TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

December 31,

(In millions, except par value)

2023

2022

Assets

Current assets:

   Cash and cash equivalents

$

2,964

$

3,050

   Short-term investments

5,611

6,017

   Accounts receivable, net of allowances of ($16) and ($13)

1,787

1,895

   Raw materials

420

353

   Work in process

2,109

1,546

   Finished goods

1,470

858

   Inventories

3,999

2,757

   Prepaid expenses and other current assets

761

302

   Total current assets

15,122

14,021

Property, plant and equipment at cost

13,268

9,950

   Accumulated depreciation

(3,269)

(3,074)

   Property, plant and equipment

9,999

6,876

Goodwill

4,362

4,362

Deferred tax assets

757

473

Capitalized software licenses

223

152

Overfunded retirement plans

173

188

Other long-term assets

1,712

1,135

Total assets

$

32,348

$

27,207

Liabilities and stockholders' equity

Current liabilities:

   Current portion of long-term debt

$

599

$

500

   Accounts payable

802

851

   Accrued compensation

836

799

   Income taxes payable

172

189

   Accrued expenses and other liabilities

911

646

   Total current liabilities

3,320

2,985

Long-term debt

10,624

8,235

Underfunded retirement plans

108

118

Deferred tax liabilities

63

66

Other long-term liabilities

1,336

1,226

Total liabilities

15,451

12,630

Stockholders' equity:

   Preferred stock, $25 par value. Shares authorized – 10; none issued

—

—

   Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741

1,741

1,741

   Paid-in capital

3,362

2,951

   Retained earnings

52,283

50,353

   Treasury common stock at cost

   Shares: 2023 – 832; 2022 – 835

(40,284)

(40,214)

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

(205)

(254)

Total stockholders' equity

16,897

14,577

Total liabilities and stockholders' equity

$

32,348

$

27,207