v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 3,391 $ 4,011
Marketable securities 85 89
Accounts receivable, less allowance of $215 ($216 in 2025) 3,743 4,039
Inventories:    
Materials and supplies 1,436 1,349
Work in process 470 415
Finished goods 3,615 3,546
Total inventories 5,521 5,310
Prepaid expenses and other current assets 1,678 1,306
Total current assets 14,418 14,755
Property, plant and equipment:    
Land, buildings and improvements 1,814 1,793
Machinery and equipment 5,995 5,744
Total property, plant and equipment 7,809 7,537
Less allowance for depreciation 3,851 3,661
Property, plant and equipment, net 3,958 3,876
Goodwill 19,584 19,291
Other intangibles, net 5,742 5,681
Noncurrent deferred income tax assets 994 1,098
Other noncurrent assets 3,234 3,143
Total assets 47,930 47,844
Current liabilities    
Accounts payable 1,663 1,799
Accrued compensation 1,105 1,595
Income taxes 224 418
Dividends payable 338 337
Accrued expenses and other liabilities 2,604 2,645
Current maturities of debt 750 1,000
Total current liabilities 6,684 7,794
Long-term debt, excluding current maturities 14,192 14,859
Income taxes 406 402
Other noncurrent liabilities 2,660 2,369
Total liabilities 23,942 25,424
Shareholders' equity    
Common stock, $0.10 par value 38 38
Additional paid-in capital 2,711 2,597
Retained earnings 21,815 20,472
Accumulated other comprehensive loss (576) (687)
Total shareholders' equity 23,988 22,420
Total liabilities and shareholders' equity $ 47,930 $ 47,844