As of Q1'26, Texas Instruments (TXN) reported cash and short-term investments at $5.1B USD, marking a modest quarterly increase from $4.9B in Q4'25 but remaining well below historical highs. In contrast, total debt stood stable at $14.1B USD, showing minimal change from the prior quarter and maintaining a level roughly 2.8 times higher than cash reserves, which underscores ongoing liquidity pressures. Over the period from Q2'23 to Q1'26, cash and short-term investments exhibited a clear downward trend, declining from a peak of $10.4B in Q1'24 to the current $5.1B, with notable drops exceeding 20% in Q4'24 and Q1'25 amid apparent operational or market challenges. Debt levels, however, remained relatively stable overall, fluctuating between $11.2B and $14.1B after an initial rise to $14.2B in Q1'24, resulting in a deteriorating net debt position that widened from approximately $1.7B in Q2'23 to $9.0B by Q1'26, signaling increased financial leverage for the semiconductor firm.