TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

June 30,

(In millions, except par value)

2023

2022

Assets

Current assets:

   Cash and cash equivalents

$     3,439

$     3,802

   Short-term investments

6,113

4,585

   Accounts receivable, net of allowances of ($16) and ($12)

1,956

2,190

   Raw materials

388

305

   Work in process

2,110

1,258

   Finished goods

1,231

636

   Inventories

3,729

2,199

   Prepaid expenses and other current assets

277

267

   Total current assets

15,514

13,043

Property, plant and equipment at cost

11,664

8,825

   Accumulated depreciation

(3,139)

(2,894)

   Property, plant and equipment

8,525

5,931

Goodwill

4,362

4,362

Deferred tax assets

537

293

Capitalized software licenses

143

82

Overfunded retirement plans

183

296

Other long-term assets

1,675

716

Total assets

$    30,939

$    24,723

Liabilities and stockholders' equity

Current liabilities:

   Current portion of long-term debt

$         299

$         499

   Accounts payable

923

712

   Accrued compensation

561

520

   Income taxes payable

121

115

   Accrued expenses and other liabilities

807

714

   Total current liabilities

2,711

2,560

Long-term debt

10,920

6,745

Underfunded retirement plans

127

71

Deferred tax liabilities

69

90

Other long-term liabilities

1,172

1,165

Total liabilities

14,999

10,631

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

3,163

2,783

   Retained earnings

51,522

48,280

   Treasury common stock at cost

   Shares: June 30, 2023 – 833; June 30, 2022 – 826

(40,240)

(38,532)

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

(246)

(180)

Total stockholders' equity

15,940

14,092

Total liabilities and stockholders' equity

$    30,939

$    24,723