TI reports third quarter 2023 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Balance Sheets


September 30,

(In millions, except par value)


2023


2022

Assets





Current assets:







   Cash and cash equivalents


$

2,566


$

3,169

   Short-term investments



6,382



5,921

   Accounts receivable, net of allowances of ($15) and ($10)



1,976



2,040

   Raw materials



401



333

   Work in process



2,147



1,347

   Finished goods



1,360



724

   Inventories



3,908



2,404

   Prepaid expenses and other current assets



265



238

   Total current assets



15,097



13,772

Property, plant and equipment at cost



12,528



9,491

   Accumulated depreciation



(3,208)



(3,006)

   Property, plant and equipment



9,320



6,485

Goodwill



4,362



4,362

Deferred tax assets



632



291

Capitalized software licenses



138



75

Overfunded retirement plans



166



273

Other long-term assets



1,923



799

Total assets


$

31,638


$

26,057








Liabilities and stockholders' equity







Current liabilities:







   Current portion of long-term debt


$

300


$

499

   Accounts payable



713



780

   Accrued compensation



707



662

   Income taxes payable



108



123

   Accrued expenses and other liabilities



824



734

   Total current liabilities



2,652



2,798

Long-term debt



10,922



7,438

Underfunded retirement plans



141



69

Deferred tax liabilities



66



92

Other long-term liabilities



1,226



1,153

Total liabilities



15,007



11,550

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



3,280



2,877

   Retained earnings



52,098



49,519

   Treasury common stock at cost







   Shares: September 30, 2023 – 833; September 30, 2022 – 831



(40,253)



(39,476)

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



(235)



(154)

Total stockholders' equity



16,631



14,507

Total liabilities and stockholders' equity


$

31,638


$

26,057


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