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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Operating activities    
Net income $ 925 $ 988
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 277 273
Impairment of property 0 60
Postretirement benefit plan expense (benefit) (17) (32)
Deferred income taxes 101 (13)
Stock compensation 31 66
Other (43) 19
Postretirement benefit plan distributions 0 175
Postretirement benefit plan contributions (157) (55)
Changes in operating assets and liabilities, net of acquisitions and divestitures:    
Trade receivables (101) (191)
Inventories 15 (16)
Accounts payable (150) 144
All other current assets and liabilities (93) (125)
Net cash provided by (used in) operating activities 788 1,293
Investing activities    
Additions to properties (468) (440)
Purchase of marketable securities (74) (301)
Sales of marketable securities 112 145
Settlement of net investment hedges (55) (7)
Other 7 14
Net cash provided by (used in) investing activities (478) (589)
Financing activities    
Net issuances (reductions) of notes payable 420 12
Issuances of long-term debt 0 619
Reductions of long-term debt (632) (654)
Net issuances of common stock 102 190
Cash dividends (598) (580)
Other (28) (4)
Net cash provided by (used in) financing activities (736) (417)
Effect of exchange rate changes on cash and cash equivalents (28) 8
Increase (decrease) in cash and cash equivalents (454) 295
Cash and cash equivalents at beginning of period 694 274
Cash and cash equivalents at end of period 240 569
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 79 $ 94