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Microsoft Excel LibreOffice Calc

Texas Instruments Inc. (TXN)


Analysis of Inventory

Difficulty: Advanced


Inventory Accounting Policy

Inventories are stated at the lower of cost or estimated net realizable value. Cost is generally computed on a currently adjusted standard cost basis, which approximates cost on a first-in first-out basis. Standard cost is based on the normal utilization of installed factory capacity. Cost associated with underutilization of capacity is expensed as incurred. Inventory held at consignment locations is included in TI’s finished goods inventory. Consigned inventory was $314 million and $303 million as of December 31, 2018 and 2017, respectively.

TI reviews inventory quarterly for salability and obsolescence. A statistical allowance is provided for inventory considered unlikely to be sold. The statistical allowance is based on an analysis of historical disposal activity, historical customer shipments, as well as estimated future sales. A specific allowance for each material type will be carried if there is a significant event not captured by the statistical allowance. TI writes off inventory in the period in which disposal occurs.

Source: 10-K (filing date: 2019-02-22).


Inventory Disclosure

Texas Instruments Inc., balance sheet: inventory

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Raw materials hidden hidden hidden hidden hidden
Work in process hidden hidden hidden hidden hidden
Finished goods hidden hidden hidden hidden hidden
Inventories hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-24).

Item Description The company
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Texas Instruments Inc.’s inventories increased from 2016 to 2017 and from 2017 to 2018.