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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Operating activities    
Net income $ 2,654 $ 3,888
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 523 486
Amortization of acquisition-related intangible assets 1,191 1,209
Change in deferred income taxes (328) (601)
Loss on early extinguishment of debt 0 26
Stock-based compensation 150 155
Other non-cash expenses, net 330 291
Changes in assets and liabilities, excluding the effects of acquisitions (2,251) (1,724)
Net cash provided by operating activities 2,269 3,730
Investing activities    
Acquisitions, net of cash acquired (2,751) (40)
Purchase of property, plant and equipment (742) (1,146)
Proceeds from sale of property, plant and equipment 10 14
Other investing activities, net (102) 83
Net cash used in investing activities (3,585) (1,089)
Financing activities    
Repayment of debt (1,000) (375)
Proceeds from issuance of commercial paper 1,620 1,032
Repayments of commercial paper (1,441) (3,490)
Purchases of company common stock (3,000) (2,000)
Dividends paid (252) (220)
Other financing activities, net 24 3
Net cash used in financing activities (4,049) (5,050)
Exchange rate effect on cash (19) (177)
Decrease in cash, cash equivalents and restricted cash (5,384) (2,586)
Cash, cash equivalents and restricted cash at beginning of period 8,537 4,491
Cash, cash equivalents and restricted cash at end of period $ 3,153 $ 1,905