TI reports second quarter 2024 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Balance Sheets


June 30,

(In millions, except par value)


2024


2023

Assets







Current assets:







   Cash and cash equivalents


$

2,740


$

3,439

   Short-term investments



6,948



6,113

   Accounts receivable, net of allowances of ($28) and ($16)



1,711



1,956

   Raw materials



405



388

   Work in process



2,072



2,110

   Finished goods



1,629



1,231

   Inventories



4,106



3,729

   Prepaid expenses and other current assets



1,284



277

   Total current assets



16,789



15,514

Property, plant and equipment at cost



14,622



11,664

   Accumulated depreciation



(3,448)



(3,139)

   Property, plant and equipment



11,174



8,525

Goodwill



4,362



4,362

Deferred tax assets



905



537

Capitalized software licenses



230



143

Overfunded retirement plans



167



183

Other long-term assets



1,421



1,675

Total assets


$

35,048


$

30,939








Liabilities and stockholders' equity







Current liabilities:







   Current portion of long-term debt


$

1,049


$

299

   Accounts payable



858



923

   Accrued compensation



569



561

   Income taxes payable



178



121

   Accrued expenses and other liabilities



983



807

   Total current liabilities



3,637



2,711

Long-term debt



12,842



10,920

Underfunded retirement plans



113



127

Deferred tax liabilities



55



69

Other long-term liabilities



1,187



1,172

Total liabilities



17,834



14,999

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



3,666



3,163

   Retained earnings



52,135



51,522

   Treasury common stock at cost







   Shares: June 30, 2024 – 828; June 30, 2023 – 833



(40,128)



(40,240)

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



(200)



(246)

Total stockholders' equity



17,214



15,940

Total liabilities and stockholders' equity


$

35,048


$

30,939


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