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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 1,627 $ 1,416
Short-term investments 2,202 2,549
Accounts receivable, net of allowances of ($22) and ($31) 1,203 1,230
Raw materials 102 116
Work in process 919 935
Finished goods 710 706
Inventories 1,731 1,757
Deferred income taxes 393 473
Prepaid expenses and other current assets 863 805
Total current assets 8,019 8,230
Property, plant and equipment at cost 6,556 6,891
Accumulated depreciation (3,157) (2,979)
Property, plant and equipment, net 3,399 3,912
Long-term investments 216 215
Goodwill, net 4,362 4,362
Acquisition-related intangibles, net 2,223 2,558
Deferred income taxes 207 280
Capitalized software licenses, net 118 142
Overfunded retirement plans 130 68
Other assets 264 254
Total assets 18,938 20,021
Current liabilities:    
Current portion of long-term debt 1,000 1,500
Accounts payable 422 444
Accrued compensation 554 524
Income taxes payable 119 79
Deferred income taxes 1 2
Accrued expenses and other liabilities 651 881
Total current liabilities 2,747 3,430
Long-term debt 4,158 4,186
Underfunded retirement plans 216 269
Deferred income taxes 548 572
Deferred credits and other liabilities 462 603
Total liabilities 8,131 9,060
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: 1,740,815,939 1,741 1,741
Paid-in capital 1,211 1,176
Retained earnings 28,173 27,205
Treasury common stock at cost. Shares: 2013 – 658,012,970; 2012 – 632,636,970 (19,790) (18,462)
Accumulated other comprehensive income (loss), net of taxes (528) (699)
Total stockholders’ equity 10,807 10,961
Total liabilities and stockholders’ equity $ 18,938 $ 20,021