TI reports Q4 2019 and 2019 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)



December 31,


2019


2018

Assets






Current assets:






Cash and cash equivalents

$

2,437



$

2,438


Short-term investments

2,950



1,795


Accounts receivable, net of allowances of ($8) and ($19)

1,074



1,207


Raw materials

176



181


Work in process

916



1,070


Finished goods

909



966


Inventories

2,001



2,217


Prepaid expenses and other current assets

299



440


Total current assets

8,761



8,097


Property, plant and equipment at cost

5,740



5,425


Accumulated depreciation

(2,437)



(2,242)


Property, plant and equipment

3,303



3,183


Long-term investments

300



251


Goodwill

4,362



4,362


Acquisition-related intangibles

340



628


Deferred tax assets

197



295


Capitalized software licenses

69



89


Overfunded retirement plans

218



92


Other long-term assets

468



140


Total assets

$

18,018



$

17,137








Liabilities and stockholders' equity






Current liabilities:






Current portion of long-term debt

$

500



$

749


Accounts payable

388



478


Accrued compensation

714



724


Income taxes payable

46



103


Accrued expenses and other liabilities

475



420


Total current liabilities

2,123



2,474


Long-term debt

5,303



4,319


Underfunded retirement plans

93



118


Deferred tax liabilities

78



42


Other long-term liabilities

1,514



1,190


Total liabilities

9,111



8,143


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

2,110



1,950


Retained earnings

39,898



37,906


Treasury common stock at cost






Shares: 2019 – 808,784,381; 2018 – 795,665,646

(34,495)



(32,130)


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

(347)



(473)


Total stockholders' equity

8,907



8,994


Total liabilities and stockholders' equity

$

18,018



$

17,137



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