Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,369	$ 1,000
Short-term investments	1,768	2,218
Accounts receivable, net of allowances of ($14) and ($7)	1,447	1,165
Raw materials	104	109
Work in process	949	846
Finished goods	755	736
Inventories	1,808	1,691
Prepaid expenses and other current assets	789	1,000
Total current assets	7,181	7,074
Property, plant and equipment at cost	4,982	5,465
Accumulated depreciation	(2,437)	(2,869)
Property, plant and equipment, net	2,545	2,596
Long-term investments	233	221
Goodwill, net	4,362	4,362
Acquisition-related intangibles, net	1,344	1,583
Deferred income taxes	355	201
Capitalized software licenses, net	50	46
Overfunded retirement plans	64	85
Other assets	82	62
Total assets	16,216	16,230
Current liabilities:
Current portion of long-term debt	634	1,000
Accounts payable	428	386
Accrued compensation	647	664
Income taxes payable	68	95
Accrued expenses and other liabilities	393	410
Total current liabilities	2,170	2,555
Long-term debt	2,977	3,120
Underfunded retirement plans	201	196
Deferred income taxes	35	37
Deferred credits and other liabilities	547	376
Total liabilities	5,930	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	1,757	1,629
Retained earnings	32,432	31,176
Treasury common stock at cost Shares: September 30, 2016 – 739,693,480; December 31, 2015 – 729,547,527	(25,102)	(24,068)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(542)	(532)
Total stockholders’ equity	10,286	9,946
Total liabilities and stockholders’ equity	$ 16,216	$ 16,230