TI reports second quarter 2019 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




June 30,



2019


2018

Assets







Current assets:







Cash and cash equivalents


$

3,813


$

2,919

Short-term investments



405



2,211

Accounts receivable, net of allowances of ($15) and ($9)



1,419



1,551

Raw materials



176



155

Work in process



958



1,079

Finished goods



945



856

Inventories



2,079



2,090

Prepaid expenses and other current assets



240



821

Total current assets



7,956



9,592

Property, plant and equipment at cost



5,706



5,025

Accumulated depreciation



(2,341)



(2,170)

Property, plant and equipment



3,365



2,855

Long-term investments



300



271

Goodwill



4,362



4,362

Acquisition-related intangibles



469



787

Deferred tax assets



261



205

Capitalized software licenses



88



101

Overfunded retirement plans



104



205

Other long-term assets



479



149

Total assets


$

17,384


$

18,527








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

1,249


$

Accounts payable



412



492

Accrued compensation



476



472

Income taxes payable



87



120

Accrued expenses and other liabilities



422



382

Total current liabilities



2,646



1,466

Long-term debt



4,558



5,066

Underfunded retirement plans



121



82

Deferred tax liabilities



49



50

Other long-term liabilities



1,524



1,229

Total liabilities



8,898



7,893

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



2,003



1,867

Retained earnings



38,974



36,413

Treasury common stock at cost







Shares: June 30, 2019 – 806,251,136; June 30, 2018 – 766,450,417



(33,775)



(29,016)

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



(457)



(371)

Total stockholders' equity



8,486



10,634

Total liabilities and stockholders' equity


$

17,384


$

18,527



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