments																																							47,000,000	39,000,000	43,000,000		4,000,000	8,000,000	56,000,000		11,000,000	15,000,000	49,000,000	9,000,000	11,000,000	52,000,000	3,000,000	5,000,000	18,000,000	1,000,000	8,000,000	19,000,000								1,000,000	29,000,000	-13,000,000
diluted earnings per common share
(a) free cash flow is a non-gaap measure derived by subtracting capital expenditures from cash flows from operating activities.
balance sheet data:
cash, cash equivalents and short-term investments
total assets
current portion of long-term debt and commercial paper borrowings
long-term debt
other data – number of:
employees
stockholders of record
item 7.
cash flow data
income statement data
cash flows from operating activities:
cash flows from investing activities:
cash flows from financing activities:
gain on transfer of japan substitutional pension
purchases of long-term investments																																																		0			0	0	-1,000,000	-1,000,000	-2,000,000	-1,000,000	-2,000,000	-4,000,000	0	-2,000,000	0	-3,000,000	-2,000,000	-3,000,000	-3,000,000	-2,000,000
proceeds from long-term investments																																																		3,000,000	6,000,000	9,000,000	20,000,000	29,000,000	3,000,000
proceeds from issuance of debt
repayment of debt and commercial paper borrowings																																																		0			-500,000,000
cash and cash equivalents, beginning of period																																																		0	0	1,416,000,000	0	0	992,000,000	0	0	1,319,000,000		0	0	1,182,000,000	0	0	1,046,000,000
cash and cash equivalents, end of period																																																		255,000,000	-213,000,000	1,393,000,000	18,000,000	-1,000,000	1,193,000,000	-2,920,000,000	3,158,000,000	1,343,000,000		-45,000,000	-79,000,000	1,217,000,000	-471,000,000	329,000,000	1,436,000,000	398,000,000
(gains) losses on sales of assets																																																				-3,000,000
repayment of commercial paper borrowings																																																							-300,000,000
additions to property, plant and equipment																																																					-150,000,000	-146,000,000	-103,000,000	-193,000,000	-276,000,000	-194,000,000	-301,000,000	-396,000,000	-283,000,000	-219,000,000	-226,000,000	-48,000,000	-43,000,000	-197,000,000	-270,000,000	-219,000,000	-181,000,000
proceeds from asset sales and insurance recovery
business acquisitions, net of cash acquired																																																											-140,000,000
issuance costs for long-term debt																																																								0
proceeds from insurance recovery
net cash from operating activities																																																								1,138,000,000	631,000,000	516,000,000	1,230,000,000	1,318,000,000	562,000,000	710,000,000	834,000,000	557,000,000	251,000,000
sales, redemptions and maturities of short-term investments																																																								1,638,000,000	505,000,000	1,111,000,000	389,000,000
sales and redemptions of long-term investments																																																								11,000,000
net cash from investing activities																																																								-4,694,000,000	-544,000,000	63,000,000	-548,000,000	-662,000,000	204,000,000	-51,000,000	-950,000,000	142,000,000	363,000,000
sales and other common stock transactions																																																								33,000,000	180,000,000	350,000,000	287,000,000	41,000,000	50,000,000	29,000,000	34,000,000	19,000,000	18,000,000	30,000,000	89,000,000	76,000,000	67,000,000
net cash from financing activities																																																								636,000,000	3,071,000,000	-555,000,000	-456,000,000	-701,000,000	-845,000,000	-624,000,000	-355,000,000	-370,000,000	-224,000,000
net increase in cash and cash equivalents																																																								-2,920,000,000	3,158,000,000	24,000,000	226,000,000	-45,000,000	-79,000,000	35,000,000	-471,000,000	329,000,000	390,000,000	398,000,000	-133,000,000	122,000,000	521,000,000
redemptions and sales of long-term investments																																																										19,000,000	57,000,000	22,000,000	67,000,000	1,000,000	16,000,000
[millions of dollars]
gain on divestiture
proceeds from divestiture
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
accrued profit sharing and retirement																																																												63,000,000	66,000,000	-23,000,000	28,000,000	26,000,000	-97,000,000	25,000,000	23,000,000	-122,000,000	52,000,000
excess tax benefits from share-based payments
sales and maturities of short-term investments																																																													1,033,000,000	768,000,000	139,000,000	544,000,000	729,000,000	49,000,000	111,000,000	958,000,000
acquisitions, net of cash acquired																																																															0	-51,000,000	-104,000,000	0			-56,000,000
loss on sale of assets																																																																			0	6,000,000
losses on sale of assets
sales of long-term investments																																																																	3,000,000	32,000,000	0	16,000,000
income from discontinued operations																																																																					-2,000,000
gain on sale of assets
net cash from operating activities of continuing operations																																																																		1,052,000,000	519,000,000	641,000,000	1,423,000,000
proceeds from sales of assets																																																																					0
net cash from investing activities of continuing operations																																																																		-119,000,000	-181,000,000	391,000,000	1,034,000,000
payments on long-term debt
net cash from financing activities of continuing operations																																																																		-529,000,000	-473,000,000	-918,000,000	-1,939,000,000
effect of exchange rate changes on cash																																																																		-6,000,000	2,000,000	8,000,000	3,000,000
adjustments to reconcile net income to cash from operating activities of continuing operations:
cash and cash equivalents , beginning of period
(income) from discontinued operations
change in funded status of retirement plans and accrued retirement																																																																				-4,000,000
cash and cash equivalents , january 1																																																																				1,328,000,000
cash and cash equivalents, march 31																																																																				1,450,000,000
change in funded status of retirement plans and accrued retirement costs																																																																					-3,000,000
purchases of cash investments																																																																					-794,000,000
sales and maturities of cash investments																																																																					2,067,000,000
proceeds from long-term debt
excess tax benefit from stock option exercises																																																																					10,000,000
cash flows from discontinued operations:
operating activities
investing activities
net cash from discontinued operations
purchases of equity investments
sales of equity and other long-term investments
payments on loans and long-term debt
cash and cash equivalents, january 1
cash and cash equivalents, sept. 30

Texas Instruments(NASDAQ:TXN)

Texas Instruments
(NASDAQ:TXN)