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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 2,442 $ 3,107
Short-term investments 4,244 3,461
Accounts receivable, net of allowances of ($9) and ($11) 1,584 1,414
Raw materials 183 180
Work in process 980 964
Finished goods 727 811
Inventories 1,890 1,955
Prepaid expenses and other current assets 245 302
Total current assets 10,405 10,239
Property, plant and equipment at cost 5,967 5,781
Accumulated depreciation (2,536) (2,512)
Property, plant and equipment 3,431 3,269
Goodwill 4,362 4,362
Acquisition-related intangibles 105 152
Deferred tax assets 331 343
Capitalized software licenses 113 122
Overfunded retirement plans 235 246
Other long-term assets 657 618
Total assets 19,639 19,351
Current liabilities:    
Current portion of long-term debt 0 550
Accounts payable 567 415
Accrued compensation 388 767
Income taxes payable 278 134
Accrued expenses and other liabilities 467 524
Total current liabilities 1,700 2,390
Long-term debt 6,250 6,248
Underfunded retirement plans 130 131
Deferred tax liabilities 88 90
Other long-term liabilities 1,305 1,305
Total liabilities 9,473 10,164
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 2,391 2,333
Retained earnings 42,860 42,051
Treasury common stock at cost: Shares: March 31, 2021 – 817,573,099; December 31, 2020 – 821,461,787 (36,479) (36,578)
Accumulated other comprehensive income (loss), net of taxes (AOCI) (347) (360)
Total stockholders’ equity 10,166 9,187
Total liabilities and stockholders’ equity $ 19,639 $ 19,351