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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Oct. 02, 2016
Sep. 27, 2015
Operating Activities    
Net income before allocation to noncontrolling interests $ 665 $ 319
Adjustments to reconcile net income before noncontrolling interests to net cash provided by operating activities:    
Depreciation and amortization expense [1],[2] 177 144
Share-based compensation expense 28 31
Restructuring, net of payments (15) 207
Asset write-offs and asset impairments 2 48
Gains on sales of assets (27) 0
Provision for losses on inventory 65 59
Deferred taxes (52) (81)
Employee benefit plan contribution from Pfizer Inc. 2 2
Other non-cash adjustments 13 11
Other changes in assets and liabilities, net of acquisitions and divestitures    
Accounts receivable 44 (150)
Inventories (133) (201)
Other assets (53) (64)
Accounts payable (56) 30
Other liabilities (291) (37)
Other tax accounts, net 58 68
Net cash provided by operating activities 427 386
Investing Activities    
Purchases of property, plant and equipment (156) (143)
Acquisitions (88) (229)
Net proceeds from sales of assets 89 2
Other investing activities 0 (8)
Net cash used in investing activities (155) (378)
Financing Activities    
Increase (decrease) in short-term borrowings, net (5) 2
Principal payments on long-term debt (400) 0
Payment of contingent consideration related to previously acquired assets (28) 0
Share-based compensation-related proceeds, net of taxes paid on withholding shares and excess tax benefits [3] 24 4
Purchases of treasury stock [4] (225) (150)
Cash dividends paid (141) (127)
Net cash used in financing activities (775) (271)
Effect of exchange-rate changes on cash and cash equivalents 0 (27)
Net decrease in cash and cash equivalents (503) (290)
Cash and cash equivalents at beginning of period 1,154 882
Cash and cash equivalents at end of period 651 592
Cash paid during the period for:    
Income taxes 295 175
Interest, net of capitalized interest 140 117
Non-cash transactions:    
Purchases of property, plant and equipment 16 12
Contingent purchase price consideration $ 29 $ 22
[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.