Texas Instruments Inc., adjustment to net income

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net income (as reported)	4,799)	6,510)	8,749)	7,769)	5,595)
Add: Available-for-sale investments	—)	5)	(3)	—)	—)
Net income (adjusted)	4,799)	6,515)	8,746)	7,769)	5,595)

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Texas Instruments Inc., adjusted profitability ratios

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Profit Margin
Reported net profit margin	30.68%	37.16%	43.68%	42.35%	38.69%
Adjusted net profit margin	30.68%	37.19%	43.67%	42.35%	38.69%
Return on Equity (ROE)
Reported ROE	28.39%	38.53%	60.02%	58.27%	60.90%
Adjusted ROE	28.39%	38.56%	60.00%	58.27%	60.90%
Return on Assets (ROA)
Reported ROA	13.51%	20.12%	32.16%	31.48%	28.91%
Adjusted ROA	13.51%	20.14%	32.15%	31.48%	28.91%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Texas Instruments Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Texas Instruments Inc. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Texas Instruments Inc. adjusted ROA deteriorated from 2022 to 2023 and from 2023 to 2024.

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	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income	4,799)	6,510)	8,749)	7,769)	5,595)
Revenue	15,641)	17,519)	20,028)	18,344)	14,461)
Profitability Ratio
Net profit margin¹	30.68%	37.16%	43.68%	42.35%	38.69%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income	4,799)	6,515)	8,746)	7,769)	5,595)
Revenue	15,641)	17,519)	20,028)	18,344)	14,461)
Profitability Ratio
Adjusted net profit margin²	30.68%	37.19%	43.67%	42.35%	38.69%

2024 Calculations

¹ Net profit margin = 100 × Net income ÷ Revenue
= 100 × 4,799 ÷ 15,641 = 30.68%

² Adjusted net profit margin = 100 × Adjusted net income ÷ Revenue
= 100 × 4,799 ÷ 15,641 = 30.68%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Texas Instruments Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income	4,799)	6,510)	8,749)	7,769)	5,595)
Stockholders’ equity	16,903)	16,897)	14,577)	13,333)	9,187)
Profitability Ratio
ROE¹	28.39%	38.53%	60.02%	58.27%	60.90%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income	4,799)	6,515)	8,746)	7,769)	5,595)
Stockholders’ equity	16,903)	16,897)	14,577)	13,333)	9,187)
Profitability Ratio
Adjusted ROE²	28.39%	38.56%	60.00%	58.27%	60.90%

2024 Calculations

¹ ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × 4,799 ÷ 16,903 = 28.39%

² Adjusted ROE = 100 × Adjusted net income ÷ Stockholders’ equity
= 100 × 4,799 ÷ 16,903 = 28.39%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Texas Instruments Inc. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income	4,799)	6,510)	8,749)	7,769)	5,595)
Total assets	35,509)	32,348)	27,207)	24,676)	19,351)
Profitability Ratio
ROA¹	13.51%	20.12%	32.16%	31.48%	28.91%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income	4,799)	6,515)	8,746)	7,769)	5,595)
Total assets	35,509)	32,348)	27,207)	24,676)	19,351)
Profitability Ratio
Adjusted ROA²	13.51%	20.14%	32.15%	31.48%	28.91%

2024 Calculations

¹ ROA = 100 × Net income ÷ Total assets
= 100 × 4,799 ÷ 35,509 = 13.51%

² Adjusted ROA = 100 × Adjusted net income ÷ Total assets
= 100 × 4,799 ÷ 35,509 = 13.51%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Texas Instruments Inc. adjusted ROA deteriorated from 2022 to 2023 and from 2023 to 2024.

Texas Instruments Inc. (NASDAQ:TXN)

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