TI reports third quarter 2021 financial results and shareholder returns

 


TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Balance Sheets


September 30,

(Millions of dollars, except share amounts)


2021


2020

Assets





Current assets:





Cash and cash equivalents


$

5,663


$

2,822

Short-term investments


4,119


2,696

Accounts receivable, net of allowances of ($9) and ($12)


1,653


1,392

Raw materials


224


192

Work in process


1,034


959

Finished goods


605


921

Inventories


1,863


2,072

Prepaid expenses and other current assets


287


277

Total current assets


13,585


9,259

Property, plant and equipment at cost


6,661


5,698

Accumulated depreciation


(2,640)


(2,508)

Property, plant and equipment


4,021


3,190

Goodwill


4,362


4,362

Acquisition-related intangibles


9


189

Deferred tax assets


309


299

Capitalized software licenses


88


133

Overfunded retirement plans


252


227

Other long-term assets


647


548

Total assets


$

23,273


$

18,207






Liabilities and stockholders' equity





Current liabilities:





Current portion of long-term debt


$

500


$

550

Accounts payable


596


411

Accrued compensation


665


656

Income taxes payable


101


44

Accrued expenses and other liabilities


551


524

Total current liabilities


2,413


2,185

Long-term debt


7,239


6,247

Underfunded retirement plans


129


103

Deferred tax liabilities


86


69

Other long-term liabilities


1,255


1,278

Total liabilities


11,122


9,882

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


2,563


2,257

Retained earnings


44,847


41,305

Treasury common stock at cost





Shares: September 30, 2021 – 817,400,928; September 30, 2020 – 823,174,578


(36,687)


(36,643)

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


(313)


(335)

Total stockholders' equity


12,151


8,325

Total liabilities and stockholders' equity


$

23,273


$

18,207


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