TI reports 1Q17 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




March 31,



2017


2016

Assets







Current assets:







Cash and cash equivalents


$

1,073


$

1,281

Short-term investments



1,976



1,519

Accounts receivable, net of allowances of ($11) and ($11)



1,337



1,269

Raw materials



102



105

Work in process



1,017



888

Finished goods



724



812

Inventories



1,843



1,805

Prepaid expenses and other current assets



811



785

Total current assets



7,040



6,659

Property, plant and equipment at cost



4,833



5,290

Accumulated depreciation



(2,332)



(2,736)

Property, plant and equipment, net



2,501



2,554

Long-term investments



241



220

Goodwill, net



4,362



4,362

Acquisition-related intangibles, net



1,184



1,503

Deferred income taxes



361



175

Capitalized software licenses, net



116



53

Overfunded retirement plans



102



84

Other assets



71



76

Total assets


$

15,978


$

15,686








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

378


$

1,249

Accounts payable



429



387

Accrued compensation



352



340

Income taxes payable



77



67

Accrued expenses and other liabilities



366



377

Total current liabilities



1,602



2,420

Long-term debt



2,980



2,869

Underfunded retirement plans



97



195

Deferred income taxes



36



38

Deferred credits and other liabilities



624



382

Total liabilities



5,339



5,904

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



1,597



1,515

Retained earnings



33,595



31,500

Treasury common stock at cost







Shares: March 31, 2017 – 743,085,976; March 31, 2016 – 734,244,179



(25,767)



(24,443)

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



(527)



(531)

Total stockholders' equity



10,639



9,782

Total liabilities and stockholders' equity


$

15,978


$

15,686


Certain amounts in the prior period have been recast to conform to the current presentation.


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