Most recent buyback authorization, in millions 2012 R&D spending 2012 Net income Microsoft Coca-Cola Home Depot Walt Disney Merck IBM $40,000 $18,920 $17,000 $16,027 $15,000 $15,000 $16,978 $9,019 $3,883 $5,682 $6,168 $16,604 $9,811 $8,168 $6,034 Cisco Systems JPMorgan Chase Wal-Mart Johnson & Johnson AT&T Goldman Sachs $15,000 $15,000 $15,000 $12,900 $11,007 $10,808 $8,041 $21,284 $15,699 $10,853 $7,264 $7,475 $5,488 $8,828 $1,278 Intel Pfizer General Electric American Express Nike 3M $10,000 $10,000 $10,000 $9,933 $8,000 $7,500 $11,005 $14,570 $13,641 $4,482 $2,223 $4,444 $10,148 $7,870 $4,520 $1,634 UnitedHealth United Tech Travelers Visa Verizon Du Pont $6,860 $5,390 $5,000 $5,000 $1,652 $1,000 $5,526 $5,130 $2,473 $2,144 $875 $2,788 $2,371 $2,067

SOURCE: Birinyi Associates and S&P Capital IQ.