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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 1,216 $ 1,627
Short-term investments 1,588 2,202
Accounts receivable, net of allowances of ($14) and ($22) 1,527 1,203
Raw materials 93 102
Work in process 894 919
Finished goods 757 710
Inventories 1,744 1,731
Deferred income taxes 389 393
Prepaid expenses and other current assets 992 863
Total current assets 7,456 8,019
Property, plant and equipment at cost 6,452 6,556
Accumulated depreciation (3,408) (3,157)
Property, plant and equipment, net 3,044 3,399
Long-term investments 219 216
Goodwill, net 4,362 4,362
Acquisition-related intangibles, net 2,062 2,223
Deferred income taxes 194 207
Capitalized software licenses, net 101 118
Overfunded retirement plans 126 130
Other assets 246 264
Total assets 17,810 18,938
Current liabilities:    
Current portion of long-term debt 254 1,000
Accounts payable 402 422
Accrued compensation 484 554
Income taxes payable 109 119
Deferred income taxes 2 1
Accrued expenses and other liabilities 552 651
Total current liabilities 1,803 2,747
Long-term debt 4,394 4,158
Underfunded retirement plans 224 216
Deferred income taxes 484 548
Deferred credits and other liabilities 439 462
Total liabilities 7,344 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 1,273 1,211
Retained earnings 28,686 28,173
Treasury common stock at cost. Shares: June 30, 2014 – 673,260,360; December 31, 2013 – 658,012,970 (20,722) (19,790)
Accumulated other comprehensive income (loss), net of taxes (AOCI) (512) (528)
Total stockholders’ equity 10,466 10,807
Total liabilities and stockholders’ equity $ 17,810 $ 18,938