TI reports 1Q18 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




March 31,



2018


2017

Assets







Current assets:







Cash and cash equivalents


$

1,717


$

1,073

Short-term investments



2,362



1,976

Accounts receivable, net of allowances of ($8) and ($11)



1,454



1,337

Raw materials



144



102

Work in process



1,076



1,017

Finished goods



812



724

Inventories



2,032



1,843

Prepaid expenses and other current assets



1,025



811

Total current assets



8,590



7,040

Property, plant and equipment at cost



4,907



4,833

Accumulated depreciation



(2,171)



(2,332)

Property, plant and equipment



2,736



2,501

Long-term investments



271



241

Goodwill



4,362



4,362

Acquisition-related intangibles



866



1,184

Deferred tax assets



218



361

Capitalized software licenses



102



116

Overfunded retirement plans



215



102

Other long-term assets



147



71

Total assets


$

17,507


$

15,978








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

500


$

378

Accounts payable



488



429

Accrued compensation



344



352

Income taxes payable



133



77

Accrued expenses and other liabilities



395



366

Total current liabilities



1,860



1,602

Long-term debt



3,578



2,980

Underfunded retirement plans



92



97

Deferred tax liabilities



53



36

Other long-term liabilities



1,282



624

Total liabilities



6,865



5,339

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



1,770



1,597

Retained earnings



35,619



33,595

Treasury common stock at cost







Shares: March 31, 2018 – 759,098,020; March 31, 2017 – 743,085,976



(28,096)



(25,767)

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



(392)



(527)

Total stockholders' equity



10,642



10,639

Total liabilities and stockholders' equity


$

17,507


$

15,978


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