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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Jan. 01, 2022
Operating Activities      
Net income $ 964 $ 962 $ 1,495
Adjustments to reconcile net income to operating cash flows      
Depreciation, Depletion and Amortization 419 478 467
Postretirement benefit plan expense (benefit) 53 240 (392)
Deferred income taxes (21) (46) 125
Stock compensation 95 96 68
Loss on Russia Divestiture 113 0 0
Other 40 (42) (44)
Postretirement benefit plan contributions (42) (23) (20)
Changes in operating assets and liabilities, net of acquisitions:      
Trade receivables (42) (257) (9)
Inventories 139 (411) (135)
Accounts payable (340) 411 194
All other current assets and liabilities 267 243 (48)
Net cash provided by (used in) operating activities 1,645 1,651 1,701
Investing activities      
Additions to properties (677) (488) (553)
Issuance of notes receivable (4) (22) (28)
Repayments from notes receivable 0 10 28
Settlement of net investment hedges 68 37 19
Investments in unconsolidated entities 0 0 (10)
Purchases of available-for-sale securities (15) (17) (61)
Sales of available-for-sale securities 64 19 72
Other 2 13 5
Net cash provided by (used in) investing activities (562) (448) (528)
Financing activities      
Net increase (reduction) of notes payable, with maturities less than or equal to 90 days (356) 337 (27)
Issuances of notes payable, with maturities greater than 90 days 35 28 73
Reductions of notes payable, with maturities greater than 90 days (25) (35) (63)
Issuances of long-term debt 404 39 361
Reductions of long-term debt (780) (648) (650)
Net issuances of common stock 60 277 63
Common stock repurchases (170) (300) (240)
Cash dividends (800) (797) (788)
Distribution from WK Kellogg Co. 663 0 0
Cash retained by WK Kellogg Co at Separation (78) 0 0
Other (63) 18 (35)
Net cash provided by (used in) financing activities (1,110) (1,081) (1,306)
Effect of exchange rate changes on cash and cash equivalents 2 (109) (16)
Increase (decrease) in cash and cash equivalents (25) 13 (149)
Cash and cash equivalents at beginning of period 299 286 435
Cash and cash equivalents at end of period 274 299 286
Supplemental cash flow disclosures:      
Interest paid 291 220 213
Income taxes paid 322 312 365
Supplemental cash flow disclosures of non-cash investing activities:      
Additions to properties included in accounts payable $ 138 $ 209 $ 162