Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company 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.
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Texas Instruments Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Total assets exhibited a sustained growth trajectory over the analyzed period, increasing from 19,639 million USD in March 2021 to a peak of 35,509 million USD in December 2024, before stabilizing around 34,393 million USD by March 2026. This overall expansion is primarily driven by significant increases in both property, plant, and equipment and inventory levels.
- Current Asset Dynamics
- Current assets grew from 10,405 million USD in March 2021 to a peak of 17,448 million USD in March 2024. A critical observation is the volatility in short-term investments, which reached a high of 7,910 million USD in March 2024 but declined sharply to 1,554 million USD by March 2026. Conversely, inventories showed a consistent and aggressive upward trend, rising from 1,890 million USD in March 2021 to 4,695 million USD by March 2026. This growth was fueled by a substantial increase in work-in-process inventory, which more than doubled, and finished goods, which grew from 727 million USD to 1,877 million USD over the same period.
- Fixed Asset Expansion
- Net property, plant, and equipment (PP&E) underwent a massive expansion, increasing from 3,431 million USD in March 2021 to a peak of 12,348 million USD in June 2025. The gross cost of PP&E rose steadily from 5,967 million USD to 17,870 million USD, indicating a period of intense capital expenditure. This growth is mirrored by a steady increase in accumulated depreciation, which grew from 2,536 million USD to 5,725 million USD, reflecting the expanding scale of the company's physical infrastructure.
- Other Long-Term Assets and Intangibles
- Goodwill remained virtually stagnant at 4,362 million USD for the majority of the period, with a minor decrease to 4,330 million USD in late 2025. Deferred tax assets showed a general upward trend, growing from 331 million USD in March 2021 to 973 million USD in March 2026. Other long-term assets experienced significant volatility, peaking at 3,348 million USD in December 2024 before receding to 2,505 million USD by March 2026.
The financial data indicates a strategic shift toward heavy industrial expansion and capacity building, evidenced by the multi-fold increase in net PP&E. The simultaneous accumulation of inventories, particularly in finished goods and work-in-process, suggests a significant build-up of production capacity. The liquidity profile shifted toward the end of the period, characterized by a marked reduction in short-term investments and a stabilization of cash and cash equivalents.