TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)

December 31,

2017

2016

Assets

Current assets:

Cash and cash equivalents

$

1,656

$

1,154

Short-term investments

2,813

2,336

Accounts receivable, net of allowances of ($8) and ($17)

1,278

1,267

Raw materials

126

102

Work in process

1,089

954

Finished goods

742

734

Inventories

1,957

1,790

Prepaid expenses and other current assets

1,030

910

Total current assets

8,734

7,457

Property, plant and equipment at cost

4,789

4,923

Accumulated depreciation

(2,125)

(2,411)

Property, plant and equipment, net

2,664

2,512

Long-term investments

268

235

Goodwill

4,362

4,362

Acquisition-related intangibles

946

1,264

Deferred tax assets

264

374

Capitalized software licenses

110

52

Overfunded retirement plans

208

96

Other assets

86

79

Total assets

$

17,642

$

16,431

Liabilities and stockholders' equity

Current liabilities:

Current portion of long-term debt

$

500

$

631

Accounts payable

466

396

Accrued compensation

722

710

Income taxes payable

128

83

Accrued expenses and other liabilities

442

444

Total current liabilities

2,258

2,264

Long-term debt

3,577

2,978

Underfunded retirement plans

89

129

Deferred tax liabilities

78

33

Deferred credits and other liabilities

1,303

554

Total liabilities

7,305

5,958

Stockholders' equity:

Preferred stock, $25 par value. Authorized – 10,000,000 shares

Participating cumulative preferred – None issued

—

—

Common stock, $1 par value. Authorized – 2,400,000,000 shares

Shares issued – 1,740,815,939

1,741

1,741

Paid-in capital

1,776

1,674

Retained earnings

34,662

33,107

Treasury common stock at cost

Shares: 2017 – 757,657,217; 2016 – 744,831,978

(27,458)

(25,523)

Accumulated other comprehensive income (loss), net of taxes (AOCI)

(384)

(526)

Total stockholders' equity

10,337

10,473

Total liabilities and stockholders' equity

$

17,642

$

16,431