Texas Instruments 2005 Annual Report Download - page 10

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Consolidated Balance Sheets
(Millions of dollars, except share amounts) December 31,
2005 2004
Assets
Current assets:
Cash and cash equivalents ....................................................................... $ 1,219 $ 2,668
Short-term investments ........................................................................... 4,116 3,690
Accounts receivable, net of allowances .......................................................... 1,812 1,696
Inventories ....................................................................................... 1,273 1,256
Deferred income taxes ........................................................................... 619 554
Prepaid expenses and other current assets ...................................................... 146 272
Total current assets .............................................................................. 9,185 10,136
Property, plant and equipment at cost .............................................................. 8,921 9,573
Less accumulated depreciation ................................................................... (5,022) (5,655)
Property, plant and equipment, net ............................................................... 3,899 3,918
Equity and debt investments ........................................................................ 236 264
Goodwill ............................................................................................ 713 701
Acquisition-related intangibles ...................................................................... 64 111
Deferred income taxes .............................................................................. 393 449
Capitalized software licenses, net ................................................................... 245 307
Prepaid retirement costs ............................................................................ 210 277
Other assets ........................................................................................ 118 136
Total assets ......................................................................................... $ 15,063 $ 16,299
Liabilities and Stockholders’ Equity
Current liabilities:
Loans payable and current portion of long-term debt ............................................. $ 301 $11
Accounts payable ................................................................................ 750 552
Accrued expenses and other liabilities ........................................................... 998 892
Income taxes payable ............................................................................ 163 203
Accrued profit sharing and retirement ............................................................ 134 267
Total current liabilities ............................................................................ 2,346 1,925
Long-term debt ...................................................................................... 360 368
Accrued retirement costs ........................................................................... 136 589
Deferred income taxes .............................................................................. 23 40
Deferred credits and other liabilities ................................................................ 261 314
Total liabilities ....................................................................................... 3,126 3,236
Stockholders’ equity:
Preferred stock, $25 par value. Authorized – 10,000,000 shares.
Participating cumulative preferred. None issued ............................................... ——
Common stock, $1 par value. Authorized – 2,400,000,000 shares.
Shares issued: 2005 – 1,738,780,512; 2004 – 1,738,156,615 ....................................... 1,739 1,738
Paid-in capital .................................................................................... 742 750
Retained earnings ................................................................................ 13,394 11,242
Less treasury common stock at cost.
Shares: 2005 – 142,190,707; 2004 – 20,041,497 .................................................. (3,856) (480)
Accumulated other comprehensive income (loss), net of tax:
Minimum pension liability ...................................................................... (65) (168)
Unrealized gains (losses) on available-for-sale investments .................................... (16) (15)
Unearned compensation .......................................................................... (1) (4)
Total stockholders’ equity ......................................................................... 11,937 13,063
Total liabilities and stockholders’ equity ............................................................. $ 15,063 $ 16,299
See accompanying notes.
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TEXAS INSTRUMENTS 2005 ANNUAL REPORT