TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||||
Consolidated Balance Sheets | ||||||
(Millions of dollars, except share amounts) | ||||||
|
| ||||||
|
|
| June 30, | ||||
|
|
| 2019 |
| 2018 | ||
Assets |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
| $ | 3,813 |
| $ | 2,919 |
Short-term investments |
|
| 405 |
|
| 2,211 |
Accounts receivable, net of allowances of ($15) and ($9) |
|
| 1,419 |
|
| 1,551 |
Raw materials |
|
| 176 |
|
| 155 |
Work in process |
|
| 958 |
|
| 1,079 |
Finished goods |
|
| 945 |
|
| 856 |
Inventories |
|
| 2,079 |
|
| 2,090 |
Prepaid expenses and other current assets |
|
| 240 |
|
| 821 |
Total current assets |
|
| 7,956 |
|
| 9,592 |
Property, plant and equipment at cost |
|
| 5,706 |
|
| 5,025 |
Accumulated depreciation |
|
| (2,341) |
|
| (2,170) |
Property, plant and equipment |
|
| 3,365 |
|
| 2,855 |
Long-term investments |
|
| 300 |
|
| 271 |
Goodwill |
|
| 4,362 |
|
| 4,362 |
Acquisition-related intangibles |
|
| 469 |
|
| 787 |
Deferred tax assets |
|
| 261 |
|
| 205 |
Capitalized software licenses |
|
| 88 |
|
| 101 |
Overfunded retirement plans |
|
| 104 |
|
| 205 |
Other long-term assets |
|
| 479 |
|
| 149 |
Total assets |
| $ | 17,384 |
| $ | 18,527 |
|
|
|
|
|
|
|
|
Liabilities and stockholders' equity |
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
| Current portion of long-term debt |
| $ | 1,249 |
| $ | — |
| Accounts payable |
|
| 412 |
|
| 492 |
| Accrued compensation |
|
| 476 |
|
| 472 |
| Income taxes payable |
|
| 87 |
|
| 120 |
| Accrued expenses and other liabilities |
|
| 422 |
|
| 382 |
| Total current liabilities |
|
| 2,646 |
|
| 1,466 |
| Long-term debt |
|
| 4,558 |
|
| 5,066 |
| Underfunded retirement plans |
|
| 121 |
|
| 82 |
| Deferred tax liabilities |
|
| 49 |
|
| 50 |
| Other long-term liabilities |
|
| 1,524 |
|
| 1,229 |
| Total liabilities |
|
| 8,898 |
|
| 7,893 |
| 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 |
|
| 2,003 |
|
| 1,867 |
| Retained earnings |
|
| 38,974 |
|
| 36,413 |
| Treasury common stock at cost |
|
|
|
|
|
|
| Shares: June 30, 2019 – 806,251,136; June 30, 2018 – 766,450,417 |
|
| (33,775) |
|
| (29,016) |
| Accumulated other comprehensive income (loss), net of taxes (AOCI) |
|
| (457) |
|
| (371) |
| Total stockholders' equity |
|
| 8,486 |
|
| 10,634 |
| Total liabilities and stockholders' equity |
| $ | 17,384 |
| $ | 18,527 |
