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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 2,330 $ 2,971
Marketable securities 77 82
Accounts receivable, less allowance of $175 ($182 in 2023) 3,473 3,765
Inventories:    
Materials and supplies 1,232 1,242
Work in process 372 330
Finished goods 3,422 3,271
Total inventories 5,026 4,843
Prepaid expenses and other current assets 986 857
Total current assets 11,892 12,518
Property, plant and equipment:    
Land, buildings and improvements 1,686 1,692
Machinery and equipment 4,772 4,652
Total property, plant and equipment 6,458 6,344
Less allowance for depreciation 3,198 3,129
Property, plant and equipment, net 3,260 3,215
Goodwill 15,351 15,243
Other intangibles, net 4,509 4,593
Noncurrent deferred income tax assets 1,641 1,670
Other noncurrent assets 2,749 2,673
Total assets 39,402 39,912 Close
Current liabilities    
Accounts payable 1,246 1,517
Accrued compensation 778 1,478
Income taxes 444 391
Dividends payable 305 304
Accrued expenses and other liabilities 2,124 2,137
Current maturities of debt 2,058 2,094
Total current liabilities 6,955 7,921
Long-term debt, excluding current maturities 10,807 10,901
Income taxes 565 567
Other noncurrent liabilities 1,903 1,930
Total liabilities 20,230 21,319 Close
Shareholders' equity    
Common stock, $0.10 par value 38 38
Additional paid-in capital 2,257 2,200
Retained earnings 17,254 16,771
Accumulated other comprehensive loss (377) (416)
Total shareholders' equity 19,172 18,593 Close
Total liabilities and shareholders' equity $ 39,402 $ 39,912