As required by accounting rule ASC 260, net income allocated to unvested restricted stock units (RSUs), on which we pay dividend equivalents, is excluded from the calculation of EPS. The amount excluded is $13 million and $11 million for the quarters ending September 30, 2014 and 2013.
|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
|
Consolidated Balance Sheets | ||||||
|
(Millions of dollars, except share amounts) | ||||||
|
| ||||||
|
|
|
September 30, | ||||
|
|
|
2014 |
|
2013 | ||
|
Assets |
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
1,306 |
|
$ |
1,435 |
|
Short-term investments |
|
|
1,880 |
|
|
2,158 |
|
Accounts receivable, net of allowances of ($15) and ($29) |
|
|
1,477 |
|
|
1,524 |
|
Raw materials |
|
|
97 |
|
|
107 |
|
Work in process |
|
|
905 |
|
|
954 |
|
Finished goods |
|
|
749 |
|
|
665 |
|
Inventories |
|
|
1,751 |
|
|
1,726 |
|
Deferred income taxes |
|
|
378 |
|
|
461 |
|
Prepaid expenses and other current assets |
|
|
964 |
|
|
797 |
|
Total current assets |
|
|
7,756 |
|
|
8,101 |
|
Property, plant and equipment at cost |
|
|
6,393 |
|
|
6,539 |
|
Accumulated depreciation |
|
|
(3,463) |
|
|
(3,030) |
|
Property, plant and equipment, net |
|
|
2,930 |
|
|
3,509 |
|
Long-term investments |
|
|
219 |
|
|
210 |
|
Goodwill, net |
|
|
4,362 |
|
|
4,362 |
|
Acquisition-related intangibles, net |
|
|
1,982 |
|
|
2,305 |
|
Deferred income taxes |
|
|
177 |
|
|
227 |
|
Capitalized software licenses, net |
|
|
93 |
|
|
139 |
|
Overfunded retirement plans |
|
|
135 |
|
|
119 |
|
Other assets |
|
|
246 |
|
|
272 |
|
Total assets |
|
$ |
17,900 |
|
$ |
19,244 |
|
|
|
|
|
|
|
|
|
Liabilities and stockholders' equity |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
Current portion of long-term debt |
|
$ |
1,002 |
|
$ |
1,000 |
|
Accounts payable |
|
|
393 |
|
|
426 |
|
Accrued compensation |
|
|
613 |
|
|
567 |
|
Income taxes payable |
|
|
106 |
|
|
37 |
|
Deferred income taxes |
|
|
2 |
|
|
2 |
|
Accrued expenses and other liabilities |
|
|
527 |
|
|
691 |
|
Total current liabilities |
|
|
2,643 |
|
|
2,723 |
|
Long-term debt |
|
|
3,643 |
|
|
4,161 |
|
Underfunded retirement plans |
|
|
222 |
|
|
253 |
|
Deferred income taxes |
|
|
450 |
|
|
564 |
|
Deferred credits and other liabilities |
|
|
471 |
|
|
492 |
|
Total liabilities |
|
|
7,429 |
|
|
8,193 |
|
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 |
|
|
1,314 |
|
|
1,125 |
|
Retained earnings |
|
|
29,189 |
|
|
27,993 |
|
Treasury common stock at cost. |
|
|
|
|
|
|
|
Shares: September 30, 2014 – 684,515,992; September 30, 2013 |
|
|
|
|
|
|
|
– 646,252,825 |
|
|
(21,305) |
|
|
(19,236) |
|
Accumulated other comprehensive income (loss), net of taxes |
|
|
(468) |
|
|
(572) |
|
Total stockholders' equity |
|
|
10,471 |
|
|
11,051 |
|
Total liabilities and stockholders' equity |
|
$ |
17,900 |
|
$ |
19,244 |
