|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
|
Consolidated Balance Sheets | ||||||
|
(Millions of dollars, except share amounts) | ||||||
|
| ||||||
|
|
December 31, | |||||
|
|
|
2014 |
|
2013 | ||
|
Assets |
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
1,199 |
|
$ |
1,627 |
|
Short-term investments |
|
|
2,342 |
|
|
2,202 |
|
Accounts receivable, net of allowances of ($12) and ($22) |
|
|
1,246 |
|
|
1,203 |
|
Raw materials |
|
|
101 |
|
|
102 |
|
Work in process |
|
|
896 |
|
|
919 |
|
Finished goods |
|
|
787 |
|
|
710 |
|
Inventories |
|
|
1,784 |
|
|
1,731 |
|
Deferred income taxes |
|
|
347 |
|
|
393 |
|
Prepaid expenses and other current assets |
|
|
850 |
|
|
863 |
|
Total current assets |
|
|
7,768 |
|
|
8,019 |
|
Property, plant and equipment at cost |
|
|
6,266 |
|
|
6,556 |
|
Accumulated depreciation |
|
|
(3,426) |
|
|
(3,157) |
|
Property, plant and equipment, net |
|
|
2,840 |
|
|
3,399 |
|
Long-term investments |
|
|
224 |
|
|
216 |
|
Goodwill, net |
|
|
4,362 |
|
|
4,362 |
|
Acquisition-related intangibles, net |
|
|
1,902 |
|
|
2,223 |
|
Deferred income taxes |
|
|
172 |
|
|
207 |
|
Capitalized software licenses, net |
|
|
83 |
|
|
118 |
|
Overfunded retirement plans |
|
|
127 |
|
|
130 |
|
Other assets |
|
|
244 |
|
|
264 |
|
Total assets |
|
$ |
17,722 |
|
$ |
18,938 |
|
|
|
|
|
|
|
|
|
Liabilities and stockholders' equity |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
Current portion of long-term debt |
|
$ |
1,001 |
|
$ |
1,000 |
|
Accounts payable |
|
|
437 |
|
|
422 |
|
Accrued compensation |
|
|
651 |
|
|
554 |
|
Income taxes payable |
|
|
71 |
|
|
119 |
|
Deferred income taxes |
|
|
4 |
|
|
1 |
|
Accrued expenses and other liabilities |
|
|
498 |
|
|
651 |
|
Total current liabilities |
|
|
2,662 |
|
|
2,747 |
|
Long-term debt |
|
|
3,641 |
|
|
4,158 |
|
Underfunded retirement plans |
|
|
225 |
|
|
216 |
|
Deferred income taxes |
|
|
399 |
|
|
548 |
|
Deferred credits and other liabilities |
|
|
405 |
|
|
462 |
|
Total liabilities |
|
|
7,332 |
|
|
8,131 |
|
|
|
|
|
|
|
|
|
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 |
|
|
1,368 |
|
|
1,211 |
|
Retained earnings |
|
|
29,653 |
|
|
28,173 |
|
Treasury common stock at cost. |
|
|
|
|
|
|
|
Shares: 2014 – 694,189,127; 2013 – 658,012,970 |
|
|
(21,840) |
|
|
(19,790) |
|
Accumulated other comprehensive income (loss), net of taxes |
|
|
(532) |
|
|
(528) |
|
Total stockholders' equity |
|
|
10,390 |
|
|
10,807 |
|
Total liabilities and stockholders' equity |
|
$ |
17,722 |
|
$ |
18,938 |
