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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Operating activities    
Net income $ 934 $ 1,062
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 338 351
Postretirement benefit plan expense (benefit) (105) (189)
Deferred income taxes 0 26
Stock compensation 62 56
Loss on Russia divestiture 113 0
Other 9 (16)
Postretirement benefit plan contributions (13) (17)
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (229) (526)
Inventories 69 (343)
Accounts payable (32) 501
All other current assets and liabilities 254 275
Net cash provided by (used in) operating activities 1,400 1,180
Investing activities    
Additions to properties (506) (350)
Issuance of notes receivable (4) 0
Repayments of notes receivable 0 10
Purchases of available for sale securities (15) (15)
Sales of available for sale securities 15 14
Settlement of net investment hedges 29 37
Other 9 (8)
Net cash provided by (used in) investing activities (472) (312)
Financing activities    
Net issuances (reductions) of notes payable (115) 37
Issuances of long-term debt 896 0
Reductions of long-term debt (227) (33)
Net issuances of common stock 51 244
Common stock repurchases (60) (300)
Cash dividends (610) (596)
Other (55) (17)
Net cash provided by (used in) financing activities (120) (665)
Effect of exchange rate changes on cash and cash equivalents (8) (116)
Increase (decrease) in cash and cash equivalents 800 87
Cash and cash equivalents at beginning of period 299 286
Cash and cash equivalents at end of period 1,099 373
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 107 $ 75