TI reports third quarter 2019 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)



September 30,


2019


2018

Assets




Current assets:




Cash and cash equivalents

$

3,893


$

1,502

Short-term investments

1,174


3,611

Accounts receivable, net of allowances of ($13) and ($13)

1,342


1,585

Raw materials

175


171

Work in process

955


1,058

Finished goods

910


887

Inventories

2,040


2,116

Prepaid expenses and other current assets

264


654

Total current assets

8,713


9,468

Property, plant and equipment at cost

5,683


5,250

Accumulated depreciation

(2,365)


(2,199)

Property, plant and equipment

3,318


3,051

Long-term investments

298


278

Goodwill

4,362


4,362

Acquisition-related intangibles

390


707

Deferred tax assets

257


243

Capitalized software licenses

77


94

Overfunded retirement plans

106


220

Other long-term assets

471


150

Total assets

$

17,992


$

18,573





Liabilities and stockholders' equity




Current liabilities:




Current portion of long-term debt

$

499


$

749

Accounts payable

397


492

Accrued compensation

609


613

Income taxes payable

58


104

Accrued expenses and other liabilities

444


424

Total current liabilities

2,007


2,382

Long-term debt

5,302


4,318

Underfunded retirement plans

123


86

Deferred tax liabilities

49


43

Other long-term liabilities

1,526


1,228

Total liabilities

9,007


8,057

Stockholders' equity:




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




Participating cumulative preferred – 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

2,058


1,918

Retained earnings

39,674


37,378

Treasury common stock at cost




Shares: September 30, 2019 – 805,637,804; September 30, 2018 – 775,952,837

(34,045)


(30,167)

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

(443)


(354)

Total stockholders' equity

8,985


10,516

Total liabilities and stockholders' equity

$

17,992


$

18,573


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