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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Assets    
Cash and cash equivalents [1] $ 3,581 $ 3,485
Accounts receivable, less allowance for doubtful accounts of $19 in 2022 and $17 in 2021 1,215 1,133
Inventories 2,345 1,923
Other current assets 365 389
Total current assets 7,506 6,930
Property, plant and equipment, less accumulated depreciation of $2,297 in 2022 and $2,072 in 2021 2,753 2,422
Operating lease right of use assets 220 181
Goodwill 2,746 2,682
Identifiable intangible assets, less accumulated amortization 1,380 1,474
Noncurrent deferred tax assets 173 100
Other noncurrent assets 147 111
Total assets 14,925 13,900
Liabilities and Equity    
Short-term borrowings 2 0
Current portion of long-term debt 1,350 0
Accounts payable 405 436
Dividends payable 174 154
Accrued expenses 682 710
Accrued compensation and related items 300 392
Income taxes payable 157 38
Other current liabilities 97 67
Total current liabilities 3,167 1,797
Long-term debt, net of discount and issuance costs 6,552 6,592
Noncurrent deferred tax liabilities 142 320
Operating lease liabilities 186 151
Other taxes payable 258 257
Other noncurrent liabilities 217 239
Total liabilities 10,522 9,356
Common stock, $0.01 par value: 6,000,000,000 authorized, 501,891,243 and 501,891,243 shares issued; 463,808,059 and 472,574,090 shares outstanding at December 31, 2022 and 2021, respectively 5 5
Treasury stock, at cost, 38,083,184 and 29,317,153 shares of common stock at December 31, 2022 and 2021, respectively (4,539) (2,952)
Additional paid-in capital 1,088 1,068
Retained earnings 8,668 7,186
Accumulated other comprehensive loss (817) (764)
Stockholders' Equity Attributable to Parent 4,405 4,543
Stockholders' Equity Attributable to Noncontrolling Interest (2) 1
Total equity 4,403 4,544
Total liabilities and equity $ 14,925 $ 13,900
[1] As of December 31, 2022 and 2021, includes $4 million and $3 million, respectively, of restricted cash.