|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
|
Consolidated Balance Sheets | ||||||
|
(Millions of dollars, except share amounts) | ||||||
|
| ||||||
|
|
|
December 31, | ||||
|
|
|
2016 |
|
2015 | ||
|
Assets |
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
1,154 |
|
$ |
1,000 |
|
Short-term investments |
|
|
2,336 |
|
|
2,218 |
|
Accounts receivable, net of allowances of ($17) and ($7) |
|
|
1,267 |
|
|
1,165 |
|
Raw materials |
|
|
102 |
|
|
109 |
|
Work in process |
|
|
954 |
|
|
846 |
|
Finished goods |
|
|
734 |
|
|
736 |
|
Inventories |
|
|
1,790 |
|
|
1,691 |
|
Prepaid expenses and other current assets |
|
|
910 |
|
|
1,000 |
|
Total current assets |
|
|
7,457 |
|
|
7,074 |
|
Property, plant and equipment at cost |
|
|
4,923 |
|
|
5,465 |
|
Accumulated depreciation |
|
|
(2,411) |
|
|
(2,869) |
|
Property, plant and equipment, net |
|
|
2,512 |
|
|
2,596 |
|
Long-term investments |
|
|
235 |
|
|
221 |
|
Goodwill, net |
|
|
4,362 |
|
|
4,362 |
|
Acquisition-related intangibles, net |
|
|
1,264 |
|
|
1,583 |
|
Deferred income taxes |
|
|
374 |
|
|
201 |
|
Capitalized software licenses, net |
|
|
52 |
|
|
46 |
|
Overfunded retirement plans |
|
|
96 |
|
|
85 |
|
Other assets |
|
|
79 |
|
|
62 |
|
Total assets |
|
$ |
16,431 |
|
$ |
16,230 |
|
|
|
|
|
|
|
|
|
Liabilities and stockholders' equity |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
Current portion of long-term debt |
|
$ |
631 |
|
$ |
1,000 |
|
Accounts payable |
|
|
396 |
|
|
386 |
|
Accrued compensation |
|
|
710 |
|
|
664 |
|
Income taxes payable |
|
|
83 |
|
|
95 |
|
Accrued expenses and other liabilities |
|
|
444 |
|
|
410 |
|
Total current liabilities |
|
|
2,264 |
|
|
2,555 |
|
Long-term debt |
|
|
2,978 |
|
|
3,120 |
|
Underfunded retirement plans |
|
|
129 |
|
|
196 |
|
Deferred income taxes |
|
|
33 |
|
|
37 |
|
Deferred credits and other liabilities |
|
|
554 |
|
|
376 |
|
Total liabilities |
|
|
5,958 |
|
|
6,284 |
|
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 |
|
|
1,674 |
|
|
1,629 |
|
Retained earnings |
|
|
33,107 |
|
|
31,176 |
|
Treasury common stock at cost |
|
|
|
|
|
|
|
Shares: 2016 – 744,831,978; 2015 – 729,547,527 |
|
|
(25,523) |
|
|
(24,068) |
|
Accumulated other comprehensive income (loss), net of taxes (AOCI) |
|
|
(526) |
|
|
(532) |
|
Total stockholders' equity |
|
|
10,473 |
|
|
9,946 |
|
Total liabilities and stockholders' equity |
|
$ |
16,431 |
|
$ |
16,230 |
