TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)

Mar. 31, 2014

Mar. 31, 2013

Assets

Current assets:

    Cash and cash equivalents

$         1,565

$           1,393

    Short-term investments

2,467

2,469

    Accounts receivable, net of allowances of ($23) and ($26)

1,355

1,333

    Raw materials

95

99

    Work in process

898

930

    Finished goods

721

671

    Inventories

1,714

1,700

    Deferred income taxes

383

469

    Prepaid expenses and other current assets

876

841

    Total current assets

8,360

8,205

Property, plant and equipment at cost

6,426

6,773

    Accumulated depreciation

(3,247)

(3,034)

    Property, plant and equipment, net

3,179

3,739

Long-term investments

212

204

Goodwill, net

4,362

4,362

Acquisition-related intangibles, net

2,142

2,473

Deferred income taxes

200

264

Capitalized software licenses, net

111

169

Overfunded retirement plans

129

62

Other assets

240

223

Total assets

$       18,935

$         19,701

Liabilities and Stockholders' Equity

Current liabilities:

    Current portion of long-term debt

$         1,000

$           1,500

    Accounts payable

405

440

    Accrued compensation

364

365

    Income taxes payable

101

109

    Deferred income taxes

1

2

    Accrued expenses and other liabilities

600

694

    Total current liabilities

2,471

3,110

Long-term debt

4,652

4,183

Underfunded retirement plans

218

258

Deferred income taxes

536

598

Deferred credits and other liabilities

438

600

Total liabilities

8,315

8,749

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

1,181

1,049

    Retained earnings

28,331

27,330

    Treasury common stock at cost.

        Shares: Mar. 31, 2014 – 661,464,745; Mar. 31, 2013 –

        631,661,551

(20,113)

(18,518)

    Accumulated other comprehensive income (loss), net of taxes

(520)

(650)

    Total stockholders' equity

10,620

10,952

Total liabilities and stockholders' equity

$     18,935

$       19,701