TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | |||||||||||
Consolidated Balance Sheets | |||||||||||
(Millions of dollars, except share amounts) | |||||||||||
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| September 30, | ||||||||||
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| 2019 |
| 2018 | ||||||||
Assets |
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Current assets: |
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Cash and cash equivalents | $ | 3,893 |
| $ | 1,502 | ||||||
Short-term investments | 1,174 |
| 3,611 | ||||||||
Accounts receivable, net of allowances of ($13) and ($13) | 1,342 |
| 1,585 | ||||||||
Raw materials | 175 |
| 171 | ||||||||
Work in process | 955 |
| 1,058 | ||||||||
Finished goods | 910 |
| 887 | ||||||||
Inventories | 2,040 |
| 2,116 | ||||||||
Prepaid expenses and other current assets | 264 |
| 654 | ||||||||
Total current assets | 8,713 |
| 9,468 | ||||||||
Property, plant and equipment at cost | 5,683 |
| 5,250 | ||||||||
Accumulated depreciation | (2,365) |
| (2,199) | ||||||||
Property, plant and equipment | 3,318 |
| 3,051 | ||||||||
Long-term investments | 298 |
| 278 | ||||||||
Goodwill | 4,362 |
| 4,362 | ||||||||
Acquisition-related intangibles | 390 |
| 707 | ||||||||
Deferred tax assets | 257 |
| 243 | ||||||||
Capitalized software licenses | 77 |
| 94 | ||||||||
Overfunded retirement plans | 106 |
| 220 | ||||||||
Other long-term assets | 471 |
| 150 | ||||||||
Total assets | $ | 17,992 |
| $ | 18,573 | ||||||
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Liabilities and stockholders' equity |
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Current liabilities: |
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Current portion of long-term debt | $ | 499 |
| $ | 749 | ||||||
Accounts payable | 397 |
| 492 | ||||||||
| Accrued compensation | 609 |
| 613 | ||||||||
| Income taxes payable | 58 |
| 104 | ||||||||
| Accrued expenses and other liabilities | 444 |
| 424 | ||||||||
| Total current liabilities | 2,007 |
| 2,382 | ||||||||
| Long-term debt | 5,302 |
| 4,318 | ||||||||
| Underfunded retirement plans | 123 |
| 86 | ||||||||
| Deferred tax liabilities | 49 |
| 43 | ||||||||
| Other long-term liabilities | 1,526 |
| 1,228 | ||||||||
| Total liabilities | 9,007 |
| 8,057 | ||||||||
| Stockholders' equity: |
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| Preferred stock, $25 par value. Authorized – 10,000,000 shares |
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| Participating cumulative preferred – None issued | — |
| — | ||||||||
| Common stock, $1 par value. Authorized – 2,400,000,000 shares |
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| Shares issued – 1,740,815,939 | 1,741 |
| 1,741 | ||||||||
| Paid-in capital | 2,058 |
| 1,918 | ||||||||
| Retained earnings | 39,674 |
| 37,378 | ||||||||
| Treasury common stock at cost |
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| Shares: September 30, 2019 – 805,637,804; September 30, 2018 – 775,952,837 | (34,045) |
| (30,167) | ||||||||
| Accumulated other comprehensive income (loss), net of taxes (AOCI) | (443) |
| (354) | ||||||||
| Total stockholders' equity | 8,985 |
| 10,516 | ||||||||
| Total liabilities and stockholders' equity | $ | 17,992 |
| $ | 18,573 | ||||||
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TI reports third quarter 2019 financial results and shareholder returns
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