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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jul. 01, 2022
Operating Activities    
Net income $ 690 $ 945
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of acquisition-related intangibles 338 303
Depreciation and other amortization 168 162
Share-based compensation 45 69
Share-based matching contributions under defined contribution plans 121 113
Pension and other postretirement benefit plan income (141) (198)
Impairment of other assets 78 0
Business divestiture-related gain, net (26) 0
Gain on sale of asset group 0 (8)
Deferred income taxes (243) (326)
(Increase) decrease in:    
Receivables, net (105) (146)
Contract assets (159) (25)
Inventories (99) (259)
Other current assets (67) 31
Increase (decrease) in:    
Accounts payable 23 (44)
Contract liabilities 220 (21)
Compensation and benefits (10) (63)
Other accrued items (3) (103)
Income taxes 10 376
Other operating activities (76) (18)
Net cash provided by operating activities 764 788
Investing Activities    
Net cash paid for acquired business (1,973) 0
Additions to property, plant and equipment (164) (117)
Proceeds from sale of property, plant and equipment, net 0 4
Proceeds from sales of businesses, net 71 2
Proceeds from sale of asset group, net 0 18
Cash used for equity investments (9) (30)
Other investing activities 1 2
Net cash used in investing activities (2,074) (121)
Financing Activities    
Proceeds from borrowings, net of issuance cost 2,249 7
Repayments of borrowings (1,060) (10)
Change in commercial paper, net 579 0
Proceeds from exercises of employee stock options 13 34
Repurchases of common stock (518) (729)
Cash dividends (436) (435)
Tax withholding payments associated with vested share-based awards (28) (38)
Other financing activities (5) (3)
Net cash provided by (used in) financing activities 794 (1,174)
Effect of exchange rate changes on cash and cash equivalents 2 (14)
Net decrease in cash and cash equivalents (514) (521)
Cash and cash equivalents, beginning of period 880 941
Cash and cash equivalents, end of period $ 366 $ 420