TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

June 30,

(In millions, except par value)

2022

2021

Assets

Current assets:

 Cash and cash equivalents

$

3,802

$

3,649

 Short-term investments

4,585

3,741

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

2,190

1,591

Raw materials

305

201

Work in process

1,258

996

Finished goods

636

659

 Inventories

2,199

1,856

 Prepaid expenses and other current assets

267

340

 Total current assets

13,043

11,177

Property, plant and equipment at cost

8,825

6,235

 Accumulated depreciation

(2,894)

(2,557)

 Property, plant and equipment

5,931

3,678

Goodwill

4,362

4,362

Deferred tax assets

293

326

Capitalized software licenses

82

99

Overfunded retirement plans

296

254

Other long-term assets

716

707

Total assets

$

24,723

$

20,603

Liabilities and stockholders' equity

Current liabilities:

 Current portion of long-term debt

$

499

$

499

 Accounts payable

712

577

 Accrued compensation

520

531

 Income taxes payable

115

107

 Accrued expenses and other liabilities

714

487

 Total current liabilities

2,560

2,201

Long-term debt

6,745

5,752

Underfunded retirement plans

71

131

Deferred tax liabilities

90

87

Other long-term liabilities

1,165

1,279

Total liabilities

10,631

9,450

Stockholders' equity:

 Preferred stock, $25 par value. Shares authorized – 10; none issued

—

—

 Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741

1,741

1,741

 Paid-in capital

2,783

2,485

 Retained earnings

48,280

43,846

 Treasury common stock at cost

Shares: June 30, 2022 – 826; June 30, 2021 – 818

(38,532)

(36,596)

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

(180)

(323)

Total stockholders' equity

14,092

11,153

Total liabilities and stockholders' equity

$

24,723

$

20,603

Certain amounts in the prior period's balance sheet have been reclassified to conform to the current presentation.