Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 2,919	$ 1,656
Short-term investments	2,211	2,813
Accounts receivable, net of allowances of ($9) and ($8)	1,551	1,278
Raw materials	155	126
Work in process	1,079	1,089
Finished goods	856	742
Inventories	2,090	1,957
Prepaid expenses and other current assets	821	1,030
Total current assets	9,592	8,734
Property, plant and equipment at cost	5,025	4,789
Accumulated depreciation	(2,170)	(2,125)
Property, plant and equipment	2,855	2,664
Long-term investments	271	268
Goodwill	4,362	4,362
Acquisition-related intangibles	787	946
Deferred tax assets	205	264
Capitalized software licenses	101	110
Overfunded retirement plans	205	208
Other long-term assets	149	86
Total assets	18,527	17,642
Current liabilities:
Current portion of long-term debt	0	500
Accounts payable	492	466
Accrued compensation	472	722
Income taxes payable	120	128
Accrued expenses and other liabilities	382	442
Total current liabilities	1,466	2,258
Long-term debt	5,066	3,577
Underfunded retirement plans	82	89
Deferred tax liabilities	50	78
Other long-term liabilities	1,229	1,303
Total liabilities	7,893	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	1,867	1,776
Retained earnings	36,413	34,662
Treasury common stock at cost Shares: June 30, 2018 – 766,450,417; December 31, 2017 – 757,657,217	(29,016)	(27,458)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(371)	(384)
Total stockholders’ equity	10,634	10,337
Total liabilities and stockholders’ equity	$ 18,527	$ 17,642