TI reports third quarter 2024 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Balance Sheets


September 30,

(In millions, except par value)


2024


2023

Assets







Current assets:







   Cash and cash equivalents


$

2,589


$

2,566

   Short-term investments



6,163



6,382

   Accounts receivable, net of allowances of ($23) and ($15)



1,862



1,976

   Raw materials



393



401

   Work in process



2,081



2,147

   Finished goods



1,822



1,360

   Inventories



4,296



3,908

   Prepaid expenses and other current assets



962



265

   Total current assets



15,872



15,097

Property, plant and equipment at cost



15,464



12,528

   Accumulated depreciation



(3,662)



(3,208)

   Property, plant and equipment



11,802



9,320

Goodwill



4,362



4,362

Deferred tax assets



941



632

Capitalized software licenses



229



138

Overfunded retirement plans



184



166

Other long-term assets



1,931



1,923

Total assets


$

35,321


$

31,638








Liabilities and stockholders' equity







Current liabilities:







   Current portion of long-term debt


$

1,049


$

300

   Accounts payable



794



713

   Accrued compensation



721



707

   Income taxes payable



108



108

   Accrued expenses and other liabilities



1,014



824

   Total current liabilities



3,686



2,652

Long-term debt



12,844



10,922

Underfunded retirement plans



117



141

Deferred tax liabilities



54



66

Other long-term liabilities



1,352



1,226

Total liabilities



18,053



15,007

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



3,813



3,280

   Retained earnings



52,304



52,098

   Treasury common stock at cost







   Shares: September 30, 2024 – 829; September 30, 2023 – 833



(40,395)



(40,253)

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



(195)



(235)

Total stockholders' equity



17,268



16,631

Total liabilities and stockholders' equity


$

35,321


$

31,638


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