txn-20260630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to ___________

Commission File Number 001-03761

TEXAS INSTRUMENTS INCORPORATED

(Exact Name of Registrant as Specified in Its Charter)

Delaware

75-0289970

(State of Incorporation)

(I.R.S. Employer Identification No.)

12500 TI Boulevard, Dallas, Texas

75243

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code 214-479-3773

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.00	TXN	The Nasdaq Global Select Market

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act

☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

913,247,686

Number of shares of Registrant’s common stock outstanding as of

July 15, 2026

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

PART I - FINANCIAL INFORMATION

ITEM 1. Financial statements


	For Three Months Ended				For Six Months Ended
Consolidated Statements of Income	June 30,				June 30,
(In millions, except per-share amounts)	2026		2025		2026		2025
Revenue	$	5,463	$	4,448	$	10,288	$	8,517
Cost of revenue (COR)	2,111		1,873		4,137		3,629
Gross profit	3,352		2,575		6,151		4,888
Research and development (R&D)	535		527		1,045		1,044
Selling, general and administrative (SG&A)	490		485		954		957
Acquisition charges	17		—		34		—

Operating profit	2,310		1,563		4,118		2,887
Other income (expense), net (OI&E)	69		48		116		128
Interest and debt expense	141		133		282		261
Income before income taxes	2,238		1,478		3,952		2,754
Provision for income taxes	258		183		427		280
Net income	$	1,980	$	1,295	$	3,525	$	2,474

Earnings per common share (EPS):
Basic	$	2.16	$	1.42	$	3.85	$	2.71
Diluted	$	2.14	$	1.41	$	3.82	$	2.69

Average shares outstanding:
Basic	912		908		911		909
Diluted	920		912		917		914

A portion of net income is allocated to unvested restricted stock units (RSUs) on which we pay dividend equivalents. Diluted EPS is calculated using the following:

Net income	$	1,980	$	1,295	$	3,525	$	2,474
Income allocated to RSUs	(11)		(7)		(20)		(13)
Income allocated to common stock for diluted EPS	$	1,969	$	1,288	$	3,505	$	2,461

See accompanying notes.


	For Three Months Ended				For Six Months Ended
Consolidated Statements of Comprehensive Income	June 30,				June 30,
(In millions)	2026		2025		2026		2025
Net income	$	1,980	$	1,295	$	3,525	$	2,474
Changes in other comprehensive income (loss), net of tax
Net actuarial losses of defined benefit plans:
Adjustments	1		(13)		2		(20)
Recognized within net income	1		4		1		6
Prior service cost (credit) of defined benefit plans:
Adjustments	—		—		1		—
Recognized within net income	—		—		1		—
Available-for-sale investments and other:
Adjustments	(1)		—		(3)		(2)
Other comprehensive income (loss)	1		(9)		2		(16)
Total comprehensive income	$	1,981	$	1,286	$	3,527	$	2,458

See accompanying notes.


	June 30,		December 31,
Consolidated Balance Sheets	2026		2025
(In millions, except par value)
Assets
Current assets:
Cash and cash equivalents	$	3,660	$	3,225
Short-term investments	3,341		1,656
Accounts receivable, net of allowances of ($22) and ($22)	2,520		1,963
Raw materials	467		465
Work in process	2,407		2,372
Finished goods	1,731		1,967
Inventories	4,605		4,804
Prepaid expenses and other current assets	1,631		2,102
Total current assets	15,757		13,750
Property, plant and equipment at cost	17,856		17,682
Accumulated depreciation	(5,945)		(5,362)
Property, plant and equipment	11,911		12,320
Goodwill	4,330		4,330
Deferred tax assets	1,017		967
Capitalized software licenses	314		238
Overfunded retirement plans	316		324
Other long-term assets	2,237		2,656
Total assets	$	35,882	$	34,585

Liabilities and stockholders’ equity