TI reports 3Q16 financial results and shareholder returns, including 32% dividend increase

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




September 30,



2016


2015

Assets







Current assets:







Cash and cash equivalents


$

1,369


$

1,133

Short-term investments



1,768



1,602

Accounts receivable, net of allowances of ($14) and ($16)



1,447



1,481

Raw materials



104



108

Work in process



949



913

Finished goods



755



750

Inventories



1,808



1,771

Prepaid expenses and other current assets



789



945

Total current assets



7,181



6,932

Property, plant and equipment at cost



4,982



5,742

Accumulated depreciation



(2,437)



(3,113)

Property, plant and equipment, net



2,545



2,629

Long-term investments



233



216

Goodwill, net



4,362



4,362

Acquisition-related intangibles, net



1,344



1,662

Deferred income taxes



355



247

Capitalized software licenses, net



50



54

Overfunded retirement plans



64



76

Other assets



82



81

Total assets


$

16,216


$

16,259








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

634


$

1,000

Accounts payable



428



367

Accrued compensation



647



615

Income taxes payable



68



84

Accrued expenses and other liabilities



393



431

Total current liabilities



2,170



2,497

Long-term debt



2,977



3,121

Underfunded retirement plans



201



247

Deferred income taxes



35



41

Deferred credits and other liabilities



547



383

Total liabilities



5,930



6,289

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



1,757



1,562

Retained earnings



32,432



30,731

Treasury common stock at cost







Shares: September 30, 2016 – 739,693,480; September 30, 2015 – 721,186,352



(25,102)



(23,551)

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



(542)



(513)

Total stockholders' equity



10,286



9,970

Total liabilities and stockholders' equity


$

16,216


$

16,259


Certain amounts in the prior period's balance sheet have been reclassified to conform to the current presentation.


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