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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Jan. 03, 2020
Dec. 28, 2018
Dec. 31, 2021
Jan. 01, 2021
Jan. 03, 2020
Jun. 28, 2019
Operating Activities            
Net income $ 834 $ 438 $ 1,842 $ 1,086 $ 1,345 $ 949
Adjustments to reconcile net income to net cash provided by operating activities:            
Amortization of acquisition-related intangibles 289   627 709   115
Depreciation and other amortization 153   340 323   143
Share-based compensation 125   129 94   58
Share-based matching contributions under defined contribution plans 102   219 216   83
Qualified pension plan contributions (328)   (6) (8)   (1)
Pension and other postretirement benefit plan income (129)   (375) (321)   (150)
Gain on pension plan curtailment (23)   (1) 0   0
Impairment of goodwill and other assets 46   244 767   0
Business divestiture-related (gains) losses (229) 0 (220) 51 (229) 0
Gain on sale of property, plant and equipment 0   0 (22)   0
Deferred income taxes 0   (114) (215)   44
(Increase) decrease in:            
Accounts receivable 74   217 (250)   (9)
Contract assets 15   (820) (116)   (25)
Inventories 158   (68) 60   (1)
Prepaid expenses and other current assets 127   23 57   2
Increase (decrease) in:            
Accounts payable (148)   430 173   (84)
Contract liabilities 0   178 14   124
Compensation and benefits (28)   (44) 43   19
Other accrued items (128)   20 41   (95)
Income taxes 47   190 61   (23)
Other (18)   (124) 27   36
Net cash provided by operating activities 939   2,687 2,790   1,185
Investing Activities            
Net cash acquired in L3Harris Merger 1,130   0 0   0
Additions to property, plant and equipment (173)   (342) (368)   (161)
Proceeds from sale of property, plant and equipment, net 0   7 91   0
Proceeds from sales of businesses, net 343   1,729 1,040   0
Proceeds from sale of property, plant and equipment, net 20   10 0   0
Other investing activities 0   (10) (12)   2
Net cash provided by (used in) investing activities 1,320   1,394 751   (159)
Financing Activities            
Net proceeds from borrowings 396   6 901   27
Repayments of borrowings (505)   (13) (931)   (308)
Payments of interest rate derivative obligations (32)   0 (113)   0
Proceeds from exercises of employee stock options 109   97 56   50
Repurchases of common stock (1,500)   (3,675) (2,290)   (200)
Cash dividends (337)   (817) (725)   (325)
Tax withholding payments associated with vested share-based awards (86)   (5) (4)   (24)
Other financing activities (16)   (6) (6)   (1)
Net cash used in financing activities (1,971)   (4,413) (3,112)   (781)
Effect of exchange rate changes on cash and cash equivalents 6   (3) 23   (3)
Net (decrease) increase in cash and cash equivalents 294   (335) 452   242
Cash and cash equivalents, beginning of period 530 $ 288 1,276 824   288
Cash and cash equivalents, end of period $ 824   $ 941 $ 1,276 $ 824 $ 530