TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)

September 30,

2014

2013

Assets

Current assets:

Cash and cash equivalents

$

1,306

$

1,435

Short-term investments

1,880

2,158

Accounts receivable, net of allowances of ($15) and ($29)

1,477

1,524

Raw materials

97

107

Work in process

905

954

Finished goods

749

665

Inventories

1,751

1,726

Deferred income taxes

378

461

Prepaid expenses and other current assets

964

797

Total current assets

7,756

8,101

Property, plant and equipment at cost

6,393

6,539

Accumulated depreciation

(3,463)

(3,030)

Property, plant and equipment, net

2,930

3,509

Long-term investments

219

210

Goodwill, net

4,362

4,362

Acquisition-related intangibles, net

1,982

2,305

Deferred income taxes

177

227

Capitalized software licenses, net

93

139

Overfunded retirement plans

135

119

Other assets

246

272

Total assets

$

17,900

$

19,244

Liabilities and stockholders' equity

Current liabilities:

Current portion of long-term debt

$

1,002

$

1,000

Accounts payable

393

426

Accrued compensation

613

567

Income taxes payable

106

37

Deferred income taxes

2

2

Accrued expenses and other liabilities

527

691

Total current liabilities

2,643

2,723

Long-term debt

3,643

4,161

Underfunded retirement plans

222

253

Deferred income taxes

450

564

Deferred credits and other liabilities

471

492

Total liabilities

7,429

8,193

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

1,314

1,125

Retained earnings

29,189

27,993

Treasury common stock at cost.

Shares: September 30, 2014 – 684,515,992; September 30, 2013

– 646,252,825

(21,305)

(19,236)

Accumulated other comprehensive income (loss), net of taxes

(468)

(572)

Total stockholders' equity

10,471

11,051

Total liabilities and stockholders' equity

$

17,900

$

19,244