<SEC-DOCUMENT>0000950103-22-013440.txt : 20220921
<SEC-HEADER>0000950103-22-013440.hdr.sgml : 20220921
<ACCEPTANCE-DATETIME>20220801172021
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-22-013440
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEXAS INSTRUMENTS INC
		CENTRAL INDEX KEY:			0000097476
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				750289970
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		P.O. BOX 660199
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75266
		BUSINESS PHONE:		9729953773

	MAIL ADDRESS:	
		STREET 1:		12500 TI BLVD
		STREET 2:		PO BOX 660199
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75266
</SEC-HEADER>
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<P STYLE="text-align: right; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&#9;August 1, 2022</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">United States Securities
and Exchange Commission</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Division of Corporation
Finance</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Office of Manufacturing</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">100 F Street NE</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Washington, D.C.
20549</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Attention: Jennifer
Angelini, Erin Donahue</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt"><B>RE:</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>Texas Instruments Incorporated</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 3pt; margin-left: 0.5in; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Form
10-K for Fiscal Year Ended December 31, 2021</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 3pt; margin-left: 0.5in; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Filed
February 4, 2022</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 3pt; margin-left: 0.5in; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Response
Dated June 29, 2022</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>File
No. 001-03761</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Dear Ms. Angelini
and Ms. Donahue:</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">On behalf of Texas
Instruments Incorporated (the &ldquo;Company&rdquo; or &ldquo;TI&rdquo;), set forth below is the Company&rsquo;s response to the comments
of the Staff (the &ldquo;Staff&rdquo;) of the Securities and Exchange Commission (the &ldquo;SEC&rdquo;), dated July 18, 2022 relating
to the Company&rsquo;s Form 10-K for the year-ended December 31, 2021 (the &ldquo;2021 10-K&rdquo;). Reference is made to TI&rsquo;s
letter dated June 29, 2022 (&ldquo;Initial Response Letter&rdquo;) in response to the SEC&rsquo;s comment letter dated June 2, 2022.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7in; text-align: justify"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7in; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Rafael
R. Lizardi&#9;</FONT></P>

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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7in; text-align: justify"><FONT STYLE="font-size: 10pt">Rafael
R. Lizardi</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7in; text-align: justify"><FONT STYLE="font-size: 10pt">Senior
Vice President and</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7in; text-align: justify"><FONT STYLE="font-size: 10pt">Chief
Financial Officer</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 4.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0pt 3pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Response Dated
June 29, 2022</U></I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Risk Factors,
page 9</U></I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>1. We note your
response to prior comment two. Please describe the specific transition risks you have considered, including those identified in our comment,
and tell us about your evaluation of the material effects of such risks, providing support for your determinations of materiality.</I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Response</U>:
</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>As part of the
processes noted in TI&rsquo;s response to Comment 2 of the Company&rsquo;s Initial Response Letter, TI did not identify any effects of
transition risks that it believed would have a material impact on the Company&rsquo;s financial condition or results of operations. </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>One of the transition
risks TI considered is the effect of changing policies and regulations that could impose operational and compliance burdens. Some laws,
rules, and regulations may affect TI in the jurisdictions in which TI manufactures products, particularly if such laws and regulations
require the use of abatement equipment beyond what TI currently employs or require the addition or elimination of a material or process
to or from TI&rsquo;s current manufacturing processes, which can increase our operating costs or require capital expenditures, or if
such laws and regulations impose costs, fees, or reporting requirements on the direct or indirect use of energy, natural resources, or
materials or gases used or emitted into the environment in connection with the manufacture of TI products. TI routinely monitors regulations
and policies in the regions in which we operate to identify proposed revisions and amendments to such regulations and policies. Although
compliance costs related to climate change are expected to increase in future years with additional regulation expected in the United
States and internationally, the impact of unknown or yet-to-be enacted laws and regulations cannot be predicted. In assessing materiality
related to existing policy and regulatory changes in response to climate change, TI has assessed, in part, the current and anticipated
costs related to compliance with such laws and regulations, and evaluated the impact to TI&rsquo;s financial condition and results of
operations. TI has interpreted &ldquo;compliance costs&rdquo; in this comment letter (and the Staff&rsquo;s prior Comment 7) to mean
the necessary costs incurred to comply with existing laws and regulations applicable to the Company with respect to climate change. For
example, TI is required to annually report certain greenhouse gas emissions data to the Environmental Protection Agency. Similarly, the
SEC&rsquo;s Guidance Regarding Disclosure Related to Climate Change outlines how SEC disclosure requirements apply to climate change
matters. These requirements involve mostly costs for internal personnel, including personnel whose primary responsibilities fall outside
of dedicated environmental sustainability matters, such as legal, accounting and finance personnel and, in some instances, external service
provider fees and other miscellaneous expenses. During the periods covered by the 2021 10-K, TI determined that these compliance costs
did not have a material impact to the Company&rsquo;s financial condition or results of operations. In support of this assessment, TI
notes that its total compliance costs related to climate change were estimated to represent less than 1.0% of the Company&rsquo;s total
selling, general, and administrative expenses for each of the years ended December 31, 2021 ($1.7 billion), 2020 ($1.6 billion) and 2019
($1.6 billion). </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Another transition
risk TI considered includes reputational risk resulting from increased attention on operations or products that produce greenhouse gas
emissions. Assessment of this transition risk </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>involved consideration
of the potential for increased stakeholder concern or negative feedback that adversely affects TI&rsquo;s reputation, which could result
in loss of market share. The products that TI produces, semiconductors, which are electronic components that serve as the building blocks
inside modern electronic systems and equipment, are not producers of greenhouse gas emissions in and of themselves. Also, semiconductors
play a role in helping reduce the impact on the environment by, for example, making electric motors smarter and more efficient which
helps reduce energy consumption, electrifying vehicles for a cleaner environment and sensing water and gas leaks that preserve natural
resources. Operationally, as a manufacturer of billions of semiconductors a year, TI values manufacturing semiconductors efficiently
and with a commitment to continuous improvement. TI&rsquo;s investments in 300-millimeter advanced manufacturing facilities help to extend
the Company&rsquo;s cost advantage and give TI greater control of its supply chain, and at the same time, they enable the Company to
reduce emissions per chip, and increase water and energy efficiency. Additionally, TI gauges its reputation in strategically addressing
climate-related issues by engaging with its broad stakeholder base that includes investors, customers, suppliers, and employees. These
activities serve to address and mitigate potential reputational concerns, and, to date, no significant reputational concerns have been
identified through these interactions. Similarly, TI&rsquo;s long history of annual sustainability and climate reporting helps to mitigate
the reputation risk that other companies that may not disclose as often or with as much information may experience. In consideration
of the above factors, during the periods covered by the 2021 10-K, TI determined that the reputational risk associated with increased
attention on climate change did not have a material impact to the Company&rsquo;s financial condition or results of operations. </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Finally, another transition risk TI considered includes
market trends that may alter business opportunities. TI considers the market&rsquo;s increasing development of new technologies with lower
energy consumption and lower greenhouse gas emissions to potentially alter business opportunities for TI in light of those technologies&rsquo;
potential use of semiconductors. In particular, market opportunities exist and may grow in connection with electric vehicles, solar panels,
charging infrastructure, and other such new and alternative technologies. However, these opportunities are driven by a host of complex
factors occurring in a broad and dynamic global context, in which climate change considerations are one of many factors in play. For instance,
even assuming a significant rate of adoption of semiconductors in technologies with lower energy consumption and greenhouse gas emissions,
it is anticipated to be a number of years before any such technology would be expected to displace established technologies in which semiconductors
are not used. Similarly, advances in the global supply chain and electrical grid infrastructure would be needed to keep pace with the
supply chain, manufacturing, and repair demands required to see one or all of the current alternative technologies outpace current technologies.
Also, the demand for rare earth minerals used in such technologies could temper growth until further design or innovation can overcome
resource and budgetary constraints. Moreover, in the absence of multi-jurisdictional regulatory mandates requiring adoption of such new
technologies, the fractious regulatory environment at a domestic and international level will continue to be a potential inhibitor to
broad and consistent adoption of such technologies, and consequently, for demand for semiconductor products in such technologies. In consideration
of the above factors, during the periods covered by the 2021 10-K, TI determined that these market trends did not have a material impact
to the Company&rsquo;s financial condition or results of operations. </B></P>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TI will continue
to monitor the potential effects of transition risks related to climate change. If such risks are considered to have a material effect
on its business, financial condition, or results of operations, TI will disclose such risks in future SEC filings, as required.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Management's
Discussion and Analysis of Financial Condition and Results of Operations, page </U></I><U>17</U></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>2. We note that
your response to prior comment four includes quantitative information solely in relation to 2021, and accordingly reissue it in part.
Please provide us with quantitative information regarding past and future capital expenditures for climate-related projects for each
of the periods covered by your Form 10-K and for future periods.</I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Response</U>:
</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TI acknowledges
the Staff&rsquo;s comment, and confirms that for the reasons explained in more detail in Comment 4 of the Company&rsquo;s Initial Response
Letter, climate-related projects referenced in the Company&rsquo;s Initial Response Letter and below, individually and in the aggregate,
did not involve material amounts of capital expenditures during the periods covered by the 2021 10-K, nor are they expected to require
material amounts of capital expenditures in future periods. </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>As requested
by the Staff, TI respectfully submits that in regard to capital expenditures for energy efficiency projects to reduce greenhouse gas
emissions and energy costs referenced in the Company&rsquo;s Corporate Citizenship Reports for 2021, 2020, and 2019, the aggregate amounts
of such projects were estimated to represent less than 1.0% of the Company&rsquo;s total capital expenditures for each of the years ended
December 31, 2021 ($2.5 billion), 2020 ($649 million), and 2019 ($847 million). For 2022, TI anticipates a similar level of expenditures
for such projects in proportion to the Company&rsquo;s total capital expenditures.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Apart from these
projects, TI manufactures billions of chips per year and believes it is critical for TI to drive efficiencies in the Company&rsquo;s
fabrication process. As TI continues to expand its 300-millimeter manufacturing facilities and related advanced technology in these facilities,
which are being designed and operated to optimize energy efficiency, the efficiencies recognized will continue to positively impact the
Company&rsquo;s environmental footprint.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>3. Your response
to prior comment five appears to be conclusory in nature without providing sufficient detail regarding the indirect consequences of climate-related
regulation or business trends, including the specific items noted in our comment, and your assessment thereof. Please more fully describe
the indirect consequences of climate change and tell us how you concluded they were not material. Provide support for your assessment,
such as the quantitative analyses and qualitative factors referenced in your response.</I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Response</U>:
</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>With respect
to the 2021 10-K, TI did not identify any indirect consequences of climate-related regulation or business trends that had or are reasonably
expected to have a material impact to the Company&rsquo;s financial condition or results of operations. TI acknowledges and has disclosed
actual and potential risks related to the indirect consequences of climate-related regulation or business trends within the Risk Factors
section of the 2021 10-K. However, TI did not identify material indirect consequences during the periods covered by its 2021 10-K.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>As requested
by the Staff, set forth below is TI&rsquo;s response to each of the individual items referenced in the Staff&rsquo;s prior comment 5:</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>decreased
                                            demand for goods or services that produce significant greenhouse gas emission or are related
                                            to carbon-based energy sources; </I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 3pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>increased
                                            demand for goods that result in lower emissions than competing products;</I></B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TI did not experience
decreased demand for goods or services as a result of customers indicating that TI&rsquo;s products produce significant greenhouse gas
emissions or are related to carbon-based energy sources, nor increased demand for goods that result in lower emissions than competing
products. During the periods covered by the 2021 10-K, the Company attributed changes in demand to broad-based demand across industrial,
automotive and personal electronics markets (in 2021), to global impacts from the COVID-19 pandemic (in 2020), and to an uncertain macro-economy
that impacted our customers&rsquo; end demand (in 2019). The Company continuously monitors demand for TI products and the reason for
changes through a wide variety of means, which includes communicating regularly with customers, monitoring forecasts, sales, shipment
volumes, channel mix, and inventory levels, among other factors. TI has observed that of its over 100,000 customers, there are customers
that consider energy or emissions-related criteria such as energy intensity when selecting TI products. However, TI notes that there
are many underlying business reasons that can impact demand for TI products, which can include product portfolio breadth, the strength
and reach of channels to market, technological innovation, product development execution, technical support, customer service, quality,
reliability, price, and manufacturing capacity and capabilities, among other factors. To date, there is not a significant discernable
demand related to whether TI&rsquo;s products produce significant greenhouse gas emissions or are related to carbon-based energy sources,
nor a discernable trend of customers changing their demand for products for the purpose of achieving lower emissions than competing products.
Instead, TI believes long term secular growth is driven by increase semiconductor content per system, especially in the industrial and
automotive markets, combined with TI&rsquo;s competitive advantages. These competitive advantages include the breadth of the Company&rsquo;s
portfolio, the reach of our market channels, the Company&rsquo;s strong manufacturing footprint, and the diversity and longevity of the
</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Company&rsquo;s
products, markets, and customer positions. As such, TI believes these are the important and primary drivers and considerations to TI
customers in their product selection and design-in process. </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>increased
                                            competition to develop innovative new products that result in lower emissions;</I></B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>TI has a long-standing commitment to be innovative
and responsible and have sustainable manufacturing with a focus on improving energy efficiency, reducing greenhouse gas emissions, reducing
waste, and reusing more water. For example, in its Corporate Citizenship Report for 2021, TI reported a year-end goal by 2025 of a 50%
reduction in energy intensity per chip from a 2015 base year, and reported progress by year-end 2021 of a 33% reduction in energy intensity
per chip. TI believes these efforts result in less energy used in connection with the manufacturing of TI products, and therefore, fewer
associated emissions. While there is some level of demand for products that use less energy for the purpose of achieving lower emissions,
and some related competition among manufacturers to produce such products, TI faces competition to develop technological solutions that
help serve all of our customers&rsquo; semiconductor needs, which include energy efficiency needs apart from lowering emissions. For example,
customers of TI&rsquo;s Analog Power business look to TI to help solve key power efficiency design challenges such as increasing power
density, extending battery life and enhancing power and signal integrity. These power solutions help customers lower costs, decrease system
size and make systems safer, among other things, in addition to any climate change-related benefits. Beyond power management, TI&rsquo;s
broad portfolio of approximately 80,000 products helps TI&rsquo;s customers accurately sense, condition, measure and transmit data, and
provides the core control or processing in their electronic systems. As TI disclosed in the Risk Factors section of the 2021 10-K, within
the &rdquo;Risks related to our business and industry&rdquo; section, TI faces intense technological and pricing competition in the markets
in which TI operates. TI expects this competition will continue to increase from large competitors and from small competitors serving
niche markets, and also from emerging companies, particularly in Asia, that sell products into the same markets in which TI operates.
Certain competitors possess sufficient financial, technical and management resources to develop and market products that may compete favorably
against TI&rsquo;s products, and consolidation among TI competitors may allow them to compete more effectively. As such, while the development
of innovative new products that result in lower emissions may be a subject of increasing competition, based on the Company&rsquo;s experience,
TI believes the other factors described above play a larger role in the competitive dynamics in TI&rsquo;s business. </B></P>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>increased
                                            demand for generation and transmission of energy from alternative energy sources;</I></B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>As a component
manufacturer of semiconductor products, the demand for generation and transmission of energy from alternative energy sources is not a
risk that is particularly relevant or impactful to the Company&rsquo;s business because the manufacturing of semiconductor components
does not involve the generation or transmission of energy. As such, during the periods covered by the 2021 10-K, TI did not experience
an increased demand for generation and transmission of energy from alternative sources as it relates specifically to TI products or services.
As reported in its Corporate Citizenship Report for 2021, TI has taken a range of actions to reduce emissions, which include the use
of alternative gases and chemicals, installation of emissions abatement devices, the purchase of electricity from renewable energy sources,
the optimization of product manufacturing, shipping and distribution, the avoidance of unnecessary business travel, and the subsidization
of employee commuting at certain sites. TI has also reported a long-term goal by year-end 2025 of a 25% reduction in absolute scope 1
and scope 2 emissions from a 2015 base year, and reported progress by year-end 2021 of an 18.6% reduction of greenhouse gas emissions.
</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>potential
                                            climate-related opportunities, such as the development of semiconductors for use in technologies
                                            with lower energy consumption and greenhouse gas emissions.</I></B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TI considers
the market&rsquo;s increasing development of new technologies with lower energy consumption and lower greenhouse gas emissions, to potentially
alter business opportunities for TI in light of those technologies&rsquo; potential use of semiconductors. In particular, market opportunities
exist and may grow in connection with electric vehicles, solar panels, charging infrastructure, and other such new and alternative technologies.
However, these opportunities are driven by a host of complex factors occurring in a broad and dynamic global context, in which climate
considerations are one of many factors in play. We respectfully refer the Staff to Comment 1 in this letter, which discusses in further
detail the factors supporting this assessment, including timing considerations relating to the adoption of such technologies, advances
needed to support expected demands, potential limiting factors such as the demand for rare earth minerals and the absence of multi-jurisdictional
regulatory mandates, as well as the availability of other clean energy alternatives.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>any
                                            anticipated reputational risk resulting from operations or products that produce material
                                            greenhouse gas emissions. </I></B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TI did not experience
reputational risk resulting from increased attention on operations or products that produce greenhouse gas emissions. We respectfully
refer the Staff to Comment 1 in this letter, which discusses in further detail the factors supporting this assessment, including the
role semiconductors play in helping reduce the impact on the environment, TI&rsquo;s investments in 300-millimeter advanced manufacturing
facilities, how TI gauges its performance and reputation in strategically addressing climate-related issues by engaging with its broad
stakeholder base, and TI&rsquo;s long history of annual sustainability and climate reporting.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>For all the reasons
discussed above in each of the items requested to be addressed by the Staff, during the periods covered by the 2021 10-K, TI believes
it has not experienced any material indirect consequences of climate-related regulation or business trends. Further, TI does not expect
that any such consequences (should they materialize) are reasonably likely to have a material impact to the Company&rsquo;s financial
condition or results of operations. </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TI will continue
to monitor the indirect consequences of climate-related regulation or business trends, and, to the extent material to TI&rsquo;s business,
financial condition or results of operations, TI will disclose such consequences in future SEC filings, as required.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>4. We note your
response to prior comment six. Please further address the following:</I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Include
                                            the quantification requested by our comment on an aggregate basis, rather than for a quantitative
                                            or illustrative example, for each of the periods covered by your Form 10-K and explain whether
                                            increased amounts are expected in future periods. </I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 3pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Clarify
                                            your quantification regarding the cost of insurance premiums and insurance overall in each
                                            of the years 2019, 2020, and 2021. </I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 3pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Your
                                            response indicates that you incurred &quot;$54 million of potentially insurable lost profit
                                            and fixed cost absorption overall relating to missed wafer starts in five fabrication facilities&quot;
                                            as a result of the winter storm in Texas, which was subject to a deductible and not pursued
                                            under an insurance claim. Tell us whether your decision not to pursue an insurance claim
                                            was related to anticipated potential effects on the future cost and/or availability of insurance.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Response</U>:
</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TI acknowledges
the Staff&rsquo;s comment, and confirms that during the periods covered by the 2021 10-K, TI did not experience any physical effects
of climate change that had a material impact to the Company&rsquo;s financial condition or results of operations.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>With respect
to weather-related damages to TI&rsquo;s property or operations, such amounts were estimated to represent less than 2.0% of the Company&rsquo;s
total cost of revenue for each of the years ended December 31, 2021 ($6 billion), 2020 ($5.2 billion), and 2019 ($5.2 billion). Costs
related to any past weather events are not expected to increase significantly in future periods.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>With respect
to the cost or availability of insurance, the cost of insurance premiums were estimated to represent less than 1.0% of the Company&rsquo;s
profit before income taxes for each of the years ended December 31, 2021 ($8.9 billion), 2020 ($6.0 billion), and 2019 ($5.7 billion).
To clarify the Company&rsquo;s quantification regarding the cost of insurance premiums, the aggregate amount spent by TI on insurance
premiums on an annual basis was approximately $29 million in 2019, $32 million in 2020, and $34 million in 2021, as described in Comment
6 of the Company&rsquo;s Initial Response Letter. These items included the cost of premiums as quoted for insurance coverage for certain
items such as property, casualty, and certain other risks. The cost of insurance overall, which includes these premiums, as well as taxes
and certain fees, actually paid, was approximately less than $1 million higher for each year. </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>With respect
to the potentially insurable claims described in Comment 6 of the Company&rsquo;s Initial Response Letter, TI&rsquo;s decision not to
pursue that insurance claim was not related to the anticipated potential effects on the future cost or availability of insurance. It
was a business decision that was driven by a variety of factors, primarily the administrative effort involved in pursuing the claim in
light of the likelihood of recoverability and, if successful, the relatively small net difference between the total estimated insurable
amount of the event and the applicable deductible. </B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>For the reasons
explained in more detail in Comment 6 of the Company&rsquo;s Initial Response Letter, and above, TI does not believe that any weather-related
impacts on the cost or availability of insurance have caused or are reasonably likely to cause a material impact to TI&rsquo;s financial
condition or results of operation. TI will continue to monitor the physical effects of climate change, and in the event TI experiences
any such effects, TI will, in future filings, discuss the material physical effects of climate change on its operations and results,
as required.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>5. Please revise
your response to prior comment seven to quantify your compliance costs related to climate change on an aggregate basis, rather than for
a quantitative example, for each of the periods covered by your Form 10-K.</I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Response</U>:
</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>TI acknowledges
the Staff&rsquo;s comment and notes that TI&rsquo;s total compliance costs related to climate change were estimated to represent less
than 1.0% of the Company&rsquo;s total selling, general, and administrative expenses for each of the years ended December 31, 2021 ($1.7
billion), 2020 ($1.6 billion) and 2019 ($1.6 billion). TI has interpreted &ldquo;compliance costs&rdquo; in this comment letter (and
the Staff&rsquo;s prior Comment 7) to mean the necessary costs incurred to comply with laws and regulations applicable to the Company
with respect to climate change.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>If and when new
laws and regulations related to climate change are enacted, TI will assess the materiality of their impact and whether such impact would
require disclosure under SEC rules and regulations.</B></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
