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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Operating activities    
Net income (loss) $ 53 $ 95
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 59 49
Pension and postretirement plan benefit (21) (52)
Deferred income taxes (7) 0
Stock compensation 11 3
Restructuring Costs 38 0
Other 3 2
Pension plan contributions (17) (1)
Changes in operating assets and liabilities:    
Trade receivables 56 (92)
Inventories 5 106
Accounts payable (37) 9
Due to/from related parties 0 13
Income taxes payable 5 0
Accrued advertising and promotion (28) 22
Accrued salaries and wages (5) 22
All other current assets and liabilities (26) 23
All other noncurrent assets and liabilities 9 (15)
Net cash provided by (used in) operating activities 98 184
Investing activities    
Additions to properties (96) (93)
Other 2 0
Property damage recoveries from insurance proceeds 0 4
Net cash provided by (used in) investing activities (94) (89)
Financing activities    
Proceeds from borrowings under the Credit Agreement 0 664
Repayment of borrowings under the Credit Agreement (9) 0
Payment of financing fees 0 (7)
Repayment of notes payables, with maturities less than 90 days (2) 0
Net transfer (to)/from Kellanova 0 (25)
Net issuances of common stock 3 0
Dividend to Kellanova 0 (663)
Dividends paid (41) 0
Other 5 0
Net cash provided by (used in) financing activities (44) (31)
Effect of exchange rate changes on cash and cash equivalents (2) 0
Increase (decrease) in cash and cash equivalents (42) 64
Cash and cash equivalents at beginning of period 89 0
Cash and cash equivalents at end of period 47 64
Supplemental cash flow disclosures of non-cash investing and financing activities:    
Additions to properties included in accounts payable 20 27
Contribution of certain assets and liabilities to WK Kellogg Co by Kellanova $ 0 $ 143