XML 32 R9.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 29, 2024
Oct. 01, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 10,635 $ 31,104
Adjustments to reconcile net earnings to cash flows from operating activities:    
Depreciation and amortization of property and intangibles 5,443 5,643
Stock based compensation 938 984
Asset write-downs 379 820
Charge for purchase of in-process research and development assets 1,252 0
(Gain) on Kenvue Separation 0 (20,984)
Net gain on sale of assets/businesses (225) (117)
Deferred tax provision (2,167) (1,782)
Credit losses and accounts receivable allowances (11) 0
Changes in assets and liabilities, net of effects from acquisitions and divestitures:    
Increase in accounts receivable (1,259) (851)
Increase in inventories (1,038) (1,447)
Increase in accounts payable and accrued liabilities 2,713 664
Decrease/(Increase) in other current and non-current assets 949 (1,366)
(Decrease)/Increase in other current and non-current liabilities (326) 2,260
Net cash flows from operating activities 17,283 14,928
Cash flows from investing activities    
Additions to property, plant and equipment (2,812) (2,954)
Proceeds from the disposal of assets/businesses, net (Note 10) 623 237
Acquisitions, net of cash acquired (Note 10) (15,145) 0
Purchases of in-process research and development assets (Note 10) (1,250) 0
Purchases of investments (1,464) (9,981)
Sales of investments 2,172 15,787
Credit support agreements activity, net 699 (917)
Other (including capitalized licenses and milestones) (102) (92)
Net cash (used by) / from investing activities (17,279) 2,080
Cash flows from financing activities    
Dividends to shareholders (8,839) (8,905)
Repurchase of common stock (2,150) (4,838)
Proceeds from short-term debt, net 11,984 12,462
Repayment of short-term debt, net (8,354) (21,645)
Proceeds from long-term debt, net of issuance costs 6,660 0
Repayment of long-term debt (804) (502)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 714 907
Credit support agreements activity, net 5 62
Settlement of convertible debt acquired from Shockwave (970) 0
Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation 0 8,047
Proceeds from Kenvue initial public offering 0 4,241
Cash transferred to Kenvue at separation 0 (1,114)
Other (38) 115
Net cash used by financing activities (1,792) (11,170)
Effect of exchange rate changes on cash and cash equivalents (91) (237)
(Decrease) / Increase in cash and cash equivalents (1,879) 5,601
Cash and cash equivalents from continuing operations, beginning of period 21,859 12,889
Cash and cash equivalents from discontinued operations, beginning of period 0 1,238
Cash and Cash equivalents beginning of period 21,859 14,127
Cash and cash equivalents from continuing operations, end of period 19,980 19,728
Cash and cash equivalents from discontinued operations, end of period 0 0
Cash and cash equivalents, end of period 19,980 19,728
Acquisitions (Note 10)    
Fair value of assets acquired 16,092 0
Fair value of liabilities assumed (1,634) 0
Net cash paid for acquisitions $ 14,458 $ 0