|
TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES | ||||
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Consolidated Balance Sheets | ||||
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(Millions of dollars, except share amounts) | ||||
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| ||||
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|
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March 31, | ||
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|
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2015 |
|
2014 |
|
Assets |
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|
|
|
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Current assets: |
|
|
|
|
|
Cash and cash equivalents |
|
$ 1,242 |
|
$ 1,565 |
|
Short-term investments |
|
2,062 |
|
2,467 |
|
Accounts receivable, net of allowances of ($12) and ($23) |
|
1,394 |
|
1,355 |
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Raw materials |
|
107 |
|
95 |
|
Work in process |
|
906 |
|
898 |
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Finished goods |
|
831 |
|
721 |
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Inventories |
|
1,844 |
|
1,714 |
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Deferred income taxes |
|
340 |
|
383 |
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Prepaid expenses and other current assets |
|
810 |
|
876 |
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Total current assets |
|
7,692 |
|
8,360 |
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Property, plant and equipment at cost |
|
6,177 |
|
6,426 |
|
Accumulated depreciation |
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(3,419) |
|
(3,247) |
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Property, plant and equipment, net |
|
2,758 |
|
3,179 |
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Long-term investments |
|
232 |
|
212 |
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Goodwill, net |
|
4,362 |
|
4,362 |
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Acquisition-related intangibles, net |
|
1,822 |
|
2,142 |
|
Deferred income taxes |
|
174 |
|
200 |
|
Capitalized software licenses, net |
|
73 |
|
111 |
|
Overfunded retirement plans |
|
128 |
|
129 |
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Other assets |
|
105 |
|
240 |
|
Total assets |
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$ 17,346 |
|
$ 18,935 |
|
|
|
|
|
|
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Liabilities and stockholders' equity |
|
|
|
|
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Current liabilities: |
|
|
|
|
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Current portion of long-term debt |
|
$ 1,000 |
|
$ 1,000 |
|
Accounts payable |
|
432 |
|
405 |
|
Accrued compensation |
|
349 |
|
364 |
|
Income taxes payable |
|
75 |
|
101 |
|
Deferred income taxes |
|
4 |
|
1 |
|
Accrued expenses and other liabilities |
|
426 |
|
600 |
|
Total current liabilities |
|
2,286 |
|
2,471 |
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Long-term debt |
|
3,638 |
|
4,652 |
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Underfunded retirement plans |
|
253 |
|
218 |
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Deferred income taxes |
|
403 |
|
536 |
|
Deferred credits and other liabilities |
|
397 |
|
438 |
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Total liabilities |
|
6,977 |
|
8,315 |
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Stockholders' equity: |
|
|
|
|
|
Preferred stock, $25 par value. Authorized – 10,000,000 shares. |
|
|
|
|
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Participating cumulative preferred. None issued. |
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— |
|
— |
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Common stock, $1 par value. Authorized – 2,400,000,000 shares. |
|
|
|
|
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Shares issued – 1,740,815,939 |
|
1,741 |
|
1,741 |
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Paid-in capital |
|
1,410 |
|
1,181 |
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Retained earnings |
|
29,948 |
|
28,331 |
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Treasury common stock at cost. |
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|
|
|
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Shares: March 31, 2015 – 696,401,920; March 31, 2014 |
|
|
|
|
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– 661,464,745 |
|
(22,199) |
|
(20,113) |
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Accumulated other comprehensive income (loss), net of taxes (AOCI) |
|
(531) |
|
(520) |
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Total stockholders' equity |
|
10,369 |
|
10,620 |
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Total liabilities and stockholders' equity |
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$ 17,346 |
|
$ 18,935 |
