TI reports 3Q17 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




September 30,



2017


2016

Assets







Current assets:







Cash and cash equivalents


$

1,296


$

1,369

Short-term investments



2,148



1,768

Accounts receivable, net of allowances of ($14) and ($14)



1,576



1,447

Raw materials



120



104

Work in process



1,103



949

Finished goods



685



755

Inventories



1,908



1,808

Prepaid expenses and other current assets



1,063



789

Total current assets



7,991



7,181

Property, plant and equipment at cost



4,668



4,982

Accumulated depreciation



(2,101)



(2,437)

Property, plant and equipment, net



2,567



2,545

Long-term investments



258



233

Goodwill, net



4,362



4,362

Acquisition-related intangibles, net



1,025



1,344

Deferred income taxes



414



355

Capitalized software licenses, net



111



50

Overfunded retirement plans



112



64

Other assets



89



82

Total assets


$

16,929


$

16,216








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

499


$

634

Accounts payable



430



428

Accrued compensation



635



647

Income taxes payable



74



68

Accrued expenses and other liabilities



417



393

Total current liabilities



2,055



2,170

Long-term debt



3,084



2,977

Underfunded retirement plans



108



201

Deferred income taxes



38



35

Deferred credits and other liabilities



656



547

Total liabilities



5,941



5,930

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



1,718



1,624

Retained earnings



34,935



32,565

Treasury common stock at cost







Shares: September 30, 2017 – 754,459,144; September 30, 2016 – 739,693,480



(26,901)



(25,102)

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



(505)



(542)

Total stockholders' equity



10,988



10,286

Total liabilities and stockholders' equity


$

16,929


$

16,216


Certain amounts in the prior period have been recast to conform to the current presentation.


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