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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Apr. 01, 2022
Apr. 02, 2021
Operating Activities    
Net income $ 475 $ 466
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of acquisition-related intangibles 152 164
Depreciation and other amortization 80 87
Share-based compensation 28 33
Share-based matching contributions under defined contribution plans 55 57
Qualified pension plan contributions (2) (2)
Pension and other postretirement benefit plan income (99) (92)
Impairment of goodwill and other assets 0 62
Business divestiture-related losses 0 15
Deferred income taxes (162) (22)
(Increase) decrease in:    
Receivables, net (239) 213
Contract assets (93) (272)
Inventories (108) 61
Prepaid expenses and other current assets (25) (85)
Increase (decrease) in:    
Accounts payable (43) 15
Contract liabilities (16) 9
Compensation and benefits (154) (161)
Other accrued items (12) 71
Income taxes 203 72
Other (1) (30)
Net cash provided by operating activities 39 661
Investing Activities    
Additions to property, plant and equipment (55) (67)
Proceeds from sale of property, plant and equipment, net 0 3
Other investing activities (9) 3
Net cash used in investing activities (64) (61)
Financing Activities    
Net proceeds from borrowings 1 1
Repayments of borrowings (5) (1)
Proceeds from exercises of employee stock options 30 10
Repurchases of common stock (308) (700)
Cash dividends (218) (209)
Tax withholding payments associated with vested share-based awards (12) (1)
Other financing activities (1) 0
Net cash used in financing activities (513) (900)
Effect of exchange rate changes on cash and cash equivalents (1) 0
Net decrease in cash and cash equivalents (539) (300)
Cash and cash equivalents, beginning of period 941 1,276
Cash and cash equivalents, end of period $ 402 $ 976