TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
Consolidated Balance Sheets | ||||||
(Millions of dollars, except share amounts) | ||||||
|
| ||||||
|
|
| March 31, | ||||
|
|
| 2019 |
| 2018 | ||
Assets |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
| $ | 3,720 |
| $ | 1,717 |
Short-term investments |
|
| 366 |
|
| 2,362 |
Accounts receivable, net of allowances of ($17) and ($8) |
|
| 1,440 |
|
| 1,454 |
Raw materials |
|
| 191 |
|
| 144 |
Work in process |
|
| 1,016 |
|
| 1,076 |
Finished goods |
|
| 924 |
|
| 812 |
Inventories |
|
| 2,131 |
|
| 2,032 |
Prepaid expenses and other current assets |
|
| 294 |
|
| 1,025 |
Total current assets |
|
| 7,951 |
|
| 8,590 |
Property, plant and equipment at cost |
|
| 5,642 |
|
| 4,907 |
Accumulated depreciation |
|
| (2,324) |
|
| (2,171) |
Property, plant and equipment |
|
| 3,318 |
|
| 2,736 |
Long-term investments |
|
| 281 |
|
| 271 |
Goodwill |
|
| 4,362 |
|
| 4,362 |
Acquisition-related intangibles |
|
| 549 |
|
| 866 |
Deferred tax assets |
|
| 290 |
|
| 218 |
Capitalized software licenses |
|
| 98 |
|
| 102 |
Overfunded retirement plans |
|
| 96 |
|
| 215 |
Other long-term assets |
|
| 498 |
|
| 147 |
Total assets |
| $ | 17,443 |
| $ | 17,507 |
|
|
|
|
|
|
|
|
Liabilities and stockholders' equity |
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
| Current portion of long-term debt |
| $ | 750 |
| $ | 500 |
| Accounts payable |
|
| 477 |
|
| 488 |
| Accrued compensation |
|
| 342 |
|
| 344 |
| Income taxes payable |
|
| 113 |
|
| 133 |
| Accrued expenses and other liabilities |
|
| 477 |
|
| 395 |
| Total current liabilities |
|
| 2,159 |
|
| 1,860 |
| Long-term debt |
|
| 5,057 |
|
| 3,578 |
| Underfunded retirement plans |
|
| 120 |
|
| 92 |
| Deferred tax liabilities |
|
| 43 |
|
| 53 |
| Other long-term liabilities |
|
| 1,545 |
|
| 1,282 |
| Total liabilities |
|
| 8,924 |
|
| 6,865 |
| 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 |
|
| 1,927 |
|
| 1,770 |
| Retained earnings |
|
| 38,396 |
|
| 35,619 |
| Treasury common stock at cost |
|
|
|
|
|
|
| Shares: March 31, 2019 – 802,016,668; March 31, 2018 – 759,098,020 |
|
| (33,080) |
|
| (28,096) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) |
|
| (465) |
|
| (392) |
| Total stockholders' equity |
|
| 8,519 |
|
| 10,642 |
| Total liabilities and stockholders' equity |
| $ | 17,443 |
| $ | 17,507 |
