What changed in this filing

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Item 1. Financial Statements

2026-04-24 compared with 2025-10-23 · 72 added, 180 removed, 358 unchanged (41% of the section changed)

Financial statements

For Three Months Ended For Nine Months Ended

Consolidated Statements of Income September 30, September 30,

For Three Months Ended

Consolidated Statements of Income March 31,

(In millions, except per-share amounts) 2026 2025

4 unchanged sentences

Selling, general and administrative (SG&A) 464 472

Restructuring charges/other 85 — 85 ( 124 )

Acquisition charges 17 —

Operating profit 1,808 1,324

16 unchanged sentences

See accompanying notes.

For Three Months Ended For Nine Months Ended

Consolidated Statements of Comprehensive Income September 30, September 30,

For Three Months Ended

Consolidated Statements of Comprehensive Income March 31,

(In millions) 2026 2025

Net income $ 1,545 $ 1,179

Other comprehensive income (loss)

Changes in other comprehensive income (loss), net of tax

Net actuarial losses of defined benefit plans:

Adjustments, net of tax effect of ($ 1 ) and $ 5 ;

1 ( 11 ) ( 19 ) ( 5 )

Recognized within net income, net of tax effect of ($ 1 ) and ($ 1 );

($ 3 ) and ($ 3 )

Adjustments 1 ( 7 )

Recognized within net income — 2

Prior service cost (credit) of defined benefit plans:

Recognized within net income, net of tax effect of $ 0 and $ 0 ;

Derivative instruments:

Change in fair value, net of tax effect of $ 0 and $ 0 ;

Available-for-sale investments:

Unrealized gains (losses), net of tax effect of $ 1 and ($ 4 );

$ 1 and ($ 2 )

Other comprehensive income (loss), net of taxes 7 5 ( 9 ) 10

Adjustments 1 —

Recognized within net income 1 —

Available-for-sale investments and other:

Adjustments ( 2 ) ( 2 )

Other comprehensive income (loss) 1 ( 7 )

Total comprehensive income $ 1,546 $ 1,172

See accompanying notes.

September 30, December 31,

March 31, December 31,

Consolidated Balance Sheets 2026 2025

41 unchanged sentences

Treasury common stock at cost

September 30, 2025 – 832 ;

March 31, 2026 – 831 ;

December 31, 2025 – 834

4 unchanged sentences

See accompanying notes.

For Nine Months Ended

Consolidated Statements of Cash Flows September 30,

For Three Months Ended

Consolidated Statements of Cash Flows March 31,

(In millions) 2026 2025

27 unchanged sentences

Cash flows from financing activities

Proceeds from issuance of long-term debt 1,199 2,980

Repayment of debt — ( 750 )

17 unchanged sentences

Our segments reflect how our chief operating decision maker (CODM), which is our chief executive officer, allocates resources and measures results.

• Analog semiconductors change real-world signals, such as sound, temperature, pressure or images, by conditioning them, amplifying them and often converting them to a stream of digital data that can be processed by other semiconductors, such as embedded processors.

• Analog semiconductors change real-world signals, such as sound, temperature, pressure or light, by conditioning them, amplifying them and often converting them to a stream of digital data that can be processed by other semiconductors, such as embedded processors.

Analog semiconductors are also used to manage power in all electronic equipment by converting, distributing, storing, discharging, isolating and measuring electrical energy, whether the equipment is plugged into a wall or using a battery.

4 unchanged sentences

We report the results of our remaining business activities in Other.

Other includes operating segments that do not meet the quantitative thresholds for individually reportable segments and cannot be aggregated with other operating segments.

Other includes DLP ® products, calculators and custom ASIC products.

Other includes DLP ® products and calculators, which are operating segments that do not meet the quantitative thresholds for individually reportable segments and cannot be aggregated with other operating segments.

In Other, we also include items that are not used in evaluating the results of or in allocating resources to our segments.

7 unchanged sentences

Segment information

For Three Months Ended September 30,

For Three Months Ended March 31,

Analog Embedded Processing Other Total Analog Embedded Processing Other Total

4 unchanged sentences

SG&A 328 104 32 464 339 104 29 472

Restructuring charges/other — — 85 85 — — — —

Acquisition charges — — 17 17 — — — —

Operating profit $ 1,638 $ 122 $ 48 $ 1,808 $ 1,206 $ 40 $ 78 $ 1,324

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

For Nine Months Ended September 30,

Analog Embedded Processing Other Total Analog Embedded Processing Other Total

Revenue $ 10,391 $ 2,035 $ 833 $ 13,259 $ 8,987 $ 1,920 $ 727 $ 11,634

Cost of revenue 4,234 1,113 301 5,648 3,600 981 273 4,854

Gross profit 6,157 922 532 7,611 5,387 939 454 6,780

R&D 1,123 380 59 1,562 1,059 355 54 1,468

SG&A 1,017 309 88 1,414 957 290 101 1,348

Restructuring charges/other — — 85 85 — — ( 124 ) ( 124 )

Operating profit $ 4,017 $ 233 $ 300 $ 4,550 $ 3,371 $ 294 $ 423 $ 4,088

Geographic area information

Our estimate for revenue based on the geographic location of our end customers’ headquarters, which represents where critical decisions are made, is as follows:

For Three Months Ended For Nine Months Ended

September 30, September 30,

2025 2024 2025 2024

For Three Months Ended

United States $ 1,796 37 % $ 1,518 37 %

5 unchanged sentences

Total revenue $ 4,825 100 % $ 4,069 100 %

(a) Revenue from end customers headquartered in Germany was 10 % and 11 % in the third quarters of 2025 and 2024, respectively, and 10 % and 12 % in the first nine months of 2025 and 2024, respectively.

(a) Revenue from end customers headquartered in Germany was 10 % and 11 % in the first quarters of 2026 and 2025, respectively.

Basis of presentation and significant accounting policies and practices

1 unchanged sentence

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and on the same basis as the audited financial statements included in our annual report on Form 10-K for the year ended December 31, 2025.

The Consolidated Statements of Income, Comprehensive Income and Cash Flows for the periods ended September 30, 2025 and 2024, and the Consolidated Balance Sheet as of September 30, 2025, are not audited but reflect all adjustments that are of a normal recurring nature and are necessary for a fair statement of the results of the periods shown.

The Consolidated Statements of Income, Comprehensive Income and Cash Flows for the periods ended March 31, 2026 and 2025, and the Consolidated Balance Sheet as of March 31, 2026, are not audited but reflect all adjustments that are of a normal recurring nature and are necessary for a fair statement of the results of the periods shown.

Certain information and note disclosures normally included in annual consolidated financial statements have been omitted pursuant to the rules and regulations of the U.S.

1 unchanged sentence

Because the consolidated interim financial statements do not include all of the information and notes required by GAAP for a complete set of financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in our annual report on Form 10-K for the year ended December 31, 2025.

The results for the three- and nine-month periods are not necessarily indicative of a full year’s results.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

The results for the three-month periods are not necessarily indicative of a full year’s results.

Significant accounting policies and practices

2 unchanged sentences

Under the two-class method, a portion of net income is allocated to RSUs and excluded from the calculation of income allocated to common stock.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Computation and reconciliation of earnings per common share are as follows:

For Three Months Ended September 30,

Net Income Shares EPS Net Income Shares EPS

Net income $ 1,364 $ 1,362

Income allocated to RSUs ( 8 ) ( 7 )

Income allocated to common stock $ 1,356 909 $ 1.49 $ 1,355 913 $ 1.48

Dilutive effect of stock compensation plans 5 7

Net income $ 1,364 $ 1,362

Income allocated to RSUs ( 8 ) ( 7 )

Income allocated to common stock $ 1,356 914 $ 1.48 $ 1,355 920 $ 1.47

For Nine Months Ended September 30,

For Three Months Ended March 31,

Net Income Shares EPS Net Income Shares EPS

6 unchanged sentences

Income allocated to common stock $ 1,536 914 $ 1.68 $ 1,173 916 $ 1.28

Potentially dilutive securities representing 4 million and 3 million shares of common stock that were outstanding during the third quarters of 2025 and 2024, respectively, and 10 million and 9 million shares outstanding during the first nine months of 2025 and 2024, respectively, were excluded from the computation of diluted earnings per common share during these periods because their effect would have been anti-dilutive.

Potentially dilutive securities representing 6 million and 10 million shares of common stock that were outstanding during the first quarters of 2026 and 2025, respectively, were excluded from the computation of diluted earnings per common share during these periods because their effect would have been anti-dilutive.

Derivatives and hedging

4 unchanged sentences

We do not apply hedge accounting to our foreign currency derivative instruments.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

We are exposed to variability in compensation charges related to certain deferred compensation obligations to employees.

4 unchanged sentences

Fair values of financial instruments

The fair values of our derivative financial instruments were not material as of September 30, 2025.

The fair values of our derivative financial instruments were not material as of March 31, 2026.

Our investments in cash equivalents, short-term investments and certain long-term investments, as well as our deferred compensation liabilities, are carried at fair value.

The carrying values for other current financial assets and liabilities, such as accounts receivable and accounts payable, approximate fair value due to the short maturity of such instruments.

As of September 30, 2025, the carrying value of long-term debt, including the current portion, was $ 14.05 billion, and the estimated fair value was $ 13.30 billion.

As of March 31, 2026, the carrying value of long-term debt, including the current portion, was $ 14.05 billion, and the estimated fair value was $ 13.05 billion.

The estimated fair value is measured using broker-dealer quotes, which are Level 2 inputs.

See Note 4 for a description of fair value and the definition of Level 2 inputs.

Changes in accounting standards – standards not yet adopted

ASU 2023-09, Improvements to Income Tax Disclosures

This standard requires disaggregated income tax disclosures on effective tax rate reconciliations and income taxes paid.

ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024.

As a result of adopting this guidance, our income tax disclosures will be expanded.

ASU 2024-03, Disaggregation of Income Statement Expenses

This standard requires disaggregated disclosures of certain expense captions into specified categories in the notes to the financial statements.

ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026.

We are currently evaluating the potential impact of this standard on our financial statement disclosures.

ASU 2025-06, Targeted Improvements to the Accounting for Internal-Use Software

This standard makes targeted improvements that clarify and modernize the accounting for costs related to internal-use software.

ASU 2025-06 is effective for interim and annual reporting periods beginning after December 15, 2027.

We are currently evaluating the potential impact of this standard on our financial statements and related disclosures.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Changes in accounting standards – standards not yet adopted

We are currently evaluating the potential impact of the following Accounting Standards Updates (ASU) on our financial statements and related disclosures.

We plan to adopt these ASUs as of their effective dates.

ASU Description Effective for Period Ending

2024-03 Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses December 31, 2027

2025-06 Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40):

Targeted Improvements to the Accounting for Internal-Use Software March 31, 2028

2025-10 Government Grants (Topic 832):

Accounting for Government Grants Received by Business Entities March 31, 2029

Provision for income taxes is based on the following:

For Three Months Ended For Nine Months Ended

September 30, September 30,

2025 2024 2025 2024

For Three Months Ended

Taxes calculated using the estimated annual effective tax rate $ 229 $ 166

2 unchanged sentences

Effective tax rate 10 % 8 %

On July 4, 2025, the U.S.

government enacted the One Big Beautiful Bill Act (OBBBA).

The OBBBA provides changes to U.S.

federal tax law, including expensing of U.S.

research expenditures and eligible capital expenditures, increasing the U.S.

CHIPS Act investment tax credit and changing other tax provisions.

The effects of the new law are reflected in the consolidated financial statements as of and for the periods ended September 30, 2025.

The effective tax rate differs from the 21 % U.S.

statutory corporate tax rate due to the effect of U.S.

tax benefits, including the effect of OBBBA.

tax benefits.

Valuation of debt and equity investments and certain liabilities

14 unchanged sentences

Details of our investments are as follows:

September 30, 2025 December 31, 2024

March 31, 2026 December 31, 2025

Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash and Cash Equivalents Short-Term Investments Long-Term Investments

6 unchanged sentences

Total 3,145 1,554 10 2,841 1,656 11

Other measurement basis:

Equity-method investments — — 2 — — 8

Nonmarketable investments — — 4 — — 4

Total — — 6 — — 12

Other investments — — 5 — — 5

Cash on hand 404 — — 384 — —

Total $ 3,549 $ 1,554 $ 15 $ 3,225 $ 1,656 $ 16

As of September 30, 2025, and December 31, 2024, unrealized gains and losses associated with our debt investments were not material.

We did no t recognize any credit losses related to debt investments for the first nine months of 2025 and 2024.

The following table presents the aggregate maturities of our debt investments as of September 30, 2025:

As of March 31, 2026, and December 31, 2025, unrealized gains and losses associated with our debt investments were not material.

We did no t recognize any credit losses related to debt investments for the first three months of 2026 and 2025.

The following table presents the aggregate maturities of our debt investments as of March 31, 2026:

One year or less $ 3,138

One to two years 439

Proceeds from sales, redemptions and maturities of short-term debt investments were $ 1.26 billion and $ 2.70 billion for the third quarters of 2025 and 2024, respectively, and $ 5.20 billion and $ 8.46 billion for the first nine months of 2025 and 2024, respectively.

Proceeds from sales, redemptions and maturities of short-term debt investments were $ 1.04 billion and $ 2.81 billion for the first quarters of 2026 and 2025, respectively.

Gross realized gains and losses from these sales were not material.

7 unchanged sentences

We utilize a third-party data service to provide Level 2 valuations, and we verify these valuations for reasonableness.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

• Level 3 – Uses inputs that are unobservable, supported by little or no market activity and reflect the use of significant management judgment.

As of September 30, 2025, and December 31, 2024, we had no Level 3 assets or liabilities.

As of March 31, 2026, and December 31, 2025, we had no Level 3 assets or liabilities.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

The following are our assets and liabilities that were accounted for at fair value on a recurring basis.

These tables do not include cash on hand, assets held by our postretirement plans, or assets and liabilities that are measured at historical cost or any basis other than fair value.

September 30, 2025 December 31, 2024

March 31, 2026 December 31, 2025

Level 1 Level 2 Total Level 1 Level 2 Total

12 unchanged sentences

Defined Benefit

For Three Months Ended September 30, 2025 2024 2025 2024 2025 2024

Service cost $ 1 $ 2 $ — $ — $ 4 $ 4

Interest cost 6 7 3 4 16 15

Expected return on plan assets ( 3 ) ( 7 ) ( 2 ) ( 4 ) ( 20 ) ( 22 )

Recognized net actuarial losses (gains) 1 1 — ( 1 ) 1 3

Amortization of prior service cost (credit) — — — — — 1

Net periodic benefit costs (credits) 5 3 1 ( 1 ) 1 1

Settlement losses 4 — — — — —

Total, including other postretirement losses (gains) $ 9 $ 3 $ 1 $ ( 1 ) $ 1 $ 1

Defined Benefit U.S.

Retiree Health Care Non-U.S.

Defined Benefit

For Nine Months Ended September 30, 2025 2024 2025 2024 2025 2024

For Three Months Ended March 31, 2026 2025 2026 2025 2026 2025

Service cost $ 2 $ 2 $ — $ — $ 4 $ 4

4 unchanged sentences

Net periodic benefit costs (credits) $ 3 $ 6 $ — $ — $ 1 $ 1

Settlement losses 7 — — — — —

Total, including other postretirement losses (gains) $ 23 $ 10 $ 1 $ ( 4 ) $ 4 $ 4

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Debt and lines of credit

1 unchanged sentence

We maintain a line of credit to provide additional liquidity through bank loans and, if necessary, to support commercial paper borrowings.

As of September 30, 2025, the aforementioned line of credit was a variable-rate, revolving credit facility from a consortium of investment-grade banks that allows us to borrow up to $ 1 billion until March 2026.

As of March 31, 2026, the aforementioned line of credit was a variable-rate, revolving credit facility from a consortium of investment-grade banks that allows us to borrow up to $ 1 billion until March 2027.

The interest rate on borrowings under this credit facility, if drawn, is indexed to the applicable Term Secured Overnight Financing Rate (Term SOFR).

As of September 30, 2025, our credit facility was undrawn, and we had no commercial paper outstanding.

Long-term debt

In May 2025, we issued two series of senior unsecured notes for an aggregate principal amount of $ 1.20 billion, consisting of $ 550 million of 4.50 % notes due in 2030 and $ 650 million of 5.10 % notes due in 2035.

We incurred $ 6 million of issuance and other related costs.

The proceeds of the offering were $ 1.20 billion, net of the original issuance discounts, which will be used for general corporate purposes.

In March 2025, we retired $ 750 million of maturing debt.

As of March 31, 2026, our credit facility was undrawn, and we had no commercial paper outstanding.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Long-term debt outstanding is as follows:

September 30, December 31,

Notes due 2025 at 1.375 %

March 31, December 31,

Notes due 2026 at 1.125 %

23 unchanged sentences

Long-term debt $ 12,901 $ 13,548

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Interest and debt expense was $ 141 million and $ 131 million for the third quarters of 2025 and 2024, respectively, and $ 402 million and $ 378 million for the first nine months of 2025 and 2024, respectively.

Interest and debt expense was $ 141 million and $ 128 million for the first quarters of 2026 and 2025, respectively.

This was net of the amortized discounts, premiums and issuance and other related costs.

Capitalized interest was $ 3 million and $ 5 million for the third quarters of 2025 and 2024, respectively, and $ 9 million and $ 16 million for the first nine months of 2025 and 2024, respectively.

Capitalized interest was $ 3 million and $ 4 million for the first quarters of 2026 and 2025, respectively.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Stockholders’ equity

12 unchanged sentences

Balance, March 31, 2026 $ 1,741 $ 4,722 $ 52,483 $ ( 42,084 ) $ ( 84 )

Net income — — 1,295 — —

Dividends declared and paid ($ 1.36 per share)

— — ( 1,235 ) — —

Common stock issued for stock-based awards — 59 — 56 —

Stock repurchases — — — ( 290 ) —

Stock compensation — 129 — — —

Other comprehensive income (loss), net of taxes — — — — ( 9 )

Dividend equivalents on RSUs — — ( 7 ) — —

Other — ( 1 ) — — —

Balance, June 30, 2025 1,741 4,245 52,249 ( 41,676 ) ( 156 )

Net income — — 1,364 — —

Dividends declared and paid ($ 1.36 per share)

— — ( 1,236 ) — —

Common stock issued for stock-based awards — 72 — 53 —

Stock repurchases — — — ( 121 ) —

Stock compensation — 93 — — —

Other comprehensive income (loss), net of taxes — — — — 7

Dividend equivalents on RSUs — — ( 7 ) — —

Other — — ( 1 ) — —

Balance, September 30, 2025 $ 1,741 $ 4,410 $ 52,369 $ ( 41,744 ) $ ( 149 )

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Common Stock Paid-in Capital Retained Earnings Treasury Common Stock AOCI

10 unchanged sentences

Balance, March 31, 2025 $ 1,741 $ 4,058 $ 52,196 $ ( 41,442 ) $ ( 147 )

Net income — — 1,127 — —

Dividends declared and paid ($ 1.30 per share)

— — ( 1,185 ) — —

Common stock issued for stock-based awards — 111 — 137 —

Stock repurchases — — — ( 72 ) —

Stock compensation — 116 — — —

Other comprehensive income (loss), net of taxes — — — — 3

Dividend equivalents on RSUs — — ( 6 ) — —

Balance, June 30, 2024 1,741 3,666 52,135 ( 40,128 ) ( 200 )

Net income — — 1,362 — —

Dividends declared and paid ($ 1.30 per share)

— — ( 1,187 ) — —

Common stock issued for stock-based awards — 62 — 55 —

Stock repurchases — — — ( 322 ) —

Stock compensation — 87 — — —

Other comprehensive income (loss), net of taxes — — — — 5

Dividend equivalents on RSUs — — ( 6 ) — —

Other — ( 2 ) — — —

Balance, September 30, 2024 $ 1,741 $ 3,813 $ 52,304 $ ( 40,395 ) $ ( 195 )

Contingencies

3 unchanged sentences

Consequently, we cannot reasonably estimate any future liabilities that may result.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Warranty costs/product liabilities

5 unchanged sentences

During the periods presented, there have been no material accruals or payments regarding product warranty or product liability.

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

We are subject to various legal and administrative proceedings.

1 unchanged sentence

Supplemental financial information

Restructuring charges/other

During the third quarter and first nine months of 2025, we recognized $ 85 million of restructuring charges related to efforts to drive operational efficiencies to support our long-term strategy, including the planned closures of our two remaining factories with 150mm production.

The restructuring charges are attributable to severance and benefit costs and are included in Other for segment reporting purposes.

Acquisition of Silicon Labs

As announced on February 4, 2026, we have entered into a definitive agreement to acquire Silicon Labs for $ 231.00 per share in an all-cash transaction, representing a total enterprise value of approximately $ 7.5 billion.

Under the terms of the agreement, Silicon Labs stockholders will receive $ 231.00 in cash for each share of Silicon Labs common stock they hold at the time of closing, which is currently expected in the first half of 2027, subject to receipt of regulatory approvals and other customary closing conditions, including approval by Silicon Labs stockholders.

We expect to fund the transaction with a combination of cash on hand and debt financing to be arranged prior to closing.

During the first quarter of 2026, we incurred $ 17 million of acquisition charges.

Prepaid expenses and other current assets

September 30, December 31,

March 31, December 31,

CHIPS Act incentives $ 1,404 $ 1,709

2 unchanged sentences

Other long-term assets

September 30, December 31,

March 31, December 31,

CHIPS Act incentives $ 1,493 $ 1,639

3 unchanged sentences

Details on amounts reclassified out of accumulated other comprehensive income (loss), net of taxes, to net income

Our Consolidated Statements of Comprehensive Income include items that have been recognized within net income during the third quarters and first nine months of 2025 and 2024.

Our Consolidated Statements of Comprehensive Income include items that have been recognized within net income during the first quarters of 2026 and 2025.

The table below details where these transactions are recorded in our Consolidated Statements of Income.

For Three Months Ended For Nine Months Ended Impact to Related Statement of Income Lines

September 30, September 30,

2025 2024 2025 2024

For Three Months Ended Impact to Related Statement of Income Lines

Net actuarial losses of defined benefit plans:

Recognized net actuarial losses and settlement losses (a) $ 6 $ 3 $ 14 $ 10 Decrease to OI&E

Tax effect ( 1 ) ( 1 ) ( 3 ) ( 3 ) Decrease to provision for income taxes

Recognized within net income, net of taxes $ 5 $ 2 $ 11 $ 7 Decrease to net income

Recognized net actuarial losses (a) $ — $ 3 Decrease (increase) to OI&E

Tax effect — ( 1 ) (Decrease) increase to provision for income taxes

Recognized within net income, net of taxes $ — $ 2 Decrease (increase) to net income

Prior service cost (credit) of defined benefit plans:

9 unchanged sentences

Balance, March 31 831

Repurchases 1

Shares issued for stock compensation ( 1 )

Balance, June 30 832

Repurchases 1

Shares issued for stock compensation ( 1 )

Balance, September 30 832

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements