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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents [1] $ 2,041 $ 3,581
Accounts receivable, less allowance for doubtful accounts of $18 in 2023 and $19 in 2022 1,304 1,215
Inventories 2,564 2,345
Other current assets 434 365
Total current assets 6,343 7,506
Property, plant and equipment, less accumulated depreciation of $2,594 in 2023 and $2,297 in 2022 3,204 2,753
Operating lease right of use assets 230 220
Goodwill 2,759 2,746
Identifiable intangible assets, less accumulated amortization 1,338 1,380
Noncurrent deferred tax assets 206 173
Other noncurrent assets 206 147
Total assets 14,286 14,925 Close
Liabilities and Equity    
Short-term borrowings 3 2
Current portion of long-term debt 0 1,350
Accounts payable 411 405
Dividends payable 198 174
Accrued expenses 683 682
Accrued compensation and related items 382 300
Income taxes payable 110 157
Other current liabilities 102 97
Total current liabilities 1,889 3,167
Long-term debt, net of discount and issuance costs 6,564 6,552
Noncurrent deferred tax liabilities 146 142
Operating lease liabilities 188 186
Other taxes payable 271 258
Other noncurrent liabilities 237 217
Total liabilities 9,295 10,522 Close
Common stock, $0.01 par value: 6,000,000,000 authorized, 501,891,243 and 501,891,243 shares issued; 458,367,358 and 463,808,059 shares outstanding at December 31, 2023 and 2022, respectively 5 5 Close
Treasury stock, at cost, 43,523,885 and 38,083,184 shares of common stock at December 31, 2023 and 2022, respectively (5,597) (4,539)
Additional paid-in capital 1,133 1,088
Retained earnings 10,295 8,668
Accumulated other comprehensive loss (839) (817)
Stockholders' Equity Attributable to Parent 4,997 4,405
Stockholders' Equity Attributable to Noncontrolling Interest (6) (2)
Total equity 4,991 4,403 Close
Total liabilities and equity $ 14,286 $ 14,925
[1] As of December 31, 2023 and 2022, includes $2 million and $4 million, respectively, of restricted cash.