Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,154	$ 1,000
Short-term investments	2,336	2,218
Accounts receivable, net of allowances of ($17) and ($7)	1,267	1,165
Raw materials	102	109
Work in process	954	846
Finished goods	734	736
Inventories	1,790	1,691
Prepaid expenses and other current assets	910	1,000
Total current assets	7,457	7,074
Property, plant and equipment at cost	4,923	5,465
Accumulated depreciation	(2,411)	(2,869)
Property, plant and equipment, net	2,512	2,596
Long-term investments	235	221
Goodwill, net	4,362	4,362
Acquisition-related intangibles, net	1,264	1,583
Deferred income taxes	374	201
Capitalized software licenses, net	52	46
Overfunded retirement plans	96	85
Other assets	79	62
Total assets	16,431	16,230
Current liabilities:
Current portion of long-term debt	631	1,000
Accounts payable	396	386
Accrued compensation	710	664
Income taxes payable	83	95
Accrued expenses and other liabilities	444	410
Total current liabilities	2,264	2,555
Long-term debt	2,978	3,120
Underfunded retirement plans	129	196
Deferred income taxes	33	37
Deferred credits and other liabilities	554	376
Total liabilities	5,958	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	1,674	1,629
Retained earnings	33,107	31,176
Treasury common stock at cost Shares: 2016 – 744,831,978; 2015 – 729,547,527	(25,523)	(24,068)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(526)	(532)
Total stockholders’ equity	10,473	9,946
Total liabilities and stockholders’ equity	$ 16,431	$ 16,230