TI reports 4Q17 and 2017 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




December 31,



2017


2016

Assets







Current assets:







Cash and cash equivalents


$

1,656


$

1,154

Short-term investments



2,813



2,336

Accounts receivable, net of allowances of ($8) and ($17)



1,278



1,267

Raw materials



126



102

Work in process



1,089



954

Finished goods



742



734

Inventories



1,957



1,790

Prepaid expenses and other current assets



1,030



910

Total current assets



8,734



7,457

Property, plant and equipment at cost



4,789



4,923

Accumulated depreciation



(2,125)



(2,411)

Property, plant and equipment, net



2,664



2,512

Long-term investments



268



235

Goodwill



4,362



4,362

Acquisition-related intangibles



946



1,264

Deferred tax assets



264



374

Capitalized software licenses



110



52

Overfunded retirement plans



208



96

Other assets



86



79

Total assets


$

17,642


$

16,431








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

500


$

631

Accounts payable



466



396

Accrued compensation



722



710

Income taxes payable



128



83

Accrued expenses and other liabilities



442



444

Total current liabilities



2,258



2,264

Long-term debt



3,577



2,978

Underfunded retirement plans



89



129

Deferred tax liabilities



78



33

Deferred credits and other liabilities



1,303



554

Total liabilities



7,305



5,958

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



1,776



1,674

Retained earnings



34,662



33,107

Treasury common stock at cost







Shares: 2017 – 757,657,217; 2016 – 744,831,978



(27,458)



(25,523)

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



(384)



(526)

Total stockholders' equity



10,337



10,473

Total liabilities and stockholders' equity


$

17,642


$

16,431


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