Consolidated Balance Sheets (USD $) In Millions	Jun. 30, 2011	Dec. 31, 2010
Assets
Cash and cash equivalents	$ 4,501	$ 1,319
Short-term investments	1,899	1,753
Accounts receivable, net of allowances of ($23) and ($18)	1,672	1,518
Raw materials	148	122
Work in process	970	919
Finished goods	644	479
Inventories	1,762	1,520
Deferred income taxes	793	770
Prepaid expenses and other current assets	233	180
Total current assets	10,860	7,060
Property, plant and equipment at cost	6,573	6,907
Less accumulated depreciation	(2,859)	(3,227)
Property, plant and equipment, net	3,714	3,680
Long-term investments	334	453
Goodwill	924	924
Acquisition-related intangibles	63	76
Deferred income taxes	925	927
Capitalized software licenses, net	184	205
Overfunded retirement plans	25	31
Other assets	69	45
Total assets	17,098	13,401
Liabilities and Stockholders' Equity
Accounts payable	623	621
Accrued compensation	428	629
Income taxes payable	65	109
Accrued expenses and other liabilities	637	622
Total current liabilities	1,753	1,981
Long-term debt	3,498	0
Underfunded retirement plans	532	519
Deferred income taxes	92	86
Deferred credits and other liabilities	320	378
Total liabilities	6,195	2,964
Stockholders' equity:
Preferred stock, $25 par value. Authorized - 10,000,000 shares. Participating cumulative preferred. None issued.	0	0
Common stock, $1 par value. Authorized - 2,400,000,000 shares. Shares issued: June 30, 2011 – 1,740,530,417; December 31, 2010 – 1,740,166,101	1,741	1,740
Paid-in capital	1,108	1,114
Retained earnings	25,726	24,695
Less treasury common stock at cost. Shares: June 30, 2011 – 585,209,754; December 31, 2010 – 572,722,397	(16,986)	(16,411)
Accumulated other comprehensive income (loss), net of taxes	(686)	(701)
Total stockholders' equity	10,903	10,437
Total liabilities and stockholders' equity	$ 17,098	$ 13,401