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TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES Consolidated Balance Sheets (Millions of dollars, except share amounts) | ||||||
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Dec. 31, 2013 |
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Dec. 31, 2012 |
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Sept. 30, 2013 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ 1,627 |
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$ 1,416 |
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$ 1,435 |
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Short-term investments |
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2,202 |
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2,549 |
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2,158 |
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Accounts receivable, net of allowances of ($22), ($31) and ($29) |
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1,203 |
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1,230 |
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1,524 |
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Raw materials |
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102 |
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116 |
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107 |
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Work in process |
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919 |
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935 |
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954 |
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Finished goods |
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710 |
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706 |
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665 |
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Inventories |
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1,731 |
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1,757 |
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1,726 |
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Deferred income taxes |
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393 |
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473 |
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461 |
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Prepaid expenses and other current assets |
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863 |
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805 |
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797 |
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Total current assets |
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8,019 |
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8,230 |
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8,101 |
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Property, plant and equipment at cost |
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6,556 |
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6,891 |
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6,539 |
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Less accumulated depreciation |
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(3,157) |
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(2,979) |
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(3,030) |
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Property, plant and equipment, net |
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3,399 |
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3,912 |
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3,509 |
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Long-term investments |
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216 |
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215 |
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210 |
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Goodwill, net |
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4,362 |
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4,362 |
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4,362 |
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Acquisition-related intangibles, net |
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2,223 |
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2,558 |
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2,305 |
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Deferred income taxes |
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207 |
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280 |
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227 |
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Capitalized software licenses, net |
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118 |
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142 |
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139 |
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Overfunded retirement plans |
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130 |
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68 |
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119 |
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Other assets |
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264 |
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254 |
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272 |
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Total assets |
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$ 18,938 |
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$ 20,021 |
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$ 19,244 |
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Liabilities and Stockholders' Equity |
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Current liabilities: |
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Current portion of long-term debt |
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$ 1,000 |
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$ 1,500 |
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$ 1,000 |
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Accounts payable |
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422 |
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444 |
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426 |
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Accrued compensation |
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554 |
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524 |
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567 |
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Income taxes payable |
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119 |
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79 |
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37 |
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Deferred income taxes |
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1 |
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2 |
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2 |
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Accrued expenses and other liabilities |
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651 |
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881 |
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691 |
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Total current liabilities |
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2,747 |
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3,430 |
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2,723 |
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Long-term debt |
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4,158 |
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4,186 |
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4,161 |
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Underfunded retirement plans |
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216 |
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269 |
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253 |
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Deferred income taxes |
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548 |
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572 |
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564 |
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Deferred credits and other liabilities |
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462 |
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603 |
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492 |
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Total liabilities |
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8,131 |
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9,060 |
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8,193 |
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Stockholders' equity: |
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Preferred stock, $25 par value. Authorized – 10,000,000 shares. Participating cumulative preferred. None issued. |
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-- |
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-- |
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-- |
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Common stock, $1 par value. Authorized – 2,400,000,000 shares. Shares issued – 1,740,815,939 |
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1,741 |
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1,741 |
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1,741 |
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Paid-in capital |
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1,211 |
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1,176 |
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1,125 |
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Retained earnings |
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28,173 |
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27,205 |
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27,993 |
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Less treasury common stock at cost: Shares: Dec. 31, 2013 – 658,012,970; Dec. 31, 2012 – 632,636,970; Sept. 30, 2013 – 646,252,825 |
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(19,790) |
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(18,462) |
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(19,236) |
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Accumulated other comprehensive income (loss), net of taxes |
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(528) |
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(699) |
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(572) |
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Total stockholders' equity |
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10,807 |
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10,961 |
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11,051 |
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Total liabilities and stockholders' equity |
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$ 18,938 |
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$ 20,021 |
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$ 19,244 |
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Certain amounts in prior periods' financial statements have been reclassified to conform to the current presentation. |
