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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Oct. 01, 2023
Oct. 02, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 31,104 $ 14,421
Adjustments to reconcile net earnings to cash flows from operating activities:    
Depreciation and amortization of property and intangibles 5,643 5,198
Stock based compensation 984 925
Asset write-downs 820 787
Gain on Kenvue separation (20,984) 0
Net gain on sale of assets/businesses (117) (213)
Deferred tax provision (1,782) (2,488)
Credit losses and accounts receivable allowances 0 (14)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:    
Increase in accounts receivable (851) (1,591)
Increase in inventories (1,447) (1,877)
Increase in accounts payable and accrued liabilities 664 141
(Increase)/Decrease in other current and non-current assets (1,366) 4,563
Increase/(Decrease) in other current and non-current liabilities 2,260 (4,008)
NET CASH FLOWS FROM OPERATING ACTIVITIES 14,928 15,844
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (2,954) (2,422)
Proceeds from the disposal of assets/businesses, net (Note 10) 237 322
Acquisitions, net of cash acquired (Note 10) 0 (522)
Purchases of investments (9,981) (31,163)
Sales of investments 15,787 26,324
Credit support agreements activity, net (917) (305)
Other (primarily licenses and milestones) (92) (208)
NET CASH FROM (USED BY) INVESTING ACTIVITIES 2,080 (7,974)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends to shareholders (8,905) (8,728)
Repurchase of common stock (4,838) (4,715)
Proceeds from short-term debt (Note 4) 12,462 7,099
Repayment of short-term debt (21,645) (4,808)
Proceeds from long-term debt, net of issuance costs (Note 4) 0 1
Repayment of long-term debt (502) (2,133)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 907 907
Credit support agreements activity, net 62 1,678
Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation 8,047 0
Proceeds from Kenvue initial public offering (Note 12) 4,241 0
Cash transferred to Kenvue at separation (1,114) 0
Other 115 128
NET CASH USED BY FINANCING ACTIVITIES (11,170) (10,571)
Effect of exchange rate changes on cash and cash equivalents (237) (431)
Increase/(Decrease) in cash and cash equivalents 5,601 (3,132)
Cash and cash equivalents from continuing operations, beginning of period 12,889 13,309
Cash and cash equivalents from discontinued operations, beginning of period 1,238 1,178
Cash and Cash equivalents beginning of period 14,127 14,487
Cash and cash equivalents from continuing operations, end of period 19,728 10,347
Cash and cash equivalents from discontinued operations, end of period 0 1,008
CASH AND CASH EQUIVALENTS, END OF PERIOD 19,728 11,355
Acquisitions    
Fair value of assets acquired 0 620
Fair value of liabilities assumed 0 (98)
Net cash paid for acquisitions $ 0 $ 522