Texas Instruments

TEXAS INSTRUMENTS 2009 ANNUAL REPORT 
December 31,
Consolidated balance sheets      2009      2008
[Millions of dollars, except share amounts]
 
Assets
Current assets:
     Cash and cash equivalents $ 1,182 $ 1,046
     Short-term investments 1,743 1,494
     Accounts receivable, net of allowances 1,277 913
     Inventories 1,202 1,375
     Deferred income taxes 546 695
     Prepaid expenses and other current assets 164 267
     Total current assets 6,114 5,790
Property, plant and equipment at cost 6,705 7,321
     Less accumulated depreciation (3,547 ) (4,017 )
     Property, plant and equipment, net 3,158 3,304
Long-term investments 637 653
Goodwill 926 840
Acquisition-related intangibles 124 91
Deferred income taxes 926 990
Capitalized software licenses, net 119 182
Overfunded retirement plans 64 17
Other assets 51 56
Total assets $ 12,119 $ 11,923
 
Liabilities and Stockholders’ Equity
Current liabilities:
     Accounts payable $ 503 $ 324
     Accrued expenses and other liabilities 841 1,034
     Income taxes payable 128 40
     Accrued profit sharing and retirement 115 134
     Total current liabilities 1,587 1,532
Underfunded retirement plans 425 640
Deferred income taxes 67 59
Deferred credits and other liabilities 318 366
Total liabilities 2,397 2,597
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: 2009 – 1,739,811,721; 2008 – 1,739,718,073 1,740 1,740
     Paid-in capital 1,086 1,022
     Retained earnings 22,066 21,168
     Less treasury common stock at cost.
          Shares: 2009 – 499,693,704; 2008 – 461,822,215     (14,549 )     (13,814 )
     Accumulated other comprehensive income (loss), net of taxes (621 ) (790 )
     Total stockholders’ equity     9,722       9,326  
Total liabilities and stockholders’ equity $ 12,119 $ 11,923
 

See accompanying notes.




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