Texas Instruments trumpets their share buyback activity. In reality, the aggressive nature of their stock option program destroys shareholder value, in our opinion.
| Texas Instruments | 2014 | 2013 | 2012 | 2011 | 2010 |
| Shares Purchased, net of shares issued | 27mm | 25mm | 32mm | 28mm | 24mm |
| Cash Spent, net of cash received | 1,657mm | 1,554mm | 1,277mm | 1,283mm | 2,047mm |
| Estimated Average Market Price | 47 | 37 | 30 | 31 | 25 |
| Estimated Average Effective Price paid per share | 61 | 62 | 40 | 45 | 27 |
