TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

June 30,

(Millions of dollars, except share amounts)

2021

2020

Assets

Current assets:

Cash and cash equivalents

$

3,649

$

4,294

Short-term investments

3,741

666

Accounts receivable, net of allowances of ($9) and ($9)

1,591

1,176

Raw materials

201

182

Work in process

996

977

Finished goods

659

977

Inventories

1,856

2,136

Prepaid expenses and other current assets

340

216

Total current assets

11,177

8,488

Property, plant and equipment at cost

6,235

5,741

Accumulated depreciation

(2,557)

(2,540)

Property, plant and equipment

3,678

3,201

Goodwill

4,362

4,362

Acquisition-related intangibles

57

240

Deferred tax assets

326

236

Capitalized software licenses

99

141

Overfunded retirement plans

254

223

Other long-term assets

650

554

Total assets

$

20,603

$

17,445

Liabilities and stockholders' equity

Current liabilities:

Current portion of long-term debt

$

499

$

551

Accounts payable

587

409

Accrued compensation

531

505

Income taxes payable

107

179

Accrued expenses and other liabilities

477

519

Total current liabilities

2,201

2,163

Long-term debt

5,752

6,245

Underfunded retirement plans

131

99

Deferred tax liabilities

87

60

Other long-term liabilities

1,279

1,234

Total liabilities

9,450

9,801

Stockholders' equity:

Preferred stock, $25 par value. Authorized – 10,000,000 shares; 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

2,485

2,182

Retained earnings

43,846

40,780

Treasury common stock at cost

Shares: June 30, 2021 – 817,729,258; June 30, 2020 – 825,225,307

(36,596)

(36,725)

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

(323)

(334)

Total stockholders' equity

11,153

7,644

Total liabilities and stockholders' equity

$

20,603

$

17,445