Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,140	$ 1,154
Short-term investments	1,844	2,336
Accounts receivable, net of allowances of ($16) and ($17)	1,469	1,267
Raw materials	109	102
Work in process	1,099	954
Finished goods	739	734
Inventories	1,947	1,790
Prepaid expenses and other current assets	1,111	910
Total current assets	7,511	7,457
Property, plant and equipment at cost	4,656	4,923
Accumulated depreciation	(2,142)	(2,411)
Property, plant and equipment, net	2,514	2,512
Long-term investments	250	235
Goodwill, net	4,362	4,362
Acquisition-related intangibles, net	1,105	1,264
Deferred income taxes	412	374
Capitalized software licenses, net	114	52
Overfunded retirement plans	99	96
Other assets	71	79
Total assets	16,438	16,431
Current liabilities:
Current portion of long-term debt	499	631
Accounts payable	450	396
Accrued compensation	489	710
Income taxes payable	86	83
Accrued expenses and other liabilities	353	444
Total current liabilities	1,877	2,264
Long-term debt	3,084	2,978
Underfunded retirement plans	101	129
Deferred income taxes	33	33
Deferred credits and other liabilities	635	554
Total liabilities	5,730	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	1,683	1,674
Retained earnings	34,149	33,107
Treasury common stock at cost Shares: June 30, 2017 – 749,098,850; December 31, 2016 – 744,831,978	(26,345)	(25,523)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(520)	(526)
Total stockholders’ equity	10,708	10,473
Total liabilities and stockholders’ equity	$ 16,438	$ 16,431