Texas Instruments 2015 Annual Report Download - page 54
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FORM 10-K
The following are our assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2014 and 2013.
We had no Level 3 assets or liabilities as of December 31, 2014 and 2013. These tables do not include cash on hand, assets held by our
postretirement plans, or assets and liabilities that are measured at historical cost or any basis other than fair value.
Fair Value
December 31, 2014 Level 1 Level 2
Assets:
Money market funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 522 $ 522 $ —
Corporate obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 487 — 487
U.S. Government agency and Treasury securities . . . . . . . . . . . . . . . . . . . . 2,317 1,762 555
Mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185 185 —
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,511 $ 2,469 $ 1,042
Liabilities:
Deferred compensation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 202 $ 202 $ —
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 202 $ 202 $ —
Fair Value
December 31, 2013 Level 1 Level 2
Assets:
Money market funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 500 $ 500 $ —
Corporate obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 340 — 340
U.S. Government agency and Treasury securities . . . . . . . . . . . . . . . . . . . . 2,772 2,107 665
Mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179 179 —
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,791 $ 2,786 $ 1,005
Liabilities:
Deferred compensation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 197 $ 197 $ —
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 197 $ 197 $ —
The following table summarizes goodwill, net, by segment for the years ended December 31, 2014 and 2013.
Goodwill
Analog . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,158
Embedded Processing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,362
We perform our annual goodwill impairment test as of October 1 and determine whether the fair value of each of our reporting units
is in excess of its carrying value. Determination of fair value is based upon management estimates and judgment, using unobservable
inputs in discounted cash flow models to calculate the fair value of each reporting unit. These unobservable inputs are considered
Level 3 measurements. For the years ended December 31, 2014 and 2013, we determined no impairment was indicated. See Note 9
for additional information.
In November 2012, as a result of unsuccessful efforts to divest certain Wireless product lines and the subsequent decision to restructure
and wind down those product lines, we reassessed the recoverability of the goodwill associated with the former Wireless segment. As a
result, we recognized a non-cash, non-tax deductible impairment charge of $90 million for that goodwill. We recognized this impairment
in Restructuring charges/other in the Consolidated Statements of Income, as discussed in Note 4. As of December 31, 2014 and 2013,
the accumulated impairment of goodwill was $90 million.