TI reports 3Q18 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




September 30,



2018


2017

Assets







Current assets:







Cash and cash equivalents


$

1,502


$

1,296

Short-term investments



3,611



2,148

Accounts receivable, net of allowances of ($13) and ($14)



1,585



1,576

Raw materials



171



120

Work in process



1,058



1,103

Finished goods



887



685

Inventories



2,116



1,908

Prepaid expenses and other current assets



654



1,063

Total current assets



9,468



7,991

Property, plant and equipment at cost



5,250



4,668

Accumulated depreciation



(2,199)



(2,101)

Property, plant and equipment



3,051



2,567

Long-term investments



278



258

Goodwill



4,362



4,362

Acquisition-related intangibles



707



1,025

Deferred tax assets



243



414

Capitalized software licenses



94



111

Overfunded retirement plans



220



112

Other long-term assets



150



89

Total assets


$

18,573


$

16,929








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

749


$

499

Accounts payable



492



430

Accrued compensation



613



635

Income taxes payable



104



74

Accrued expenses and other liabilities



424



417

Total current liabilities



2,382



2,055

Long-term debt



4,318



3,084

Underfunded retirement plans



86



108

Deferred tax liabilities



43



38

Other long-term liabilities



1,228



656

Total liabilities



8,057



5,941

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



1,918



1,718

Retained earnings



37,378



34,935

Treasury common stock at cost







Shares: September 30, 2018 – 775,952,837; September 30, 2017 – 754,459,144



(30,167)



(26,901)

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



(354)



(505)

Total stockholders' equity



10,516



10,988

Total liabilities and stockholders' equity


$

18,573


$

16,929



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