Texas Instruments Incorporated (TXN)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	10,624,000	10,922,000	10,920,000	9,626,000	8,235,000	7,438,000	6,745,000	7,242,000	7,241,000	7,239,000	5,752,000	6,250,000	6,248,000	6,247,000	6,245,000	5,499,000	5,303,000	5,302,000	4,558,000	5,057,000
Total stockholders’ equity	US$ in thousands	16,897,000	16,631,000	15,940,000	15,243,000	14,577,000	14,507,000	14,092,000	14,017,000	13,333,000	12,151,000	11,153,000	10,166,000	9,187,000	8,325,000	7,644,000	7,734,000	8,907,000	8,985,000	8,486,000	8,519,000
Debt-to-capital ratio		0.39	0.40	0.41	0.39	0.36	0.34	0.32	0.34	0.35	0.37	0.34	0.38	0.40	0.43	0.45	0.42	0.37	0.37	0.35	0.37

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $10,624,000K ÷ ($10,624,000K + $16,897,000K)
= 0.39

The debt-to-capital ratio of Texas Instruments Inc. has remained relatively stable over the past eight quarters, ranging from 0.34 to 0.41. This ratio indicates that, on average, the company finances 34% to 41% of its capital through debt. The consistent values suggest that Texas Instruments has maintained a balanced mix of debt and equity in its capital structure. The slight fluctuations in the ratio are within a reasonable range and do not signify any significant changes in the company's leverage position. Overall, the debt-to-capital ratio data reflects a prudent and consistent approach to financing its operations by Texas Instruments Inc.