Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,073	$ 1,154
Short-term investments	1,976	2,336
Accounts receivable, net of allowances of ($11) and ($17)	1,337	1,267
Raw materials	102	102
Work in process	1,017	954
Finished goods	724	734
Inventories	1,843	1,790
Prepaid expenses and other current assets	811	910
Total current assets	7,040	7,457
Property, plant and equipment at cost	4,833	4,923
Accumulated depreciation	(2,332)	(2,411)
Property, plant and equipment, net	2,501	2,512
Long-term investments	241	235
Goodwill, net	4,362	4,362
Acquisition-related intangibles, net	1,184	1,264
Deferred income taxes	361	374
Capitalized software licenses, net	116	52
Overfunded retirement plans	102	96
Other assets	71	79
Total assets	15,978	16,431
Current liabilities:
Current portion of long-term debt	378	631
Accounts payable	429	396
Accrued compensation	352	710
Income taxes payable	77	83
Accrued expenses and other liabilities	366	444
Total current liabilities	1,602	2,264
Long-term debt	2,980	2,978
Underfunded retirement plans	97	129
Deferred income taxes	36	33
Deferred credits and other liabilities	624	554
Total liabilities	5,339	5,958
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	1,597	1,674
Retained earnings	33,595	33,107
Treasury common stock at cost Shares: March 31, 2017 – 743,085,976; December 31, 2016 – 744,831,978	(25,767)	(25,523)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(527)	(526)
Total stockholders’ equity	10,639	10,473
Total liabilities and stockholders’ equity	$ 15,978	$ 16,431