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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Dec. 28, 2019
Operating Activities      
Net income $ 1,495 $ 1,264 $ 977
Adjustments to reconcile net income to operating cash flows      
Depreciation and amortization 467 479 484
Postretirement benefit plan expense (benefit) (392) (77) (89)
Deferred income taxes 125 69 47
Stock compensation 68 76 56
Multi-employer pension plan exit liability 0 (5) 132
Other (44) (16) (36)
Tax payment related to divestitures 0 0 (255)
Postretirement benefit plan contributions (20) (32) (28)
Changes in operating assets and liabilities, net of acquisitions:      
Trade receivables (9) 75 (145)
Inventories (135) (54) 2
Accounts payable 194 (9) (9)
All other current assets and liabilities (48) 216 40
Net cash provided by (used in) operating activities 1,701 1,986 1,176
Investing activities      
Additions to properties (553) (505) (586)
Issuance of notes receivable (28) (19) (30)
Repayments from notes receivable 28 14 5
Purchases of marketable securities 0 (250) 0
Sales of marketable securities 0 250 0
Divestiture, net of cash disposed 0 (7) 1,332
Investments in unconsolidated entities (10) 0 0
Purchases of available-for-sale securities (61) (81) (18)
Sales of available-for-sale securities 72 19 83
Other 24 (6) (12)
Net cash provided by (used in) investing activities (528) (585) 774
Financing activities      
Net increase (reduction) of notes payable, with maturities less than or equal to 90 days (27) (16) (18)
Issuances of notes payable, with maturities greater than 90 days 73 44 62
Reductions of notes payable, with maturities greater than 90 days (63) (34) (69)
Issuances of long-term debt 361 557 80
Reductions of long-term debt (650) (1,229) (1,009)
Debt redemption costs 0 (20) (17)
Net issuances of common stock 63 112 64
Common stock repurchases (240) 0 (220)
Cash dividends (788) (782) (769)
Other (35) (20) (9)
Net cash provided by (used in) financing activities (1,306) (1,388) (1,905)
Effect of exchange rate changes on cash and cash equivalents (16) 25 31
Increase (decrease) in cash and cash equivalents (149) 38 76
Cash and cash equivalents at beginning of period 435 397 321
Cash and cash equivalents at end of period 286 435 397
Supplemental cash flow disclosures:      
Interest paid 213 249 284
Income taxes paid 365 281 537
Supplemental cash flow disclosures of non-cash investing activities:      
Additions to properties included in accounts payable $ 162 $ 189 $ 128