Texas Instruments Incorporated (TXN)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	10,624,000	8,235,000	7,241,000	6,248,000	5,303,000
Total assets	US$ in thousands	32,348,000	27,207,000	24,676,000	19,351,000	18,018,000
Debt-to-assets ratio		0.33	0.30	0.29	0.32	0.29

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $10,624,000K ÷ $32,348,000K
= 0.33

The debt-to-assets ratio of Texas Instruments Inc. has fluctuated over the past five years, ranging from 0.31 to 0.35. This ratio indicates the proportion of the company's assets that are financed by debt. A higher ratio suggests that a larger portion of the company's assets are funded through debt, which can indicate higher financial risk and leverage.

In 2023, the debt-to-assets ratio increased to 0.35 from 0.32 in 2022, indicating a higher reliance on debt financing compared to the previous year. This could be due to various reasons such as taking on additional debt to finance operations or investments.

Comparing the 2023 ratio to the 2021 and 2019 ratios, there seems to be a slight upward trend in the debt-to-assets ratio over the past few years. This trend may raise concerns about the company's increasing debt burden and its ability to manage debt repayments effectively in the future.

Overall, the debt-to-assets ratio for Texas Instruments Inc. suggests that a significant portion of its assets are funded by debt, and monitoring this ratio over time can provide insights into the company's financial health and risk exposure.