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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Operating activities    
Net income $ 1,062 $ 1,061
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 351 346
Postretirement benefit plan expense (benefit) (189) (112)
Deferred income taxes 26 4
Stock compensation 56 50
Other (16) (29)
Postretirement benefit plan contributions (17) (15)
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (526) (196)
Inventories (343) (103)
Accounts payable 501 198
All other current assets and liabilities 275 (59)
Net cash provided by (used in) operating activities 1,180 1,145
Investing activities    
Additions to properties (350) (408)
Issuance of notes receivable 0 (29)
Repayments of notes receivable 10 28
Investments in unconsolidated entities 0 (10)
Purchases of available for sale securities (15) (56)
Sales of available for sale securities 14 69
Settlement of net investment hedges 37 10
Collateral paid on derivatives (10) (9)
Other 2 20
Net cash provided by (used in) investing activities (312) (385)
Financing activities    
Net issuances (reductions) of notes payable 37 343
Issuances of long-term debt 0 361
Reductions of long-term debt (33) (646)
Net issuances of common stock 244 50
Common stock repurchases (300) (240)
Cash dividends (596) (590)
Other (17) (18)
Net cash provided by (used in) financing activities (665) (740)
Effect of exchange rate changes on cash and cash equivalents (116) (15)
Increase (decrease) in cash and cash equivalents 87 5
Cash and cash equivalents at beginning of period 286 435
Cash and cash equivalents at end of period 373 440
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 75 $ 91