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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Jan. 03, 2020
Dec. 28, 2018
Dec. 29, 2017
Jan. 01, 2021
Jan. 03, 2020
Jun. 28, 2019
Jun. 29, 2018
Operating Activities              
Net income $ 834 $ 438   $ 1,086 $ 1,345 $ 949 $ 699
Adjustments to reconcile net income to net cash provided by operating activities:              
Amortization of acquisition-related intangibles 289     709   115 117
Depreciation and other amortization 153     323   143 142
Share-based compensation 125     94   58 51
Share-based matching contributions under defined contribution plans 102     216   83 31
Qualified pension plan contributions (328)     (8)   (1) (301)
Pension and other postretirement benefit plan income (129)     (321)   (150) (144)
Gain on pension plan curtailment (23)     0   0 0
Impairment of goodwill and other assets 46     767   0 0
Business divestiture-related losses (gains) (229) 0   51 (229) 0 0
Gain on sale of property, plant and equipment 0     (22)   0 0
Gain on sale of asset group (12)     0   0 0
(Gain) loss on extinguishment of debts 2     (2)   0 24
Deferred income taxes 0     (215)   44 320
(Increase) decrease in:              
Accounts receivable 74     (250)   (9) (101)
Contract assets 15     (116)   (25) (76)
Inventories 158     60   (1) (19)
Increase (decrease) in:              
Accounts payable (148)     173   (84) 82
Contract liabilities 0     14   124 81
Compensation and benefits (28)     43   19 2
Other accrued items (128)     19   (78) (38)
Income taxes 47     61   (23) (117)
Other 119     108   21 (2)
Net cash provided by operating activities 939     2,790   1,185 751
Investing Activities              
Net cash acquired in L3Harris Merger 1,130     0   0 0
Additions to property, plant and equipment (173)     (368)   (161) (136)
Proceeds from sale of property, plant and equipment, net 0     91   0 0
Proceeds from sales of businesses, net 343     1,040   0 0
Proceeds from sale of property, plant and equipment, net 20     0   0 0
Other investing activities 0     (12)   2 (5)
Net cash provided by (used in) investing activities 1,320     751   (159) (141)
Financing Activities              
Net proceeds from borrowings 396     901   27 1,387
Repayments of borrowings (505)     (931)   (308) (1,658)
Payments of interest rate derivative obligations (32)     (113)   0 0
Proceeds from exercises of employee stock options 109     56   50 34
Repurchases of common stock (1,500)     (2,290)   (200) (272)
Cash dividends (337)     (725)   (325) (272)
Tax withholding payments associated with vested share-based awards (86)     (4)   (24) (17)
Other financing activities (16)     (6)   (1) (7)
Net cash used in financing activities (1,971)     (3,112)   (781) (805)
Effect of exchange rate changes on cash and cash equivalents 6     23   (3) (1)
Net increase (decrease) in cash and cash equivalents 294   $ (196) 452   242  
Cash and cash equivalents, beginning of period 530 $ 288 $ 484 824   288 484
Cash and cash equivalents, end of period $ 824     $ 1,276 $ 824 $ 530 $ 288