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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Apr. 03, 2016
Mar. 29, 2015
Operating Activities    
Net income before allocation to noncontrolling interests $ 204 $ 165
Adjustments to reconcile net income before noncontrolling interests to net cash provided by operating activities:    
Depreciation and amortization expense [1],[2] 57 48
Share-based compensation expense 9 10
Restructuring, net of payments 2 0
Asset write-offs and asset impairments 0 1
Gains on sales of assets (33) 0
Provision for losses on inventory 16 18
Deferred taxes (25) (3)
Employee benefit plan contribution from Pfizer Inc. 1 1
Other non-cash adjustments 1 3
Other changes in assets and liabilities, net of acquisitions and divestitures    
Accounts receivable 21 (4)
Inventories (3) (77)
Other assets (36) (5)
Accounts payable (84) (26)
Other liabilities (193) (82)
Other tax accounts, net 114 11
Net cash provided by operating activities 51 60
Investing Activities    
Purchases of property, plant and equipment (45) (45)
Acquisitions (12) (230)
Net proceeds from sales of assets 75 1
Net cash provided by (used in) investing activities 18 (274)
Financing Activities    
Decrease in short-term borrowings, net (1) (5)
Principal payments on long-term debt (400) 0
Payment of contingent consideration related to previously acquired assets (22) 0
Share-based compensation-related proceeds, net of taxes paid on withholding shares and excess tax benefits(b) [3] 3 1
Purchases of treasury stock [4] (76) (48)
Cash dividends paid (47) (42)
Net cash used in financing activities (543) (94)
Effect of exchange-rate changes on cash and cash equivalents (5) (15)
Net decrease in cash and cash equivalents (479) (323)
Cash and cash equivalents at beginning of period 1,154 882
Cash and cash equivalents at end of period 675 559
Cash paid during the period for:    
Income taxes 49 52
Interest, net of capitalized interest 58 58
Non-cash transactions:    
Purchases of property, plant and equipment 9 10
Contingent purchase price consideration 27 22
Dividends declared, not paid $ 49 $ 42
[1] Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized.
[2] Defined as income before provision for taxes on income.
[3] Effective 2016, excess tax benefits are reflected within operating activities. See Note 3. Significant Accounting Policies for additional information.
[4] Reflects the acquisition of treasury shares in connection with the share repurchase program. For additional information, see Note 13. Stockholders' Equity.