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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Jan. 01, 2023
Jan. 02, 2022
Cash flows from operating activities      
Net earnings $ 35,153 $ 17,941 $ 20,878
Adjustments to reconcile net earnings to cash flows from operating activities:      
Depreciation and amortization of property and intangibles 7,486 6,970 7,390
Stock based compensation 1,162 1,138 1,135
Asset write-downs 1,295 1,216 989
Charge for purchase of in-process research and development assets 483 0 0
(Gain) on separation of Kenvue (20,984) 0 0
Net gain on sale of assets/businesses (117) (380) (617)
Deferred tax provision (4,194) (1,663) (2,079)
Credit losses and accounts receivable allowances 0 (17) (48)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:      
Increase in accounts receivable (624) (1,290) (2,402)
Increase in inventories (1,323) (2,527) (1,248)
Increase in accounts payable and accrued liabilities 2,346 1,098 2,437
(Increase)/Decrease in other current and non-current assets (3,480) 687 (1,964)
Increase/(Decrease) in other current and non-current liabilities 5,588 (1,979) (1,061)
Net cash flows from operating activities 22,791 21,194 23,410
Cash flows from investing activities      
Additions to property, plant and equipment (4,543) (4,009) (3,652)
Proceeds from the disposal of assets/businesses, net 358 543 711
Acquisitions, net of cash acquired 0 (17,652) (60)
Purchases of in-process research and development assets (470) 0 0
Purchases of investments (10,906) (32,384) (30,394)
Sales of investments 19,390 41,609 25,006
Credit support agreements activity, net (2,963) (249) 214
Other (including capitalized licenses and milestones) 12 (229) (508)
Net cash from/(used) by investing activities 878 (12,371) (8,683)
Cash flows from financing activities      
Dividends to shareholders (11,770) (11,682) (11,032)
Repurchase of common stock (5,054) (6,035) (3,456)
Proceeds from short-term debt 13,743 16,134 1,997
Repayment of short-term debt (22,973) (6,550) (1,190)
Proceeds from long-term debt, net of issuance costs 0 2 5
Repayment of long-term debt (1,551) (2,134) (1,802)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 1,094 1,329 1,036
Credit support agreements activity, net (219) (28) 281
Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation 8,047 0 0
Proceeds from Kenvue initial public offering 4,241 0 0
Cash transferred to Kenvue at separation (1,114) 0 0
Other (269) 93 114
Net cash used by financing activities (15,825) (8,871) (14,047)
Effect of exchange rate changes on cash and cash equivalents (112) (312) (178)
Increase/(Decrease) in cash and cash equivalents 7,732 (360) 502
Cash and cash equivalents from continuing operations, beginning of period 12,889 13,309 12,697
Cash and cash equivalents from discontinued operations, beginning of period 1,238 1,178 1,288
Cash and cash equivalents, beginning of year 14,127 14,487 13,985
Cash and cash equivalents from continuing operations, end of period 21,859 12,889 13,309
Cash and cash equivalents from discontinued operations, end of period 0 1,238 1,178
Cash and cash equivalents, end of year 21,859 14,127 14,487
Cash paid during the year for:      
Interest 1,836 982 990
Interest, net of amount capitalized 1,766 933 941
Income taxes, inclusive of discontinued operations 8,574 5,223 4,768
Supplemental schedule of non-cash investing and financing activities      
Treasury stock issued for employee compensation and stock option plans, net of cash proceeds/ employee withholding tax on stock awards 1,435 2,114 1,811
Acquisitions      
Fair value of assets acquired 0 18,710 61
Fair value of liabilities assumed 0 (1,058) (1)
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed), Total $ 0 $ 17,652 $ 60