Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 3,505	$ 4,631
Short-term investments	6,320	5,108
Accounts receivable, net of allowances of ($9) and ($8)	1,795	1,701
Raw materials	265	245
Work in process	1,151	1,067
Finished goods	644	598
Inventories	2,060	1,910
Prepaid expenses and other current assets	330	335
Total current assets	14,010	13,685
Property, plant and equipment at cost	8,236	7,858
Accumulated depreciation	(2,797)	(2,717)
Property, plant and equipment	5,439	5,141
Goodwill	4,362	4,362
Deferred tax assets	273	263
Capitalized software licenses	91	85
Overfunded retirement plans	383	392
Other long-term assets	718	748
Total assets	25,276	24,676
Current liabilities:
Current portion of long-term debt	500	500
Accounts payable	641	571
Accrued compensation	386	775
Income taxes payable	405	121
Accrued expenses and other liabilities	596	602
Total current liabilities	2,528	2,569
Long-term debt	7,242	7,241
Underfunded retirement plans	81	79
Deferred tax liabilities	94	87
Other long-term liabilities	1,314	1,367
Total liabilities	11,259	11,343
Stockholders’ equity:
Preferred stock, $25 par value. Shares authorized – 10; none issued	0	0
Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741	1,741	1,741
Paid-in capital	2,667	2,630
Retained earnings	47,053	45,919
Treasury common stock at cost: Shares: March 31, 2022 – 0; December 31, 2021 – 817	(37,291)	(36,800)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(153)	(157)
Total stockholders’ equity	14,017	13,333
Total liabilities and stockholders’ equity	$ 25,276	$ 24,676