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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 24, 2016
Operating activities:    
Net income $ 375 $ 381
Less: Income from discontinued operations, net of tax 0 (63)
Income from continuing operations 375 318
Depreciation of property, plant and equipment 84 81
Amortization of intangibles and other assets 25 21
Deferred income tax provision 31 29
Stock-based employee compensation expense 28 19
Contributions to employee savings plans in common stock 60 58
Amortization of pension and postretirement benefit plans net loss and prior service cost 30 25
Amortization of bond discounts and deferred debt issue costs (included in interest expense) 3 4
Gain on sale of property, plant and equipment (42) (6)
Other non-cash items 3 22
Changes in operating assets and liabilities, excluding amounts from acquisitions and divestitures, and discontinued operations:    
Billed receivables (105) (62)
Contracts in process (143) (84)
Inventories (12) (24)
Other assets (9) (5)
Accounts payable, trade 50 118
Accrued employment costs (24) (23)
Accrued expenses 39 (2)
Advance payments and billings in excess of costs incurred (8) (111)
Income taxes (6) 25
Other current liabilities (18) (10)
Pension and postretirement benefits 9 0
All other operating activities (19) (17)
Net cash from operating activities from continuing operations 351 376
Investing activities:    
Business acquisitions, net of cash acquired (191) (27)
Proceeds from the sale of businesses, net of closing date cash balances 16 575
Capital expenditures (98) (75)
Dispositions of property, plant and equipment 65 11
Other investing activities (1) 6
Net cash (used in) from investing activities from continuing operations (209) 490
Financing activities:    
Borrowings under revolving credit facility 1,158 320
Repayments of borrowings under revolving credit facility (1,158) (320)
Redemption of senior notes 0 (305)
Common stock repurchased (26) (276)
Dividends paid (119) (112)
Proceeds from exercises of stock options 25 38
Proceeds from employee stock purchase plan 16 16
Repurchases of common stock to satisfy tax withholding obligations (18) (20)
Other financing activities (8) (6)
Net cash used in financing activities from continuing operations (130) (665)
Effect of foreign currency exchange rate changes on cash and cash equivalents 10 0
Net cash used in operating activities from discontinued operations 0 (56)
Net increase in cash and cash equivalents 22 145
Cash and cash equivalents, beginning of the period 363 207
Cash and cash equivalents, end of the period $ 385 $ 352