TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)

June 30,

2018

2017

Assets

Current assets:

Cash and cash equivalents

$

2,919

$

1,140

Short-term investments

2,211

1,844

Accounts receivable, net of allowances of ($9) and ($16)

1,551

1,469

Raw materials

155

109

Work in process

1,079

1,099

Finished goods

856

739

Inventories

2,090

1,947

Prepaid expenses and other current assets

821

1,111

Total current assets

9,592

7,511

Property, plant and equipment at cost

5,025

4,656

Accumulated depreciation

(2,170)

(2,142)

Property, plant and equipment

2,855

2,514

Long-term investments

271

250

Goodwill

4,362

4,362

Acquisition-related intangibles

787

1,105

Deferred tax assets

205

412

Capitalized software licenses

101

114

Overfunded retirement plans

205

99

Other long-term assets

149

71

Total assets

$

18,527

$

16,438

Liabilities and stockholders' equity

Current liabilities:

Current portion of long-term debt

$

—

$

499

Accounts payable

492

450

Accrued compensation

472

489

Income taxes payable

120

86

Accrued expenses and other liabilities

382

353

Total current liabilities

1,466

1,877

Long-term debt

5,066

3,084

Underfunded retirement plans

82

101

Deferred tax liabilities

50

33

Other long-term liabilities

1,229

635

Total liabilities

7,893

5,730

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

1,867

1,683

Retained earnings

36,413

34,149

Treasury common stock at cost

Shares: June 30, 2018 – 766,450,417; June 30, 2017 – 749,098,850

(29,016)

(26,345)

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

(371)

(520)

Total stockholders' equity

10,634

10,708

Total liabilities and stockholders' equity

$

18,527

$

16,438