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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 1,565 $ 1,627
Short-term investments 2,467 2,202
Accounts receivable, net of allowances of ($23) and ($22) 1,355 1,203
Raw materials 95 102
Work in process 898 919
Finished goods 721 710
Inventories 1,714 1,731
Deferred income taxes 383 393
Prepaid expenses and other current assets 876 863
Total current assets 8,360 8,019
Property, plant and equipment at cost 6,426 6,556
Accumulated depreciation (3,247) (3,157)
Property, plant and equipment, net 3,179 3,399
Long-term investments 212 216
Goodwill, net 4,362 4,362
Acquisition-related intangibles, net 2,142 2,223
Deferred income taxes 200 207
Capitalized software licenses, net 111 118
Overfunded retirement plans 129 130
Other assets 240 264
Total assets 18,935 18,938
Current liabilities:    
Current portion of long-term debt 1,000 1,000
Accounts payable 405 422
Accrued compensation 364 554
Income taxes payable 101 119
Deferred income taxes 1 1
Accrued expenses and other liabilities 600 651
Total current liabilities 2,471 2,747
Long-term debt 4,652 4,158
Underfunded retirement plans 218 216
Deferred income taxes 536 548
Deferred credits and other liabilities 438 462
Total liabilities 8,315 8,131
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 1,181 1,211
Retained earnings 28,331 28,173
Treasury common stock at cost. Shares: March 31, 2014 – 661,464,745; December 31, 2013 – 658,012,970 (20,113) (19,790)
Accumulated other comprehensive income (loss), net of taxes (AOCI) (520) (528)
Total stockholders’ equity 10,620 10,807
Total liabilities and stockholders’ equity $ 18,935 $ 18,938