Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018		Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 2,438		$ 1,656
Short-term investments	1,795		2,813
Accounts receivable, net of allowances of ($19) and ($8)	1,207		1,278
Raw materials	181		126
Work in process	1,070		1,089
Finished goods	966		742
Inventories	2,217		1,957
Prepaid expenses and other current assets	440		1,030
Total current assets	8,097		8,734
Property, plant and equipment at cost	5,425		4,789
Accumulated depreciation	(2,242)		(2,125)
Property, plant and equipment	3,183		2,664
Long-term investments	251		268
Goodwill	4,362		4,362
Acquisition-related intangibles	628		946
Deferred tax assets	295		264
Capitalized software licenses	89		110
Overfunded retirement plans	92		208
Other long-term assets	140		86
Total assets	17,137		17,642
Current liabilities:
Current portion of long-term debt	749		500
Accounts payable	478		466
Accrued compensation	724		722
Income taxes payable	103		128
Accrued expenses and other liabilities	420		442
Total current liabilities	2,474		2,258
Long-term debt	4,319		3,577
Underfunded retirement plans	118		89
Deferred tax liabilities	42		78
Other long-term liabilities	1,190		1,303
Total liabilities	8,143		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	1,950		1,776
Retained earnings	37,906		34,662
Treasury common stock at cost Shares: 2018 – 795,665,646; 2017 – 757,657,217	(32,130)		(27,458)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(473)	[1]	(384)
Total stockholders’ equity	8,994		10,337
Total liabilities and stockholders’ equity	$ 17,137		$ 17,642

[1] Includes $30 million for the adoption of ASU 2018-02. See Note 2 for additional information.