TI reports Q4 2020 and 2020 financial results and shareholder returns

 

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)



December 31,


2020


2019

Assets




Current assets:




Cash and cash equivalents

$

3,107


$

2,437

Short-term investments

3,461


2,950

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

1,414


1,074

Raw materials

180


176

Work in process

964


916

Finished goods

811


909

Inventories

1,955


2,001

Prepaid expenses and other current assets

302


299

Total current assets

10,239


8,761

Property, plant and equipment at cost

5,781


5,740

Accumulated depreciation

(2,512)


(2,437)

Property, plant and equipment

3,269


3,303

Long-term investments

49


300

Goodwill

4,362


4,362

Acquisition-related intangibles

152


340

Deferred tax assets

343


197

Capitalized software licenses

122


69

Overfunded retirement plans

246


218

Other long-term assets

569


468

Total assets

$

19,351


$

18,018







Liabilities and stockholders' equity




Current liabilities:




Current portion of long-term debt

$

550


$

500

Accounts payable

415


388

Accrued compensation

767


714

Income taxes payable

134


46

Accrued expenses and other liabilities

524


475

Total current liabilities

2,390


2,123

Long-term debt

6,248


5,303

Underfunded retirement plans

131


93

Deferred tax liabilities

90


78

Other long-term liabilities

1,305


1,514

Total liabilities

10,164


9,111

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

2,333


2,110

Retained earnings

42,051


39,898

Treasury common stock at cost




Shares: 2020 – 821,461,787; 2019 – 808,784,381

(36,578)


(34,495)

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

(360)


(347)

Total stockholders' equity

9,187


8,907

Total liabilities and stockholders' equity

$

19,351


$

18,018


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