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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Jan. 03, 2020
Jun. 28, 2019
Jun. 29, 2018
Jun. 30, 2017
Operating Activities        
Net income $ 834 $ 949 $ 699 $ 543
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 442 258 259 311
Share-based compensation 227 141 82 42
Qualified pension plan contributions (328) (1) (301) (589)
Pension and other postretirement benefit plan income (129) (150) (144) (105)
Gain on pension plan curtailment (23) 0 0 0
Impairment of goodwill and other assets 46 0 0 240
(Gain) loss on sale of businesses, net (229) 0 0 14
Gain on sale of asset group (12) 0 0 0
Loss on extinguishment of debt 2 0 24 0
Deferred income taxes 0 44 320 86
(Increase) decrease in:        
Accounts receivable 74 (9) (101) 24
Contract assets 15 (25) (76) 156
Inventories 158 (1) (19) (32)
Increase (decrease) in:        
Accounts payable (148) (84) 82 18
Contract liabilities 0 124 81 (31)
Compensation and benefits (28) 19 2 (37)
Other accrued items (128) (78) (38) (76)
Income taxes 47 (23) (117) 26
Other 119 21 (2) (21)
Net cash provided by operating activities 939 1,185 751 569
Investing Activities        
Net cash acquired in L3Harris Merger 1,130 0 0 0
Net additions of property, plant and equipment (173) (161) (136) (119)
Proceeds from sales of businesses, net 343 0 0 1,014
Adjustment to proceeds from sale of business 0 0 (2) (25)
Proceeds from sale of asset group 20 0 0 0
Other investing activities 0 2 (3) 0
Net cash provided by (used in) investing activities 1,320 (159) (141) 870
Financing Activities        
Net proceeds from borrowings 396 27 1,387 85
Repayments of borrowings (505) (308) (1,658) (584)
Proceeds from exercises of employee stock options 109 50 34 54
Repurchases of common stock (1,500) (200) (272) (710)
Cash dividends (337) (325) (272) (262)
Distributions to noncontrolling interests (10) 0 0 0
Tax withholding payments associated with vested share-based awards (86) (24) (17) (21)
Other financing activities (38) (1) (7) 0
Net cash used in financing activities (1,971) (781) (805) (1,438)
Effect of exchange rate changes on cash and cash equivalents 6 (3) (1) (4)
Net increase (decrease) in cash and cash equivalents 294 242 (196) (3)
Cash and cash equivalents, beginning of period 530 288 484 487
Cash and cash equivalents, end of period $ 824 $ 530 $ 288 $ 484