Balance Sheet: Assets

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.

Texas Instruments Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash and cash equivalents	3,200)	2,964)	3,050)	4,631)	3,107)
Short-term investments	4,380)	5,611)	6,017)	5,108)	3,461)
Accounts receivable, net of allowances	1,719)	1,787)	1,895)	1,701)	1,414)
Inventories	4,527)	3,999)	2,757)	1,910)	1,955)
CHIPS Act incentives	904)	497)	—)	—)	—)
Other	296)	264)	302)	335)	302)
Prepaid expenses and other current assets	1,200)	761)	302)	335)	302)
Current assets	15,026)	15,122)	14,021)	13,685)	10,239)
Property, plant and equipment	11,347)	9,999)	6,876)	5,141)	3,269)
Goodwill	4,362)	4,362)	4,362)	4,362)	4,362)
Deferred tax assets	936)	757)	473)	263)	343)
Capitalized software licenses	257)	223)	152)	85)	122)
Overfunded retirement plans	233)	173)	188)	392)	246)
CHIPS Act incentives	2,246)	859)	395)	—)	—)
Other	1,102)	853)	740)	748)	770)
Other long-term assets	3,348)	1,712)	1,135)	748)	770)
Long-term assets	20,483)	17,226)	13,186)	10,991)	9,112)
Total assets	35,509)	32,348)	27,207)	24,676)	19,351)

Based on: 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), 10-K (reporting date: 2020-12-31).

Cash and Cash Equivalents: Cash and cash equivalents exhibited fluctuation over the analyzed period, increasing significantly from 3,107 million US dollars in 2020 to a peak of 4,631 million in 2021, followed by a decline to 3,050 million in 2022 and further stabilization around 3,200 million by 2024.
Short-Term Investments: Short-term investments showed an initial upward trend, growing notably from 3,461 million in 2020 to 6,017 million in 2022. However, a decline occurred afterward, dropping to 4,380 million by 2024, indicating possible reallocation of resources or changes in investment strategy.
Accounts Receivable, Net: Accounts receivable increased steadily from 1,414 million in 2020 up to 1,895 million in 2022, with a minor decrease in subsequent years, reaching 1,719 million in 2024, which may reflect fluctuations in sales volume or credit management.
Inventories: Inventories showed a consistent and pronounced upward trajectory, rising from 1,955 million in 2020 to 4,527 million by 2024. This significant increase could indicate buildup of stock, possibly in anticipation of higher demand or production scaling.
CHIPS Act Incentives (Current Assets): CHIPS Act incentives appeared starting in 2023 at 497 million and increased further to 904 million in 2024, representing a new source of current asset inflow likely related to government incentives supporting industry activities.
Prepaid Expenses and Other Current Assets: Prepaid expenses and other current assets remained relatively stable initially but experienced substantial growth from 302 million in 2022 to 1,200 million in 2024, suggesting increased advance payments or other asset accruals.
Total Current Assets: Total current assets rose steadily from 10,239 million in 2020 to a peak of 15,122 million in 2023, then slightly declined to 15,026 million in 2024, reflecting broad growth in liquid and near-liquid resources.
Property, Plant, and Equipment: Property, plant, and equipment grew markedly, more than tripling from 3,269 million in 2020 to 11,347 million in 2024, pointing to significant capital investment and capacity expansion.
Goodwill: Goodwill remained constant throughout the period at 4,362 million, indicating no recent acquisitions affecting this intangible asset.
Deferred Tax Assets: Deferred tax assets more than doubled over the period, from 343 million in 2020 to 936 million in 2024, reflecting changes in tax-related timing differences or losses carried forward.
Capitalized Software Licenses: There was a steady increase in capitalized software licenses from 122 million in 2020 to 257 million in 2024, indicating ongoing investments in software assets.
Overfunded Retirement Plans: Overfunded retirement plans fluctuated between 188 million and 392 million without a clear trend, concluding at 233 million in 2024.
CHIPS Act Incentives (Long-term Assets): Long-term CHIPS Act incentives commenced at 395 million in 2022 and increased substantially to 2,246 million by 2024, reflecting significant recognition of government incentives on a long-term basis.
Other Long-Term Assets: Other long-term assets increased considerably from 770 million in 2020 to 3,348 million in 2024, emphasizing a broad growth in assets not categorized elsewhere.
Total Long-Term Assets: Total long-term assets increased steadily from 9,112 million in 2020 to 20,483 million in 2024, indicating sustained investment in fixed and intangible assets.
Total Assets: Total assets rose significantly from 19,351 million in 2020 to 35,509 million in 2024, driven by increases in both current and long-term assets. The asset growth rate suggests strategic expansion and substantial capital deployment during the period analyzed.

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Texas Instruments Inc. (NASDAQ:TXN)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items