TI reports 2Q17 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




June 30,



2017


2016

Assets







Current assets:







Cash and cash equivalents


$

1,140


$

1,235

Short-term investments



1,844



1,304

Accounts receivable, net of allowances of ($16) and ($20)



1,469



1,348

Raw materials



109



104

Work in process



1,099



946

Finished goods



739



826

Inventories



1,947



1,876

Prepaid expenses and other current assets



1,111



926

Total current assets



7,511



6,689

Property, plant and equipment at cost



4,656



5,152

Accumulated depreciation



(2,142)



(2,595)

Property, plant and equipment, net



2,514



2,557

Long-term investments



250



224

Goodwill, net



4,362



4,362

Acquisition-related intangibles, net



1,105



1,424

Deferred income taxes



412



231

Capitalized software licenses, net



114



52

Overfunded retirement plans



99



85

Other assets



71



69

Total assets


$

16,438


$

15,693








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

499


$

637

Accounts payable



450



416

Accrued compensation



489



493

Income taxes payable



86



58

Accrued expenses and other liabilities



353



387

Total current liabilities



1,877



1,991

Long-term debt



3,084



2,975

Underfunded retirement plans



101



193

Deferred income taxes



33



40

Deferred credits and other liabilities



635



532

Total liabilities



5,730



5,731

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



1,683



1,598

Retained earnings



34,149



31,933

Treasury common stock at cost







Shares: June 30, 2017 – 749,098,850; June 30, 2016 – 737,467,669



(26,345)



(24,774)

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



(520)



(536)

Total stockholders' equity



10,708



9,962

Total liabilities and stockholders' equity


$

16,438


$

15,693


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



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