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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jul. 01, 2022
Jul. 02, 2021
Operating Activities    
Net income $ 945 $ 879
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of acquisition-related intangibles 303 320
Depreciation and other amortization 162 164
Share-based compensation 69 67
Share-based matching contributions under defined contribution plans 113 117
Qualified pension plan contributions (3) (4)
Pension and other postretirement benefit plan income (198) (188)
Impairment of goodwill and other assets 0 242
Business divestiture-related gains, net 0 (165)
Gain on sale of property, plant and equipment (1) 0
Gain on sale of asset group (8) 0
Deferred income taxes (326) (151)
(Increase) decrease in:    
Receivables, net (146) 62
Contract assets (25) (438)
Inventories (259) 46
Prepaid expenses and other current assets 31 (21)
Increase (decrease) in:    
Accounts payable (44) 69
Contract liabilities (21) 86
Compensation and benefits (63) (80)
Other accrued items (103) 8
Income taxes 376 309
Other (14) 59
Net cash provided by operating activities 788 1,381
Investing Activities    
Additions to property, plant and equipment (117) (128)
Proceeds from sale of property, plant and equipment, net 4 4
Proceeds from sales of businesses, net 2 1,430
Proceeds from sale of asset group 18 0
Cash used for equity investments (30) 0
Other investing activities 2 1
Net cash (used in) provided by investing activities (121) 1,307
Financing Activities    
Net proceeds from borrowings 7 5
Repayments of borrowings (10) (10)
Proceeds from exercises of employee stock options 34 38
Repurchases of common stock (729) (1,550)
Cash dividends (435) (416)
Tax withholding payments associated with vested share-based awards (38) (2)
Other financing activities (3) (2)
Net cash used in financing activities (1,174) (1,937)
Effect of exchange rate changes on cash and cash equivalents (14) 2
Net (decrease) increase in cash and cash equivalents (521) 753
Cash and cash equivalents, beginning of period 941 1,276
Cash and cash equivalents, end of period $ 420 $ 2,029