XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Operating activities    
Net income $ 424 $ 371
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 119 112
Postretirement benefit plan expense (benefit) (73) (68)
Deferred income taxes 42 17
Stock compensation 16 20
Other 28 13
Postretirement benefit plan contributions (7) (2)
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (184) (155)
Inventories (160) (50)
Accounts payable 207 118
All other current assets and liabilities (85) (141)
Net cash provided by (used in) operating activities 327 235
Investing activities    
Additions to properties (138) (173)
Issuance of notes receivable 0 (20)
Repayments of notes receivable 0 28
Investments in unconsolidated entities 0 (10)
Purchases of available for sale securities (2) (2)
Sales of available for sale securities 1 5
Settlement of net investment hedges 37 (1)
Other (10) (16)
Net cash provided by (used in) investing activities (112) (189)
Financing activities    
Net issuances (reductions) of notes payable 313 326
Reductions of long-term debt (25) (4)
Net issuances of common stock 40 18
Common stock repurchases (300) (240)
Cash dividends (197) (195)
Other (2) 0
Net cash provided by (used in) financing activities (171) (95)
Effect of exchange rate changes on cash and cash equivalents (17) 5
Increase (decrease) in cash and cash equivalents 27 (44)
Cash and cash equivalents at beginning of period 286 435
Cash and cash equivalents at end of period 313 391
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 90 $ 97