Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,235	$ 1,000
Short-term investments	1,304	2,218
Accounts receivable, net of allowances of ($20) and ($7)	1,348	1,165
Raw materials	104	109
Work in process	946	846
Finished goods	826	736
Inventories	1,876	1,691
Prepaid expenses and other current assets	926	1,000
Total current assets	6,689	7,074
Property, plant and equipment at cost	5,152	5,465
Accumulated depreciation	(2,595)	(2,869)
Property, plant and equipment, net	2,557	2,596
Long-term investments	224	221
Goodwill, net	4,362	4,362
Acquisition-related intangibles, net	1,424	1,583
Deferred income taxes	231	201
Capitalized software licenses, net	52	46
Overfunded retirement plans	85	85
Other assets	69	62
Total assets	15,693	16,230
Current liabilities:
Current portion of long-term debt	637	1,000
Accounts payable	416	386
Accrued compensation	493	664
Income taxes payable	58	95
Accrued expenses and other liabilities	387	410
Total current liabilities	1,991	2,555
Long-term debt	2,975	3,120
Underfunded retirement plans	193	196
Deferred income taxes	40	37
Deferred credits and other liabilities	532	376
Total liabilities	5,731	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	1,681	1,629
Retained earnings	31,850	31,176
Treasury common stock at cost Shares: June 30, 2016 – 737,467,669; December 31, 2015 – 729,547,527	(24,774)	(24,068)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(536)	(532)
Total stockholders’ equity	9,962	9,946
Total liabilities and stockholders’ equity	$ 15,693	$ 16,230