Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Texas Instruments Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Current portion of long-term debt	500)	750)	599)	500)	500)
Accounts payable	756)	820)	802)	851)	571)
Accrued compensation	829)	839)	836)	799)	775)
Income taxes payable	67)	159)	172)	189)	121)
Accrued capital-related expenditures	300)	352)	341)	191)	—)
Other	707)	723)	570)	455)	602)
Accrued expenses and other liabilities	1,007)	1,075)	911)	646)	602)
Current liabilities	3,159)	3,643)	3,320)	2,985)	2,569)
Long-term debt, excluding current portion	13,548)	12,846)	10,624)	8,235)	7,241)
Underfunded retirement plans	124)	110)	108)	118)	79)
Deferred tax liabilities	66)	53)	63)	66)	87)
Other long-term liabilities	1,415)	1,954)	1,336)	1,226)	1,367)
Long-term liabilities	15,153)	14,963)	12,131)	9,645)	8,774)
Total liabilities	18,312)	18,606)	15,451)	12,630)	11,343)
Preferred stock, $25 par value; none issued	—)	—)	—)	—)	—)
Common stock, $1 par value	1,741)	1,741)	1,741)	1,741)	1,741)
Paid-in capital	4,511)	3,935)	3,362)	2,951)	2,630)
Retained earnings	52,236)	52,262)	52,283)	50,353)	45,919)
Treasury common stock at cost	(42,130)	(40,895)	(40,284)	(40,214)	(36,800)
Accumulated other comprehensive loss, net of taxes (AOCI)	(85)	(140)	(205)	(254)	(157)
Stockholders’ equity	16,273)	16,903)	16,897)	14,577)	13,333)
Total liabilities and stockholders’ equity	34,585)	35,509)	32,348)	27,207)	24,676)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Overall, the liabilities of the company demonstrate a consistent upward trend from 2021 to 2024, peaking at US$18.606 billion before experiencing a slight decrease in 2025. Stockholders’ equity also increased between 2021 and 2023, but remained relatively stable between 2023 and 2025. The total liabilities and stockholders’ equity followed a similar pattern, increasing significantly until 2024 and then decreasing slightly in 2025.

Current Liabilities: Current liabilities increased steadily from US$2.569 billion in 2021 to US$3.643 billion in 2024, representing a substantial increase over the period. However, a decrease to US$3.159 billion was observed in 2025. Accounts payable and accrued compensation contributed significantly to this trend, both showing consistent increases until 2024. Income taxes payable fluctuated, decreasing notably in 2025. The current portion of long-term debt increased from 2021 to 2024, then decreased in 2025.
Long-Term Liabilities: Long-term liabilities exhibited a pronounced upward trend, rising from US$8.774 billion in 2021 to US$14.963 billion in 2024, before stabilizing at US$15.153 billion in 2025. This growth was primarily driven by increases in long-term debt, excluding the current portion. Other long-term liabilities also contributed to the increase, particularly in 2024. Underfunded retirement plans and deferred tax liabilities remained relatively stable throughout the period.
Stockholders’ Equity: Stockholders’ equity increased from US$13.333 billion in 2021 to US$16.897 billion in 2023, then remained relatively flat at US$16.903 billion in 2024 and decreasing slightly to US$16.273 billion in 2025. Retained earnings were the primary driver of this growth, increasing substantially between 2021 and 2023, but remaining relatively stable thereafter. Paid-in capital also increased consistently throughout the period. Treasury stock consistently increased, representing a reduction in equity, while accumulated other comprehensive loss decreased, partially offsetting the impact of treasury stock.
Debt Composition: Long-term debt, excluding the current portion, constitutes the largest component of total liabilities. The proportion of total liabilities represented by long-term debt increased over the period, indicating a greater reliance on long-term financing. Current liabilities, while smaller in absolute terms, also represent a significant portion of the company’s obligations and experienced substantial growth until 2024.

The slight decrease in total liabilities and stockholders’ equity in 2025 warrants further investigation to determine the underlying causes and potential implications for the company’s financial position.

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Texas Instruments Inc. (NASDAQ:TXN)

Balance Sheet: Liabilities and Stockholders’ Equity