Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 1,717	$ 1,656
Short-term investments	2,362	2,813
Accounts receivable, net of allowances of ($8) and ($8)	1,454	1,278
Raw materials	144	126
Work in process	1,076	1,089
Finished goods	812	742
Inventories	2,032	1,957
Prepaid expenses and other current assets	1,025	1,030
Total current assets	8,590	8,734
Property, plant and equipment at cost	4,907	4,789
Accumulated depreciation	(2,171)	(2,125)
Property, plant and equipment	2,736	2,664
Long-term investments	271	268
Goodwill	4,362	4,362
Acquisition-related intangibles	866	946
Deferred tax assets	218	264
Capitalized software licenses	102	110
Overfunded retirement plans	215	208
Other long-term assets	147	86
Total assets	17,507	17,642
Current liabilities:
Current portion of long-term debt	500	500
Accounts payable	488	466
Accrued compensation	344	722
Income taxes payable	133	128
Accrued expenses and other liabilities	395	442
Total current liabilities	1,860	2,258
Long-term debt	3,578	3,577
Underfunded retirement plans	92	89
Deferred tax liabilities	53	78
Other long-term liabilities	1,282	1,303
Total liabilities	6,865	7,305
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	1,770	1,776
Retained earnings	35,619	34,662
Treasury common stock at cost Shares: March 31, 2018 – 759,098,020; December 31, 2017 – 757,657,217	(28,096)	(27,458)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(392)	(384)
Total stockholders’ equity	10,642	10,337
Total liabilities and stockholders’ equity	$ 17,507	$ 17,642