TEXAS INSTRUMENTS INC (TXN) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
Revenues	20,028	18,344	14,461	14,383	15,784	14,961	13,370	13,000
Revenue growth	9.2%	26.9%	0.5%	-8.9%	5.5%	11.9%	2.8%	-0.3%
Cost of goods sold	6,257	5,968	5,192	5,219	5,507	5,347	5,113	5,425
Gross profit	13,771	12,376	9,269	9,164	10,277	9,614	8,257	7,575
Gross margin	68.8%	67.5%	64.1%	63.7%	65.1%	64.3%	61.8%	58.3%
Selling, general and administrative	1,704	1,666	1,623	1,645	1,684	1,694	2,088	2,037
Research and development	1,670	1,554	1,530	1,544	1,559	1,508	1,356	1,267
EBITA	10,140	9,156	6,116	5,975	7,349	6,719	5,493	4,968
EBITA margin	50.6%	49.9%	42.3%	41.5%	46.6%	44.9%	41.1%	38.2%
Amortization of intangibles		142	198	288	318	318	319	319
EBIT	10,140	9,014	5,918	5,687	7,031	6,401	5,174	4,649
EBIT margin	50.6%	49.1%	40.9%	39.5%	44.5%	42.8%	38.7%	35.8%
Pre-tax income	10,032	8,919	6,017	5,728	6,686	6,080	4,930	4,216
Income taxes	1,283	1,150	422	711	1,106	2,398	1,335	1,230
Tax rate	12.8%	12.9%	7.0%	12.4%	16.5%	39.4%	27.1%	29.2%
Earnings from continuing ops	8,749	7,736	5,568	4,986	5,538	3,649	3,551	2,944
Earnings from discontinued ops	8,749
Net income	8,749	7,736	5,568	4,986	5,538	3,649	3,551	2,944
Net margin	43.7%	42.2%	38.5%	34.7%	35.1%	24.4%	26.6%	22.6%

Diluted EPS	$9.45	$8.26	$5.97	$5.24	$5.59	$3.61	$3.48	$2.82
Shares outstanding (diluted)	926	936	933	952	990	1,012	1,021	1,043

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.