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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 27, 2024
Sep. 29, 2023
Operating Activities    
Net income $ 1,056 $ 1,072
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 963 816
Share-based compensation 76 67
Pension and other postretirement benefit plan income (215) (209)
Share-based matching contributions under defined contribution plans 199 172
Deferred income taxes 220 (277)
(Increase) decrease in:    
Receivables, net 163 53
Contract assets (372) (136)
Inventories, net 46 (195)
Other current assets (32) (87)
Increase (decrease) in:    
Accounts payable (45) (18)
Contract liabilities (150) 202
Compensation and benefits (145) (55)
Other current liabilities 59 (27)
Income taxes (258) 15
Other operating activities (135) (86)
Net cash provided by operating activities 1,430 1,307
Investing Activities    
Net cash paid for acquired businesses 0 (6,688)
Additions to property, plant and equipment (290) (312)
Proceeds from sales of businesses, net 158 71
Other investing activities (19) (9)
Net cash used in investing activities (151) (6,938)
Financing Activities    
Proceeds from borrowings, net of issuance cost 2,826 7,568
Repayments of borrowings (2,609) (3,159)
Change in commercial paper, maturities under 90 days, net 93 1,330
Proceeds from commercial paper, maturities over 90 days 688 701
Repayments of commercial paper, maturities over 90 days (1,205) 0
Proceeds from exercises of employee stock options 111 18
Repurchases of common stock (512) (518)
Dividends paid (665) (652)
Other financing activities (36) (34)
Net cash (used in) provided by financing activities (1,309) 5,254
Effect of exchange rate changes on cash and cash equivalents 9 (4)
Net decrease in cash and cash equivalents (21) (381)
Cash and cash equivalents, beginning of period 560 880
Cash and cash equivalents, end of period $ 539 $ 499