Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,281	$ 1,000
Short-term investments	1,519	2,218
Accounts receivable, net of allowances of ($11) and ($7)	1,269	1,165
Raw materials	105	109
Work in process	888	846
Finished goods	812	736
Inventories	1,805	1,691
Prepaid expenses and other current assets	785	1,000
Total current assets	6,659	7,074
Property, plant and equipment at cost	5,290	5,465
Accumulated depreciation	(2,736)	(2,869)
Property, plant and equipment, net	2,554	2,596
Long-term investments	220	221
Goodwill, net	4,362	4,362
Acquisition-related intangibles, net	1,503	1,583
Deferred income taxes	175	201
Capitalized software licenses, net	53	46
Overfunded retirement plans	84	85
Other assets	76	62
Total assets	15,686	16,230
Current liabilities:
Current portion of long-term debt	1,249	1,000
Accounts payable	387	386
Accrued compensation	340	664
Income taxes payable	67	95
Accrued expenses and other liabilities	377	410
Total current liabilities	2,420	2,555
Long-term debt	2,869	3,120
Underfunded retirement plans	195	196
Deferred income taxes	38	37
Deferred credits and other liabilities	382	376
Total liabilities	5,904	6,284
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	1,558	1,629
Retained earnings	31,457	31,176
Treasury common stock at cost Shares: March 31, 2016 – 734,244,179; December 31, 2015 – 729,547,527	(24,443)	(24,068)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(531)	(532)
Total stockholders’ equity	9,782	9,946
Total liabilities and stockholders’ equity	$ 15,686	$ 16,230