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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 28, 2020
Mar. 30, 2019
Operating activities    
Net income $ 350 $ 285
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 117 124
Postretirement benefit plan expense (benefit) (39) (38)
Deferred income taxes 8 7
Stock compensation 19 13
Other (11) (8)
Postretirement benefit plan contributions (6) (5)
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (194) (229)
Inventories 1 12
Accounts payable 44 (16)
All other current assets and liabilities 102 (75)
Net cash provided by (used in) operating activities 391 70
Investing activities    
Additions to properties (112) (148)
Acquisition of cost method investments (3) 0
Purchases of available for sale securities (65) (7)
Sales of available for sale securities 5 7
Other (27) (15)
Net cash provided by (used in) investing activities (202) (163)
Financing activities    
Net issuances (reductions) of notes payable 549 429
Reductions of long-term debt (3) 0
Net issuances of common stock 46 7
Common stock repurchases 0 (220)
Cash dividends (195) (192)
Collateral received on derivative instruments 80 0
Net cash provided by (used in) financing activities 477 24
Effect of exchange rate changes on cash and cash equivalents (47) 20
Increase (decrease) in cash and cash equivalents 619 (49)
Cash and cash equivalents at beginning of period 397 321
Cash and cash equivalents at end of period 1,016 272
Supplemental cash flow disclosures    
Interest paid 8 8
Income taxes paid 18 79
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 87 $ 122