Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 2,763	$ 3,200
Short-term investments	2,242	4,380
Accounts receivable, net of allowances of ($16) and ($21)	1,860	1,719
Raw materials	393	395
Work in process	2,370	2,214
Finished goods	1,924	1,918
Inventories	4,687	4,527
Prepaid expenses and other current assets	1,534	1,200
Total current assets	13,086	15,026
Property, plant and equipment at cost	16,036	15,254
Accumulated depreciation	(4,225)	(3,907)
Property, plant and equipment	11,811	11,347
Goodwill	4,362	4,362
Deferred tax assets	1,030	936
Capitalized software licenses	263	257
Overfunded retirement plans	240	233
Other long-term assets	2,965	3,348
Total assets	33,757	35,509
Current liabilities:
Current portion of long-term debt	0	750
Accounts payable	866	820
Accrued compensation	418	839
Income taxes payable	284	159
Accrued expenses and other liabilities	921	1,075
Total current liabilities	2,489	3,643
Long-term debt	12,848	12,846
Underfunded retirement plans	115	110
Deferred tax liabilities	56	53
Other long-term liabilities	1,843	1,954
Total liabilities	17,351	18,606
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	4,058	3,935
Retained earnings	52,196	52,262
Treasury common stock at cost Shares: March 31, 2025 – 832; December 31, 2024 – 830	(41,442)	(40,895)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(147)	(140)
Total stockholders’ equity	16,406	16,903
Total liabilities and stockholders’ equity	$ 33,757	$ 35,509