TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

September 30,

(In millions, except par value)

2023

2022

Assets

Current assets:

   Cash and cash equivalents

$

2,566

$

3,169

   Short-term investments

6,382

5,921

   Accounts receivable, net of allowances of ($15) and ($10)

1,976

2,040

   Raw materials

401

333

   Work in process

2,147

1,347

   Finished goods

1,360

724

   Inventories

3,908

2,404

   Prepaid expenses and other current assets

265

238

   Total current assets

15,097

13,772

Property, plant and equipment at cost

12,528

9,491

   Accumulated depreciation

(3,208)

(3,006)

   Property, plant and equipment

9,320

6,485

Goodwill

4,362

4,362

Deferred tax assets

632

291

Capitalized software licenses

138

75

Overfunded retirement plans

166

273

Other long-term assets

1,923

799

Total assets

$

31,638

$

26,057

Liabilities and stockholders' equity

Current liabilities:

   Current portion of long-term debt

$

300

$

499

   Accounts payable

713

780

   Accrued compensation

707

662

   Income taxes payable

108

123

   Accrued expenses and other liabilities

824

734

   Total current liabilities

2,652

2,798

Long-term debt

10,922

7,438

Underfunded retirement plans

141

69

Deferred tax liabilities

66

92

Other long-term liabilities

1,226

1,153

Total liabilities

15,007

11,550

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

3,280

2,877

   Retained earnings

52,098

49,519

   Treasury common stock at cost

   Shares: September 30, 2023 – 833; September 30, 2022 – 831

(40,253)

(39,476)

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

(235)

(154)

Total stockholders' equity

16,631

14,507

Total liabilities and stockholders' equity

$

31,638

$

26,057