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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 1,356 $ 964 $ 962
Adjustments to reconcile net income to operating cash flows      
Depreciation and amortization 367 419 478
Impairment of property 60 0 0
Postretirement benefit plan expense (benefit) (11) 53 240
Deferred income taxes 24 (21) (46)
Stock compensation 89 95 96
Loss on Russia divestiture 0 113 0
Other (64) 40 (42)
Postretirement benefit plan distributions 175 0 0
Postretirement benefit plan contributions (55) (42) (23)
Changes in operating assets and liabilities, net of acquisitions and divestitures:      
Trade receivables (104) (42) (257)
Inventories 2 139 (411)
Accounts payable 38 (340) 411
All other current assets and liabilities (117) 267 243
Net cash provided by (used in) operating activities 1,760 1,645 1,651
Investing activities      
Additions to properties (628) (677) (488)
Issuance of notes receivable 0 (4) (22)
Repayments from notes receivable 0 0 10
Purchases of marketable securities (350) 0 0
Sales of marketable securities 209 0 0
Settlement of net investment hedges (7) 68 37
Purchases of available for sale securities 0 (15) (17)
Sales of available for sale securities 0 64 19
Other 26 2 13
Net cash provided by (used in) investing activities (750) (562) (448)
Financing activities      
Net increase (reduction) of notes payable, with maturities less than or equal to 90 days (27) (356) 337
Issuances of notes payable, with maturities greater than 90 days 27 35 28
Reductions of notes payable, with maturities greater than 90 days 0 (25) (35)
Issuances of long-term debt 619 404 39
Reductions of long-term debt (655) (780) (648)
Net issuances of common stock 213 60 277
Common stock repurchases 0 (170) (300)
Cash dividends (776) (800) (797)
Proceeds received from debt issued and retained by WK Kellogg Co 0 663 0
Cash retained by WK Kellogg Co at separation 0 (78) 0
Other (8) (63) 18
Net cash provided by (used in) financing activities (607) (1,110) (1,081)
Effect of exchange rate changes on cash and cash equivalents 17 2 (109)
Increase (decrease) in cash and cash equivalents 420 (25) 13
Cash and cash equivalents at beginning of period 274 299 286
Cash and cash equivalents at end of period 694 274 299
Supplemental cash flow disclosures:      
Interest paid 303 291 220
Income taxes paid 244 322 312
Supplemental cash flow disclosures of non-cash investing activities:      
Additions to properties included in accounts payable $ 142 $ 138 $ 209