TI reports second quarter 2021 financial results and shareholder returns

 

 

TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES


Consolidated Balance Sheets


June 30,


(Millions of dollars, except share amounts)


2021


2020


Assets






Current assets:






Cash and cash equivalents


$

3,649


$

4,294


Short-term investments


3,741


666


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


1,591


1,176


Raw materials


201


182


Work in process


996


977


Finished goods


659


977


Inventories


1,856


2,136


Prepaid expenses and other current assets


340


216


Total current assets


11,177


8,488


Property, plant and equipment at cost


6,235


5,741


Accumulated depreciation


(2,557)


(2,540)


Property, plant and equipment


3,678


3,201


Goodwill


4,362


4,362


Acquisition-related intangibles


57


240


Deferred tax assets


326


236


Capitalized software licenses


99


141


Overfunded retirement plans


254


223


Other long-term assets


650


554


Total assets


$

20,603


$

17,445








Liabilities and stockholders' equity




Current liabilities:




Current portion of long-term debt


$

499


$

551


Accounts payable


587


409


Accrued compensation


531


505


Income taxes payable


107


179


Accrued expenses and other liabilities


477


519


Total current liabilities


2,201


2,163


Long-term debt


5,752


6,245


Underfunded retirement plans


131


99


Deferred tax liabilities


87


60


Other long-term liabilities


1,279


1,234


Total liabilities


9,450


9,801


Stockholders' equity:






Preferred stock, $25 par value. Authorized – 10,000,000 shares; 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


2,485


2,182


Retained earnings


43,846


40,780


Treasury common stock at cost






Shares: June 30, 2021 – 817,729,258; June 30, 2020 – 825,225,307


(36,596)


(36,725)


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


(323)


(334)


Total stockholders' equity


11,153


7,644


Total liabilities and stockholders' equity


$

20,603


$

17,445



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