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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Operating activities    
Net income $ 988 $ 934
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 273 338
Impairment of property 60 0
Postretirement benefit plan expense (benefit) (32) (105)
Deferred income taxes (13) 0
Stock compensation 66 62
Loss on Russia divestiture 0 113
Other 19 9
Distribution from postretirement benefit plan 175 0
Postretirement benefit plan contributions (55) (13)
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (191) (229)
Inventories (16) 69
Accounts payable 144 (32)
All other current assets and liabilities (125) 254
Net cash provided by (used in) operating activities 1,293 1,400
Investing activities    
Additions to properties (440) (506)
Issuance of notes receivable 0 (4)
Purchase of marketable securities (301) 0
Sales of marketable securities 145 0
Purchases of available for sale securities 0 (15)
Sales of available for sale securities 0 15
Settlement of net investment hedges (7) 29
Other 14 9
Net cash provided by (used in) investing activities (589) (472)
Financing activities    
Net issuances (reductions) of notes payable 12 (115)
Issuances of long-term debt 619 896
Reductions of long-term debt (654) (227)
Net issuances of common stock 190 51
Common stock repurchases 0 (60)
Cash dividends (580) (610)
Other (4) (55)
Net cash provided by (used in) financing activities (417) (120)
Effect of exchange rate changes on cash and cash equivalents 8 (8)
Increase (decrease) in cash and cash equivalents 295 800
Cash and cash equivalents at beginning of period 274 299
Cash and cash equivalents at end of period 569 1,099
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 94 $ 107