TI reports 4Q16 and 2016 financial results and shareholder returns

 


TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

(Millions of dollars, except share amounts)




December 31,



2016


2015

Assets







Current assets:







Cash and cash equivalents


$

1,154


$

1,000

Short-term investments



2,336



2,218

Accounts receivable, net of allowances of ($17) and ($7)



1,267



1,165

Raw materials



102



109

Work in process



954



846

Finished goods



734



736

Inventories



1,790



1,691

Prepaid expenses and other current assets



910



1,000

Total current assets



7,457



7,074

Property, plant and equipment at cost



4,923



5,465

Accumulated depreciation



(2,411)



(2,869)

Property, plant and equipment, net



2,512



2,596

Long-term investments



235



221

Goodwill, net



4,362



4,362

Acquisition-related intangibles, net



1,264



1,583

Deferred income taxes



374



201

Capitalized software licenses, net



52



46

Overfunded retirement plans



96



85

Other assets



79



62

Total assets


$

16,431


$

16,230








Liabilities and stockholders' equity







Current liabilities:







Current portion of long-term debt


$

631


$

1,000

Accounts payable



396



386

Accrued compensation



710



664

Income taxes payable



83



95

Accrued expenses and other liabilities



444



410

Total current liabilities



2,264



2,555

Long-term debt



2,978



3,120

Underfunded retirement plans



129



196

Deferred income taxes



33



37

Deferred credits and other liabilities



554



376

Total liabilities



5,958



6,284

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



1,674



1,629

Retained earnings



33,107



31,176

Treasury common stock at cost







Shares: 2016 – 744,831,978; 2015 – 729,547,527



(25,523)



(24,068)

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



(526)



(532)

Total stockholders' equity



10,473



9,946

Total liabilities and stockholders' equity


$

16,431


$

16,230


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