TI reports 1Q16 financial results and shareholder returns

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




March 31,



2016


2015

Assets







Current assets:







Cash and cash equivalents


$

1,281


$

1,242

Short-term investments



1,519



2,062

Accounts receivable, net of allowances of ($11) and ($12)



1,269



1,394

Raw materials



105



107

Work in process



888



906

Finished goods



812



831

Inventories



1,805



1,844

Prepaid expenses and other current assets



785



810

Total current assets



6,659



7,352

Property, plant and equipment at cost



5,290



6,177

Accumulated depreciation



(2,736)



(3,419)

Property, plant and equipment, net



2,554



2,758

Long-term investments



220



232

Goodwill, net



4,362



4,362

Acquisition-related intangibles, net



1,503



1,822

Deferred income taxes



175



170

Capitalized software licenses, net



53



73

Overfunded retirement plans



84



128

Other assets



76



95

Total assets


$

15,686


$

16,992








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

1,249


$

1,000

Accounts payable



387



432

Accrued compensation



340



349

Income taxes payable



67



75

Accrued expenses and other liabilities



377



426

Total current liabilities



2,420



2,282

Long-term debt



2,869



3,628

Underfunded retirement plans



195



253

Deferred income taxes



38



63

Deferred credits and other liabilities



382



397

Total liabilities



5,904



6,623

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



1,558



1,410

Retained earnings



31,457



29,948

Treasury common stock at cost







Shares: March 31, 2016 – 734,244,179; March 31, 2015 – 696,401,920



(24,443)



(22,199)

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



(531)



(531)

Total stockholders' equity



9,782



10,369

Total liabilities and stockholders' equity


$

15,686


$

16,992


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