Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 5,663	$ 3,107
Short-term investments	4,119	3,461
Accounts receivable, net of allowances of ($9) and ($11)	1,653	1,414
Raw materials	224	180
Work in process	1,034	964
Finished goods	605	811
Inventories	1,863	1,955
Prepaid expenses and other current assets	287	302
Total current assets	13,585	10,239
Property, plant and equipment at cost	6,661	5,781
Accumulated depreciation	(2,640)	(2,512)
Property, plant and equipment	4,021	3,269
Goodwill	4,362	4,362
Acquisition-related intangibles	9	152
Deferred tax assets	309	343
Capitalized software licenses	88	122
Overfunded retirement plans	252	246
Other long-term assets	647	618
Total assets	23,273	19,351
Current liabilities:
Current portion of long-term debt	500	550
Accounts payable	596	415
Accrued compensation	665	767
Income taxes payable	101	134
Accrued expenses and other liabilities	551	524
Total current liabilities	2,413	2,390
Long-term debt	7,239	6,248
Underfunded retirement plans	129	131
Deferred tax liabilities	86	90
Other long-term liabilities	1,255	1,305
Total liabilities	11,122	10,164
Stockholders’ equity:
Preferred stock, $25 par value. Authorized – 10,000,000 shares; 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	2,563	2,333
Retained earnings	44,847	42,051
Treasury common stock at cost: Shares: June 30, 2021 – 817,729,258; December 31, 2020 – 821,461,787	(36,687)	(36,578)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(313)	(360)
Total stockholders’ equity	12,151	9,187
Total liabilities and stockholders’ equity	$ 23,273	$ 19,351