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Texas Instruments Inc. (TXN)


Statement of Financial Position, Assets

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Texas Instruments Inc., Consolidated Statement of Financial Position, Assets

USD $ in millions

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Cash and cash equivalents 2,438  1,656  1,154  1,000  1,199 
Short-term investments 1,795  2,813  2,336  2,218  2,342 
Accounts receivable, net of allowances 1,207  1,278  1,267  1,165  1,246 
Inventories 2,217  1,957  1,790  1,691  1,784 
Deferred income taxes —  —  —  —  347 
Prepaid taxes on intercompany inventory profits, net 132  768  566  801  693 
Other 308  262  344  199  157 
Prepaid expenses and other current assets 440  1,030  910  1,000  850 
Current assets 8,097  8,734  7,457  7,074  7,768 
Property, plant and equipment 3,183  2,664  2,512  2,596  2,840 
Long-term investments 251  268  235  221  224 
Goodwill 4,362  4,362  4,362  4,362  4,362 
Acquisition-related intangibles 628  946  1,264  1,583  1,902 
Deferred tax assets 295  264  374  201  172 
Capitalized software licenses 89  110  52  46  83 
Overfunded retirement plans 92  208  96  85  127 
Other long-term assets 140  86  79  62  244 
Long-term assets 9,040  8,908  8,974  9,156  9,954 
Total assets 17,137  17,642  16,431  16,230  17,722 

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).


Assets, Selected Items

Item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Texas Instruments Inc.’s current assets increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Property, plant and equipment Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Texas Instruments Inc.’s property, plant and equipment increased from 2016 to 2017 and from 2017 to 2018.
Long-term assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Texas Instruments Inc.’s long-term assets declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Texas Instruments Inc.’s total assets increased from 2016 to 2017 but then slightly declined from 2017 to 2018.

Current Assets, Selected Items

Item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Texas Instruments Inc.’s cash and cash equivalents increased from 2016 to 2017 and from 2017 to 2018.
Short-term investments Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Texas Instruments Inc.’s short-term investments increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
Accounts receivable, net of allowances Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Texas Instruments Inc.’s accounts receivable, net of allowances increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
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.