TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

December 31,

(In millions, except par value)

2022

2021

Assets

Current assets:

  Cash and cash equivalents

$            3,050

$            4,631

  Short-term investments

6,017

5,108

  Accounts receivable, net of allowances of ($13) and ($8)

1,895

1,701

  Raw materials

353

245

  Work in process

1,546

1,067

  Finished goods

858

598

  Inventories

2,757

1,910

  Prepaid expenses and other current assets

302

335

  Total current assets

14,021

13,685

Property, plant and equipment at cost

9,950

7,858

  Accumulated depreciation

(3,074)

(2,717)

  Property, plant and equipment

6,876

5,141

Goodwill

4,362

4,362

Deferred tax assets

473

263

Capitalized software licenses

152

85

Overfunded retirement plans

188

392

Other long-term assets

1,135

748

Total assets

$          27,207

$          24,676

Liabilities and stockholders' equity

Current liabilities:

  Current portion of long-term debt

$               500

$               500

  Accounts payable

851

571

  Accrued compensation

799

775

  Income taxes payable

189

121

  Accrued expenses and other liabilities

646

602

  Total current liabilities

2,985

2,569

Long-term debt

8,235

7,241

Underfunded retirement plans

118

79

Deferred tax liabilities

66

87

Other long-term liabilities

1,226

1,367

Total liabilities

12,630

11,343

Stockholders' equity:

  Preferred stock, $25 par value. Shares authorized – 10; none issued

—

—

  Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741

1,741

1,741

  Paid-in capital

2,951

2,630

  Retained earnings

50,353

45,919

  Treasury common stock at cost

  Shares: 2022 – 835; 2021 – 817

(40,214)

(36,800)

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

(254)

(157)

Total stockholders' equity

14,577

13,333

Total liabilities and stockholders' equity

$         27,207

$         24,676

Certain amounts in the prior period's balance sheet have been reclassified to conform to the current presentation.