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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 27, 2022
Mar. 28, 2021
Operating activities    
Net earnings $ 1,733 $ 1,837
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 329 336
Stock-based compensation 54 47
Deferred income taxes (411) 63
Severance and restructuring charges 0 36
Changes in assets and liabilities    
Receivables, net (564) (236)
Contract assets (1,551) (1,363)
Inventories (163) 289
Accounts payable 1,829 1,023
Contract liabilities (205) (290)
Income taxes 697 301
Qualified defined benefit pension plans (116) (66)
Other, net (222) (229)
Net cash provided by operating activities 1,410 1,748
Investing activities    
Capital expenditures (268) (281)
Other, net 17 112
Net cash used for investing activities (251) (169)
Financing activities    
Repurchases of common stock (2,000) (1,000)
Dividends paid (767) (739)
Other, net (113) (67)
Net cash used for financing activities (2,880) (1,806)
Net change in cash and cash equivalents (1,721) (227)
Cash and cash equivalents at beginning of period 3,604 3,160
Cash and cash equivalents at end of period $ 1,883 $ 2,933