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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2021
Jul. 03, 2020
Operating Activities    
Net income $ 879 $ 472
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of acquisition-related intangibles 320 353
Depreciation and other amortization 164 162
Share-based compensation 67 40
Share-based matching contributions under defined contribution plans 117 122
Qualified pension plan contributions (4) (4)
Pension and other postretirement benefit plan income (188) (160)
Investment and asset impairment charges 242 394
Business divestiture-related (gains) losses (165) 52
Deferred income taxes (151) (109)
(Increase) decrease in:    
Accounts receivable 62 (59)
Contract assets (438) 43
Inventories 46 175
Prepaid expenses and other current assets (21) (27)
Increase (decrease) in:    
Accounts payable 69 (116)
Contract liabilities 86 (80)
Compensation and benefits (80) (29)
Income taxes 309 92
Other accrued items 8 65
Other 59 (51)
Net cash provided by operating activities 1,381 1,335
Investing Activities    
Additions of property, plant and equipment (128) (108)
Proceeds from sale of property, plant and equipment 4 0
Proceeds from sales of businesses, net 1,430 963
Other investing activities 1 (10)
Net cash provided by investing activities 1,307 845
Financing Activities    
Net proceeds from borrowings 5 248
Repayments of borrowings (10) (254)
Proceeds from exercises of employee stock options 38 37
Repurchases of common stock (1,550) (700)
Cash dividends (416) (367)
Other financing activities (4) (6)
Net cash used in financing activities (1,937) (1,042)
Effect of exchange rate changes on cash and cash equivalents 2 (15)
Net increase in cash and cash equivalents 753 1,123
Cash and cash equivalents, beginning of year 1,276 824
Cash and cash equivalents, end of quarter $ 2,029 $ 1,947