TI reports 2Q18 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




June 30,



2018


2017

Assets







Current assets:







Cash and cash equivalents


$

2,919


$

1,140

Short-term investments



2,211



1,844

Accounts receivable, net of allowances of ($9) and ($16)



1,551



1,469

Raw materials



155



109

Work in process



1,079



1,099

Finished goods



856



739

Inventories



2,090



1,947

Prepaid expenses and other current assets



821



1,111

Total current assets



9,592



7,511

Property, plant and equipment at cost



5,025



4,656

Accumulated depreciation



(2,170)



(2,142)

Property, plant and equipment



2,855



2,514

Long-term investments



271



250

Goodwill



4,362



4,362

Acquisition-related intangibles



787



1,105

Deferred tax assets



205



412

Capitalized software licenses



101



114

Overfunded retirement plans



205



99

Other long-term assets



149



71

Total assets


$

18,527


$

16,438








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$


$

499

Accounts payable



492



450

Accrued compensation



472



489

Income taxes payable



120



86

Accrued expenses and other liabilities



382



353

Total current liabilities



1,466



1,877

Long-term debt



5,066



3,084

Underfunded retirement plans



82



101

Deferred tax liabilities



50



33

Other long-term liabilities



1,229



635

Total liabilities



7,893



5,730

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



1,867



1,683

Retained earnings



36,413



34,149

Treasury common stock at cost







Shares: June 30, 2018 – 766,450,417; June 30, 2017 – 749,098,850



(29,016)



(26,345)

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



(371)



(520)

Total stockholders' equity



10,634



10,708

Total liabilities and stockholders' equity


$

18,527


$

16,438



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