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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jan. 02, 2021
Dec. 28, 2019
Dec. 29, 2018
Operating Activities      
Net income $ 1,264 $ 977 $ 1,344
Adjustments to reconcile net income to operating cash flows      
Depreciation and amortization 479 484 516
Postretirement benefit plan expense (benefit) (77) (89) 170
Deferred income taxes 69 47 46
Stock compensation 76 56 59
Multi-employer pension plan exit liability (5) 132 7
Gain from unconsolidated entities, net 0 0 (200)
Other (16) (36) (70)
Tax payment related to divestitures 0 (255) 0
Postretirement benefit plan contributions (32) (28) (287)
Changes in operating assets and liabilities, net of acquisitions:      
Trade receivables 75 (145) 76
Inventories (54) 2 (86)
Accounts payable (9) (9) 115
All other current assets and liabilities 216 40 (154)
Net cash provided by (used in) operating activities 1,986 1,176 1,536
Investing activities      
Additions to properties (505) (586) (578)
Purchases of marketable securities (250) 0 0
Sales of marketable securities 250 0 0
Acquisitions, net of cash acquired 0 (8) (28)
Divestiture, net of cash disposed (7) 1,332 0
Investments in unconsolidated entities 0 0 (389)
Acquisition of cost method investments (4) (1) (8)
Purchases of available-for-sale securities (81) (18) 0
Sales of available-for-sale securities 19 83 0
Other (7) (28) 55
Net cash provided by (used in) investing activities (585) 774 (948)
Financing activities      
Net increase (reduction) of notes payable, with maturities less than or equal to 90 days (16) (18) (264)
Issuances of notes payable, with maturities greater than 90 days 44 62 62
Reductions of notes payable, with maturities greater than 90 days (34) (69) (23)
Issuances of long-term debt 557 80 993
Reductions of long-term debt (1,229) (1,009) (408)
Debt redemption costs (20) (17) 0
Net issuances of common stock 112 64 167
Common stock repurchases 0 (220) (320)
Cash dividends (782) (769) (762)
Collateral received on derivative instruments (19) 0 0
Other (1) (9) (11)
Net cash provided by (used in) financing activities (1,388) (1,905) (566)
Effect of exchange rate changes on cash and cash equivalents 25 31 18
Increase (decrease) in cash and cash equivalents 38 76 40
Cash and cash equivalents at beginning of period 397 321 281
Cash and cash equivalents at end of period 435 397 321
Supplemental cash flow disclosures:      
Interest paid 249 284 280
Income taxes paid 281 537 188
Supplemental cash flow disclosures of non-cash investing activities:      
Additions to properties included in accounts payable $ 189 $ 128 $ 162