Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,296	$ 1,154
Short-term investments	2,148	2,336
Accounts receivable, net of allowances of ($14) and ($17)	1,576	1,267
Raw materials	120	102
Work in process	1,103	954
Finished goods	685	734
Inventories	1,908	1,790
Prepaid expenses and other current assets	1,063	910
Total current assets	7,991	7,457
Property, plant and equipment at cost	4,668	4,923
Accumulated depreciation	(2,101)	(2,411)
Property, plant and equipment, net	2,567	2,512
Long-term investments	258	235
Goodwill, net	4,362	4,362
Acquisition-related intangibles, net	1,025	1,264
Deferred income taxes	414	374
Capitalized software licenses, net	111	52
Overfunded retirement plans	112	96
Other assets	89	79
Total assets	16,929	16,431
Current liabilities:
Current portion of long-term debt	499	631
Accounts payable	430	396
Accrued compensation	635	710
Income taxes payable	74	83
Accrued expenses and other liabilities	417	444
Total current liabilities	2,055	2,264
Long-term debt	3,084	2,978
Underfunded retirement plans	108	129
Deferred income taxes	38	33
Deferred credits and other liabilities	656	554
Total liabilities	5,941	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	1,718	1,674
Retained earnings	34,935	33,107
Treasury common stock at cost Shares: September 30, 2017 – 754,459,144; December 31, 2016 – 744,831,978	(26,901)	(25,523)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(505)	(526)
Total stockholders’ equity	10,988	10,473
Total liabilities and stockholders’ equity	$ 16,929	$ 16,431