TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)

September 30,

2019

2018

Assets

Current assets:

Cash and cash equivalents

$

3,893

$

1,502

Short-term investments

1,174

3,611

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

1,342

1,585

Raw materials

175

171

Work in process

955

1,058

Finished goods

887

Inventories

2,040

2,116

Prepaid expenses and other current assets

264

654

Total current assets

8,713

9,468

Property, plant and equipment at cost

5,683

5,250

Accumulated depreciation

(2,199)

Property, plant and equipment

3,318

3,051

Long-term investments

298

278

Goodwill

4,362

4,362

Acquisition-related intangibles

390

707

Deferred tax assets

257

243

Capitalized software licenses

77

94

Overfunded retirement plans

106

220

Other long-term assets

471

150

Total assets

$

17,992

$

18,573

Liabilities and stockholders' equity

Current liabilities:

Current portion of long-term debt

$

499

$

749

Accounts payable

397

492

Accrued compensation

609

613

Income taxes payable

58

104

Accrued expenses and other liabilities

444

424

Total current liabilities

2,007

2,382

Long-term debt

5,302

4,318

Underfunded retirement plans

123

86

Deferred tax liabilities

49

43

Other long-term liabilities

1,526

1,228

Total liabilities

9,007

8,057

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

2,058

1,918

Retained earnings

39,674

37,378

Treasury common stock at cost

Shares: September 30, 2019 – 805,637,804; September 30, 2018 – 775,952,837

(34,045)

(30,167)

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

(443)

(354)

Total stockholders' equity

8,985

10,516

Total liabilities and stockholders' equity

$

17,992

$

18,573