Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 3,813	$ 2,438
Short-term investments	405	1,795
Accounts receivable, net of allowances of ($15) and ($19)	1,419	1,207
Raw materials	176	181
Work in process	958	1,070
Finished goods	945	966
Inventories	2,079	2,217
Prepaid expenses and other current assets	240	440
Total current assets	7,956	8,097
Property, plant and equipment at cost	5,706	5,425
Accumulated depreciation	(2,341)	(2,242)
Property, plant and equipment	3,365	3,183
Long-term investments	300	251
Goodwill	4,362	4,362
Acquisition-related intangibles	469	628
Deferred tax assets	261	295
Capitalized software licenses	88	89
Overfunded retirement plans	104	92
Other long-term assets	479	140
Total assets	17,384	17,137
Current liabilities:
Current portion of long-term debt	1,249	749
Accounts payable	412	478
Accrued compensation	476	724
Income taxes payable	87	103
Accrued expenses and other liabilities	422	420
Total current liabilities	2,646	2,474
Long-term debt	4,558	4,319
Underfunded retirement plans	121	118
Deferred tax liabilities	49	42
Other long-term liabilities	1,524	1,190
Total liabilities	8,898	8,143
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	2,003	1,950
Retained earnings	38,974	37,906
Treasury common stock at cost shares: June 30, 2019 - 806,251,136; December 31, 2018 - 795,665,646	(33,775)	(32,130)
Accumulated other comprehensive income (loss), net of taxes (AOCI)	(457)	(473)
Total stockholders’ equity	8,486	8,994
Total liabilities and stockholders’ equity	$ 17,384	$ 17,137