TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES |
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Consolidated Balance Sheets |
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| March 31, |
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(In millions, except par value) |
| 2022 |
| 2021 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
| $ | 3,505 |
| $ | 2,442 |
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Short-term investments |
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| 6,320 |
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| 4,244 |
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Accounts receivable, net of allowances of ($9) and ($9) |
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| 1,795 |
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| 1,584 |
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Raw materials |
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| 265 |
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| 183 |
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Work in process |
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| 1,151 |
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| 980 |
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Finished goods |
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| 644 |
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| 727 |
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Inventories |
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| 2,060 |
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| 1,890 |
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Prepaid expenses and other current assets |
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| 330 |
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| 245 |
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Total current assets |
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| 14,010 |
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| 10,405 |
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Property, plant and equipment at cost |
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| 8,236 |
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| 5,967 |
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Accumulated depreciation |
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| (2,797) |
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| (2,536) |
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Property, plant and equipment |
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| 5,439 |
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| 3,431 |
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Goodwill |
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| 4,362 |
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| 4,362 |
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Deferred tax assets |
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| 273 |
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| 331 |
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| Capitalized software licenses |
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| 91 |
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| 113 |
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| Overfunded retirement plans |
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| 383 |
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| 235 |
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| Other long-term assets |
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| 718 |
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| 762 |
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| Total assets |
| $ | 25,276 |
| $ | 19,639 |
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| Liabilities and stockholders' equity |
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| Current liabilities: |
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| Current portion of long-term debt |
| $ | 500 |
| $ | — |
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| Accounts payable |
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| 641 |
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| 554 |
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| Accrued compensation |
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| 386 |
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| 388 |
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| Income taxes payable |
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| 405 |
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| 278 |
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| Accrued expenses and other liabilities |
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| 596 |
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| 480 |
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| Total current liabilities |
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| 2,528 |
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| 1,700 |
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| Long-term debt |
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| 7,242 |
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| 6,250 |
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| Underfunded retirement plans |
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| 81 |
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| 130 |
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| Deferred tax liabilities |
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| 94 |
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| 88 |
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| Other long-term liabilities |
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| 1,314 |
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| 1,305 |
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| Total liabilities |
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| 11,259 |
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| 9,473 |
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| Stockholders' equity: |
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| Preferred stock, $25 par value. Shares authorized – 10; none issued |
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| — |
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| — |
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| Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741 |
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| 1,741 |
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| 1,741 |
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| Paid-in capital |
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| 2,667 |
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| 2,391 |
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| Retained earnings |
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| 47,053 |
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| 42,860 |
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| Treasury common stock at cost |
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| Shares: March 31, 2022 – 819; March 31, 2021 – 818 |
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| (37,291) |
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| (36,479) |
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| Accumulated other comprehensive income (loss), net of taxes (AOCI) |
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| (153) |
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| (347) |
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| Total stockholders' equity |
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| 14,017 |
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| 10,166 |
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| Total liabilities and stockholders' equity |
| $ | 25,276 |
| $ | 19,639 |
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| Certain amounts in the prior period's balance sheet have been reclassified to conform to the current presentation. |
