CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 5,324	$ 6,343
Short-term investments	2,318	1,978
Accounts and notes receivable, less allowance for doubtful accounts of $87 and $72	3,134	4,413
Inventories	1,224	1,276
Deferred income taxes	1,088	1,070
Other current assets	649	653
Total current assets	13,737	15,733
Long-term investments	6,642	6,334
Property, plant and equipment, net	3,791	3,766
Intangible assets, net	2,239	2,125
Goodwill	17,083	16,134
Other assets, net	1,853	1,767
Total assets	45,345	45,859
Current liabilities:
Accounts payable	1,115	1,696
Accrued expenses	2,831	3,141
Income taxes payable	208	852
Short-term debt (See Note 4)	1,970	0
Deferred revenue	6,187	6,021
Total current liabilities	12,311	11,710
Income taxes payable	380	306
Deferred revenue	4,436	4,144
Deferred income taxes	317	274
Long-term debt (See Note 4)	5,474	5,469
Other liabilities	472	431
Total liabilities	$ 23,390	$ 22,334
Commitments and contingencies (See Note 13)
Shareholders’ equity:
Preferred stock, par value $0.01; authorized 25 shares; none outstanding	$ 0	$ 0
Common stock, par value $0.01; authorized 6,000 shares; issued and outstanding 1,939 and 1,985 shares	19	20
Additional paid-in capital	0	0
Retained earnings	20,958	22,242
Accumulated other comprehensive loss, net	(533)	(366)
Total EMC Corporation’s shareholders’ equity	20,444	21,896
Non-controlling interests	1,511	1,629
Total shareholders’ equity	21,955	23,525
Total liabilities and shareholders’ equity	$ 45,345	$ 45,859

The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively.

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- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).