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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Jan. 02, 2021
USD ($)
Dec. 28, 2019
USD ($)
Dec. 29, 2018
USD ($)
Operating Activities:      
Net earnings $ 1,234.7 [1] $ 958.0 [1] $ 605.8 [1]
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization of property, plant and equipment 376.5 [2] 372.8 331.2
Amortization of intangibles 201.6 [2] 187.4 175.3
Inventory step-up amortization 29.0 [2] 7.4 9.6
Loss (gain) on sales of businesses 13.5 [2] (17.0) [1] 0.8 [1]
Loss on debt extinguishments 46.9 [1] 17.9 [1] 0.0 [1]
Stock-based compensation expense 109.1 [2] 88.8 76.5
Provision for credit losses 41.1 [2] 33.0 28.0
Share of net (earnings) losses of equity method investment (9.1) [2] 11.2 [1] 0.0 [1]
Deferred tax (benefit) expense (241.7) [2] (17.9) 191.1
Other non-cash items 44.7 [2] (13.8) 10.1
Changes in operating assets and liabilities:      
Accounts receivable (39.6) [2] 137.8 (48.8)
Inventories (401.5) [2] 137.7 (401.6)
Accounts payable 310.4 [2] (169.1) 211.0
Deferred revenue (0.3) [2] 8.5 1.5
Other current assets (100.2) [2] (183.6) (4.4)
Other long-term assets (14.0) [2] (37.3) 28.9
Accrued expenses 381.7 [2] 123.6 70.1
Defined benefit liabilities (40.2) [2] (47.6) (44.7)
Other long-term liabilities 79.5 [2] (92.1) 20.5
Net cash provided by operating activities 2,022.1 [2] 1,505.7 1,260.9
Investing Activities:      
Capital and software expenditures (348.1) [2] (424.7) (492.1)
Sales of assets 19.9 [2] 100.1 45.2
Business acquisitions, net of cash acquired (1,324.4) [2] (685.4) (524.6)
Sales of businesses, net of cash sold 59.1 [2] 76.6 (3.0)
Purchases of investments (18.7) [2] (260.6) (21.7)
Net investment hedge settlements 41.0 [2] 8.0 25.7
Other (5.9) [2] (22.6) (18.6)
Net cash used in investing activities (1,577.1) [2] (1,208.6) (989.1)
Financing Activities:      
Payments on long-term debt (1,154.3) [2] (1,150.0) (977.5)
Proceeds from debt issuances, net of fees 2,222.5 [2] 496.2 990.0
Net short-term (repayments) borrowings (342.6) [2] (18.1) 433.2
Stock purchase contract fees 59.8 [2] 40.3 40.3
Purchases of common stock for treasury (26.2) [2] (27.5) (527.1)
Proceeds from issuance of 2019 Equity Units 0.0 735.0 0.0
Proceeds from issuance of remarketed preferred stock 750.0 [2] 0.0 0.0
Premium paid on equity options 0.0 [2] (19.2) (57.3)
Premium paid on debt extinguishment (48.7) [2] 0.0 0.0
Proceeds from issuances of common stock 147.0 [2] 146.0 38.5
Craftsman deferred purchase price (250.0) [2] 0.0 0.0
Termination of interest rate swaps (20.5) [2] (1.0) (22.7)
Cash dividends on common stock (431.8) [2] (402.0) (384.9)
Cash dividends on preferred stock (18.8) [2] 0.0 0.0
Other (10.6) [2] (11.6) (13.5)
Net cash provided by (used in) financing activities 615.9 [2] (292.5) (561.6)
Effect of exchange rate changes on cash and cash equivalents 22.8 [2] (1.4) (53.9)
Change in cash, cash equivalents and restricted cash 1,083.7 [2] 3.2 (343.7)
Cash, cash equivalents and restricted cash, beginning of year 314.6 [2] 311.4 655.1
Cash, cash equivalents and restricted cash, end of year 1,398.3 [2] 314.6 [2] 311.4
Supplemental Cash Flow Information [Abstract]      
Cash and cash equivalents 1,381.0 297.7  
Restricted cash included in Other current assets 17.3 16.9  
Cash, cash equivalents and restricted cash 1,398.3 [2] 314.6 [2] 311.4
Craftsman      
Financing Activities:      
Craftsman contingent consideration 45.9 [2] 0.0 0.0
Consolidated Aerospace Manufacturing (CAM)      
Financing Activities:      
Craftsman contingent consideration $ 94.4 [2] $ 0.0 $ 0.0
[1] See Note A, Significant Accounting Policies - Restatement, for discussion regarding the impacts of the Restatement.
[2] See Note A, Significant Accounting Policies - Restatement, for discussion regarding the impacts of the Restatement.