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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jul. 02, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 7,941 $ 5,076
Adjustments to reconcile net earnings to cash flows from operating activities:    
Depreciation and amortization of property and intangibles 3,597 3,814
Stock based compensation 643 688
Asset write-downs 379 388
Net gain on sale of assets/businesses (223) (47)
Deferred tax provision (2,257) (2,342)
Credit losses and accounts receivable allowances 0 0
Changes in assets and liabilities, net of effects from acquisitions and divestitures:    
Increase in accounts receivable (1,163) (599)
Increase in inventories (739) (741)
Increase/(Decrease) in accounts payable and accrued liabilities 449 (1,061)
Decrease/(Increase) in other current and non-current assets 3,731 (1,144)
(Decrease)/Increase in other current and non-current liabilities (3,068) 3,407
Net cash flows from operating activities 9,290 7,439
Cash flows from investing activities    
Additions to property, plant and equipment (1,783) (1,987)
Proceeds from the disposal of assets/businesses, net (Note 10) 573 116
Acquisitions, net of cash acquired (Note 10) (14,807) 0
Purchases of investments (1,184) (9,688)
Sales of investments 1,706 11,877
Credit support agreements activity, net 1,430 (798)
Other (including capitalized licenses and milestones) (86) 19
Net cash used by investing activities (14,151) (461)
Cash flows from financing activities    
Dividends to shareholders (5,854) (6,034)
Repurchase of common stock (1,611) (3,918)
Proceeds from short-term debt 13,976 12,221
Repayment of short-term debt (3,915) (13,611)
Proceeds from long-term debt, net of issuance costs 6,659 7,674
Repayment of long-term debt (803) (501)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 290 254
Credit support agreements activity, net 281 (126)
Settlement of convertible debt acquired from Shockwave (970) 0
Proceeds from Kenvue initial public offering 0 4,241
Other 37 (53)
Net cash flows from financing activities 8,090 147
Effect of exchange rate changes on cash and cash equivalents (210) (69)
Increase in cash and cash equivalents 3,019 7,056
Cash and cash equivalents from continuing operations, beginning of period 21,859 12,889
Cash and cash equivalents from discontinued operations, beginning of period 0 1,238
Cash and Cash equivalents beginning of period 21,859 14,127
Cash and cash equivalents from continuing operations, end of period 24,878 19,958
Cash and cash equivalents from discontinued operations, end of period 0 1,225
Cash and cash equivalents, end of period 24,878 21,183
Acquisitions (Note 10)    
Fair value of assets acquired 15,748 0
Fair value of liabilities assumed (1,629) 0
Net cash paid for acquisitions $ 14,119 $ 0