Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 3,893	$ 2,438
Short-term investments	1,174	1,795
Accounts receivable, net of allowances of ($13) and ($19)	1,342	1,207
Raw materials	175	181
Work in process	955	1,070
Finished goods	910	966
Inventories	2,040	2,217
Prepaid expenses and other current assets	264	440
Total current assets	8,713	8,097
Property, plant and equipment at cost	5,683	5,425
Accumulated depreciation	(2,365)	(2,242)
Property, plant and equipment	3,318	3,183
Long-term investments	298	251
Goodwill	4,362	4,362
Acquisition-related intangibles	390	628
Deferred tax assets	257	295
Capitalized software licenses	77	89
Overfunded retirement plans	106	92
Other long-term assets	471	140
Total assets	17,992	17,137
Current liabilities:
Current portion of long-term debt	499	749
Accounts payable	397	478
Accrued compensation	609	724
Income taxes payable	58	103
Accrued expenses and other liabilities	444	420
Total current liabilities	2,007	2,474
Long-term debt	5,302	4,319
Underfunded retirement plans	123	118
Deferred tax liabilities	49	42
Other long-term liabilities	1,526	1,190
Total liabilities	9,007	8,143
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	2,058	1,950
Retained earnings	39,674	37,906
Treasury common stock at cost shares: September 30, 2019 - 805,637,804; December 31, 2018 - 795,665,646	(34,045)	(32,130)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(443)	(473)
Total stockholders’ equity	8,985	8,994
Total liabilities and stockholders’ equity	$ 17,992	$ 17,137