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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 29, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 285 $ 339
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Amortization of acquisition-related intangibles 217 165
Depreciation and other amortization 103 85
Share-based compensation 26 23
Share-based matching contributions under defined contribution plans 70 57
Pension and other postretirement benefit plan income (72) (71)
Deferred income taxes (111) (115)
(Increase) decrease in:    
Receivables, net 7 48
Contract assets (340) (269)
Inventories (21) (86)
Other current assets 10 (40)
Increase (decrease) in:    
Accounts payable 9 90
Contract liabilities (152) 97
Compensation and benefits (170) (115)
Other accrued items (18) 63
Income taxes 103 130
Other operating activities (50) (51)
Net cash (used in) provided by operating activities (104) 350
Investing Activities    
Net cash paid for acquired businesses 0 (1,973)
Additions to property, plant and equipment (115) (71)
Other investing activities (1) (4)
Net cash used in investing activities (116) (2,048)
Financing Activities    
Proceeds from borrowings, net of issuance cost 2,237 2,248
Repayments of borrowings (2,250) (255)
Change in commercial paper, maturities under 90 days, net 326 0
Proceeds from commercial paper, maturities over 90 days 480 0
Repayments of commercial paper, maturities over 90 days (205) 0
Proceeds from exercises of employee stock options 35 11
Repurchases of common stock (233) (396)
Cash dividends (224) (220)
Other financing activities (22) (27)
Net cash provided by financing activities 144 1,361
Effect of exchange rate changes on cash and cash equivalents (7) 2
Net decrease in cash and cash equivalents (83) (335)
Cash and cash equivalents, beginning of period 560 880
Cash and cash equivalents, end of period $ 477 $ 545